Payment methods in Mozambique

Africa

4methods

9banks

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

All payment methods available in this market, sorted by prominence.

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

All banks operating in this market, sorted by prominence.

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.

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.