The research firm Target SARL has just published a new study on interoperability between the banking sector and telecommunications operators in the Democratic Republic of Congo (DRC). Interoperability is a computer term that designates systems capable of adapting and collaborating with other independent systems that already exist or are yet to be created.
The Target sarl report indicates that there are a total of 12 services offered by 3 telecom operators who offer the mobile money service in partnership with five (5) commercial banks and a microfinance institution.
The report on interoperability in the DRC also dwells on mobile banking by presenting the various digital products and their functionalities.
For each telecommunications operator that offers the mobile money service, the report describes the services offered, the partner banks, the conditions of use, the targets as well as the currencies used.
It should be noted that documentary research and informal interviews carried out by the Target sarl team have shown that the mobile money sector in the DRC has reached in 2021, according to the ARPTC (Regulatory Authority for Post and Telecommunications in the DRC ), an overall revenue of 41,812,322 USD with 12,739,638 subscribers and a penetration rate amounting to 14.21%.
Thus, of the 3 operators offering the mobile money service, Vodacom broke the record with 38.88% market share. It is followed by Airtel with 27.15%; Orange 26.76% and Africell (7.21%). So far, only Vodacom, Orange and Airtel offer Bank-to-wallet interconnection and Wallet-to-Wallet interoperability is only possible between Orange and Vodacom.
The study also informs that on the subject of Bank-to-wallet interoperability, Orange, through its MMP Orange money, works with four commercial banks including Ecobank, Equity BCDC, Rawbank, UBA and a microfinance institution FINCA. It offers five services: zwa cash, merchant payment, Orange Money visa card, bank na phone and transfer from a Finca account to Orange Money.
As for M-pesa, Vodacom works with five banks including Ecobank, Equity BCDC, Rawbank, Sofibanque, UBA and a microfinance institution FINCA. It offers services such as payment for Kimia life insurance, M-pesa bank n’a tshombo, M-pesa transfer to my bank, salary advance, merchant payment.
For its part, Airtel works with three commercial banks including Ecobank, Rawbank and Sofibanque. It offers transfer service from bank account to Airtel Money account and vice versa. It also allows you to receive money from abroad via MFS Africa, Moneygram and Worldremit.
The complete study on the interoperability of mobile money services, including details on digital products in the banking sector and their functionalities, is available on request ([email protected])
For the record, the year 2010 was marked by the rise of the mobile money service M-pesa in Kenya and this gave rise to a considerable increase in other mobile money services. In their early days, mobile money services did not offer users the possibility of circulating electronic money between different operators. Initiatives were then born that promoted interoperability, i.e. the possibility of circulating funds from one Mobile Money Provider or MMP to another (wallet-to-wallet) or even from an MMP to a bank or from a bank to an MMP (Bank-to-wallet).