Business

MTN MoMo PSB’s active wallet users hit 5.3 million in 2023  

MTN Nigeria has reported that its MoMo Payment Service Bank (PSB) reached 5.3 million active wallet users on its platform as of December 2023. 


According to MTN, MoMo PSB was able to grow its wallet users by 3.3 million to achieve the feat. This company disclosed this in its full-year 2023 financial results, which shows how its fintech business has been impacting the company’s overall performance.   


MTN stated that the PSB gained more traction by expanding its agent network in the year by 103,000 to 327,000. The company’s active merchant ecosystem, which started in March 2023, also reached over 324,000 by December 2023, according to the company’s records.