The number of merchants accepting Airtel Money across its African markets rose to 587,000 in September, up from 317,000 a year earlier. The expansion gives customers more places to spend money held in their mobile wallets, from shops accepting a payment code to businesses sending a payment link. Across all its services, Airtel Money processed $128 billion in the six months to 30 September.
In its first results since listing in London in October, Airtel Money reported half-year revenue of $830 million, up 25.1% at constant exchange rates. Its customer base grew 18.7% to 56.7 million. In East Africa, its largest revenue market, payments and transfers generated $277 million, approaching the $291 million earned from wallet services.
More places to spend a mobile balance
A merchant and a mobile money agent serve different purposes. An agent can help a customer open a wallet or turn a digital balance into cash. A shop that accepts the wallet gives that customer the option of paying directly. Airtel Money added roughly 270,000 merchants over the year, while its agent network grew from 1.9 million to 2.4 million.
The distinction matters in markets where many customers still use basic mobile phones. Airtel Money’s smartphone app reached 4.1 million customers, up 64.3%, but that was only about 7% of its total customer base. Merchant codes and in-person agents therefore remain important alongside newer options such as contactless payments and QR codes.
Transaction growth outpaces revenue
The value of transactions processed rose 36.8% at constant exchange rates, faster than revenue. Airtel Money earned the equivalent of 65 cents for every $100 processed, down from 71 cents a year earlier. The company attributed the change largely to revised agreements within the group and a shift in the mix of services customers used.
For retailers, the practical question is how often customers choose the wallet at the till. The merchant count shows how widely Airtel Money can now be accepted. The $128 billion figure covers the entire platform, including transfers, so retail spending alone cannot yet be read from that total.
Newshub Editorial in Africa – 4 November 2026
The number of merchants accepting Airtel Money across its African markets rose to 587,000 in September, up from 317,000 a year earlier. The expansion gives customers more places to spend money held in their mobile wallets, from shops accepting a payment code to businesses sending a payment link. Across all its services, Airtel Money processed $128 billion in the six months to 30 September.
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