New 2024 Report: Payments and E-Commerce in Africa

Provided by MTN Group, one of the largest telecom companies across Africa and the Middle East, MTN MoMo became a market leading in payments in multiple African markets. With over 73 million active users, MTN MoMo is processing more than 1.4 billion payments with a value of over 22.5 billion USD every months. MTN Mobile Money user base is moreover growing 30% year over year.

MTN MoMo enables users to a wide range of financial- and payment services directly from their mobile phone. They can send money to family and friends (peer-to-peer), buy airtime, pay bills for utilities like electricity, water and internet, and even receive government payments such as social benefits and pensions right into their mobile wallet. MTN MoMo is particularly popular for making everyday purchases with merchants, both online and offline.

MTN MoMo significantly contributes to financial inclusion in a wide range of African countries by offering convenient and secure financial and payment services to millions of customers who might not have access to traditional banking or credit cards.

Including MTN Mobile Money in their online checkout allows international merchants to tap into and benefit from a large and expanding user base in rapidly growing markets, previously inaccessible to them.

Product features
  • Regions Africa
  • Countries Cameroon • (more countries coming soon)
  • Payment method type Digital Wallet
  • Refund Yes
  • Partial refund Yes
  • Recurring No
  • Chargeback risk No
  • Processing currencies EUR • USD • GBP
  • Settlement currencies EUR • USD • GBP