Payment methods in Benin

Africa

3methods

2banks

Mobile money contributes more than 5% to Benin's GDP, reflecting deep integration in the economy.

Market takeaways

Mobile money contributes more than 5% to Benin's GDP, reflecting deep integration in the economy.
MTN Mobile Money and Moov Money are the leading providers.
Gozem acquired Moneex (Beninese fintech) and plans to expand mobile money services to Benin from Togo.
Approximately 20–21 fintech startups operate in Benin, with a focus on digital payments and remittances.
Benin is part of the WAEMU regional instant payment system shared with seven other West African nations.

Population

~14M

Online population

~6M

Banked population

~38%

Mobile Money Penetration

~45% of adults

Credit card population

~3%

Payment method breakdown

Cash50%
Mobile Money42%
Bank Transfer5%
Card3%
Other0%

Card scheme breakdown

Visa55%
Mastercard40%
Local Schemes5%
Other0%

Cross-border e-commerce

Market data coming soon.

Featured payment methods in Benin

Popular options based on coverage and prominence in this market.

Moov Money Benin

Moov Money provides mobile financial services to Moov subscribers in Benin, offering transfers, bill payments, and merchant payments. It competes with MTN MoMo across Benin's urban and semi-urban areas.

Gozem Pay

Gozem is a pan-African super app (ride-hailing, delivery, fintech) expanding its mobile money services into Benin following the acquisition of Moneex. It targets urban consumers with an integrated app experience combining transport, deliveries, and digital payments.

MTN Mobile Money (MoMo) Benin

MTN MoMo is one of Benin's leading mobile money services, providing P2P transfers, merchant payments, bill payments, and airtime top-up. Accessible via USSD and the MTN MoMo app. Part of the WAEMU interoperable mobile money network.