MTN MoMo revenue jumps 102.2% as wallet balances hit N43.8 billion
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Nairametrics
Reported by Samuel Daniel
Mon, 2 Nov 2026, 06:26
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Source Attribution: Nairametrics
News Stand NG operates under ethical news aggregation guidelines. Source: Nairametrics. To read the unabridged investigative reporting and full gallery, visit the original publication.
MTN Nigeria Communications Plc’s core mobile money business, MTN MoMo Payment Service Bank (MoMo PSB), recorded a 102.2% increase in revenue in the nine months ended September 30, 2026, as customer wallet balances more than quadrupled to N43.8 billion, according to the company’s latest financial results. MoMo PSB also moved to a new Alipay+ platform in August 2026, with monthly active users reaching 3.2 million at the end of September and transaction volumes rising 69.1% in the third quarter compared with the previous quarter.
Context & Background
✦Overall fintech revenue falls 25.9% Despite the growth in its core mobile money business, MTN Nigeria’s overall fintech revenue declined by 25.9% to N97.5 billion in the first nine months of 2026, compared with N131.6 billion a year earlier.
Key Figures & Named Entities
2026:MTN Nigeria Communications Plc’s core mobile money business, MTN MoMo Payment Service Bank (MoMo PSB), recorded a 102.2% increase in revenue in the nine months ended September 30, 2026, as customer wallet balances more than quadrupled to N43.8 billion, according to the company’s latest financial results.2026:MoMo PSB also moved to a new Alipay+ platform in August 2026, with monthly active users reaching 3.2 million at the end of September and transaction volumes rising 69.1% in the third quarter compared with the previous quarter.2026:The growth in MoMo’s revenue came against a weaker performance in MTN Nigeria’s broader fintech business, which was affected by the temporary suspension of its airtime and data credit service between April and June 2026.
Outlook & Next Steps
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Key Takeaways
Verified Extract
✦MTN Nigeria Communications Plc’s core mobile money business, MTN MoMo Payment Service Bank (MoMo PSB), recorded a 102.2% increase in revenue in the nine months ended September 30, 2026, as customer wallet balances more than quadrupled to N43.8 billion, according to the company’s latest financial results.
✦MoMo PSB also moved to a new Alipay+ platform in August 2026, with monthly active users reaching 3.2 million at the end of September and transaction volumes rising 69.1% in the third quarter compared with the previous quarter.
✦Overall fintech revenue falls 25.9% Despite the growth in its core mobile money business, MTN Nigeria’s overall fintech revenue declined by 25.9% to N97.5 billion in the first nine months of 2026, compared with N131.6 billion a year earlier.
Key Facts:2026: MTN Nigeria Communications Plc’s core mobile money business, MTN MoMo Payment Service Bank (MoMo PSB), recorded a 102.2% increase in revenue in the nine months ended September 30, 2026, as customer wallet balances more than quadrupled to N43.8 billion, according to the company’s latest financial results.2026: MoMo PSB also moved to a new Alipay+ platform in August 2026, with monthly active users reaching 3.2 million at the end of September and transaction volumes rising 69.1% in the third quarter compared with the previous quarter.2026: The growth in MoMo’s revenue came against a weaker performance in MTN Nigeria’s broader fintech business, which was affected by the temporary suspension of its airtime and data credit service between April and June 2026.2026: Key Highlights MoMo revenue: Core mobile money revenue increased by 102.2% in the nine months ended September 2026.
Editorial Excerpt
MTN Nigeria Communications Plc’s core mobile money business, MTN MoMo Payment Service Bank (MoMo PSB), recorded a 102.2% increase in revenue in the nine months ended September 30, 2026, as customer wallet balances more than quadrupled to N43.8 billion, according to the company’s latest financial...
Frequently Asked Questions About This Story
What is the latest development regarding Central Bank of Nigeria?
MTN Nigeria Communications Plc’s core mobile money business, MTN MoMo Payment Service Bank (MoMo PSB), recorded a 102.2% increase in revenue in the nine months ended September 30, 2026, as customer wallet balances more than quadrupled to N43.8 billion, according to the company’s latest financial results.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Central Bank of Nigeria, Rivers State, MTN Nigeria.
What timeline or key figures were confirmed?
MTN Nigeria Communications Plc’s core mobile money business, MTN MoMo Payment Service Bank (MoMo PSB), recorded a 102.2% increase in revenue in the nine months ended September 30, 2026, as customer wallet balances more than quadrupled to N43.8 billion, according to the company’s latest financial results.
