A Blockchain based Mobile Money Interoperability Scheme

Developing Countries in Africa in general and Zambia in particular, have seen a rapid rise in use of mobile payment platforms. This has not only revolutionized access to finance for the poor but also allowed them access to other financial products such as savings or insurance. With a growing number of mobile money providers in Zambia, there is need for a solution that would enable integration of the mobile money provider’s systems using a central clearinghouse for purposes of clearing and settlement to achieve mobile money interoperability. In this study, we first reviewed the technical landscape and features of mobile payment systems in Zambia and then assessed the feasibility of using blockchain technology in proposing a settlement and clearing system that would facilitate mobile money interoperability. A prototype system was then designed in which amounts being interchanged between providers are managed as assets on a permissioned blockchain. The system runs a distributed shared ledger, which provides non-repudiation, data privacy and data origin authentication, by leveraging the consistency features of blockchain technology.

@article{Mvula2020,
  title     = {A Blockchain based Mobile Money Interoperability Scheme},
  journal   = {International Journal of Advanced Computer Science and Applications},
  volume    = {11},
  number    = {1},
  year      = {2020},
  publisher = {The Science and Information Organization},
  author    = {Fickson Mvula and Jackson Phiri and Simon Tembo},
  doi       = {10.14569/IJACSA.2020.0110117},
  url       = {https://doi.org/10.14569/IJACSA.2020.0110117}
}