KAMPALA —Airtel Money and the United Nations Capital Development Fund (UNCDF) have launched open application programming interface (API) initiative that will grant innovators easy and secure online access to integrate their businesses with Airtel Money services, making it easier for them to offer payment services to various value chains.
The launch of this open APIs initiative is part of AMCULs mandate aimed at driving financial inclusion through the provision of digital financial services, without differentiation. It is part Airtels Africas commitment to Transforming Lives.
An API enables different systems to communicate to one another effectively, easing business processes and service delivery. In Uganda today, the vast majority of APIs are private and only available to third parties at exorbitant costs. By opening their APIs to third party innovators, AMCUL will offer services that can enable merchants to transact with respective customers in a safe, instant, and secure way.
AMCUL Managing Director Japhet Aritho, said: In a bid to deliver competent solutions that are customized to our customers needs, we endeavor to partner with a number of entities to ensure digital financial inclusion for all. We thrive on continuous research, innovation and introduction of products/ services that securely remove barriers. As such, AMCUL has partnered with key players in the digital financial space to empower and connect our low-income customers with access to and utilization of digital services that leverage innovation and technology to promote financial inclusion. This will be achieved through the open API initiative that we have launched today.
He added that the success of such developments which accelerate the integration of merchants with Airtel Money across the country are hinged on impactful strategies as exhibited today.
UNCDFs partnership with AMCUL is part of its flagship program to drive the growth of inclusive digital economies. Fostering inclusive innovation to deliver affordable services to low-income communities in Uganda, such as smallholder farmers, women, refugees, youth, and MSMEs, is an integral element of this digital agenda. Since 2017, UNCDF has been convening the country’s digital financial services industry players to promote lowering the barriers to accessing key APIs and open the innovation space for new solutions to benefit everyone, particularly underserved customers.
UNCDF Digital Country Lead, East and Southern Africa, Chris Lukolyo said: Over the last ten years, Ugandas digital financial services ecosystem has grown exponentially, majorly driven by mobile money. The next wave of growth in Ugandas digital economy will require more innovation beyond payments. Third-party innovators are looking for the opportunity to integrate directly and easily into existing digital systems and infrastructure. By opening their APIs to third-party innovators, financial services providers like Airtel Money foster the growth of new solutions customized to the needs of the population, especially the rural and low-income populations.
In his remarks the Guest of honor Hon. Dr. Okwonga Alfred, the Lord Mayor, Gulu commended the initiatives and effort made towards promoting digital financial inclusion and applauded all the present entities for the tremendous effort made.
The decision to leverage on technology and innovation in the quest to drive financial empowerment is a smart approach towards financial inclusion right from the grassroots. I am pleased to learn that with open APIs, more people can have access to affordable digital financial services to suit any need in any sector whether its health, agriculture, education, among others. These are the right firm steps taken to impact the bigger picture. As such, I would like to appreciate Airtel Money and all partners present here for the tremendous work done with todays launch of the open APIs initiative,” he said.