Airtel was one of the four major operators in Tanzania. (Idrees Abbas/SOPA Images/LightRocket, Getty Images)
Mobile money in South Africa is booming, but interoperability challenges are preventing it from reaching its full potential.Collaboration between mobile financial services could be win-win, he says.Wenbo Zheng.
Mastercard or Visa? Today, you can shop anywhere in the world, and if you want to pay by credit card, you'll probably choose this at checkout. Although these two card schemes are competitors, they have worked together over the past few decades to ensure their dominance of global commerce. Their success can be attributed to the development of a shared interoperable ecosystem.hat makes it easy for customers to instantly send money to each other, regardless of who they bank with.
Interoperability created economies of scale, creating a vast network on which the two competitors could grow, benefiting both consumers and businesses. South African mobile money operators are now considering doing the same with digital payments.
South Africans need to gain knowledge if we want to build a prosperous future. News24 has been keeping the nation informed for 25 years and we are entering a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news designed to inform, empower and inspire.
