Interoperability of Digital Financial Services (DFS) in WAEMU

The project is designed with the objective of facilitating the interoperability of payments and transfers within the 8 countries in the region and across their borders. Interoperability is becoming important in most mature markets, where there is a diversity of DFS/MFS providers with meaningful market shares. These solutions enable transactions between accounts with these MNOs and their partner banks though this falls short of full interoperability which should result in transactions being possible across all accounts. This in turn will result in an increase of usage of mobile financial services, increased volume of transfers and ultimately reduced usage of cash.