The verdict in three sentences
For a merchant in Accra or Kumasi, the real cost of collecting payments is not just the headline rate: you must add the merchant commission, the settlement delay and the cost of moving money to your bank. MTN MoMo has the widest reach and a mature merchant program, but a slightly higher blended cost, while Moov Money can undercut on rate but has thinner coverage. The right operator depends on your monthly volume and where your customers already keep their money.
Merchant fees and conditions compared
The figures below are a 2026 order of magnitude for a Ghana merchant account; real rates are negotiable above certain volumes.
| Criterion | MTN MoMo merchant | Moov Money merchant |
|---|---|---|
| Customer-side fee | 0% | 0% |
| Merchant rate (collection) | 1.0% to 1.5% | 0.8% to 1.3% |
| Fixed fee per transaction | GHS 0 | GHS 0 |
| Settlement (payout) | T+0 / T+1 | T+1 / T+2 |
| Merchant daily limit | GHS 25,000 to 100,000 | GHS 25,000 to 100,000 |
| Cash-out / bank transfer fee | 0% to 1% | 0.5% to 1% |
| In-person QR | Included | Included |
Total monthly cost by volume collected
The merchant rate alone is not enough: add the cost of moving funds to your bank to get the total cost of ownership.
| Monthly volume collected | MTN MoMo (~1.3% + payout) | Moov Money (~1.0% + payout) | Monthly gap |
|---|---|---|---|
| GHS 10,000 | ~GHS 150 | ~GHS 110 | ~GHS 40 |
| GHS 40,000 | ~GHS 600 | ~GHS 440 | ~GHS 160 |
| GHS 100,000 | ~GHS 1,500 | ~GHS 1,100 | ~GHS 400 |
| GHS 250,000 | ~GHS 3,750 | ~GHS 2,750 | ~GHS 1,000 |
Over a year, a merchant at GHS 100,000/month saves roughly GHS 4,800 by choosing the cheaper operator, at equivalent service.
Mini case study
Akosua runs a cosmetics shop in Osu, Accra. She collects GHS 60,000/month, of which 70% is mobile money. On MTN MoMo only (~1.3%), her monthly mobile collection cost is about GHS 546. By shifting 50% of that volume to Moov Money (~1.0%), she brings the blended cost down to about GHS 483, saving roughly GHS 63 per month, or nearly GHS 760 per year — enough to fund a local ad push. She keeps MTN MoMo as the default because most customers already use it.
FAQ
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Is MTN MoMo really free for my customers?
Yes, MTN MoMo merchant payments are typically 0% on the customer side, which lowers checkout friction. On the merchant side, budget an order of magnitude of 1.0% to 1.5%, negotiable by volume.
Which operator should I choose below GHS 20,000 per month?
At that volume the fee gap is small (often under GHS 100/month). Prioritise the operator your customers already use to maximise conversion, and add the second one later.
Does faster settlement actually matter?
Yes for cash flow: receiving funds same-day rather than T+2 improves your working capital, especially if you restock weekly. On GHS 40,000/month, two fewer days of delay matters for a small shop.
Can I offer both operators at the same checkout?
Yes, and it is recommended. A multi-operator checkout (MTN MoMo + Moov Money) can lift conversion by 15% to 30% by preventing customers from abandoning for lack of their preferred method.
Are merchant limits a blocker for a large shop?
Daily limits (GHS 25,000 to 100,000) cover most shops; above that, you raise limits via a KYC-verified merchant account. Plan ahead if your sales peaks exceed those thresholds.
Let's talk about your project. We set up your MTN MoMo + Moov Money checkout with the cheapest routing for your volume. 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.
