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Background
Rwanda embraced a cashless economy by launching SmartCash®, a solution that ensures instant, interoperable transactions and boosts financial inclusion
Tasks
- Develop and deploy a secure, interoperable payment switch for instant P2P transactions
- Enhance fraud prevention and reduce processing times
- Ensure seamless integration with banks, fintechs, and mobile wallets
- Improve customer experience with transparent, real-time transactions
Business Impact
Lowered Digital Payment Costs
Achieved a 50% reduction in transaction costs for digital payments.
Accelerated P2P Adoption
Realized an 85% increase in instant P2P transactions, accelerating financial inclusion.
Enhanced Processing Efficiency
Attained 70% faster payment processing, significantly improving overall operational efficiency.
Strengthened Digital Ecosystem
Bolstered the digital payments ecosystem by increasing adoption across banks, fintechs, and mobile money providers.
Elevated Customer Experience & Revenue
Improved customer experience leading to higher engagement and retention, while creating new revenue opportunities for banks through increased transaction volumes.
Regional Leadership in Digital Innovation
Positioned Rwanda as a regional leader in digital payment innovation—boosting trust and transparency in electronic transactions and establishing a benchmark for scalable digital payment systems across Africa.
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