The quick answer
In Senegal in 2026, three rules hold: peer-to-peer transfers are free on Wave and tiered on Orange Money; cash-out is free on Wave and costs 1.5% to 5% elsewhere; merchant payments cost about 1%, paid by the merchant, not the customer. The tables below break down each case by amount tier.
Send fees (P2P transfer) by tier
This is the most frequent operation. Wave disrupted the market by making it free; Orange Money charges by bracket.
| Amount sent | Wave | Orange Money | Free Money |
|---|---|---|---|
| 1,000 - 5,000 FCFA | 0 FCFA | ~50 - 100 FCFA | 0 FCFA |
| 5,000 - 25,000 FCFA | 0 FCFA | ~100 - 250 FCFA | 0 to ~150 FCFA |
| 25,000 - 100,000 FCFA | 0 FCFA | ~250 - 1,000 FCFA | ~250 FCFA |
| 100,000 - 500,000 FCFA | 0 FCFA | ~1,000 - 4,000 FCFA | ~1,000 FCFA |
On a 100,000 FCFA transfer, Wave costs 0 FCFA, Orange Money around 1,000 FCFA. This gap explains Wave's market share.
Cash-out fees by tier
Withdrawing at an agent is where Orange Money and Free Money earn the most.
| Amount withdrawn | Wave | Orange Money | Free Money |
|---|---|---|---|
| 5,000 FCFA | 0 FCFA | ~100 - 250 FCFA | ~50 - 100 FCFA |
| 25,000 FCFA | 0 FCFA | ~400 - 800 FCFA | ~250 FCFA |
| 100,000 FCFA | 0 FCFA | ~1,500 - 3,000 FCFA | ~1,000 FCFA |
| 500,000 FCFA | 0 FCFA | ~5,000 - 12,000 FCFA | ~5,000 FCFA |
Withdrawing 100,000 FCFA costs 0 FCFA on Wave and easily 2,000 to 3,000 FCFA on Orange Money. For a merchant cashing out daily, the yearly gap is huge.
Merchant payment fees: who pays what
For professional collection, the merchant bears the fee, never the customer. The rate is around 1%.
| Payment type | Rate | Paid by | Usual limit |
|---|---|---|---|
| Wave merchant payment | 1% | Merchant | 500,000 FCFA / transaction |
| Orange Money merchant payment | 1% to 1.5% | Merchant | 2,000,000 FCFA / transaction |
| Free Money merchant payment | ~1% | Merchant | 1,000,000 FCFA / transaction |
| Collection via aggregator | 2% to 3.5% | Merchant | Per contract |
Golden rule: never pass merchant fees on to the customer in mobile money (it is poorly perceived and often against operator terms). Build the 1% into your margin.
Top-up and ancillary fees
| Operation | Wave | Orange Money | Free Money |
|---|---|---|---|
| Cash deposit (cash-in) | Free | Free | Free |
| Airtime purchase | Free | Free / bonus | Free |
| Bill payment (utilities) | Free to low | Low | Low |
| Payout to bank | Low / free | Per amount | Per amount |
Cash deposit is free everywhere: it is the base of the model. Operators earn mainly on cash-out and transfers.
Worked example: a transfer agent
Modou runs an agent kiosk. A customer wants to send 50,000 FCFA to family. Let us compare total cost on the customer side:
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- With Wave: free send + free cash-out on the recipient side = 0 FCFA in fees.
- With Orange Money: send ~250 to 500 FCFA + cash-out ~800 FCFA on the recipient side = ~1,000 to 1,300 FCFA.
On 50,000 FCFA, that is 0 versus over 1,000 FCFA. Multiplied by millions of transactions, you see why Wave dominates P2P and why a merchant who wants frictionless payment promotes Wave.
How to read these fees as a merchant
Three takeaways. First, to collect you pay ~1% on any operator, so the criterion is not price but how many customers have the wallet. Second, to disburse (pay suppliers, cash out), Wave is unbeatable at 0 FCFA. Third, if you use an aggregator to accept everything at once, your cost rises to 2-3.5%: arbitrate by volume.
Hidden fees to watch
Watch the Orange Money tiers, which change the real cost of a transfer depending on the exact amount (sending 99,000 vs 101,000 FCFA may land in different brackets). Watch dormancy or inactivity fees on some accounts, and bank payout fees added when you move money from the wallet to your account. Always ask for the current official merchant grid before signing.
FAQ
Is mobile money transfer really free on Wave?
Yes, Wave peer-to-peer transfers are free, as are withdrawals. Wave earns mainly on merchant payments (1%) and some services. Orange Money charges for sending and withdrawing by tier.
Who pays merchant payment fees: the customer or the merchant?
The merchant. The customer pays the exact amount; the merchant bears the ~1% merchant fee, built into the margin. Passing the fee to the customer is discouraged and often forbidden by the operator.
How much does a 100,000 FCFA withdrawal cost?
0 FCFA on Wave. About 1,500 to 3,000 FCFA on Orange Money and around 1,000 FCFA on Free Money, depending on the current grid.
Why is Orange Money more expensive than Wave?
Orange Money applies a legacy tiered fee model on sending and withdrawing, inherited from classic money transfer. Wave chose free P2P to win the market and earns elsewhere.
Do fees change often?
Yes, grids evolve (promotions, new tiers, regulatory adjustments). The figures here are 2026 orders of magnitude: always check the operator's official grid before building your pricing.
Let's talk about your project. We compute the real cost of your collections and build the cheapest checkout flow. 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.
