MTN Mobile Money

MTN Mobile Money is a mobile money solution which operates in both Africa and the Middle East. Users can load their MTN Mobile Money accounts with cash at agent locations nationwide and then make domestic and international P2P money transfers, buy mobile phone top-up, purchase goods or pay bills. All transactions are completed securely by entering a PIN number.

The importance of offering alternative payments in these markets cannot be overstate. To take just two examples, over 60% of Nigerians are unbanked and 97% don’t have a credit card. In Yemen, just 6% of people have a bank account but almost 30% have Internet access. To sell in markets like these, you must support alternative and locally preferred payment methods.

Other e-wallets that operate in these regions include UnionPay, BitPay, CashU and OneCard.

The benefits of offering e-wallets in Africa and the Middle East

  1. The e-commerce market in this region is growing at 30% a year.
  2. Over half of adults in this region are unbanked.
  3. Only 12% of the region’s consumers have a credit card.

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Type Wallet
Company behind LPM MTN Group / Orange Group
Market share details The MTN Group has 28.2 m mobile money subscribers according to the MTN interim financial results ending 30 June 2019. The largest markets are Ghana (8.3m), Uganda (6.3m), Cote d’Ivoire (2.9m), Cameroon (2.4m) and Rwanda (2.2m).
Market relevance Medium

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