MTN and Ericsson (NASDAQ: ERIC) have extended their Mobile Money partnership by launching an open API platform in Ghana to give entrepreneurs an opportunity to develop revenue-generating applications. MTN Mobile Money is the most widely used mobile money platform in Ghana. As part of the new agreement, MTN will grant access to third parties to its Mobile Money Access Programming Interface (API) powered by Ericsson Wallet Platform.
An open API platform will enable developers and programmers to get free access to MTN mobile money proprietary software platform. Developers can now access it, create products that ease payment options and leverage the MTN clients registered on Mobile Money.
Eli Hini, General Manager, Mobile Financial Services at MTN says: “Mobile financial services are a global game-changer with an open money network being the connection needed between the financial industry and telecom to increase both the commercial and social benefits. Our open API platform will create a new type of ecosystem that is open for everyone to join to accelerate mobile financial services innovation and change the future of payments.”
The MTN Mobile Money API can be accessed online at http://MoMoDeveloper.MTN.com/. It saves time previously spent on submitting paperwork and a lengthy standard integration. The online system also allows developers to test their products before going live, by using a sandbox available on the website at no additional cost.
Fadi Pharaon, President of Ericsson Middle East and Africa says: “The ease to send, spend and receive money using a mobile phone is becoming an essential part of people’s lives. Our new partnership with MTN in Ghana aims to develop a more open, easy and accessible mobile money network. Ericsson is driving this change of making Mobile money more open by collaborating with MTN to advance secure, flexible platforms that help build an interconnected and transparent financial ecosystem.”
Ericsson is providing MTN a flexible, reliable and efficient m-commerce solution that includes Ericsson Wallet Platform, systems integration, operational support and solution development. The platform allows users to store, transfer and withdraw money, pay merchants and utility providers as well as use financial services like savings and loans.