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Benin

West African CFA franc (XOF)

While cash remains the dominant payment method in Benin, there has been an increase in the popularity of mobile money. The government has taken steps to encourage digital payments, such as facilitating interoperability between mobile money operators. However, the introduction of sector-specific taxes on digital transactions, including money transfers and withdrawals, is aimed at boosting domestic tax revenues.

Population

13,352,864

Banked Population:

48.61%

Group 427321246

Main industries

Cotton, Textile, Agriculture, and Oil

Group 427321247

Main imports

Rice, Cars, Palm Oil, Poultry Meat,
and Light Pure Woven Cotton

Group 427321248

Main exports

Gold, Raw Cotton, Refined Petroleum,
Oily Seeds, and Coconuts, Brazil Nuts, & Cashews

GDP stats

$1,303.2

Per capita (USD)

6.3%

Growth annually

138

World ranking

Internet usage

34%

Smartphone usage

13%

Credit/debit card usage

13%

Population transacting electronically

28%

Group 427321245 1

Total volume of digital payments projected to reach

 $4,260.00M (USD)

Payment Methods in Benin

All
  • All Methods
  • Mobile Money

Moov Money Benin

Mobile Money

MTN Mobile Money Benin

Mobile Money

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