Mobile money interoperability in Bolivia: A case study for Latin America
Over the last years, the Mobile Money Programme has highlighted the growing relevance of bank-to-mobile integration and the multiple methods to achieve such interconnection. The 2017 State of the Industry Report highlighted that approximately 10% of mobile money transactions by value are between banks and wallets – a tenfold growth from 2012.
In Bolivia, Tigo has strategically pursued interoperability with the banking sector, choosing to connect through a switch, as this brings one single entry point with access to many banks. In 2017, we visited Bolivia to meet with the core stakeholders who have worked together to provide account-to-account transfers between Tigo Money and the majority of Bolivian banks using the private bank’s association switch.