That a kiosk can take payment through an e-wallet and then pay its suppliers with e-money regardless of which technology provider each kiosk has.
The challenge was posed a few years ago by the GSMA (the global telecommunications regulator), which defined a single e-money interoperability standard called the GSMA Mobile Money API, which works between the players in the ecosystem (telecommunications companies, banks, governments, merchants, distributors, end consumers, financial institutions, etc.).
In 2017, Uruguay's In Switch, a company specialising in developing e-money solutions, took over during the Mobile World Congress (MWC), worked for a year and became the first company in the world to implement the standard.
The achievement was recognised by the GSMA itself, which invited In Switch to present the case at one of the talks at MWC 2018 in Barcelona, the world's leading congress on mobile innovation.
The company will present its success story next Monday in the panel Payments As A Platform: Unlocking The API Economy And The Future Of Digital Innovation, said Amilcar Perea, CEO of In Switch. "We are participating for the second time in a row in the congress with a stand as the only Uruguayan company, with the added bonus that we have been invited to showcase our achievement in a talk. There we will talk about our role as pioneers in implementing it in the world," he said.
Perea said the standard will be implemented in early March in the Tigo Money e-wallet project in Bolivia, which has 400,000 users, but the plan is that from now on all its products will be launched with this standard. At the same time, this year it will be included in the 10 e-wallet projects that the company already has in Latin America, which by the end of this year will have 10 million users.
"The positive thing about this is that, as it is the global standard, it is implemented now and lasts forever. This is a differential for In Switch, to ensure interoperability for our current and future customers, and it opens the door to markets such as Asia, the Middle East and Africa, which we will address in 2019," he concluded.
Source: El País
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