Payment methods in Senegal

Africa

7methods

5banks

Wave's flat 1% fee and free deposits/withdrawals have disrupted the traditional mobile money pricing model dominated by Orange Money.

Market takeaways

Wave's flat 1% fee and free deposits/withdrawals have disrupted the traditional mobile money pricing model dominated by Orange Money.
Wave serves nearly 11 million active customers in Senegal, accounting for roughly 90% of the adult population with a Wave account.
USSD remains significant for rural users outside Dakar who rely on basic feature phones.
Senegal is part of the WAEMU regional monetary union sharing the CFA franc with seven other West African countries.
Wave secured US$137M in debt financing in July 2025 to expand its mobile money services.

Population

~18M

Online population

~12M

Banked population

~22%

Mobile Money Penetration

~70% of adults

Credit card population

~3%

Payment method breakdown

Mobile Money60%
Cash30%
Bank Transfer6%
Card3%
Other1%

Card scheme breakdown

Visa50%
Mastercard45%
Local Schemes5%
Other0%

Cross-border e-commerce

Market data coming soon.

Featured payment methods in Senegal

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

Wave

Wave is a mobile-money provider focused on West Africa (Senegal, Côte d'Ivoire, Mali, Burkina Faso; also active in The Gambia and Uganda). It offers low-cost transfers, free deposits/withdrawals and bill payments via a smartphone app and agent network.

Expresso Cash

Expresso Cash is a smaller mobile money service operated by Expresso Telecom, providing basic P2P transfers and bill payments to a niche customer base.

Free Money

Free Money is the mobile money offering from Free Senegal's telecom network, holding approximately 5–10% of the market. It competes on price and network coverage, particularly in urban areas.

Orange Money

Orange Money is Orange Jordan's mobile wallet connected to CliQ under Central Bank of Jordan supervision, enabling online payments, transfers and bill payment. Est. users: Large telecom-backed user base (2024, best estimate).

JumiaPay

JumiaPay is the embedded wallet and checkout solution for the Jumia marketplace and bill payments across several African markets. Operator: Jumia Technologies AG. Est. users: ~5.4M Jumia active customers (2024).

EcobankPay

EcobankPay (via the Ecobank Mobile app) offers QR-based scan-to-pay and account payments across 33 African countries. Operator: Ecobank Transnational Inc. Est. users: 4M+ app users (multi-country).

e& money

e& money is the first digital wallet licensed by the Central Bank of the UAE, offered by e& life, supporting online payments, money transfers and bill payment. Operator: e& life (formerly Etisalat). Est. users: Large user base, telecom-backed (2024, best estimate).

Featured banks in Senegal

All banks operating in this market, sorted by prominence.

Société Générale

Paris, France

Société Générale is a leading European bank offering retail banking in France and Eastern Europe, plus global markets and investment banking services.