Open API launched to accelerate digital financial inclusion
In a move meant to accelerate digital financial inclusion, the United Nations Capital Development Fund (UNCDF) and Airtel Mobile Commerce Uganda Limited (AMCUL) have today launched an open application programming interface (API) initiative.
This, according to AMCUL Managing Director Japhet Aritho, 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.
Speaking at the same event in Kampala, UNCDF Digital Regional Manager, East and Southern Africa, Mike McCaffrey said 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.
An API enables different systems to communicate with 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.
