PawaPay, a UK-based fintech that provides mobile payments solutions to African businesses, has said it processed three billion mobile money transactions, reaching its latest billion in less than nine months and doubling its daily transaction volume to five million payments.
Africa’s mobile money economy was worth $1.4 trillion in 2025 and has long been associated with financial inclusion and cash exchange. Increasingly, however, businesses are using mobile money to collect payments, pay customers, and operate across multiple markets.
PawaPay’s latest milestone offers a glimpse into this growing trend. The company, founded in 2020, says it connects large and small businesses to nearly 50 mobile operators across 20 African countries through a single API, allowing merchants to accept and disburse payments without building separate integrations for each market. Since launch, PawaPay said it has processed more than €10 billion ($11.63 billion) in payments.
“Mobile money, as the principal means of digital payments on the continent, is growing year on year,” Jamie Steell, the company’s chief operating officer, told TechCabal in an interview. “It’s like 20% up year on year consistently.”
Steell attributed the 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.
