MTN Nigeria’s fintech revenue has but to get well to pre-suspension ranges after the corporate briefly halted its airtime and information credit score service between April and June 2026, even as it migrates MoMo prospects to a brand new platform.
Fintech revenue fell 25.91% to ₦97.5 billion ($72.42 million) within the 9 months ended September 2026, in accordance to the company’s third-quarter financial results.
The decline highlights the enterprise’s dependence on airtime and information credit score as MTN seeks to increase its cellular cash operations and switch its telecoms market scale into sustainable fintech revenue.
It adopted the corporate’s temporary suspension of airtime and information credit score advance service, Xtratime, on April 16 to implement a brand new compliance framework required underneath Nigeria’s lending guidelines.
MTN mentioned the service resumed underneath a brand new multi-partner mannequin and continued to get well in Q3, with revenue rising 78.5% in contrast with Q2. Despite the restoration, fintech contributed simply 2.11% of the telecom operator’s ₦4.61 trillion ($3.42 billion) revenue within the 9 months.
MTN mentioned MoMo PSB migrated to its new Alipay+ platform, an improve to its fintech infrastructure in August 2026.
“Built for reliability and scale, it offers a richer, more feature-packed and secure customer experience, giving MoMo PSB the foundation to become a scaled digital financial services platform,” Karl Toriola, MTN Nigeria chief govt officer, mentioned.
The migration adopted a June partnership between MTN Group Fintech and Ant International, the worldwide funds and monetary expertise arm of China’s Ant Group, which operates Alipay+. The partnership goals to enhance transaction velocity and reliability for MoMo customers in Nigeria.
MTN mentioned MoMo’s month-to-month lively customers reached 3.2 million on the finish of the third quarter. It expects the quantity to develop as present wallets migrate to the brand new platform and new prospects are onboarded. The firm reported five million lively wallets within the first half of 2026.
“Underlying engagement remained robust, with Q3 transaction volumes up 69.1% on Q2,” Toriola added.
MoMo’s push for scale
Revenue from the core cellular cash enterprise rose by 102.2%, pushed by larger float revenue as pockets balances greater than quadrupled to ₦43.8 billion ($32.54 million) from December 2025.
MTN mentioned larger pockets adoption and deposit mobilisation drove the rise, reflecting modifications in buyer funding behaviour quite than changes to product phrases or pricing. However, the corporate famous that deposits remained largely short-term and transactional, with balances payable on demand.
MTN mentioned its fintech priorities embrace migrating prospects to the brand new MoMo platform, deepening pockets exercise and use instances, and restoring the airtime and information credit score service to anticipated ranges by the top of November 2026.
“The structural separation of the fintech business is progressing, subject to regulatory approvals,” Toriola mentioned.
In April, shareholders approved a restructuring to transfer MoMo Payment Service Bank Limited and Y’ello Digital Financial Services Limited into a brand new holding construction backed by MTN Group.
Under the proposed association, MTN Group, via its fintech funding arm, will purchase a 60% stake within the fintech companies, whereas MTN Nigeria will retain the remaining 40%.
MTN goals to develop its Nigerian buyer base to 30 million over the medium time period, positioning MoMo to compete extra immediately with established cellular cash operators. OPay, one among Nigeria’s largest cellular cash platforms, at the moment has about 50 million lively prospects.
