The increase in mobile money adoption and more significant usage in average transaction values has contributed to the growth of interoperability solutions being designed. Initially, it was market-led and driven by the need identified by mobile money service providers for customers in different mobile money wallet ecosystems to transact. However, governments have been more proactive in driving interoperability in recent years.
Recently, the Central Bank of Kenya (CBK) introduced new guidelines on Mobile Money interoperability. The guidelines align with the CBK’s National Payments Strategy 2022-2025 and shall ensure seamless mobile money interoperability. In the new guidelines, mobile money customers are guaranteed a convenient customer journey across their different channels – SIM Menu, USSD Menu and App to allow on-network and off-network direct transactions. Airtel Money customers can now receive money from different networks directly to their mobile wallets with no withdrawal code.
Customers of Mobile money service providers like Airtel Money are set to benefit from this move as they can send and receive money easily to any mobile money platform in the market with no restrictions. At the moment Airtel Money customers can pay any Mpesa Buy Goods Tills and Paybill numbers.
On the other hand, interoperability and interconnection between mobile telephone systems will enhance the economic impact of mobile as a general-purpose technology and the social benefits of enabling more accessible communication.
Besides interoperability benefiting mobile money service providers, it also serves an advantage to mobile money users across networks, as they will be able to transact easily and enjoy convenience when paying their bills.
