Nigerian CommunicationWeek

GSMA Urges United Front to Drive Mobile Money

The GSMA’s mobile money team has called-on operators to help usher in the next growth phase in the sector by adopting its new generation of protocols to create a harmonised in­dustry and aid integration with third parties.

GSMA Urges United Front to Drive Mobile Money

Speaking to Mobile World Live, Bart-Jan Pors, GSMA director of inclusive financial tech­nology and Viji Pa­thy. API Architect for inclusive financial technology pointed to numerous ad­vantages in operators using a common series of APIs.

This, they argue, would help create a harmonised mobile money industry and allow the sector to capitalise on the growth levels already reported by service providers across the globe as an increasing number of users take-up more advanced services.

“If you look to adjacent fi­nancial verticals, for example the payments industry run by banks, you’ve seen de­cades ago similar initiatives that drive harmonisation and specifications,” Pors said.

“We believe for the mobile money industry to develop further and build a larger ecosystem, it will become vi­tal to have harmonisation in place and to have that it’s im­portant for the GSMA now to provide this collaboration.”

Citing activities in related sectors such as smartphone software systems, Pathy added: “The industry’s re­ally grown once the ecosys­tem’s grown, and to do that you need standardised APIs because otherwise you have [third-party] service provid­ers having to connect to loads of different integrations.”

The GSMA’s newly launched APIs for mobile money are the second time it made a major push in this area and are a major upgrade on an original ver­sion launched in 2016.

Its specifications pro­vide new features designed to cover a wider range of use cases, strengthened security and improve in­tegration with common third-party platforms.

Among the new elements are expansion of supported types of account identifiers, adoption of internationally recognised open API speci­fications, the ability to gen­erate and cancel expiring transaction codes, support for ATM withdrawals, back­ing for new identification data, and mobile number validation covering local and international numbers.

Alongside the new gener­ation API, the organisation also released updated tools to help operators support those creating applications through developer portals.

To drive adoption of the new APIs, the GSMA also plans to hold regular sessions with operators and other in­terested parties provide edu­cation sessions and continue to adapt the system to meet evolving industry needs

 

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