MTN MoMo PSB sees 102.2% revenue growth in 2026

MTN Nigeria Communications Plc (NGX: MTNN)’s MoMo Payment Service Bank (MoMo PSB) experienced a significant revenue increase of 102.2% for the nine months ending September 30, 2026. Customer wallet balances surged to N43.8 billion, more than quadrupling since December 2025.

The company transitioned to the Alipay+ platform in August 2026, which contributed to monthly active users reaching 3.2 million by the end of September. Transaction volumes rose by 69.1% in the third quarter compared to the previous quarter.

However, MTN Nigeria’s overall fintech revenue fell by 25.9% to N97.5 billion in the first nine months of 2026, down from N131.6 billion the previous year, primarily due to a temporary suspension of airtime and data credit services from April to June 2026. Although the service resumed under a multi-partner model and showed a 78.5% revenue increase in the third quarter compared to the second quarter, it did not fully recover from earlier losses.

For the July-to-September quarter, the broader fintech segment generated N20.3 billion in revenue, down from N48.4 billion in the same period of 2025.