Payment methods in Togo
Togo's mobile money market is a duopoly: TMoney (61%) and Flooz (39%).
Market takeaways
- Togo's mobile money market is a duopoly: TMoney (61%) and Flooz (39%).
- Togo's Q1 2024 mobile money transaction value reached US$1.54 billion.
- Mobile money tax was reduced from 18% to 10% in 2024 to stimulate digital payment growth.
- Gozem (ride-hailing super app) expanded into mobile money in Togo in late 2024/2025.
- Togo is part of the WAEMU regional instant payment system.
Population
~9M
Online population
~4M
Banked population
~35%
Mobile Money Penetration
~39% of adults
Credit card population
~3%
Payment method breakdown
- Cash55%
- Mobile Money38%
- Bank Transfer5%
- Card2%
- Other0%
Card scheme breakdown
- Visa55%
- Mastercard40%
- Local Schemes5%
- Other0%
Cross-border e-commerce
Market data coming soon.
Featured payment methods in Togo
Popular options based on coverage and prominence in this market.
TMoney
TMoney is Togo's leading mobile money service with a 61% market share, operated by Togocom (the state telecom). It provides P2P transfers, merchant payments, bill payments, and airtime top-up via USSD and app access.
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.
Flooz
Flooz is the mobile money service of Moov Africa Togo, holding 39% of the market. It offers mobile financial services to Moov subscribers and has an active agent network across the country.
Featured banks in Togo
Major institutions operating in this market.
