What Airtel Mobile Commerce BV does

Airtel Mobile Commerce BV (Airtel Money) is the mobile money subsidiary of Airtel Africa plc, a publicly listed telecommunications group on the London and Nigerian Stock Exchanges majority-owned by India's Bharti Airtel. The company operates the Airtel Money digital wallet across 14 sub-Saharan African countries — Nigeria, Kenya, Tanzania, Uganda, Zambia, Rwanda, DRC, Niger, Chad, Republic of Congo, Madagascar, Malawi, Gabon, and Senegal — serving a customer base of 54.1 million active users as of March 2026.

The core product is a digital wallet offering peer-to-peer money transfers, merchant payments, bill payments, microloans, savings, insurance, and international remittances. The platform processes approximately $196 billion in annual transaction value and is delivered through a network of 2.4 million active agents, 540+ Airtel retail stores, the MyAirtel and SmartCash self-service apps (used by nearly 50% of customers), and bank-POS partnerships with institutions such as Stanbic Bank Zambia and FNB Zambia. In November 2025, Airtel Money began deploying a cloud-native platform built on Comviva's mobiquity® Pay in Kenya, with planned expansion to additional markets to support a multi-product financial ecosystem. Strategic partnerships with Mastercard (also a minority equity investor), Ecobank, Western Union, Standard Chartered Bank, MoneyGram, and WorldRemit enable cross-border remittances and a virtual 'card-to-wallet' product.

The business model is transaction-fee based: Airtel Money monetizes the $196 billion in annual payment volume through fees on P2P transfers, merchant acceptance, and remittances, supplemented by recurring revenue from microloans, savings, and insurance products. In FY2026 the business generated $1.355 billion in revenue (+28.4% constant-currency growth) at a 50.8% EBITDA margin. The company is headquartered in Amsterdam, Netherlands, with the Airtel Africa parent group headquartered in London. A London Stock Exchange IPO of the Airtel Money unit is planned for H2 2026, targeting $1.5-2 billion in proceeds at a potential valuation of up to $10 billion, with prior third-party investment rounds from Qatar Investment Authority ($200M, 2021), The Rise Fund ($200M, 2021), Mastercard ($100M, 2021), and TPG ($200M for 7.5%, 2026) collectively validating a $2.65 billion valuation reference point.

Name

Airtel Mobile Commerce BV

Legal name

Airtel Mobile Commerce BV

Website

https://airtel.africa

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Airtel Mobile Commerce BV operates Airtel Money, a mobile money and digital wallet platform serving 54.1 million active customers across 14 sub-Saharan African countries, processing $196 billion in annual transaction volume through a 2.4 million-strong agent network. The business generated $1.355 billion in FY2026 revenue from transaction fees, microloans, and remittances, and is preparing for a 2026 IPO.

Ownership category

akta.pro rank

Product category

Mobile Money Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Credit Card Issuing (522210), Sales Financing (52222)

SIC

Finance Services (6199), Personal Credit Institutions (6141)

akta.pro primary industry

Carrier Billing & Telco Mobile Money (FSAMAEAD)

akta.pro secondary industries

Digital Wallet Platforms (Consumer & Merchant) (BPAMAFAC), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), International Bill Pay & Cross-Border Airtime/Top-Up (FSAGAKAM)

Keywords

• Mobile money services
• Digital wallet payments
• International money transfers
• Merchant payment solutions
• Microloan financial services

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D

Revenue model

1. Mobile Money Transactions: Airtel Money generates revenue primarily through transaction fees on peer-to-peer transfers, merchant payments, and bill payments across its 14 African markets. The service processed $196 billion in transaction value in 2025/26 with $1.355 billion in revenue.
2. Microloans and Financial Products: Airtel Money provides microloans to customers, enabling users to build credible payment history. The service also offers savings accounts, insurance products, and virtual card services.
3. International Money Transfers: Through partnerships with Mastercard, Ecobank, Western Union, Standard Chartered Bank, MoneyGram, and WorldRemit, Airtel Money facilitates cross-border remittances with revenue generated from transfer fees.
4. Merchant Services: Airtel Money generates merchant payment acceptance revenue through services like Airtel Money pay in Zambia and merchant wallet solutions targeting the informal sector.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Airtel Mobile Commerce BV operates the Airtel Money mobile money platform across 14 sub-Saharan African countries, providing a digital wallet for peer-to-peer transfers, bill payments, merchant payments, microloans, savings accounts, insurance products, virtual Mastercard card services, and international remittances through a network of 1.7 million active agents, 540+ Airtel stores, and self-service mobile apps. The platform serves 54.1 million active customers, processes $196 billion in annual transaction value, and is built on a cloud-native architecture from Comviva's mobiquity® Pay.

Product overview

Airtel Mobile Commerce BV (Airtel Money) operates as a multi-product financial platform offering mobile money services across 14 sub-Saharan African countries. The core product is the Airtel Money digital wallet, which provides peer-to-peer transfers, bill payments, microloans, merchant payments, savings, insurance, and international money transfers. The platform is complemented by the Airtel Money Mastercard virtual card for online shopping, the Airtel Money Pay merchant wallet for SMEs, the SmartCash Payment Service Bank subsidiary in Nigeria, and a network of physical Airtel Money branches and smart shops (Airtel Kila Kona). The platform processes $196 billion in annual transaction volume and serves over 54 million active customers.

Differentiator

Problem solved

Functional benefit

Brands

• MyAirtel App: Mobile self-service app for customer management and transactions
• SmartCash App

Products and services

• Airtel Money (Mobile Money Platform) Digital wallet payment platform providing peer-to-peer transfers, bill payments, microloans, merchant payments, savings, insurance, and international money transfers to over 54.1 million active customers across 14 sub-Saharan African countries.
• Airtel Money Mastercard (Virtual Card) Virtual Mastercard linked directly to the Airtel Money wallet, enabling customers to make online purchases at any merchant accepting Mastercard without requiring a traditional credit card.
• Airtel Money Pay (Merchant Wallet) Merchant payment wallet solution for SMEs and informal sector businesses, enabling them to accept Airtel Money payments and separate business from personal transactions without additional documentation.
• SmartCash Payment Service Bank Nigeria-based payment service bank subsidiary offering mobile money and digital financial services to Nigerian consumers and merchants.
• Okusevinga (Mobile-Money Unit Trust / Treasury Bills) Mobile-money-powered unit trust product enabling Ugandan citizens to invest in government Treasury Bills starting from UGX 10,000 through Airtel Money, licensed by the Capital Markets Authority of Uganda.
• Cloud-Native Mobile Money Platform (Comviva mobiquity® Pay) Cloud-native mobile money platform built by Comviva's mobiquity® Pay, enhancing scalability, security and feature integration to support a multi-product financial ecosystem across the Airtel Money footprint.

Quantifiable outcome

• 54.1 million Airtel Money customers as of March 2026 (+21.3% YoY growth)
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature1 record

Partnerships

19 partnerships are on record, tiered core, flagship and minor.

• Stanbic Bank ZambiacoreStrategic or Co-development Partner · 2 June 2026Partnership between Airtel Money and Stanbic Bank Zambia enabling customers to make mobile wallet payments on Stanbic Bank's POS machines, expanding digital payment solutions across the country.
• MastercardflagshipStrategic or Co-development Partner · 6 March 2026Strategic partnership with Mastercard enables Airtel Money customers to access virtual 'card to wallet' services, discover online shopping, and connect to the global economy through international money transfer services.
• EcobankcoreStrategic or Co-development Partner · 6 March 2026Partnership with Ecobank for international money transfer services, enabling Airtel Money customers to receive and send money internationally.
• Western UnioncoreStrategic or Co-development Partner · 6 March 2026International money transfer partnership with Western Union enabling cross-border remittances for Airtel Money customers.
• Standard Chartered BankcoreStrategic or Co-development Partner · 6 March 2026Partnership with Standard Chartered Bank for international money transfer services and financial inclusion initiatives.
• MoneyGramcoreStrategic or Co-development Partner · 6 March 2026International money transfer partnership with MoneyGram enabling Airtel Money customers to receive cross-border remittances.
• WorldRemitcoreStrategic or Co-development Partner · 6 March 2026Partnership with WorldRemit for international money transfer services, connecting Airtel Money customers to the global economy.
• FNB ZambiacoreStrategic or Co-development Partner · 5 November 2025FNB Zambia and Airtel Mobile Commerce launched Mobile Money on POS solution in Zambia, allowing Airtel Money customers to make direct mobile wallet payments at FNB POS terminals nationwide.
• VodacomminorStrategic or Co-development Partner · 1 August 2025Airtel Africa and Vodacom signed network infrastructure agreement to drive digital inclusion through shared infrastructure.
• Network InternationalcoreTechnology or Integration · 1 June 2024Airtel Africa tapped Network International for payments processing to enhance digital payment infrastructure.
• MTN GroupminorStrategic or Co-development Partner · 1 June 2024MTN Group and Airtel Africa agreed to network sharing in Uganda and Nigeria, enabling both companies to expand coverage and improve efficiency.
• American Tower Corporation (ATC)coreTechnology or Integration · 1 June 2024Airtel Africa renewed tower lease agreements with ATC for approximately 7,100 sites across Nigeria, Uganda, Kenya and Niger for a period of 12 years.
• CiscocoreTechnology or Integration · 1 February 2024Airtel Africa and Cisco partnership revolutionizing secure connectivity for businesses in Africa with Network-as-a-Service offering.
• FlutterwavecoreTechnology or Integration · 1 November 2021Airtel Money Flutterwave Partnership enabling payment integration and expanded digital payment services.
• MastercardflagshipStrategic or Co-development Partner · 1 September 2020Partnership with Mastercard and Samsung for Airtel Asante digital payment services launched in September 2020.
• MoneyGramcoreStrategic or Co-development Partner · 1 August 2020Airtel Africa partnership with MoneyGram for international money transfer services, later expanded in 2020.
• Standard Chartered BankcoreStrategic or Co-development Partner · 1 August 2020Standard Chartered and Airtel Africa announcement for international money transfer partnership.
• MukuruminorStrategic or Co-development Partner · 1 July 2020Partnership with Mukuru for international money transfer services to Southern Africa.
• Western UnioncoreStrategic or Co-development Partner · 1 January 2020Airtel Africa and Western Union collaboration for international remittances, launched in January 2020.

Scale indicators11 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• M-Pesa (Safaricom): M-Pesa is the pioneer and dominant mobile money platform in Kenya and Tanzania, serving 50M+ customers across East Africa. It is the most direct competitor to Airtel Money in overlapping markets like Kenya, Tanzania, Uganda, and DRC, with comparable agent-based distribution and digital wallet offerings.
• MTN MoMo: MTN Group's mobile money arm MoMo operates across West, Central, and Southern Africa with 60M+ active customers. It directly competes with Airtel Money in Nigeria, Uganda, Rwanda, Zambia, and several other overlapping markets, offering identical mobile wallet, P2P, and merchant payment services.
• Orange Money: Orange Money is the mobile money service of Orange Group operating across Francophone Africa and the Middle East, directly competing with Airtel Money in DRC, Senegal, and other West/Central African markets with comparable agent-based wallet services.

Peers

• Wave (mobile money):

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds4 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Airtel Mobile Commerce BV