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Mobile Money Interoperability in Bolivia

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Background

In 2012, Tigo launched mobile money services in Bolivia with a goal of promoting financial inclusion. The country’s mobile money ecosystem is characterized by multiple players, including Tigo, Entel, and other banks.

Key Milestones

2016: Tigo becomes the first mobile money provider to be granted an e-money license in Bolivia.
September 2016: Tigo launches its interoperability service, allowing users to transfer funds between different financial institutions using a common platform (ACCL).
Despite a 15% year-on-year increase in transaction volumes from 2015 to 2016, cash withdrawals remain the preferred method of payment.

Challenges and Opportunities

Asymmetric Commercial Agreement Framework

The commercial agreement framework is asymmetric, with Tigo facing high transaction costs and limited access to governance. To drive adoption, Tigo plans to:

Promote interoperability through targeted marketing campaigns.
Improve user experience by introducing a “pull” feature that allows customers to request funds from their bank account directly from the mobile money app.

Regulators’ Optimism

Regulators are optimistic about the potential of A2B and B2A interoperability to boost financial inclusion in Bolivia.

Next Steps

2018: Entel, the fourth mobile money player in Bolivia, is granted an e-money license, paving the way for full interoperability between all financial and non-financial institutions.
The country’s next big step is to move beyond account-to-account interoperability by allowing unrestricted access to ATM and POS networks across the country.

Lessons for Other Markets

Market-Led Interoperability Agreements

Bolivia’s market-led interoperability agreements demonstrate that collaboration between mobile money players, banks, and regulators can lead to successful implementation of mobile money services.