MoMo from MTN
MoMo from MTN is MTN Group's mobile money platform operating across 17 African countries and Afghanistan, serving unbanked and underbanked individuals with transfers, bill payments, cash-in/out, airtime purchases, merchant payments, and cross-border remittances via USSD, app, and partner bank integrations.
- Company typePrivate
- Founded-
- HeadquartersLagos, Nigeria
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What MoMo from MTN does
MoMo from MTN is the mobile money and digital payments brand of MTN Group, operating across 17 countries in Africa and Afghanistan. The platform enables unbanked and underbanked individuals to transfer money, pay bills, deposit and withdraw cash, purchase airtime, and conduct merchant transactions via USSD (*156#), SMS, and a mobile application. Core technology is a SIM-based mobile wallet backed by PIN-based authentication (4-5 digit PIN with 3-attempt lockout) and bank/identity system integrations (including BVN and NIN in Nigeria) for tiered KYC-based wallet limits. The product suite is segmented into MoMo Consumer (personal wallets), MoMo Business (merchant services), MoMo Agents (cash-in/cash-out agent network), MoMo International Transfer (cross-border remittance), and MoMo Payment Service Bank (a fully CBN-licensed bank in Nigeria). A MoMo API allows third-party developers to integrate payments and transfers.\n\nMoMo operates through locally incorporated subsidiaries in each market, including MoMo Payment Service Bank in Nigeria, MobileMoney Limited in Ghana, Mobile Money Rwanda Limited in Rwanda, Lonestar Cell MTN Mobile Money Inc. in Liberia, MTN Mobile Money S.A. in Guinea, and MTN Mobile Money (Zambia) Limited. The distribution model is anchored on MTN's telecom infrastructure and subscriber base, supplemented by an authorized agent network, merchant POS, and 30+ partner banks that enable cash-in/cash-out and wallet services. The go-to-market is primarily channel-partner driven: agents and merchants on the front line, banks for cash access, and telecom-native channels (SMS, USSD) for engagement and onboarding.\n\nRevenue is generated primarily via transaction fees on transfers, withdrawals, bill payments, and airtime purchases, with pricing varying by country and transaction type. The model is a pay-as-you-go, take-rate structure with specific fee schedules not publicly disclosed. Customer segments are primarily individual consumers (long tail), with secondary segments including merchants, agents, small businesses/corporates (wallet management, payroll, bulk payments), and remittance customers. The platform integrates with national identity systems for KYC compliance and employs fraud detection and anomaly monitoring mechanisms across multiple jurisdictions.
MoMo from MTN firmographics
Firmographics- Name
- MoMo from MTN
- Legal name
- MoMo Payment Service Bank (Nigeria), MobileMoney Limited (Ghana), Mobile Money Rwanda Limited, Lonestar Cell MTN Mobile Money Inc. (Liberia), MTN Mobile Money S.A. (Guinea), MTN Mobile Money (Zambia) Limited
- Website
- https://momo.mtn.com
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- MoMo from MTN is MTN Group's mobile money platform operating across 17 African countries and Afghanistan, serving unbanked and underbanked individuals with transfers, bill payments, cash-in/out, airtime purchases, merchant payments, and cross-border remittances via USSD, app, and partner bank integrations.
- Ownership category
- akta.pro rank
MoMo from MTN industry classification
Industry- Product category
- Mobile Money / Mobile Financial Services
- NAICS
- Wired and Wireless Telecommunications Carriers (except Satellite) (51711)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Carrier Billing & Telco Mobile Money (FSAMAEAD)
Keywords
Where MoMo from MTN is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices5 records
Markets served
MoMo from MTN business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Transaction Fees: Fees charged on mobile money transactions including transfers, withdrawals, bill payments, and airtime purchases. Fee schedules vary by country and transaction type, available at service centers, agents, and call centers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Tiered KYC-based wallet limits with varying transaction caps |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels4 records
MoMo from MTN product offering
Product offeringCore offering
MoMo from MTN is a mobile money platform that enables users to transfer money, pay bills, deposit and withdraw cash, and purchase airtime via USSD short codes, SMS, and a mobile app. It serves unbanked and underbanked individuals, merchants, and agents across 17+ African countries plus Afghanistan through a multi-country licensed network of local operating subsidiaries.
Product overview
MoMo from MTN is a multi-country mobile financial services platform operated by MTN Group across 17+ markets in Africa and Afghanistan. The core offering is MoMo (Mobile Money), a transactional mobile wallet enabling money transfers, payments, deposits, withdrawals, and airtime purchases via USSD and app. The platform is organized into distinct customer-facing segments: MoMo Consumer (personal wallets), MoMo Business (merchant services), MoMo Agents (agent network), and MoMo International Transfer (cross-border remittances). In Nigeria, MoMo also operates as MoMo Payment Service Bank (PSB) — a fully licensed Payment Service Bank under CBN regulation — offering broader financial services including savings and deposits. A dedicated MoMo API enables third-party developers to integrate with the platform. The product is primarily accessed via USSD (*156# and similar codes), SMS, and mobile app, and integrates with partner banks and national identity systems (BVN, NIN) for KYC compliance.
Differentiator
Problem solved
Functional benefit
Products and services
- MoMo (Mobile Money) MTN's flagship mobile financial services platform enabling users to transfer money, make payments, deposit and withdraw cash, and purchase airtime directly from their mobile phone via USSD or app. Accessible across 17+ African countries and Afghanistan.
- MoMo Consumer (Personal) Individual consumer-facing Mobile Money wallet for personal use, allowing money transfers, bill payments, airtime purchase, and savings management via mobile phone.
- MoMo Business Business-facing Mobile Money services enabling businesses to accept MoMo payments, manage transactions, and access merchant tools for collections and disbursements.
- MoMo Agents Agent network services enabling authorized agents (retailers, agents, merchants) to facilitate cash-in (deposits), cash-out (withdrawals), and other Mobile Money transactions on behalf of MTN.
- MoMo International Transfer (Remittance) Cross-border remittance service enabling international money transfers to and from MTN MoMo markets, allowing users to send money across country borders.
- MoMo Payment Service Bank (MoMo PSB) Fully CBN-licensed Payment Service Bank in Nigeria offering enhanced Mobile Money services including deposits, withdrawals, transfers, bill payments, and savings, operating with full banking license under Nigeria's regulatory framework.
- MoMo API Developer-facing API platform enabling third-party developers and partners to build applications that integrate with MoMo Mobile Money services for payments, transfers, and other financial transactions.
Companies that use MoMo from MTN
Customer profileSegments4 records
Ideal customer profiles4 records
MoMo from MTN technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration35 records
AI capability1 record
Feature3 records
MoMo from MTN partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core.
- KCB Bank RwandacorePartner bank in Rwanda enabling wallet services, deposits, and withdrawals. Part of Mobile Money Rwanda Limited's network of banking partners supporting financial inclusion.
- I&M Bank RwandacorePartner bank in Rwanda providing banking integration for MoMo wallet services and transaction settlement.
- Bank of KigalicoreMajor banking partner in Rwanda supporting mobile money banking services and financial transactions.
- Ecobank Ghana LimitedcorePan-African bank partner in Ghana enabling wallet services and banking integration for Mobile Money Ltd.
- Fidelity Bank GhanacoreGhanaian bank partner providing banking services integration with MoMo mobile money platform.
- Guaranty Trust Bank GhanacoreGTBank partnership enabling banking services for MoMo customers in Ghana.
- Stanbic Bank GhanacoreBanking partner providing financial integration services for Ghana MoMo operations.
- Access Bank GhanacorePartner bank in Ghana supporting mobile money banking services.
- Central Bank of Nigeria (CBN)coreRegulatory body that licenses and regulates MoMo Payment Service Bank operations in Nigeria. Provides the e-money issuance framework and KYC guidelines.
- Bank of GhanacoreRegulatory authority overseeing mobile money operations in Ghana, setting transaction limits and KYC requirements.
- National Bank of Rwanda (BNR)coreRwanda's central bank regulating mobile money services and providing dispute resolution mechanisms.
- Lonestar Cell MTN (Liberia)coreMTN Liberia subsidiary operating mobile money services as Lonestar Cell MTN Mobile Money Inc., providing telecommunications infrastructure and subscriber base.
- MTN Rwandacell Plc (Rwanda)coreMTN Rwanda entity providing mobile network infrastructure for Mobile Money Rwanda Limited services.
- MTN Ghana (Scancom PLC)coreMTN Ghana operating company providing network and subscriber infrastructure for MobileMoney Limited.
- MTN Nigeria CommunicationscoreMTN Nigeria providing customer data and mobile network infrastructure for MoMo PSB wallet registration and validation.
Scale indicators1 record
Recent moves6 records
Expansion highlights5 records
MoMo from MTN competitors and assessment
Company assessmentDirect peers
- Orange Money (Orange / Orange Bank Africa): Telco-anchored mobile money service operated by Orange across multiple Francophone African markets where MoMo also operates (Cameroon, Côte d'Ivoire, Guinea, DRC-adjacent). Direct competitor in shared markets with comparable USSD-based wallet, agent network, and cross-border remittance offerings.
- Airtel Money (Airtel Africa): Airtel Africa's mobile money service operating across many of the same Sub-Saharan markets as MoMo (Nigeria, Uganda, Zambia, Rwanda, Congo, Malawi, Tanzania, etc.). Competes head-to-head with MoMo on transaction fees, agent network coverage, and cross-border remittances.
- EcoCash (Econet Wireless / Cassava Smartech): Telco-anchored mobile money platform operated by Econet Wireless across Zimbabwe and other African markets. Closely comparable to MoMo as a mobile network operator subsidiary offering USSD-based wallets, merchant payments, and remittances to unbanked populations.
- Wave (Wave Mobile Money): Fast-growing mobile money challenger operating across Senegal, Côte d'Ivoire, Mali, Burkina Faso, The Gambia, Guinea, and Uganda — overlapping with multiple MoMo markets. While not a telco subsidiary, Wave competes directly on the same unbanked consumer segment with a low-fee P2P wallet and agent network.
- M-Pesa (Safaricom / Vodacom / M-Pesa Africa): The original telco-anchored mobile money platform, operated by Safaricom in Kenya and rolling out across Vodafone/Vodacom Africa markets. Most directly comparable to MoMo as a telco subsidiary offering USSD-based wallets, agent networks, and cross-border remittances targeting unbanked populations.
Emerging players
- Chipper Cash: Pan-African digital payments and cross-border remittance fintech operating in Nigeria, Ghana, Uganda, Kenya, South Africa, and the UK. Partial overlap with MoMo on remittances and merchant payments, but serves a more digitally native urban/SMB segment.
- Flutterwave: Pan-African payment infrastructure provider enabling merchants to accept and disburse payments across 30+ African countries. Adjacent to MoMo on the merchant/developer side but focused on cross-border business payments rather than consumer wallets.
- Paga: Nigerian mobile money and payments platform founded in 2009, offering agent banking, merchant payments, and developer APIs. Comparable to MoMo in Nigeria on agent-based cash-in/cash-out and unbanked customer targeting.
- OPay: Nigerian-led mobile payment and fintech super-app offering wallets, transfers, merchant POS, lending, and ride-hailing payments. Directly competitive with MoMo PSB in Nigeria and increasingly expanding across West Africa.
Broad incumbents
- MTN Rwanda / MTN Ghana / MTN Nigeria (parent operating companies): MTN Group operating companies that provide the telecom infrastructure, subscriber base, and regulatory interfaces enabling MoMo. Not external competitors but rather the parent-side infrastructure providers whose own strategy and capex directly determine MoMo's growth ceiling.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
MoMo from MTN social profiles
Digital presenceMoMo from MTN financial estimates
Financial estimateRevenue estimate
Valuation estimate
MoMo from MTN leadership team
Management profileNumber of profiles
MoMo from MTN funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MoMo from MTN M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MoMo from MTN
What does MoMo from MTN do?
MoMo from MTN is a mobile money platform that enables users to transfer money, pay bills, deposit and withdraw cash, and purchase airtime via USSD short codes, SMS, and a mobile app. It serves unbanked and underbanked individuals, merchants, and agents across 17+ African countries plus Afghanistan through a multi-country licensed network of local operating subsidiaries.
Is MoMo from MTN a public or private company?
MoMo from MTN is a private company. It is classified as corporate owned and is currently operating.
When was MoMo from MTN founded?
MoMo from MTN was founded in -1. It employs 501 to 1,000 people.
Where is MoMo from MTN based?
MoMo from MTN is headquartered in Lagos, Nigeria, in the Africa region.
How does MoMo from MTN make money?
One revenue line is on record: transaction Fees.
Who are MoMo from MTN's main competitors?
Direct peers on record are Orange Money (Orange / Orange Bank Africa), Airtel Money (Airtel Africa), EcoCash (Econet Wireless / Cassava Smartech), Wave (Wave Mobile Money) and M-Pesa (Safaricom / Vodacom / M-Pesa Africa). Emerging players are Chipper Cash, Flutterwave, Paga and OPay. MTN Rwanda / MTN Ghana / MTN Nigeria (parent operating companies) is listed as a broad incumbent.
Does MoMo from MTN have an API?
Yes. MoMo from MTN exposes a public API. Developer documentation is at momo.mtn.com/api.
What industry is MoMo from MTN in?
MoMo from MTN's product category is Mobile Money / Mobile Financial Services. Its primary akta.pro industry code is FSAMAEAD, Carrier Billing & Telco Mobile Money. Its NAICS code is 51711 and its SIC code is 6199.