Airtel Mobile Commerce Uganda Limited (AMCUL) and the United Nations Capital Development Fund (UNCDF) have today announced the launch of an open application programming interface (API) initiative that will grant innovators easy and secure online access to integrate their businesses with Airtel Money services, making it easier for them to offer payment services to various value chains.
Through this initiative, AMCUL says “We will open our APIs to third party innovators, simplifying service delivery and enabling them to develop new solutions to deliver value to Ugandans and transform their lives.”
An API enables different systems to communicate to one another effectively, easing business processes and service delivery. Today in Uganda, the vast majority of APIs are private and only available to third parties at exorbitant costs. By opening their APIs to third party innovators, AMCUL will offer services that can enable merchants to transact with respective customers in a safe, instant, and secure way.
According to Bank of Uganda mobile money transfer statistics of 2009 to 2020 show that the number of registered mobile money subscribers has been increasing drastically from 0.6 Million to 30.7 Million mobile money users respectively and customers now are looking for quicker and more convenient processes to pay off their debts or make any other transfers of their own easily.
“In a bid to deliver competent solutions that are customized to our customer’s needs, we endeavor to partner with a number of entities to ensure digital financial inclusion for all. We thrive on continuous research, innovation and introduction of products and services that securely remove barriers,” the Managing Director Airtel Mobile Commerce Uganda Limited Mr. Japhet Aritho said while launching the open APIs.
He added that as such, AMCUL has partnered with key players in the digital financial space to empower and connect our low-income customers with access to and utilization of digital services that leverage innovation and technology to promote financial inclusion which will be achieved through the open API initiative that we have launched today.
In the race of fostering inclusive innovation to deliver affordable services to low-income communities in Uganda, such as smallholder farmers, women, refugees, youth, and Micro, Small and Medium Enterprise (MSMEs), UNCDF’s partnership with AMCUL has served to be an integral element of this digital agenda that UNCDF birthed ever since 2017 to lower the barriers to accessing key APIs and open the innovation space for new solutions to benefit everyone, particularly underserved customers.
“Over the last ten years, Uganda’s digital financial services ecosystem has grown exponentially, majorly driven by mobile money. The next wave of growth in Uganda’s digital economy will require more innovation beyond payments. Third-party innovators are looking for the opportunity to integrate directly and easily into existing digital systems and infrastructure. By opening their APIs to third-party innovators, financial services providers like Airtel Money foster the growth of new solutions customized to the needs of the population, especially the rural and low-income populations,” UNCDF Digital Regional Manager, East and Southern Africa, Mike McCaffrey said during the occasion.
According to Hon. Chris Baryomunsi Minister of ICT & National Guidance commended the initiatives and effort made towards promoting digital financial inclusion and applauded all the present entities for the tremendous effort made.
“The decision to leverage on technology and innovation in the quest to drive financial empowerment is a smart approach towards financial inclusion right from the grassroots. I am pleased to learn that with open APIs, more people can have access to affordable digital financial services to suit any need in any sector whether its health, agriculture, education, among others. These are the right firm steps taken to impact the bigger picture. As such, I would like to appreciate Airtel Money and all partners present here for the tremendous work done with today’s launch of the open APIs initiative,” Baryomunsi said.
Airtel Money aims at increasing financial inclusion and meeting the needs of millions of customers in Africa who have little or no access to banking and financial services and with this bonding with UNCDF, different audiences ready themselves to experience a fascinated digitized economy.
