The problem: One out of five people do not have access to formal financial services
The Unprofitable Unbanked
Unbanked populations typically rely on low-value, high volume transactions, making them less attractive customers for most banks
Barriers to Financial Inclusion
BATCH PAYMENT PROCESSING
Withholds funds from people living on the financial edge
Causes an inability to spend funds at all merchants
Limits payments and increases costs
Old solutions inhibit the adoption of new technologies
Mojaloop creates opportunity without lock-in
As a secure open source platform, Mojaloop promotes interoperability for everyone—all classes of Digital Service Providers (DFSPs) and the customers they serve. With a purpose-built reference architecture that embodies the Level 1 Project principles, Mojaloop is a cost-effective solution for real-time payment and settlement management. Payment Hub Operators can leverage the technology to deliver transformational and inclusive financial services into their markets.
Developed in Partnership
with The Gates Foundation
& Level One Project
ModusBox has lead multiple Mojaloop implementations in developing markets, and worked with the wider community to accelerate understanding and adoption Mojaloop.
Open Loop System
Available to any licensed DFSP in the country including banks and licensed non-banks.
“Real-time, “push” only Payments”
Removes risks & costs associated with batch processed “pull” payment systems.
Irrevocable payments with same-day settlement
Enables low value, high volume transactions in real-time.
Governed by DFSPs, regulated by the Central Bank
Engenders fairness for financial system participants with a well-tested model
The Mojaloop Hub is the primary container and reference used to describe Mojaloop’s core components.
The Account Lookup Service (ALS) routes payments to the correnct service/provider in the ecosystem.
The Central Ledger is composed of services to facilitate clearing and settlement of transfers between DFSPs.
The Central Settlements service manages settlements between FSPs and the Central Hub.
Experts on Mojaloop
Our Payment Solutions team has a unique makeup. With deep roots in finserv, mobile money, and development and delivery of flexible microservices, we partnered with other industry leaders in the creation of Mojaloop. Together, we are supporting efforts to extend financial inclusion to the world’s poor.
- Expert services to set up your instance
- Cloud hosted & managed deployment options
- Guidance to leverage Mojaloop for credit unions and community banks
- Global consulting for FIs, government regulators, system integrators, and more
- Training and educational workshops
- Mojaloop Partner Program
- Early patch and fix access
- Subscription only training and courses
- Specialized production support contracts
- Proxy participation in the open source community
- Community support at mojaloop.slack.com