Mojaloop Service Provider Directory

Business Description

ThitsaWorks promotes financial inclusion for the unbanked in developing economies, partnering with over 80 financial institutions and serving more than 3 million underbanked clients. As WynePay’s designated hub operator in Myanmar, ThitsaWorks has extensive experience in scheme rules, governance, and operations including settlement, risk and dispute management. They’ve integrated over 20 digital financial service providers with Mojaloop and contribute to its product strategy. ThitsaWorks is a Promoter Member of the Mojaloop Foundation, serves on the Technical Governing Board, participates in the Product Council, and holds elected positions on the Community Council and Design Authority.

Workstreams

Significant Contribution Highlights

Development:

Merchant Registry: Version 1.0 is currently in the review stage for release. ThitsaWorks stands as the primary development contributor for this workstream. Contribution to the Merchant workstream began in April 2022.

vNext Core Engine Development: ThitsaWorks developers are actively engaged in implementation of the vNext core engine. Contribution to the vNext workstream has been ongoing since January 2023.

Foreign Exchange Module in vNext: Positioned as a sub-workstream of the Foreign Exchange initiative, ThitsaWorks developers are actively involved in implementation of the Foreign Exchange module within the vNext framework. Contribution to the FX in vNext workstream began in January 2024.

Localization: ThitsaWorks developers contribute in one of the Mojaloop workstream called “Localization” workstream. The purpose of this workstream is to make Mojaloop more accessible and appealing to users in different regions or countries by ensuring that it is easy to use. This localization effort can increase Mojaloop’s marketability and usability in different regions, leading to higher user satisfaction and potentially increased sales. Contribution to the workstream began in May 2024.

Technical documentation: ThitsaWorks developers are also working on API documentation, technical design documentation, and deployment instruction documentation to ensure comprehensive project documentation.

Business Analysis and Coordination: ThitsaWorks project managers and business analysts lead the business analysis and coordination efforts in the merchant payment and vNext core engine workstream and other workstreams.

Workstream Coordination: ThitsaWorks team members orchestrate collaboration among development, quality assurance, and product design teams, ensuring smooth workflow and timely project delivery.

Comprehensive Analysis: ThitsaWorks project managers and business analysts conduct thorough business and requirement analyses, facilitating project planning and execution strategies.

Contributions to Product Discussions: ThitsaWorks team members actively contribute to product-related discussions for vNext and merchant payment, leveraging expertise derived from hub operator and system integrator experiences.

Requirement specification and design specification: Business analysts and product designers from ThitsaWorks work on requirement specification documentation and design specification to ensure clear and effective communication of project requirements and design goals.

Quality Assurance (QA): ThitsaWorks QA Specialists are actively involved in ensuring the quality assurance of Foreign Exchange (FX) in vNext workstream, merchant payment workstream, and vNext core engine workstream. The QA specialists also conduct comprehensive performance testing of the system, including load testing and stress testing, to ensure its robustness and reliability under varying conditions.

DevOps: ThitsaWorks DevOps specialists are engaged in infrastructure-related support work for vNext, merchant payment, and FX in vNext.

Mojaloop Deployments

ThitsaWorks has valuable experience in implementing and managing WynePay, under the umbrella of the Myanmar Microfinance Digitization Project, a real-time payment platform designed to facilitate interoperable loan repayments and disbursements for Microfinance Institutions. This initiative is in collaboration with a multitude of stakeholders in Myanmar, including Digital Financial Service Providers (DFSPs), banks, and mobile money operators. One of WynePay’s key features is its ability to overcome challenges DFSPs encounter when integrating with various mobile money operators—notably the high costs associated with development and ongoing maintenance of such bilateral integrations.

Built on the open-source Mojaloop technology, WynePay serves as a reference model for inclusive, real-time payment systems. Mojaloop is aligned with Level One principles, emphasizing open-loop, real-time push payments, pro-poor governance structures, a not-for-loss business model, and collaborative investment in services like fraud prevention.

In addition, ThitsaWorks deployed Mojaloop in establishing hubs for the proof-of-concept projects such as Inclusive Cross-Border Remittances Project focusing on the Singapore-to-Philippines and Singapore-to-Myanmar corridors, funded by the Monetary Authority of Singapore, Regional Digital Retail Payments Platform for COMESA region, funded by the COMESA Business Council, and the National Payment Switches for South Sudan and Republic of Guinea.

Mojaloop Integrations

ThitsaWorks has successfully integrated Mojaloop with over 20 digital financial services providers using the following core banking and back-end systems, such as FLEXCUBE, Mifos, Musoni, Finflux, Mambu, and mGURUSH, etc.

Mojaloop Products

Thitsa Payment Portal, developed by ThitsaWorks, is a web-based platform integrated with Mojaloop. It enables financial institutions, especially those without core banking systems or with systems lacking API integration, to manage bulk transactions. Initially designed for Microfinance Institutions (MFIs) to handle digital bulk loan repayments and disbursements, the portal is now being enhanced for broader use cases.

Payment Technology Experience

Interledger Protocol (ILP)

Interledger Protocol (ILP) is an open protocol suite designed to facilitate payment transfers across diverse ledgers. Like the internet, ILP connectors route money packets through independent networks, enabling seamless transactions. Its open architecture and minimal protocol ensure interoperability for any value transfer system. ThitsaWorks is a proud recipient of the ILP-Based Financial Services Research and Development Grant, recognizing its contributions to advancing ILP-based financial solutions. ThitsaWorks is leveraging ILP technology to advance financial inclusion.

References

-Interledger Foundation (ILF)

-AfricaNenda Foundation

-COMESA Business Council (CBC)

-Myanmar Microfinance Association

-United Nations Capital Development Fund (Myanmar)

Mojaloop Training Courses