In its efforts to contribute to bridging the financial divide, MTN Rwanda has granted access to third parties to its Mobile Money Access Programming Interface (API) platform.
MTN Mobile Money (MoMo) is the most widely used platform for payments in Rwanda. By availing the MoMo API, developers and programmers can innovate on the platform and develop products and solutions that will create a wider range of digital financial offerings for MTN’s 3.2 million MoMo customers.
“We’re excited to announce the official opening of the MoMo API. As technology evolves, our ambition is to lead digital for a brighter Rwanda and opening the MoMo API further emphasises this ambition by giving local developers an opportunity to innovate and build products that will enhance financial inclusion and improve customer experience when making payments,” said MTN CEO, Mitwa Ng’ambi.
“Previously, developers had to physically come 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 prior to go-live using an API sandbox available at no cost on the website,” added Ng’ambi.
The availability of the API will give a chance to innovators to be able to monetise their products as they stimulate the growth of the MoMo ecosystem in Rwanda.
Once an application is tested successfully, MTN will align on commissions with the developers, sign contracts and invite them on the live environment for the open APIs.
To further foster innovation and enhance financial inclusion, MTN is inviting developers and entrepreneurs between the ages of 15 – 35 to participate in the MTN Yolo Hackathon and win up to Rwf2,000,000. The Hackathon will go live on 15th January 2021.
Commenting on the Hackathon, Ng’ambi said, “The MTN Yolo Hackathon further illustrates our commitment to being a partner that is open to collaboration with members of the developer community. Shared value creation that enables shared prosperity is at the heart of everything that MTN does.
We celebrate the role that collaboration can play in ensuring that more people enjoy the benefits of a modern connected life.”
Individuals participating in the Hackathon are expected to address challenges and come up with solutions that are feasible, scalable, inclusive and revenue generating in these 4 sectors.
A call for applications, terms and conditions as well as regulations of the MTN Yolo Hackathon will be announced by the end of November 2020 and will be posted on the MTN Website www.mtn.co.rw.