The world runs on private payment systems
The lack of ability for modern payment networks to “talk” to each other adds inherent costs to the financial system in the form of fees (transaction, wiring, processing, hardware, and others). This cost excludes about 2 billion people from the global financial system.
Fees stifle small business
Business owners around the world cannot afford the setup costs that come with each new payment service or the transaction fees charged on each sale. Merchants often resort to cash only transactions, miss out on potential customers, and their business pays the price.
The Solution is…
Instant and inclusive real-time payments
A real-time payment network (RTPN) is a multi-actor, instant, 24/7 electronic fund transfer service that can be initiated through a variety of channels.
LOWER TRANSACTION COSTS
SYSTEM WIDE TRANSPARENCY
Mojaloop is a real-time payment network platform developed in partnership with the Bill & Melinda Gates Foundation.
ModusBox maintains a leading role in the Mojaloop community through contributions to the core solution and development of adjacent capabilities. We support government, industry, and commercial organizations with scheme creation, hub business operations, and technical operations for self-hosted or cloud-based Mojaloop real-time clearance solutions.
Key design principles of Mojaloop
Open-loop system available to all
Available to any licensed financial institution in a country.
Real-time, “Push” payments only
Removes risks & costs associated with batch processed “pull” payment systems.
Irrevocable payment with same-day settlement
Enables low value, high volume transactions in real-time.
Governed by financial service providers, regulated by the Central Bank
Creates fairness within the financial system participants with a well-tested model
Our work with Mojaloop
We have deep roots working across financial services, mobile money, and development and delivery of flexible micro-services. Our history and experience enabled us to partner with other industry leaders in the creation of Mojaloop in order to drive financial inclusion to the world’s most vulnerable.
Why work with us?
Connecting to real-time payment networks
Connection Manager is an open source product that assists your organization in connecting your systems to real-time payment networks.
Real-time payment network implementation
- Expert help to set up your RTPN
- Cloud hosted and managed options
- Processes to leverage Mojaloop for credit unions and community banks
- Global consulting for financial institutions, governments, system integrators and more
- Training and educational workshops
Real-time payment network management
- Early patch and bug fixes
- Specialized production support contracts
- Proxy participation in open source community
- Subscription-only training and courses
- Community support at Mojaloop.slack.com