Telecom-Led Mobile Money Platforms Expand Financial Services; QR Payments Accelerate Merchant Acceptance
African Mobile Payments Market
Dublin, Aug. 13, 2026 (GLOBE NEWSWIRE) — The “Africa Mobile Payments Market Size & Forecast by Transaction Value and Volume Across 70+ KPIs by Payment Method, Transaction Type, Merchant Category, Consumer Demographics, and Geography – Databook Q2 2026 Update” has been added to ResearchAndMarkets.com’s offering.
The Africa mobile payments market is forecast to grow by 22.0% annually to reach US$198.8 billion in 2026. Following a compound annual growth rate of 27.8% between 2021 and 2025, the market is expected to record a CAGR of 16.8% from 2026 to 2030. Transaction value is projected to increase from US$162.9 billion in 2025 to approximately US$370.5 billion by 2030.
Market expansion is being driven by telecom-led mobile money ecosystems, real-time payment infrastructure, greater merchant acceptance, rising smartphone penetration, and continued investment in fintech platforms. Regulatory initiatives supporting interoperability and non-bank financial services are also improving access to digital payments across Africa.
Telecom-Led Mobile Money Platforms Expand Financial Services
Telecom operators continue to lead the Africa mobile payments market, particularly in Kenya and Ghana. These platforms are expanding beyond transfers into credit, savings, insurance, bill payments, and merchant services. Safaricom has strengthened the M-Pesa ecosystem through products including Fuliza and M-Shwari, while MTN Ghana has added microloans and merchant payment capabilities to its MoMo platform.
High mobile penetration and limited access to conventional banking infrastructure have established telecom operators as important financial access channels. Partnerships between telecom providers and banks are expected to deepen as mobile money platforms compete more directly in retail lending, savings, and payments. This expansion may support greater financial inclusion while increasing regulatory attention on lending practices, data security, and consumer protection.
Interoperability and Real-Time Payments Reshape the Market
African countries are investing in payment infrastructure that connects mobile money providers, banks, and fintech companies. Nigeria’s instant payment rails support integrations with wallets such as OPay and PalmPay, while Egypt’s InstaPay facilitates transfers across participating accounts and payment channels.
Interoperability is reducing friction between previously fragmented payment networks and enabling faster transaction settlement. National payment switches will play an increasingly important role in domestic and cross-border payments. Regional initiatives, including the Pan-African Payment and Settlement System, are also expected to support payment connectivity across African markets.
QR Payments Accelerate Merchant Acceptance
QR-based payments and agent networks are helping small merchants adopt digital payments without investing in costly point-of-sale infrastructure. In Kenya, Lipa na M-Pesa remains widely used by formal and informal retailers. South African banks, including Standard Bank and First National Bank, have expanded QR payment capabilities through their mobile banking platforms.
Merchant payments are expected to represent a growing share of mobile transaction volume, particularly in urban markets. Standardized QR infrastructure, lower onboarding costs, and bundled financial services will support adoption. Rural growth, however, is likely to remain closely linked to agent network coverage and cash-conversion services.
Fintech Wallets Gain Ground in Urban and Digital Commerce Markets
Fintech-led wallets are expanding through bill payments, airtime purchases, merchant checkout, and agent distribution. OPay and PalmPay are scaling across Nigeria, while Fawry has developed a broad digital payments network in Egypt. These providers are targeting smartphone users, online shoppers, small businesses, and merchants seeking integrated payment services.
Competition between telecom operators, banks, and fintech companies is expected to intensify over the next two to four years. Telecom-led platforms will retain substantial scale, but fintechs and banks are positioned to gain market share in merchant payments and digital commerce. Smaller providers may face consolidation as compliance requirements and customer acquisition costs increase.
Africa Mobile Payments Market Competitive Landscape
Partnerships, infrastructure investment, and regional expansion are shaping competitive strategies. Safaricom has extended M-Pesa through its activities in Ethiopia, while MTN Group continues to develop its fintech operations and attract external investment. In Nigeria, fintech providers are partnering with banks to strengthen wallet-to-bank interoperability.
The competitive landscape is expected to become increasingly ecosystem-driven. Licensing requirements, consumer protection rules, fraud controls, and interoperability mandates may lower certain market-entry barriers while raising operational and compliance costs. Larger platforms are likely to pursue regional growth through partnerships, while new entrants focus on cross-border remittances, SME payments, and specialized merchant services.
Report Coverage
This bundled research offering provides a data-centric assessment of the Africa mobile payments market, supported by more than 70 KPIs, 500 tables, and 700 figures. It examines transaction value, transaction volume, average transaction value, user activity, merchant acceptance, payment infrastructure, consumer behavior, and revenue generation through 2030.
The package includes the following five reports:
- Africa Mobile Payments Market Business and Investment Opportunities Databook
- Egypt Mobile Payments Market Business and Investment Opportunities Databook
- Kenya Mobile Payments Market Business and Investment Opportunities Databook
- Nigeria Mobile Payments Market Business and Investment Opportunities Databook
- South Africa Mobile Payments Market Business and Investment Opportunities Databook
Market segmentation covers QR payments, contactless payments, app-based transfers, P2P, P2M, P2B, B2B, and B2P transactions. The research also evaluates retail, food and beverage, fuel, professional services, healthcare, education, entertainment, travel, hospitality, and transportation merchants.
Geographic analysis spans urban, semi-urban, peri-urban, and rural areas. Demographic coverage includes Gen Z, Millennials, Gen X, and older consumers. Infrastructure and performance indicators include active and registered users, transactions per user, transaction success rates, fraud rates, merchant acceptance, card infrastructure, wallet infrastructure, and acceptance networks.
Reasons to Buy
- Assess the size, growth outlook, and investment potential of the Africa mobile payments market through 2030.
- Compare payment methods, transaction types, consumer segments, merchant categories, and geographic markets.
- Benchmark telecom operators, fintech platforms, banks, payment processors, and merchant networks.
- Evaluate interoperability, real-time payments, smartphone adoption, digital identity, and financial inclusion trends.
- Track more than 70 KPIs covering transaction growth, user adoption, merchant acceptance, payment mix, and infrastructure performance.
- Support market-entry planning, financial modeling, product development, partnerships, and regional expansion strategies.
The report is designed for banks, telecom operators, fintech companies, payment processors, merchants, investors, and policymakers seeking decision-ready intelligence on Africa’s rapidly evolving mobile payments ecosystem.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 870 |
| Forecast Period | 2026-2030 |
| Estimated Market Value (USD) in 2026 | $198.8 Billion |
| Forecasted Market Value (USD) by 2030 | $370.5 Billion |
| Compound Annual Growth Rate | 16.8% |
| Regions Covered | Africa |
For more information about this report visit https://www.researchandmarkets.com/r/4mxm6l
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ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
- African Mobile Payments Market
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