Mobile money interoperability, accounts for 1% of transaction value in half-year 2025

… despite overall  sector growth

By Ebenezer Chike Adjei NJOKU

Mobile money interoperability transactions accounted for just one percent of the total mobile money transaction value between January and June 2025, a pointer to the relatively limited uptake of cross-network transfers in the country’s otherwise rapidly expanding digital payments ecosystem.

According to the Bank of Ghana’s July 2025 Summary of Economic and Financial Data, interoperability transaction values ranged from GH¢2.9billion in January to GH¢4.5billion in May – falling to GH¢3.9billion in June.

In contrast, the total value of mobile money transactions over the same period stood between GH¢316.2billion and GH¢365billion monthly, with June closing at GH¢323.2billion.

On average, interoperability accounted for approximately 1.1 percent of the monthly transaction value. This shows that most mobile money activity continues to occur within rather than across networks.

The interoperability platform, launched in 2018, was intended to reduce such fragmentation in the digital payments space by allowing users to transfer funds across different networks.

Despite this relatively low share, interoperability usage by volume has steadily increased – with the number of monthly cross-network transactions rising from 19.4 million in January to 24 million in May before easing slightly to 23.3 million for June this year, showing a growing familiarity with the interoperability platform.

Broad market

Overall, the mobile money sector maintained robust growth across key indicators in first-half 2025. The total number of registered mobile money accounts increased from 73.5 million in January to 76.4 million by June. Similarly, active accounts rose marginally from 23.6 million to 24.5 million over the six-month period.

Mobile money transaction volumes remained consistently high, peaking at 796 million in May and closing June at 735 million as the sector maintains a central role in the domestic payments space for individual consumers and small businesses.

The number of registered mobile money agents grew from 886,000 in January to 923,000 in June, showing a steady increase in enrolment.

However, this growth did not lead to a rise in active agents. The number of active agents increased slightly from 405,000 in January to 424,000 in May, but dropped to 423,000 in June.

Despite the small gain, the June figure is still 23.23 percent lower than the 551,000 active agents recorded in the same month last year. This has raised concerns about reduced agent profitability or regulatory issues affecting their operations.

Meanwhile, the balance on float – the value of funds held in mobile money accounts – rose steadily from GH¢26.3billion in January to GH¢28.9billion for June. This 10 percent increase, analysts say, indicates that more users are keeping larger amounts of money in their digital wallets – pointing to greater trust in mobile money as a store of value and medium of exchange.

Industry analysts say improving interoperability in the financial sector will require a mix of user education, transaction incentives and a better user experience.

They note that although cross-network transfers are technically possible, usage remains low. For interoperability to become widespread, it must offer clear benefits and cost the same as transfers within the same network.

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