On Tuesday, the MTN Group announced that it has granted a third party access to its mobile money API, for the sake of innovation furtherance and financial inclusion. That means, the Access Programming Interface (API) platform for MTN’s mobile money platform (MoMo) has been opened up to enable access for developers and programmers to innovate on the platform and develop products and other solutions that would create a wider range of digital financial offerings for MTN’s customers. According to a statement issued by the telecommunication giant:
“MTN is inviting developers and entrepreneurs, across five countries, to participate in the MoMo API Hackathon. The Hackathon, run in partnership with Ericsson (MTN’s MoMo technology partner), will give app developers based in Ghana, Uganda, Cote d’Ivoire, Cameroon and Zambia the opportunity to create innovative financial and transactional applications using the MTN MoMo API platform,”
MTN Group executive for mobile financial services, Serigne Dioum, added: “Enhancing financial inclusion through digital technology is an essential element in supporting the continent’s realisation of some of the United Nations Sustainable Development Goals (SDG). We also see this as an opportunity for more tech developers, entrepreneurs and businesses to work with us in bridging the financial divide, whilst also creating ample opportunities for themselves.”
Developers are required to create a mobile application that uses MTN MoMo APIs and the mobile application needs to target consumers, merchants or businesses. It is also mandated that the application is useful and usable in the market where the applicants have registered and can cover use cases beyond payment but must utilise MTN MoMo APIs, BusinessDay reported.
According to MTN, the hackathon further illustrates the essence of the company’s ‘We’re Good Together’ initiative, which celebrates the role that collaboration can play in ensuring that more people enjoy the benefits of a modern connected life. The range of solutions to narrow the financial services gap can only be achieved through various partnerships with entrepreneurs, developers, financial services providers, regulatory authorities, other mobile network operators, merchants, distributors, businesses and technology providers.
To participate in the challenge, MTN and Ericsson in each country will select 12 applicants. The preselected applicants will have two weeks to develop their ideas. After submitting a live demo of their application submission, finalists stand a chance to win up to $2,500 and one team member will win a trip to Ericsson’s Innovation Lab in Sweden.