MTN Nigeria Communications Plc’s core cellular cash enterprise, MTN MoMo Payment Service Bank (MoMo PSB), recorded a 102.2% improve in revenue within the 9 months ended September 30, 2026, as buyer wallet balances greater than quadrupled to N43.8 billion, in accordance with the corporate’s newest monetary outcomes.
MoMo PSB additionally moved to a brand new Alipay+ platform in August 2026, with month-to-month energetic customers reaching 3.2 million on the finish of September and transaction volumes rising 69.1% within the third quarter in contrast with the earlier quarter.
The development in MoMo’s revenue got here in opposition to a weaker efficiency in MTN Nigeria’s broader fintech enterprise, which was affected by the non permanent suspension of its airtime and knowledge credit score service between April and June 2026.
Key Highlights
- MoMo revenue: Core cellular cash revenue elevated by 102.2% within the 9 months ended September 2026.
- Customer wallet balances: Rose greater than fourfold to N43.8 billion from December 2025.
- MoMo month-to-month energetic customers: Reached 3.2 million, up 11.6% from 2.9 million a 12 months earlier.
- Third-quarter transaction volumes: Increased by 69.1% in contrast with the second quarter of 2026.
- Overall fintech revenue: Fell by 25.9% to N97.5 billion from N131.6 billion.
- Airtime and knowledge credit score service: Revenue rose by 78.5% within the third quarter in contrast with the second quarter following its resumption underneath a multi-partner mannequin.
MoMo strikes to new Alipay+ platform
MTN Nigeria mentioned MoMo PSB moved to the Alipay+ platform in August 2026 as a part of efforts to strengthen its digital monetary companies enterprise.
- The firm described the platform as extra dependable, feature-rich and safe, offering a basis for MoMo PSB to develop a bigger digital monetary companies platform.
- Monthly energetic customers stood at 3.2 million on the finish of the third quarter, in contrast with 2.9 million in September 2025, representing an 11.6% year-on-year improve.
- MTN Nigeria famous that the newest active-user determine was measured on the brand new platform solely, as the migration of shoppers from legacy wallets continued alongside the onboarding of recent customers.
- Transaction volumes additionally elevated by 69.1% within the third quarter in contrast with the previous quarter, indicating stronger exercise on the platform throughout the interval.
The firm attributed the 102.2% improve in core cellular cash revenue primarily to larger float earnings, as buyer wallet balances rose to N43.8 billion, greater than quadrupling from their degree on the finish of December 2025.
Overall fintech revenue falls 25.9%
Despite the expansion in its core cellular cash enterprise, MTN Nigeria’s total fintech revenue declined by 25.9% to N97.5 billion within the first 9 months of 2026, in contrast with N131.6 billion a 12 months earlier.
The decline mirrored the suspension of the corporate’s airtime and knowledge credit score service between April and June 2026. The service subsequently resumed underneath a multi-partner mannequin and continued to recuperate within the third quarter.
Revenue from the service elevated by 78.5% within the third quarter in contrast with the second quarter, though the restoration had not absolutely offset the weak spot recorded earlier within the 12 months.
For the July-to-September quarter, the broader fintech section generated N20.3 billion in revenue, down from N48.4 billion within the corresponding interval of 2025.
Market response
Shares of MTN Nigeria Communications Plc gained 3.03% on the Nigerian Exchange on Friday, October 30, 2026, closing at N850, up N25 from the earlier closing value of N825.
The inventory opened at N825 and traded between N844 and N850 throughout the session, with 1.22 million shares exchanged in transactions valued at roughly N1.01 billion.
Despite the acquire, the shares remained under their 52-week excessive of N915, whereas the 52-week low stood at N429.30.
