The Mojaloop Foundation has announced the appointment of digital payments platform PhonePe and enterprise blockchain solution provider Ripple to its board as Sponsor members, the highest level of the organization.
PhonePe’s Chief Executive Officer Sameer Nigam will be serving on the Mojaloop Foundation’s Board of Directors.
“If we want to make the world a more financially inclusive place, we need to work together, as institutions, governments and technology companies, to make payment systems interoperable,” said Sameer Nigam, CEO of PhonePe. “We are looking forward to collaborating with our fellow members to advance Mojaloop’s mission of financial inclusion. Together, we can help organizations understand how to build interoperable digital payment systems, provide low-cost access and feel confident in creating systems that work across borders.”
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The official communiqué stated that in the role as Sponsor members, the firms will be joining the Mojaloop Foundation Board of Directors and help the foundation in providing strategic vision, governance, and technical guidance to ensure the long-term health and growth of the Mojaloop open source software and development community.
The foundation also appointed new Promoter-level members to support the advancement of Mojaloop, including Giori Digital SA, a Swiss company that offers central banks with a unique digital banknote form of Retail Central Bank Digital Currency (CBDC) to drive greater access to safe currency for the underserved; and Sybrin, global payment solutions and financial services solutions provider.
“Mojaloop Foundation’s financial inclusion mission has resonated loudly with many organizations. We are very pleased to welcome our newest members, including PhonePe and Ripple as Sponsor members,” said Paula Hunter, executive director of the Mojaloop Foundation.
“We continue to advance and support Mojaloop open source software, collaborate with our community and hold convenings to serve as a path forward for organizations creating interoperable payments platforms to connect all digital financial providers and customers within an economy. We welcome any organization that has an interest in advancing digital financial inclusion to join the organization.”
“Our vision of universal financial inclusion is a world where everyone, everywhere, can access and use the digital financial services they need to build economic security and resilience,” said Kosta Peric, chair of the Mojaloop Foundation and deputy director of the Financial Services for the Poor program at the Gates Foundation.
“The work of the Mojaloop open source project will thrive with the talent, innovation and leadership from this dynamic and growing group of member organizations, in service of our shared mission to benefit underserved and low-income communities.”