Mobile money phenomenon in Rwanda and the best way to penetrate the Rwandan market
Rwanda has been on a sudden financial rise ever since the end of the unfortunate times that crippled their economy in 1994. Rwandans are now generally living healthier and wealthier lives with poverty rates falling rapidly.
One of the biggest boosts of the country's upturn was the embracing of mobile money into the national market. The surge in number of phones and the acceptance of using these mobile devices to facilitate money movement has propelled development in all aspects of the country in a generic sense.
Major players in the Rwanda mobile money industry
MTN mobile money
The above are the main players in an otherwise diverse array of mobile payment alternatives and businesses are advised to look at associating with MTN when venturing into Rwanda’s economy because of it's overall dominion as the stats portray MTN having an overwhelming 60% share of the mobile money market in the nation (numbers don't lie). http://www.mtn.co.rw/Content/Pages/393/MTN_Rwanda_deepens_financial_inclusion_with_Mobile_Money_regional_remittance
NB. Businesses outside Rwanda face a challenge of having different payment systems they transact using; the issue being the barrier of interoperability of mobile money - the ability of the user of one mobile money service to transact directly with users on another pay system.
Africa’s way out on ensuring mobile payment interoperability
Dusupay provides the innovation for businesses abroad to be able to pay out and receive payments with MTN mobile money Rwanda as it handles the inter-pay transactions between the two payment systems therefore smoothening business operations in Rwanda with the world at large. http://blog.dusupay.com/online-payments-in-rwanda/