What Will It Take to Scale Merchant Payments? Harnessing the Digital Opportunity

Mobile money has expanded access to digital financial services across low- and middle-income countries, yet cash continues to dominate everyday transactions, particularly for micro and small merchants. While mobile money is widely used for person-to-person transfers, the shift to digital payments for goods and services has been slower and uneven across markets.

In recent years, mobile-enabled merchant payment solutions have grown in scale and sophistication, supported by the expansion of mobile money ecosystems and instant payment infrastructure. However, awareness of recent developments and what drives successful adoption remains limited, and many merchants and customers continue to face barriers related to affordability, usability, trust, and supporting infrastructure.

This report aims to address these gaps by examining what it will take to scale merchant payments sustainably. It draws on market data, regional experiences, and practical examples from across the mobile money ecosystem, including insights from providers that have expanded merchant payment services and those that have encountered challenges to scale.

The lessons outlined in this report highlight the importance of merchant-centric design, reliable and affordable payment solutions, and supportive regulatory and ecosystem frameworks. Applied in a coordinated manner, these approaches can help accelerate the transition from cash to digital payments, deepen financial inclusion, and support more resilient and inclusive economies.