MoMo has announced the launch of an open API solution, aimed to grow the usage of digital wallets for customers and clients in the region of Nigeria. Following this announcement, the payment service bank aims to release the Application Programming Interface in order to increase the usage of digital wallets on the platform.

The PSB also expects companies and firms that use the open API to integrate it as a payment method or as a collections option. In addition, MoMo will continue to focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry. More information on the announcement Throughout this initiative, MoMo aims to add more services to its suite of solutions, including cash disbursement, payments, and others.

The firm will focus on attracting more companies to its platform, as well as optimising the customer experience and contributing to the overall development of the local financial landscape. With the use of an open API, MoMo is expected to not only expand its business offerings but also to become a platform that removes the cost of building separate APIs for firms and companies. In addition, it also aims to allow them to interact with other vendors and customers in one large community.

At the same time, MoMo’s open API will be free, but traders and merchants, as well as their users, will be required to develop a wallet known as the MoMo Accounts in order to complete transactions in a secure and efficient manner. The mini-application feature represents a marketplace solution that was developed to enable firms that are already using the Open API in order to build sub-apps on the MoMo super-app. This process is expected to ensure an end-to-end transaction experience.

At the same time, with the sub-apps, companies and businesses will have the possibility to access a network of several users, including firms and enterprises in 30 countries. .