“Mobile Money in a Box” – Inclusive, Interoperable & Secure by Design

SCHEME: Proof-of-Concept

CALL: 2019

DOMAIN: IS - Information and Communication Technologies

FIRST NAME: Tegawendé François d'Assise

LAST NAME: Bissyandé



HOST INSTITUTION: University of Luxembourg

KEYWORDS: Financial inclusion, Mobile money, Mobile banking, Security, Interoperability

START: 2019-07-01

END: 2021-06-30

WEBSITE: http://www.uni.lu

Submitted Abstract

Digitization of payments, transfers, and remittances is key to transparent and inclusive economic growth in low income countries such as the West-African region, as it will increase customer convenience, reduce transaction costs substantially, and minimize the need for unaffordable physical infrastructure (e.g., local bank branches). MoNeyBox enables banks, micro-finance institutions, telcos, etc. to launch innovative mobile banking businesses faster and at lower cost with a modular approach from regulatory to sales and distribution management. The software stack of MoNeyBox builds on an approach to shift from the largely adopted SMS/USSD-based mobile money to a more transparent, interoperable, secure, open and rich Mobile Money Infrastructure backed by a permissionned ledger. We expect MoNeyBox to be a disruptive solution for cashless payments for unbanked populations, where interoperability and openness will democratize and drive a long-awaited era of innovation in digital services.

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