| Mojaloop | |
| Author: | Bill & Melinda Gates Foundation |
| Developer: | Mojaloop Foundation |
| Released: | 2017 |
| Repo: | https://github.com/mojaloop/ |
| Programming Language: | JavaScript, TypeScript |
| Engine: | Node.js |
| Website: | https://mojaloop.io/ |
Mojaloop is an open-source software project of the Mojaloop Foundation. The project is a reference model for creating interoperable payments platforms for digital financial providers intended to reduce the technical barrier of financial inclusion efforts.[1] It was created and released by the Bill & Melinda Gates Foundation’s Level One Project in 2017.[2] Moja is a Swahili word meaning "one".
Mojaloop is a collection of Node.js microservices.[3] There are multiple components for routing, clearing, and settling payments between digital financial service providers.[4] It uses the Interledger Protocol for facilitating payments.[5]
The earliest mention of Mojaloop by commercial entities was the announcement in 2018 by Orange Telecom Group and MTN to establish a new joint venture called Mowali which would implement the Mojaloop technology.[6] The joint venture was closed down in November 2022 due to lack of required approvals by the Central Bank.[7]
In 2019, Forbes covered the efforts to build a solution in Tanzania.[8]
The Mojaloop project was cited part of the Tanzania Instant Payment System (TIPS) which went began testing in June 2021 and was continuing with a close group test in early 2023.[9] The Central Bank of Tanzania mentions TIPS in 2020.[10]
In June 2022, Mojaloop announced the creation of the Central Bank Digital Currency (CBDC) Center of Excellence in Singapore.[11]
Mojaloop implements payments in a flow including verification and lookup of destination account, quote, payments push and done via RESTful APis. Design documents provide documentation to implementing entities.[12]
The Mojaloop Foundation is a US based charity, headquartered in Massachusetts, with expenses of $2.2 million in 2020.[13]
Grants from Bill and Melinda Gates Foundation to Mojaloop include $4.7M in 2020 and $8.5M in 2023.[14] [15]