While mobile money services exist in nearly 100 countries, 1.4 billion people still lack access to digital financial services, despite most owning a mobile phone, according to the World Bank's Global Findex. By providing a model for how to simplify and reduce the cost of designing interoperability between individual payment services, countries working with the banks, and mobile money and digital payment providers can develop connected instant payment systems that meet the digital financial services needs of emerging markets - especially the financially excluded.

Built upon the Interledger protocol, Mojaloop is an open source platform for helping hub operators with instant payments clearing. Mojaloop's API protocol does more than just move money: the software helps network participants to interact robustly with each other, helping to bring some financial inclusion principles to life.

Mojaloop is reliant on its community of supporters, contributors, evangelists, developers, and others to make its work possible and help achieve the Foundation’s mission of providing universal financial inclusion to all. This session will go into detail about Mojaloop’s work with Interledger’s Rafiki API work and the need to upgrade to Interledger v4.