The cashless economy has kept the Ugandan digital economy to have standard growth and has impacted Airtel Uganda and the United Nations to embrace innovation by debuting an electronic payment gateway. The Ugandan branch of the telecom giant has launched an Open Application Programming Interface (API) to alter its in-house payment infrastructures, powered by the UNCDF.
The Open API by Airtel Uganda poses as an expansion scheme that gives the telecom giant an edge to impact the continental tech landscape with ideal innovation whereby seamless electronic payment solutions can rival other online bankers in the local market. A move to make electronic payment seamless, convenient, and instant while disbursing capital per the current trends in Uganda — a cashless policy the telecom service provider doesn’t want to miss for any reason.
Airtel’s director of IT Donald Twesiga confirmed his company’s commitment to serving the Ugandan market and is keen to accomplish more with the partnership the telecom giant co-signed with the United Nations Capital Development Funds (UNCDF) to promote financial inclusion to underserved populations.
The UNCDF is the UNs’ flagship catalytic financing entity for the world’s 46 Least Developed Countries (LDCs) and Uganda is enlisted in the UNCDF’s compiled list of economies with low standard of living. The UN has a non-profit capital reserve for distribution in Uganda to resolve the low financing in the state.
However, Airtel has the technology to disburse allocated cash to the Ugandan population which comprises individuals and businesses. Just like the telecom giant and the UN have projected, the FinTech API infrastructure is an integrated business tool for services incorporation that alters the distribution of capital, incentives, and other business transaction via the telecom payment API.
For context, the Open API Airtel launched in Uganda will make other local businesses and corporate entities access incorporation with the telecom service provider to integrate the API in their platforms serving as a payment gateway for seamless FinTech solutions.
Twesiga said that the Open API “also makes very clear and understandable documentation about the API, ensures API requests are authentic, automated, authorized, validated, cleansed, and can still be processed when the services are under load.” While Airtel Money will also be available for the API integration to send awareness about the availability of Airtel’s latest payment API solution.
The Open API by Airtel for the Ugandan populace will innovate financial inclusion in line with the cashless monetary policy that trends in the country. As the name implies, Open API serves as an open-source payment Infrastructure that allows ideal businesses and individuals to transact with integrated payment solutions.