The verdict in three sentences
Two aggregators both promising "mobile money in one line of code" can bill you 2x apart: 1.4% at one, 2.5% at the other on the same volume. Beyond the headline rate, what really weighs is the settlement (when money hits your account), the monthly minimum and the payout method. We compare structures and translate everything into cost per million FCFA processed.
Fee structures, side by side
The figures below are a 2026 order of magnitude for a mid-volume UEMOA merchant; real rates are negotiated on volume.
| Criterion | Aggregator A | Aggregator B | Aggregator C |
|---|---|---|---|
| Blended mobile money fee | 1.4% | 1.9% | 2.5% |
| Per-transaction cap | 2,000 FCFA | none | 3,500 FCFA |
| Settlement | T+2 | T+1 | T+3 |
| Payout to | Bank + wallet | Bank | Wallet + bank |
| Monthly minimum | 0 FCFA | 25,000 FCFA | 10,000 FCFA |
| Dispute/chargeback handling | Included | 2,500 FCFA/case | Included |
| Payout fee | 0.5% (cap 1,000) | flat 500 FCFA | 1% |
The per-transaction cap changes everything on large carts: at a 2,000 FCFA cap, a 500,000 FCFA sale costs 2,000 FCFA (0.4%) instead of 9,500 FCFA uncapped. For high baskets, a higher headline rate but capped can be cheaper.
Real cost per million processed
Let's normalize everything to 1,000,000 FCFA in sales with a 15,000 FCFA average cart (≈ 67 transactions).
| Line item | Aggregator A | Aggregator B | Aggregator C |
|---|---|---|---|
| Transaction fees | 14,000 FCFA | 19,000 FCFA | 25,000 FCFA |
| Cap impact | −1,500 FCFA | 0 | −2,000 FCFA |
| Payout fees | 5,000 FCFA | 500 FCFA | 10,000 FCFA |
| Monthly minimum | 0 | 25,000 FCFA | 10,000 FCFA |
| Total cost / million | ~17,500 FCFA | ~44,500 FCFA | ~43,000 FCFA |
At low volume the monthly minimum dominates everything: aggregator B, cheaper on unit fees, becomes the most expensive because of its 25,000 FCFA floor. That floor fades proportionally once you pass 5-10 million FCFA/month — hence the importance of projecting your real volume before choosing.
Mini case study
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Awa, who runs a ready-to-wear boutique in Dakar, processes 3,200,000 FCFA/month. Drawn by aggregator B's 1.9% headline rate, she forgets the 25,000 FCFA minimum: on her volume, real fees climb to ≈ 85,000 FCFA/month, an effective 2.6%. Switching to aggregator A with no minimum and T+2 settlement, she drops to ≈ 56,000 FCFA/month. Savings: 29,000 FCFA/month, or 348,000 FCFA/year — without changing a line of her site.
FAQ
Why does settlement matter as much as the rate?
At T+3 instead of T+1, your cash lands two days later. At 3M/month that's ~200,000 FCFA permanently tied up: negligible as a fee, but critical if you restock weekly.
Does the headline rate include everything?
Rarely. Always add payout fees and the monthly minimum: those blow up the real cost at low volume. Always ask for an "all-in" quote on your projected volume.
Can I switch aggregator later?
Yes, if your checkout goes through a PaymentService abstraction layer. Otherwise budget 1-2 weeks of migration. It's the number-one reason to isolate the provider from day one.
Do chargebacks exist in mobile money?
Less than with cards, but disputes exist (item not received). Some aggregators bill 2,500 FCFA/case, others include it: at high complaint volume, this line adds up.
Let's talk about your project. We'll compare aggregators on YOUR real volume and negotiate the best all-in rate. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
