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Ivory Coast: Mobile money payments between different operators possible this year

06/03/2020
Source : connectionivoirienne.net
Categories: General Information

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The government of Côte d'Ivoire announces the interoperability of digital financial services in 2020. The project, which is in line with the regional financial inclusion strategy, led by the Central Bank of West African States (BCEAO), aims to increase the number of Ivorians who have access to financial services.

The interoperability of digital financial services, including mobile money and mobile banking, will allow any customer to send money to any other financial service. Thus, consumers will no longer be limited to carrying out financial transactions only to recipients affiliated with the same service provider as them.

For the government, this restriction lifted, the volume of financial transactions carried out by the populations should grow further in the country and encourage the adoption of digital financial services.

Apart from interoperability, the government, to achieve its objective of financial inclusion of populations (currently, 44% of the adult population still does not have access to digital financial services), has also planned the "digitalization of financial flows with the effective operationalization of existing platforms and the digitization of 80% of government financial flows”.

There are also plans to open up unstructured supplementary service data (USSD code), long monopolized by mobile telephone operators, to other players in the financial sector with a view to reducing the costs of the related services.

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