Pulse Picks
MTN MoMo vs Airtel Money: Which is Better?
Asides from having your bank accounts on your phone, having your mobile money service by using your network providers is another way of making easy payments.
If you’re sending money to someone in a different state, paying your electricity bill, or simply trying to avoid the long queues at the ATM, mobile money has quietly become one of the most reliable tools for everyday financial life in Nigeria. But with two major players, MTN MoMo and Airtel Money, having similar services, which one is truly better?
Let’s break it all down from what these services actually are, to how much they cost, and what it’s like to use them in real life.
What Is MTN MoMo?
MTN MoMo (short for Mobile Money) is MTN’s digital wallet and payment platform, now officially operated in Nigeria by MoMo Payment Service Bank (MoMo PSB). It allows you to perform financial transactions right from your phone without the need for a traditional bank account.
You can use it to:
Send and receive money.
Pay bills (electricity, water, DSTV, etc.).
Buy airtime and data.
Make withdrawals from MoMo agents.
Save money in a mobile wallet.
In some countries, access a MoMo Debit Card for ATM and POS transactions.
It’s very useful for people in areas without reliable access to banks, and for anyone who just wants quicker, hassle-free payments.
Read Also: 9 Best Crypto Trading Platforms for Nigerians in 2025
What Is Airtel Money?
Airtel Money, operated by SmartCash PSB in Nigeria, is Airtel’s own mobile wallet platform. Like MoMo, it allows users to carry out financial transactions from their phones, without needing to open a traditional bank account.
Services include:
Sending and receiving money (even to bank accounts)
Buying airtime and data.
Paying bills.
Getting a virtual Airtel Money Mastercard for online international purchases.
Making withdrawals or deposits through Airtel Money agents.
Read Also: 5 Legit Websites to Buy and Ship Tokunbo Cars at Cheap Prices
Airtel Money has a more digital-first, online shopping-friendly feel, especially with its global virtual card support.
Fees and Charges
In terms of pricing, both services are fairly affordable, but they do have their differences.
MTN MoMo
Transfers to other MoMo users: Low or no charge.
Transfers to banks or other networks: 1% – 1.5% (varies by amount).
Withdrawals at MoMo agents: Small fee based on the amount withdrawn.
Bill payments: Usually free or come with small convenience charges.
Airtime purchases: No charge.
Airtel Money
Transfers to Airtel Money users: Free or minimal charge.
Transfers to other networks/banks: Slightly cheaper than MTN in many cases.
Virtual card use: Charges may be applied based on foreign exchange conversion and Mastercard rules.
Airtime/data purchases: Free
Withdrawals via agent: Affordable and slightly lower than MTN in some states.
Airtel Money often appeals to users making frequent online purchases due to the flexibility of the Mastercard integration. At the same time, MoMo focuses more on in-person and day-to-day local utility.
Ease of Use
Both platforms are USSD-based, meaning you don’t need mobile data or a smartphone to use them.
MTN MoMo: Dial *671#
Airtel Money: Dial *939#
They both also have apps (MoMo App and SmartCash PSB App), but for most Nigerians, the USSD method is the go-to, especially in areas with poor internet connection.
You can register without a BVN, but having one unlocks more transaction limits. And with over 170,000 MoMo agents across Nigeria and thousands of Airtel Money agents, cashing in or out isn’t hard to find.
Real-Life Performance and Network Strength
The reliability of your mobile money service also depends on how stable the network is. MTN generally has wider coverage across Nigeria, especially in more remote areas, so MoMo tends to have fewer downtimes. Airtel performs well in major cities and towns, but in more rural regions, users often report slower service or limited access to agents.
For bill payments, both are quick and instant. You get SMS confirmation and you can even retrieve receipts later.
Unique Perks
MTN MoMo:
More agent coverage nationwide.
Coming soon: physical debit cards for withdrawals and payments.
Better for people who do more local, offline transactions.
Airtel Money:
Virtual Mastercard for online shopping and international payments.
Cheaper transfer fees in some regions.
Good for those who shop or pay for services online (Spotify, Netflix, Amazon, etc.)
There’s no one-size-fits-all answer. It depends on what you need it fIn the end, both services are easy to register for, quick to use, and backed by strong telecoms and banking regulations. Honestly, many savvy users register for both and switch depending on what works better at the time, due to factors such as network speed, transfer fees, or card access.
