{
  "id": 17759287,
  "title": "MTN MoMo revenue jumps 102.2% as wallet balances hit N43.8 billion",
  "url": "https://urgent.news/2026/11/02/mtn-momo-revenue-jumps-102-2-as-wallet-balances-hit-n43-8-billion",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T06:26:01.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/11/02/mtn-momo-revenue-jumps-102-2-as-wallet-balances-hit-n43-8-billion/"
  },
  "original_language": "en",
  "account": "MTN Nigeria Communications Plc's MTN MoMo Payment Service Bank (MoMo PSB) witnessed a staggering 102.2% surge in revenue during the nine months leading up to September 30, 2026, according to the company's latest financial results. This growth can be attributed to a significant expansion in customer wallet balances, which reached an impressive N43.8 billion by the end of the period, more than quadrupling from the level at the end of December 2025.\n\nThe company's latest financial report also highlighted the successful transition of MoMo PSB to a new Alipay+ platform in August 2026. This move was aimed at enhancing the digital financial services business, and it has since attracted 3.2 million monthly active users. As a result, transaction volumes increased by 69.1% in the third quarter compared to the previous quarter.\n\nHowever, the broader fintech business within MTN Nigeria experienced a decline, with its revenue dropping by 25.9% to N97.5 billion in the first nine months of 2026. This decline is primarily attributed to the suspension of the airtime and data credit service between April and June 2026. Despite the suspension, the service resumed under a multi-partner model and demonstrated a remarkable 78.5% increase in revenue during the third quarter of 2026 compared to the second quarter. Nevertheless, the recovery has not yet fully compensated for the earlier year's weakness, as the fintech segment generated N20.3 billion in revenue for the July-to-September quarter, a significant decrease from N48.4 billion in the same period last year.",
  "summary": "MTN Nigeria Communications Plc’s core mobile money business, MTN MoMo Payment Service Bank (MoMo PSB), recorded a 102.2% increase in revenue in the nine months ended September 30, 2026, as customer wallet balances more than quadrupled to N43.8 billion, according to the company’s latest financial results. The post MTN MoMo revenue jumps 102.2% as wallet balances hit N43.8 billion appeared first on…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}