MTN Rwanda opened its mobile money API platform to third-party developers, as part of plans to stimulate the growth of its monetary technology ecosystem.
In a statement, Mitwa Ng’ambi, MTN chief executive said opening the MoMo API to developers was part of ambitions to spur innovation and the build of new products to “enhance financial inclusion and improve customer experience when making payments”.
“Previously, developers had to physically come to MTN and undergo a lengthy integration process. Now they can do it from the comfort of their homes. The online system provides an option for developers to test their products prior to go-live using an API sandbox available at no cost on the website,” added Ng’ambi.
The operator stated the API gives innovators the ability to monetise their products, to in turn stimulate the expansion of the MoMo ecosystem in Rwanda.
To promote this new push, MTN will invite developers and entrepreneurs between the ages of 15 to 35, to take part in a hackathon for a cash prize of RWF2 million ($2,000).
Commenting on the Hackathon, Ng’ambi said: “The MTN Yolo Hackathon further illustrates our commitment to being a partner that is open to collaboration with members of the developer community. Shared value creation that enables shared prosperity is at the heart of everything that MTN does.
“We celebrate the role that collaboration can play in ensuring that more people enjoy the benefits of a modern connected life.”