mediacongo.net – News – Study on the interoperability of digital financial services

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Target SARL carried out documentary research on digital financial services in the Democratic Republic of Congo in order to highlight the level of interoperability of the various services offered by both mobile operators and banks.

The year 2010 was marked by the rise of the M-pesa mobile money service in Kenya and this has led 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).

Documentary research and informal interviews carried out by the TARGET SARL team have shown that the mobile money sector in the DRC reached in 2021 according to the ARPTC (Regulatory Authority for Post and Telecommunications in the DRC) an overall income of 41 812,322 USD in with 12,739,638 subscribers and a penetration rate amounting to 14.21%.

Vodacom broke the record with 38.88% market share, followed by Airtel (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.

In terms 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.

Vodacom M-pesa works with five banks including Ecobank, Equity BCDC, Rawbank, Sofibanque, UBA and a microfinance institution FINCA. It offers services such as Kimia life insurance payment, M-pesa bank n’a tshombo, M-pesa transfer to my bank, salary advance, merchant payment.

As for Airtel, it works with three commercial banks including Ecobank, Rawbank and Sofibanque and offers a transfer service from the bank account to the 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]).


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