Mojaloop is different from other promising digital financial services and systems because it is a model that is available to any company at no cost, and it is designed to enable total interoperability. In particular, Mojaloop:
Uniquely Addresses Financial Inclusion:
Designed with eight core principles that outline how to build an inclusive, interoperable digital payments platform on a large scale. These principles echo and stand alongside those drafted by the World Bank, G20 and other international organizations committed to digital financial inclusion – including push payments and immediate funds transfer, same-day settlement and open-loop relationships between accredited participants.
Unlike Cryptocurrency:
Mojaloop uses national currencies, interconnects financial services providers in a country or region-wide payments system, and includes attribution of transactions to customers so that customer history can be built and so that anti-money-laundering and fraud detection mechanisms can be run.
Unlike Proprietary Digital Financial Services:
Mojaloop open source software enables customers of any provider to transact with other customers of another provider.