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Mobile Money Hit $2 Trillion. Is Your Shop Taking Merchant Payments?

Editorial illustration of a shop owner accepting mobile money merchant payments at his kiosk counter while customers queue with their phones
Illustration by HotKiosk

Mobile money crossed $2 trillion in global transactions in 2025, according to the GSMA State of the Industry Report. Africa accounts for nearly two-thirds of that figure. And the fastest-growing part of the whole system is merchant payments — the segment that is directly about what happens at your shop counter.

The Numbers Behind the Report

The GSMA publishes its State of the Industry Report on Mobile Money every year. The 2025 edition, released in March 2026, covers data from across the globe — but the Africa numbers stand out.

Africa processed around $1.4 trillion in mobile money transactions in 2025. That is about two-thirds of all global mobile money flows. Sub-Saharan Africa alone has 347 million accounts active within 30 days — nearly 60% of the global total.

Mobile money transactions globally doubled in four years, from $1 trillion in 2021 to $2 trillion in 2025. Africa drove most of that growth.

Active user numbers grew 15% in 2025 — the fastest rate since 2021. More people are using mobile money more often. But there is a gap that matters to every shop owner.

Merchant Payments Are Surging

Not all mobile money transactions are the same. Sending money to family is different from paying a shop. And the GSMA data shows that paying at shops and businesses — what they call merchant payments — is growing faster than anything else.

Merchant payments grew by almost 50% in 2025, reaching $155 billion. No other segment in mobile money grew that fast. This tells you something important: customers are choosing to pay businesses via mobile money at a rate that has not been seen before.

QR code payments and till number systems are driving this shift. A customer scans a code, enters the amount, and confirms. The money arrives in your merchant account instantly. No cash to count. No change to find. A digital record of every transaction.

Which countries are leading

Kenya's M-Pesa till number system remains one of the most widely used merchant payment setups on the continent. Ghana's mobile money interoperability system lets customers pay across different networks. Tanzania and Uganda have seen strong growth in mobile money merchant accounts for market vendors.

Nigeria lags in mobile money adoption compared to East Africa but is catching up fast as CBN regulations open up more agent and merchant services.

Why Most Accounts Still Sit Idle

Here is the tension in the data. There are over 1.7 billion registered mobile money accounts globally. But only about 25% are active monthly. That means roughly 1.3 billion accounts sit dormant.

This is not just a global problem — it shows up across Africa too. Many people have accounts they registered once and rarely touch. The reasons vary, but a few come up repeatedly:

That last point is the one you can actually do something about.

What Your Shop Can Do Right Now

Setting up to accept mobile money merchant payments is not complicated in most African markets. The steps differ slightly by country, but the process is similar across M-Pesa, MTN Mobile Money, Airtel Money, and others.

  1. Register as a merchant: Go to your mobile money provider (or a registered agent) and ask to open a merchant account. This is separate from a personal wallet and lets you receive payments under a business name or till number.
  2. Get your till number or QR code: Once registered, you get a shortcode (till number) or a printable QR code to place at your counter. Customers dial or scan to pay.
  3. Display it prominently: Put the QR code or till number where customers can see it clearly. Many vendors print it on a laminated card or small signboard at the counter.
  4. Check your transaction records: Merchant accounts come with a record of every payment received. This can replace your receipt book for customer transactions and makes it easier to track daily takings.

Merchant accounts often have lower transaction fees than personal wallets in some markets — and many providers have special promotions or zero-fee periods for new merchant sign-ups. Check with your local provider.

Merchant payments are now the fastest-growing use case in mobile money. If your shop is not accepting them, you are behind where your customers are going.

Why This Matters

The $155 billion in merchant payments from 2025 did not happen at big retailers. It happened at stalls, kiosks, small shops, and market tables across the continent. The GSMA data shows that proximity payments — small, in-person transactions between a seller and a buyer — are the fastest-growing part of the mobile payments market.

Customers are already walking into shops with digital wallets ready. The question is whether your shop is set up to receive them or whether they reach for cash because you have no other option.

The idle account problem also cuts both ways. Yes, many accounts are dormant. But when a customer pays at a merchant, it keeps their account active and builds a habit. Shops that accept mobile money are part of the ecosystem that keeps it growing — and that keeps customers coming back with a wallet they use.

Conclusion

Mobile money is bigger than it has ever been, and merchant payments are the part of it growing fastest. If your shop is not yet set up to accept merchant payments via mobile money, now is a good time to change that. Contact your mobile money provider, get a merchant account or QR code, and put it on your counter. The customers are already there.

Sources

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