The verdict in three sentences
The right aggregator depends on your country coverage, real fees and settlement delay, never on the provider's marketing. In 2026, francophone aggregators (Hub2, PayDunya, CinetPay) sit around 1.8 to 2.5 % versus 1.4 to 1.5 % for Paystack and Flutterwave on the anglophone side. The right call comes from a weighted 8-criteria scoring grid, not an isolated price table.
Fees and settlement: the 2026 numbers
Fee gaps look small but add up fast on volume. On top of that sits the settlement delay, often more decisive for cash flow than half a point of commission.
| Aggregator | Zone | 2026 fee (est.) | Settlement |
|---|---|---|---|
| Paystack | Anglophone | ~1.5 % | T+1 |
| Flutterwave | Pan-African | ~1.4 % + FX | T+1 to T+3 |
| Hub2 | Francophone | ~1.8 % | T+1 |
| CinetPay | Francophone (10+ countries) | ~2 % | T+1 to T+2 |
| PayDunya | SN / CI | ~2.5 % | T+1 |
| M-Pesa (direct) | Kenya | ~1.5 % | Same/next day |
Direct mobile money stays cheapest when your customers pay with one wallet, but an aggregator adds multi-provider coverage (M-Pesa, Airtel, MTN, cards) through a single integration.
The 8-criteria scoring grid
Score each aggregator 1 to 5 on these criteria, weight them to your context, then compare totals. It is more reliable than the headline fee.
| Criterion | Suggested weight | What to check |
|---|---|---|
| Country / provider coverage | 20 % | Are your real markets covered? |
| Real all-in fees | 20 % | % + fixed + FX + payout fees |
| Settlement delay | 15 % | T+1 vs T+3 on cash flow |
| Webhook reliability | 15 % | Signature, retries, reliable status |
| Docs + sandbox quality | 10 % | Real integration time |
| Technical support | 10 % | Responsiveness, channel, language |
| Onboarding / KYC | 5 % | Merchant activation delay |
| Reputation / stability | 5 % | Outage history |
An aggregator at 2 % with T+1 settlement and reliable webhooks often beats a 1.5 % rival that settles at T+3 with flaky callbacks — especially for an SME under cash-flow pressure.
Mini case study
Grace, who runs a fashion shop in Nairobi, is torn between a 1.5 % T+1 aggregator and a 1.4 % one settling at T+3. On KES 6,000,000 in monthly sales the fee gap is about KES 6,000, but the T+1 option saves a day of cash flow on every restock. With her weighted grid, the T+1 aggregator scores 4.3/5 versus 3.9/5: the tiny fee edge of the rival is wiped out by slower settlement and shakier webhooks. She picks the T+1 option.
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FAQ
Should I always pick the lowest fee?
No. A 2026 fee of 1.4 % with T+3 settlement and unstable webhooks can cost more in cash flow and incidents than a 2 % rival settling at T+1.
Does an aggregator replace direct mobile money?
Not exactly. Direct integration is cheaper for a single wallet, but the aggregator unifies M-Pesa, Airtel, MTN and cards in one integration.
How many criteria to decide?
Eight are enough: coverage, fees, settlement, webhooks, docs, support, KYC, reputation. Weight them to your market rather than reading one number.
Is T+1 settlement worth a premium?
For an SME restocking weekly, gaining one to two days of cash flow often justifies 0.3 to 0.5 extra points of fees.
Can I run two aggregators in parallel?
Yes, many merchants route one wallet directly and pass the rest through an aggregator, optimizing fees and coverage at once.
Let's talk about your project. We audit your volumes and select the optimal aggregator with our scoring grid. 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.
