The verdict in three sentences
When an aggregator advertises "1.5 % per transaction", that figure almost never covers the total cost: you must add withdrawal, settlement, FX fees, failed payouts, and the per-transaction minimum. On 1,000,000 FCFA of monthly volume, the gap between quoted and real fees often reaches 0.8 point, about 8,000 FCFA. The only way to decide is to compute the all-in cost, not the showroom rate.
Visible vs hidden fees
The advertised rate is the tip of the iceberg. Here is the 2026 map of real fees, with orders of magnitude observed in the West African market (confirm against your contract).
| Fee type | Visible? | 2026 order of magnitude | Margin impact |
|---|---|---|---|
| Per-transaction commission | Yes | 1.0 to 2.0 % | Direct |
| Per-transaction minimum | Often hidden | 25 to 100 FCFA | Crushes small baskets |
| Withdrawal / settlement fee | Often hidden | 0.2 to 0.5 % or flat | On every transfer |
| FX fee FCFA/EUR | Hidden | 1.5 to 3 % on the spread | On international sales |
| Failed payout (retry) | Hidden | 100 to 500 FCFA/failure | On wrong numbers |
| Monthly account fee | Sometimes | 0 to 25,000 FCFA | Fixed |
| Dispute / chargeback fee | Hidden | 2,000 to 5,000 FCFA | On complaints |
The per-transaction minimum is the sneakiest for a small-basket merchant: a 50 FCFA minimum on a 1,000 FCFA basket equals 5 %, far beyond the advertised rate.
The real cost on 1,000,000 FCFA
Let us compare two fictional aggregators on a monthly volume of 1,000,000 FCFA split into 500 transactions of 2,000 FCFA on average. The advertised rate lies; the all-in cost decides.
| Item | Aggregator A (shows 1.5 %) | Aggregator B (shows 1.8 %) |
|---|---|---|
| Base commission | 15,000 FCFA | 18,000 FCFA |
| Per-transaction minimum | 500 tx x 20 FCFA = 10,000 FCFA | Included (0) |
| Settlement (0.3 %) | 3,000 FCFA | 0 (included) |
| Monthly fees | 0 | 0 |
| Total real cost | 28,000 FCFA (2.8 %) | 18,000 FCFA (1.8 %) |
Aggregator A, though "cheaper" on paper (1.5 % vs 1.8 %), actually costs a full point more once the minimum and settlement are included. Over a year, that is 120,000 FCFA of difference for this volume alone.
Mini case study
Fatou sells accessories online in Thies with a 1,500 FCFA average basket and 800 orders per month (1,200,000 FCFA of volume). Her aggregator shows 1.5 %, so she thinks she pays 18,000 FCFA/month. Reality: 25 FCFA minimum x 800 = 20,000 FCFA, plus 0.3 % settlement = 3,600 FCFA, so 23,000 FCFA real, or 1.9 %. Switching to a no-minimum offer, she drops to about 16,800 FCFA. Saving: over 6,000 FCFA/month, or 74,400 FCFA/year, just by reading the real fees.
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FAQ
Why isn't the advertised rate enough?
Because it ignores the per-transaction minimum, settlement, FX, and failed payouts. On small baskets, these hidden fees can double the displayed real cost.
Is the per-transaction minimum really important?
Hugely for small baskets. A 50 FCFA minimum on a 1,000 FCFA basket equals 5 %, versus the 1.5 % advertised. The lower your average basket, the heavier this minimum weighs.
How do I compare two aggregators honestly?
Simulate your real volume: number of transactions, average basket, international share. Compute the all-in cost in FCFA, not the showroom percentage. The cheapest on paper is not always the cheapest in reality.
Are FX fees negotiable?
Sometimes. On EUR/USD sales, the FX spread (1.5 to 3 %) is often heavier than the commission. Ask for the applied rate and compare it to the interbank rate.
Does a failed payout really cost money?
Yes, often 100 to 500 FCFA per attempt on a wrong number. Validating the beneficiary number before payout reduces these fees and delays.
Let's talk about your project. We compute your all-in payment cost and negotiate the best fee structure. 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.
