Ghana has been putting in efforts in an attempt to transform its economy from a cash-driven one into a cashless society and economy. Since the introduction of MTN Mobile Money (MoMo), other similar platforms have sprung up; all to facilitate the cashless economy agenda. At the forefront remains MTN who recently made their MoMo API available for developers in Ghana. This article would briefly discuss the MTN MoMo API and the future of Ghana’s fintech industry.

MTN MoMo API and the future of Ghana’s fintech

Developers and designers have one thing in common. They love to save time. And if saving time means they have to rely on APIs or mockups and templates then, there’s no argument to be had there. For developers, especially, who want to design systems with a mobile money integration, there’s no better news than knowing that the MTN MoMo API has been made available for them to build their innovative technology on.
As MTN Ghana and its legion of Mobile Money users commemorate this year’s edition of MTN MoMo Month, it is imperative to go back in time to take a look at the significance of the telecommunications giant making the MTN MoMo API available for developers in Ghana.
With this turn of events, developers will no longer need to integrate with other payment aggregators, or even endure bureaucracy with MTN before being able to integrate MTN Mobile Money into their applications since it has assumed an open-source sort of status for Ghanaian developers.
With the MTN Mobile Money API, programmers can now easily develop solutions for performing the following functions:

  • Disbursement of funds — automatically deposit funds to multiple Mobile Money accounts in one transaction.
  • Making remittances — this functionality would allow developers to build solutions with which users in the diaspora can easily remit funds to recipients based locally.
  • Collection of payments — build an application with which revenue collectors can automatically and remotely collect bills, taxes, and other forms of fees.
  • Collection Widget — this would allow for the receipt and approval of Mobile Money transactions via your website, by scanning a QR Code.

Want access to the MTN Mobile Money API?

This summarises the steps to follow in order to be able to access the API:

1. Sign up for an account

To do this, visit https://momodeveloper.mtn.com/ and create your account. Verify your account once it’s created, and sign in to the developer dashboard.

2. Get your product subscription key

Subscribe to the product your application would use (Disbursement, Remittances, Collections, or Widget). You’ll get a primary subscription key, as well as a secondary subscription key (in your developer dashboard) once you’ve subscribed.


3. Create an API user

You’ll then have to create an API user, as the MTN Mobile Money API heavily relies on uniquely identifying ID’s (UUIDs).

4. Generate your API key

Using the reference ID generated in the previous step, create an API key.

5. Generate a secure JWT token

To generate your token (which is the final step in the authenticating process), you would have to make an authenticated request to the product endpoint.

6. Make authenticated API requests

By this point, you should have a valid JWT token. With that, you’ll be able to interact with most of the API endpoints. For example, you can make remittances to mobile money accounts after collecting payments, and much more.

To conclude…

As Mobile Money Limited together with the teeming masses who use the platform commemorate MoMo Month, it is important to cast our minds back in remembrance of how far the fintech industry in Ghana has come. From Sika Card — in the beginning — to now; Ghana has been on a quest, and MTN MoMo has been an ever-present inspiration since 2009.
For stories of this sort and more, do well to log on to www.jbklutse.com or visit us on Facebook. To report a typo, email the editor: press@jbklutse.com.


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