Google, Gates Foundation partner to exceed the M-Pesa platform

Thursday 7 May 2020 15:40 CET | News

Google and the Bill and Melinda Gates Foundation have initiated the Mojaloop Foundation, in order to develop a new M-Pesa platform. 

According to, Mojaloop Foundation will develop and promote a free, open-source real-time payments platform intended for nations and central banks, with support from sponsors like the Rockefeller Foundation, the philanthropy and investing group Omidyar Network, and the financial technology startups Coil and ModusBox. Mojaloop attempts to exceed the results of M-Pesa, a mobile phone-based money transfer service, launched in 2007 by Vodafone and Kenya’s Safaricom mobile provider. 

Therefore, the software is available via Microsoft-owned GitHub and features a directory for identifying account holders, a transfer system for routing payments, and a clearing and settlement layer that transfers funds among users’ financial institutions. Moreover, the routing system relies partly on Interledger, technology originally developed by Ripple.

Overall, Mojaloop-based systems are intended to be hosted by each country’s governmental or financial authorities. Besides, because of the use of a shared standard, the systems could eventually become interoperable across borders, further easing the global flow of funds, the company’s officials stated.

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Keywords: Google, Gates Foundation, M-Pesa, digital payments, mobile payments, Mojaloop Foundation, real-time payments, Interledger, Ripple
Categories: Payments & Commerce
Countries: World
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