Payment methods in Mozambique
Mobile money penetration exceeded 100% of the adult population by end of 2024 (multiple accounts per person).
Market takeaways
- Mobile money penetration exceeded 100% of the adult population by end of 2024 (multiple accounts per person).
- Three mobile wallets — M-Pesa, M-Kesh, and E-Mola — achieved full interoperability in 2022.
- Non-banking agents (224,704 by 2023) vastly outnumber bank branches (4.1 per 100,000 adults vs. 1,246 non-banking agents).
- M-Pesa processes ~80% of national GDP in transactions annually.
- Mozambique launched a National Financial Inclusion Strategy 2025–2031 targeting expanded digital financial access.
Population
~34M
Online population
~10M
Banked population
~33%
Mobile Money Penetration
~45% of adults (active)
Credit card population
~2%
Payment method breakdown
- Cash50%
- Mobile Money42%
- Bank Transfer5%
- Card2%
- Other1%
Card scheme breakdown
- Visa55%
- Mastercard40%
- Local Schemes5%
- Other0%
Cross-border e-commerce
Market data coming soon.
Featured payment methods in Mozambique
Popular options based on coverage and prominence in this market.
M-Pesa
M-Pesa is Kenya's transformative mobile money service, launched by Safaricom in 2007. It enables users to send money, pay bills, buy goods, and access financial services via a basic mobile phone — no smartphone or bank account required. With over 30 million active users and 93% market share in Kenyan mobile money, M-Pesa is the default payment method for a large portion of the population and is deeply integrated into e-commerce via the Daraja API and third-party gateways like Flutterwave and Pesapal.
M-Kesh
M-Kesh is the mobile money service of Tmcel, Mozambique's state-owned telecommunications company. It provides P2P transfers, bill payments, and agent-based cash services, and is interoperable with M-Pesa and E-Mola.
E-Mola
E-Mola is Movitel's mobile money service, widely used in areas where Movitel has strong network coverage. It provides the same core mobile money services and is fully interoperable with M-Pesa and M-Kesh under the national interoperability agreement.
Tingg
Tingg is Cellulant's consumer payments app and checkout that aggregates mobile money, cards and bank rails across eight African markets. Operator: Cellulant Corporation. Est. users: Large pan-African user base (2024).
Featured banks in Mozambique
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.
Firstrand (FNB / RMB / WesBank)
Johannesburg, South Africa
FirstRand is South Africa's second-largest banking group, comprising FNB (retail/SME), RMB (investment banking), and WesBank (vehicle finance).
Absa Group South Africa
Johannesburg, South Africa
Absa (formerly Barclays Africa) is South Africa's fourth-largest bank, offering retail, SME, corporate, and investment banking across Africa.
Nedbank South Africa
Johannesburg, South Africa
Nedbank is South Africa's third-largest bank, offering retail, SME, corporate, and investment banking with a focus on green and sustainable banking.
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.
Access Bank Nigeria
Lagos, Nigeria
Access Bank is Nigeria's largest bank by customer base, following its merger with Diamond Bank, offering retail, SME, and corporate banking across Africa.
