Payment methods in Angola
Financial inclusion rose from 32% in 2019 to 47% in 2023, driven by mobile payments and fintech.
Market takeaways
- Financial inclusion rose from 32% in 2019 to 47% in 2023, driven by mobile payments and fintech.
- Mobile POS payments are the largest digital payments segment, projected at US$5.55B in 2024.
- The government and Banco Nacional de Angola (BNA) are introducing supportive regulatory frameworks for fintech.
- Angola's young, tech-savvy population and growing mobile penetration are key growth drivers.
- Cash remains dominant in the informal economy, which represents a significant share of the overall economy.
Population
~36M
Online population
~16M
Banked population
~47%
Mobile Money Penetration
~30% of adults
Credit card population
~5%
Payment method breakdown
- Cash55%
- Mobile Payment25%
- Card12%
- Bank Transfer7%
- Other1%
Card scheme breakdown
- Visa50%
- Mastercard40%
- Local Schemes (Multicaixa)10%
- Other0%
Cross-border e-commerce
Market data coming soon.
Featured payment methods in Angola
Popular options based on coverage and prominence in this market.
Multicaixa Express
Multicaixa Express is Angola's primary digital payment platform, operated by EMIS (the interbank services company). It enables mobile payments, P2P transfers, bill payments, and merchant QR payments via the banking system. It is the most widely used cashless payment method in Angola.
Unitel Money
Unitel Money is the mobile money service offered by Angola's largest mobile operator. It provides P2P transfers, airtime top-up, bill payments, and basic financial services to mobile subscribers, targeting the unbanked population.
TUPAY / AfricaPay
A growing set of Angolan fintech startups offer digital wallets and payment gateway services for merchants, e-commerce, and business-to-business payments. The regulatory framework introduced by BNA has facilitated their licensing and operations.
All payment methods in Angola
Discover 3 payment methods from around the world
Featured banks in Angola
Major institutions operating in this market.
Standard Bank South Africa
Johannesburg, South Africa
Standard Bank is Africa's largest bank by assets, offering retail, SME, corporate, investment, and private banking across 20 African countries.
Caixa Geral de Depósitos (CGD)
Lisbon, Portugal
Caixa Geral de Depósitos (CGD) is Portugal's largest bank and a state-owned institution, offering retail, commercial, and investment banking across Portugal and internationally.
Millennium BCP
Lisbon, Portugal
Millennium BCP (Banco Comercial Português) is Portugal's largest privately held bank, with operations in Poland, Mozambique, and Angola.
BPI (Banco BPI)
Porto, Portugal
Banco BPI is a major Portuguese bank, a subsidiary of Spain's CaixaBank. It offers retail, corporate, and investment banking with strong presence in Angola and Mozambique.
Other Banks — Angola
Luanda, Angola
Aggregate of remaining banks in Angola, collectively ~100.0% of domestic banking assets.
All banks in Angola
Showing 5 of 5 banks
