Popular Telecom, MTN Rwanda on Monday, November 9 announced that it had granted access to local developers to its Mobile Money API (Application Programming Interface) platform enabling them build solutions that accept mobile money payments.
"We are excited to announce the official opening of the MoMo API. As technology evolves our vision is to lead digital for a brighter Rwanda,” Mitwa Ng’ambi the Chief Executive commented.
API is a software intermediary that allows two applications to ‘talk to each other’.
"Opening the MoMo API further emphasizes this ambition by giving local developers an opportunity to innovate and build products that will enhance financial inclusion and improve customer experience while making payments,” she added.
Payment APIs are interfaces designed for managing payments and enable e-Commerce sites and platforms to process payments for goods and services, track orders, and maintain customers’ lists.
She pointed out, "Previously developers had to come physically to MTN and undergo a lengthy integration process. Now they can do it from the comfort of their homes. The online system provides an option for developers to test their products to go-live using an API sand box available at no cost on the website.”
According to the firm whose mobile money subscriber base stands at 3.2 million, developers and programmers can innovate on the platform and develop products as well as solutions that will create a wider range of digital financial offerings.
Additionally, the availability of the MoMo API will give a chance to innovators to be able to monetize their products as they stimulate the growth of the MoMo ecosystem in the country.
"Once an application is tested successfully, the firm will align on commissions with the developers, sign contracts and invite them on the live environment for the open APIs.” Reads part of a statement published by MTN Rwanda on the same day.
Local entrepreneurs and start-ups can access the Mobile Money API online through (https://momoapi.mtn.co.rw/).
The publishing of the API, will ease the ability of local entrepreneurs to offer mobile money payment options on their respective platforms creating seamless interactions with clients.
Local e-commerce businesses and platforms businesses say that the development will enable them to adjust models of payments to improve convenience and reduce reliance on cash.