The Value of Open APIs to Grow the Mobile Money Ecosystem
Mobile money continues to grow across Asia Pacific, having surpassed 473 million accounts in 2019. Ecosystem development remains a top priority for mobile money providers in the region. By providing easily accessible APIs, providers can enable seamless integrations with third-party service providers, create almost endless opportunities to build additional services on top of mobile money, and generate opportunities to monetise those services, increasing financial inclusion across the region. This session presented the state of the API industry in Asia Pacific and addressed the value of open APIs to build the ecosystem. It provided a future outlook on how uses cases of particular value in the Asia Pacific region such as international money transfer, merchant payments and disbursements can be facilitated by open APIs. Finally, we considered how the common APIs provided by the GSMA Mobile Money API can optimise ecosystem innovation and growth.