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RSwitch Achieves Mobile Financial Services Interoperability

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(Agence Ecofin) – Rwanda aims to set up a cashless economy. One of the main obstacles to the realization of this project is the lack of interoperability between the different digital payment services used in the country.

RSwitch, a Rwandan company specializing in providing payment solutions, announced on Thursday, May 26, the launch of the eKash platform, in partnership with MTN’s Mobile Money Rwanda Limited and Airtel Money. The aim of this initiative is to facilitate the interoperability of mobile payment services in Rwanda.

Thanks to the integration of the platforms, Rwandans will now be able to send and receive money between the two systems more easily and without additional costs.

The interoperability of digital payment services is part of the ambition of the Rwandan government to set up a cashless economy in a context marked by the acceleration of digital transformation. Interoperability of financial services in Rwanda has been in the making since 2014. It was not until 2019 that the government entrusted its implementation to RSwitch. The system was initially planned to be operational before the end of 2019, but the deadline was pushed back to June 2021 and then to March 2022.

Financial services interoperability is part of a larger project called Rwanda National Digital Payment System (RNDPS), which aims to integrate all financial service providers including banks, telecom operators providing mobile payments, microfinance institutions, fintechs and others. The interoperability of mobile payment services should facilitate mobile financial transactions while reducing costs. It will contribute to greater financial inclusion of the Rwandan populations.

Isaac K. Kassouwi

Read also: 4/3/2021 — Rwanda: Parliament examines the interoperability of mobile financial services

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