PawaPay crosses 3 billion transactions on Africa's mobile money rails

Africa's mobile money economy is a behemoth, with a worth of $1.4 trillion in 2025. Mobile money has long been associated with financial inclusion and cash exchange, and it's a lifeline for countless consumers across the continent. Yet, behind the scenes, businesses are increasingly leveraging mobile money to collect payments, pay customers, and operate across multiple markets. And at the heart of this trend is PawaPay, a UK-based fintech that provides mobile payments solutions to African businesses.

PawaPay has just reached a monumental milestone: it has processed three billion mobile money transactions, doubling its daily transaction volume to five million payments. This achievement didn't come overnight; the company has been quietly working behind the scenes, connecting large and small businesses to nearly 50 mobile operators across 20 African countries through a single API. This means that merchants can accept and disburse payments without building separate integrations for each market, a major boon for businesses seeking to expand their reach.

Mobile money's growth has been nothing short of remarkable. It's like 20% up year on year consistently, according to Jamie Steell, PawaPay's chief operating officer. Steell attributes this growth to a combination of demographic and technological factors, including a young population, falling smartphone costs, cheaper internet access, and the rapid digitisation of commerce. This digital environment growth is driving growth of all our merchants that we see come onto our pipes, he said.

For much of the last two decades, mobile money's growth was powered by person-to-person transfers and remittances. Today, a growing share of activity is coming from businesses using mobile money to collect and send payments across multiple African markets. In 2025, more than $2.1 trillion flowed through mobile money globally, with merchant payments the fastest-growing use case, rising by 42% year-on-year to $155 billion, according to GSMA, the global industry body for telecom operators.

More merchants now offer mobile money as a payment channel, GSMA said in its latest State of the Industry Report on Mobile Money. Monthly active merchants rose by 59% in 2025. Yet, while transaction volumes continue to rise, mobile money remains largely a payments tool rather than a store of value. Most users still cash out funds instead of keeping money within mobile money ecosystems.

PawaPay's latest milestone offers a glimpse into this growing trend, and it's clear that the company is committed to being at the forefront of Africa's digital payments revolution. As businesses continue to leverage mobile money to expand their reach, it's likely that we'll see even more innovative solutions emerge. For now, PawaPay's focus is on connecting businesses to the continent's vast mobile money ecosystem, and providing them with the tools they need to succeed.

As I reflect on PawaPay's achievement, I'm struck by the sheer scale of Africa's mobile money economy. It's an ecosystem that's driving financial inclusion, empowering consumers, and enabling businesses to reach new heights. And as PawaPay continues to grow and innovate, I have no doubt that we'll see even more exciting developments in the years to come. Africa's digital landscape is a rapidly evolving landscape, and PawaPay is at the forefront of it all.