This case is only available in Dutch 🇳🇱
Mopé
Online payment convenience in Suriname
Achieved
results
- Thousands of wallets opened after going live
- The development of Mopé contributes to the UN and World Bank goals of financial inclusion
- The innovative nature of Mopé solves some major problems in Suriname's financial ecosystem
Online payment convenience in Suriname
On behalf of Hakrinbank, we launched the mobile wallet Mopé in Suriname. Users can use the app to make and receive payments by scanning a QR code or by sharing a payment request. This solution gives all residents of Suriname direct access to the digital financial system, including the (many) residents without bank accounts.
Online payment convenience for everyone in Suriname
By far the majority of transactions in Suriname are currently handled in cash. Many stores have ATM machines, but due to high fees charged by guest banks, you often see multiple ATM machines on the counter. There are also many residents of Suriname who do not have bank accounts or access to the digital financial system.
Research shows that 75% of the population would like the ability to pay online. Mopé, named after a Caribbean fruit, provides the solution here. Since smartphone use is very high in the country, the mobile app is used as the basis for being able to pay and receive payments. A bank account is not required for this purpose. Mopé users can make payments to each other in real time. Payments can also be made with Mopé in many stores and a special edition of Mopé is available for large retail chains and wholesalers. Starting in early 2020, it will also be possible to make payments online in app and online stores with Mopé.
Mopé in practice
Anyone in Suriname with an Android smartphone or an iPhone can download the Mopé app. The registration process is simple. Your phone number is your Mopé account number and is validated with an SMS message. Then you take a picture of your ID card or passport and then a selfie. That combination is sent to the Mopé system where a check is made partly automatically, and partly manually, that all the data is correct. At that point, the user can make and receive payments! In the app, the user creates a payment request. This can be displayed as a QR code that can be scanned by another Mopé user. The payment request can also be shared via WhatsApp, for example. A click on the message then takes the user directly to the payment page in the Mopé app.
What is special about Mopé is that the money comes into the digital wallet and not directly into the user's bank account. This gives the user immediate access to the money. Payouts from the wallet can be made to a bank account or the user can have the wallet paid out in cash.Also special about the Mopé solution is the special app for staff of large retail chains and wholesalers. They have access to a read-only wallet where a payment request can be made, but no payments can be made.
Since 2020, it has also been possible to use Mopé from the Netherlands. From the Netherlands, users can recharge their Euro wallet and transfer this money in real time to a Surinamese wallet in SRD, with the currency exchange being arranged by Mopé.In the first months after going live, several thousand wallets have already been opened and the number of participants, both consumers and retailers, is growing rapidly. There are still many developments in the pipeline!
Financial inclusion
Hakrinbank is contributing with Mopé to the goals of the UN and the World Bank regarding financial inclusion. The World Bank's call is "Universal Financial Access by 2020." With the high smartphone usage in the country, almost everyone in Suriname has access to the financial system with Mopé. An additional advantage is that Hakrinbank can engage a large hitherto unknown group of, new users.
Mopé is built on state-of-the-art secure cloud technology. The innovative nature of Mopé solves some major problems in Suriname's financial ecosystem, such as reaching "the unbanked," secure online payments and reducing cash transactions.
Collaboration
This project came about through a pleasant and intensive collaboration with goeiePeer.nl, the design and innovation agency of Gertjan Rösken. Among other things, Gertjan stood at the cradle of iDEAL and was responsible for the first mobile banking app in the Netherlands, at Rabobank. With goeiePeer.nl he works on improving financial inclusion and helps companies to innovate using design thinking.
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