Digital Payment Systems

Rohini Pande of Harvard University in the U.S. will conduct two large-scale randomized controlled trials (RCTs) which will investigate whether female-friendly modifications to the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGS) program in India can improve program efficiency and increase rural women's employment, financial inclusion, and empowerment. They will also test the efficacy of transparency tools to document wage payment delays to understanding whether holding local implementers accountable can decrease payment delays to women.

Claire Adida and Jennifer Burney of the University of California, San Diego, in the U.S. are developing a mobile money platform to enable the rural poor in West Africa to pay school fees directly and securely using mobile phones to help more children stay in school. Mobile money is not widely used in West Africa and many individuals do not use banks. Often money for things like school fees has to be physically transferred over long distances, which is unreliable and takes time. Recording payments is done largely by hand, which is error-prone and difficult to track.

Michael Oluwagbemi from Loftyinc Allied Partners Limited in Nigeria is developing an affordable mobile phone-based payment card reader with an array of functions (ProNov) so that poor, small-scale retailers in Nigeria can accept digital payments from customers, and better manage their businesses to reduce costs. Low-income retailers handle around 90% of transactions in Nigeria, but many have no way of accepting card payments.

Daniel Bloch of Bitsoko in Kenya will develop their mobile money platform known as Bitsoko, which integrates Blockchain technology for low-cost transactions mediated by bitcoins. They have built a mobile wallet and a point-of-sale service for merchants that allows money to be easily and securely transferred around the world using only a Bitsoko username, phone number or bitcoin wallet address. Bitsoko will also offer simplified options for paying household bills and payrolls.

Edom Tsegaye of Kifiya Financial Technology in Ethiopia will promote the use of mobile money in Ethiopia by enabling merchants to both accept digital payments from customers and provide them with associated services such as prepaying so they can make digital payments elsewhere. Mobile money is practical and safe but is still not being commonly used. This approach will promote uptake as well as simplifying and accelerating the process by cutting out the need for an agent network. It will also provide merchants with additional income.

Arunjay Katakam of Weeve Limited in the United Kingdom will design a method to simplify mobile money payments so that individuals can pay at retail merchants by dialing a number on their mobile phones. Software will be developed along with a server and phone line for mobile payments. Customers will download an encrypted and secure mp3 file (ringtone) on their mobile phones that identifies them and is used to verify their transactions. Transactions are made by merchants first dialing a free phone number and entering the payment amount.

Claire Adida and Jennifer Burney of the University of California, San Diego, in the U.S. are developing a mobile money platform to enable the rural poor in West Africa to pay school fees directly and securely using mobile phones to help more children stay in school. Mobile money is not widely used in West Africa and many individuals do not use banks. Often money for things like school fees has to be physically transferred over long distances, which is unreliable and takes time. Recording payments is done largely by hand, which is error-prone and difficult to track.

Enoma Odia of Sofdia System Nigeria in Nigeria will develop a mobile banking service that incorporates a form of peer-to-peer banking known as Osusu to facilitate saving and borrowing money. Money transactions for the majority of poor people in Nigeria occur physically via thrift collectors traveling around to farmers and traders by bicycle. These people have no formal means to store cash or borrow money, and traditional banking via mobile phone has had limited uptake. They will develop an Osusu mobile money platform and train thrift collectors to recruit their customers to the program.

Michael Oluwagbemi from Loftyinc Allied Partners Limited in Nigeria is developing an affordable mobile phone-based payment card reader with an array of functions (ProNov) so that poor, small-scale retailers in Nigeria can accept digital payments from customers, and better manage their businesses to reduce costs. Low-income retailers handle around 90% of transactions in Nigeria, but many have no way of accepting card payments.

Francis Otim of MMINDZS LTD in Uganda will further develop their mobile accounting system that enables small- and medium-sized enterprise merchants to easily track and record money payments made through their mobile phones. The program also produces financial records, receipts and tax returns. Using a team of programmers they will develop their technology to produce an improved low-cost system with additional functions and full security, tailor-made for the African market.