Payments/TG
Togo
ISO TG · 3 schemes
Summary
- TMoney dominant (61% market)
- Flooz competitor (39% market)
- 45.4% mobile money penetration
- GIM-UEMOA regional integration
- Gozem Money new entrant 2024
Banking landscape
Central Bank
- Name: BCEAO (Central Bank of West African States)
- Website: https://www.bceao.int/
- Role: Regional monetary policy (WAEMU zone)
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Ecobank Togo | Pan-African | Ecobank Mobile |
| 2 | UTB (Union Togolaise de Banque) | Local | UTB Mobile |
| 3 | Orabank Togo | Regional | Orabank App |
| 4 | BTCI | State | BTCI Mobile |
| 5 | Banque Atlantique | Regional | Atlantic App |
Market Structure
- TMoney: 61% market share (Togocom)
- Flooz: 39% market share (Moov Africa)
- 3.55M users: Total mobile money
- 45.4%: Penetration rate
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| TMoney | Togocom | Mobile money | Dominant |
| Flooz | Moov Africa | Mobile money | Active |
| GIM-UEMOA | Regional | Interbank | Active |
| Gozem Money | Gozem | Mobile money | 2024 |
TMoney Performance (Q1 2024)
- CFA 649 billion transactions
- 11% growth
- 2.16 million users (60%)
- Togo Cellulaire operator
Flooz Performance (Q1 2024)
- CFA 269 billion transactions
- 12% decline
- 1.4 million users (40%)
- Moov Africa Togo
QR code standards
Limited QR Implementation
| Attribute | Value |
|---|---|
| National QR | Not standardized |
| TMoney | USSD/App primary |
| Flooz | USSD/App primary |
| GIM-UEMOA | Card-focused |
Mobile Money Dominance
- USSD primary channel
- App-based access
- Agent networks
- QR secondary
Gozem Money (2024)
- Full interoperability
- All operators compatible
- Top-up capability
- Transfer across platforms
- Platform purchases
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Mixx Togo | Togocom | Limited | TMoney |
| Moov Money | Moov Africa | Limited | Flooz |
| Gozem Money | Gozem | Yes | Interop |
TMoney Features
- Money transfers
- Bill payments
- Airtime purchase
- Agent network
- 61% market leader
Flooz Features
- Money transfers
- Bill payments
- Airtime purchase
- Agent network
- 39% market share
Gozem Money (New)
- Super-app platform
- Full interoperability
- Multiple operators
- Transport integration
- Late 2024 launch
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| TMoney | Mobile money | App/USSD | 61% | tmoney |
| Flooz | Mobile money | App/USSD | 39% | flooz |
| GIM-UEMOA | Interbank | Cards | Active | — |
Sources
- TransFi - Togo Payment Rails
- Ecofin Agency - Gozem Money
- Togo First - Togocom Subsidiary
- La Poste Togo - TMoney/Flooz
- Google Play - Mixx Togo
- Togo First - Mobile Money Inclusion
- Tech Cabal - Gozem Expansion
- Novalnet - Togo Payments
Full country report
Schemes
Standards
Mentioned · 1