Since the inception of mobile money services back in 2009, telecom companies have continually had an impact on African markets particularly from an innovation and financial perspective. In Uganda, MTN has been a leader in this domain with MTN MoMo (Mobile Money) and helped shape the evolution of mobile money from USSD-led mobile money 1.0 to smartphone-led mobile money 2.0 with the introduction of the MTN MoMo app .
But how do the services stack up against fintech-led apps like Wave mobile money? Let’s find out in the Wave mobile money vs MTN MoMo comparison, in which we take a closer look at everything from features and service charges to offline usage and utility payments. Let’s dive in!
1. Sending Charges
Speaking of sending fees, this is the department Wave mobile money decided to go toe-to-toe with MTN MoMo from the beginning of its operations. Wave mobile money charges a 1% fee when you are sending money from one Wave wallet to another and a maximum flat fee of 12,500UGX for any transaction over 1,250,000UGX .
On the other spectrum, MTN has different tiers of sending costs when you are sending money between MTN MoMo wallet or cross-network.
One thing worth mentioning is that you can send money for free to MTN MoMo registered customers using the MTN MoMo app regardless of any amount.
Here is a breakdown of the sending charges between Wave Mobile money and MTN MoMo in Uganda;
| Min | Max | MTN MoMo to MTN | MTN to other Networks | Wave Mobile Money |
|---|---|---|---|---|
| 500 | 2,500 | 30 | 830 | 25 |
| 2,501 | 5,000 | 100 | 940 | 50 |
| 5,001 | 15,000 | 350 | 1,880 | 100 |
| 15,001 | 30,000 | 500 | 2,310 | 300 |
| 30,001 | 45,000 | 600 | 2,310 | 450 |
| 45,001 | 60,000 | 750 | 2,500 | 600 |
| 60,001 | 125,000 | 1,000 | 3,325 | 1,000 |
| 125,001 | 250,000 | 1,100 | 4,975 | 2,500 |
| 250,001 | 500,000 | 1,250 | 7,175 | 5,000 |
| 500,001 | 1,000,000 | 1,250 | 12,650 | 10,000 |
| 1,000,001 | 2,000,000 | 1,250 | 22,000 | 12,500 |
| 2,000,001 | 4,000,000 | 1,250 | 37,400 | 12,500 |
| 1,000,001 | 5,000,000 | 1,250 | 55,000 | 12,500 |
2. Withdraw Charges
Let’s look at how much each mobile services charge you when you withdraw money from your wallet.
MTN MoMo is a disadvantage in this docket as on top of the withdrawal fees, there is an additional 0.5% OTT tax levied on the customer when they withdraw money from their MTN MoMo wallets. This makes the service relatively expensive and for cost-sensitive customers alternatives like Wave mobile money are safe heavens and much cheaper.
Withdraws of money from your Wave mobile wallets are free of charge and as of now free of the government tax i.e. the OTT tax like its competition.
Here is a side-by-side comparison of the withdrawal charges of Wave mobile money and MTN MoMo;
| Min | Max | MTN MoMo | Wave Mobile Money |
|---|---|---|---|
| 500 | 2,500 | 330 | Free |
| 2,501 | 5,000 | 440 | Free |
| 5,001 | 15,000 | 700 | Free |
| 15,001 | 30,000 | 880 | Free |
| 30,001 | 45,000 | 1,210 | Free |
| 45,001 | 60,000 | 1,500 | Free |
| 60,001 | 125,000 | 1,925 | Free |
| 125,001 | 250,000 | 3,575 | Free |
| 250,001 | 500,000 | 7,000 | Free |
| 500,001 | 1,000,000 | 12,500 | Free |
| 1,000,001 | 2,000,000 | 15,000 | Free |
| 2,000,001 | 4,000,000 | 18,000 | Free |
| 1,000,001 | 5,000,000 | 20,000 | Free |
3. Deposit Charges
All savings and money institutions operate with the same principles. Allow customers to deposits money on their platform for free and charge on withdraws or service charges. This has been the commandment for generations and is the same with these mobile money platforms.
Both MTN MoMo and Wave mobile money don’t charge the customer for wallet top-up or deposits. However, with MTN MoMo you need to verify to the agents you are depositing on your own mobile number or you will be charged 1000UGX or 2000UGX depending on how much you are depositing.
For Wave mobile money, your account details have to match the person depositing money, or else it will be considered as sending and will be charged a 1% fee on the amount you are transacting.
4. Offline Access
Offline access is still one of the major reasons for the growth and widespread adoption of mobile money technology. Both MTN MoMo and Wave offer the option for customers to withdraw or deposit money and pay utility bills without the use of the internet or offline.
MTN MoMo leverages the use of its USSD option of *165# . The list of services you can do with the USSD includes bill payments, school fees payments, deposits, and withdrawal of funds among others.
Wave mobile money on the other hand uses a QR code on a card for offline access. Customers without a smartphone are registered and given a card with a QR code which they can use to deposit and withdraw money from their Wave accounts. Utility payments aren’t supported with that option at the moment but I believe it’s a matter of time that option is introduced for users with physical cards.
5. Utility Payment
With the boom of the app economy and smartphones, we’re now seeing a push to widen the use cases of mobile money services beyond domestic remittances and utility payments is one of those value propositions mandatory to any mobile money service recently.
Both MTN MoMo and Wave offer utility payments through their services. MTN has the advantage of using both the USSD and the MTN MoMo app. However, the service charges on each transaction make it less desirable and slightly costly compared to Wave mobile money where Utility payments on selected services are currently free.
The other upside with MTN MoMo is the myriad of services you can pay using the services. From School fees to Car parking and NSSF. MTN MoMo offers more payment services than Wave.
| Gold Package | Platinum Package | Gold Plus Package | Platinum Plus Package | |
|---|---|---|---|---|
| Data Bundles | 25GB | 50GB | 75GB | 150GB |
| Voice Minutes | 800 minutes Airtel to Airtel for Airtel to Airtel Calls 100 minutes for Airtel to Other Networks | 800 minutes Airtel to Airtel for Airtel to Airtel Calls 200 minutes for Airtel to Other Networks | 1500 minutes for Airtel to Airtel Calls 300 minutes for Airtel to Other Networks | 1500 minutes for Airtel to Airtel Calls 300 minutes for Airtel to Other Networks |
| SMS Bundles | 200 sms | 300 sms | 1000 sms | 1000 sms |
| Price (UGX) | 60,000shs | 110,000shs | 150,000shs | 250,000shs |
| Offers | 30 Days Free Showmax Mobile 30 Days Airtel TV Subscription | 30 Days Free Showmax Mobile 30 Days Airtel TV Subscription | 30 Days Free Showmax Mobile 30 Days Airtel TV Subscription | 30 Days Free Showmax Mobile 30 Days Airtel TV Subscription |
6. Agent Networks and Availability
Agent networks have been the backbone of Mobile Money services and extension of financial networks to the average citizen. MTN Group has developed its agent networks for over 2 decades and MTN MoMo banners are available in almost every corner and street countrywide.
Wave mobile money is still a new fish in the water and is establishing its presence by investing in their agent’s network as well. They are in no way close compared to MTN MoMo however, you can’t fail to find an agent to withdraw or deposit your money from at the moment. You can check the availability of a Wave agent near you using the Wave app or simply click this link to check.
The Verdict
Telecom companies are increasingly becoming reluctant to invest and offer services at an affordable cost for customers ever since they hit the jackpot of mobile money services. Instead, service charges are rising.
Disruption is unavoidable in any market and these fintech apps are here to give telcos a run for their customers. Personally, I would choose Wave Mobile Money over MTN MoMo due to cost. Let us know in the comment sections your thoughts and which service you choose and why?
Solomon Obwot is a tech writer based in Kampala, Uganda, with extensive experience in the local tech startup ecosystem. He covers the latest news and analysis on consumer tech, writes in-depth smartphone reviews, and conducts insightful interviews with industry experts. Solomon is also a passionate podcaster, sharing his knowledge and engaging in discussions about Africa’s rapidly growing tech landscape. Send emails to [email protected]
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Talkio Mobile , Uganda’s newest telecommunications service provider, is excited to announce a groundbreaking partnership with Banana Life Investments, a leading chain of mobile phone and retail shops. This strategic alliance aims to bring Talkio’s innovative telecom services closer to Ugandans.
This collaboration will leverage Banana Life Investments’ extensive retail network of 26 stores strategically located across Uganda in major malls, towns, and cities to provide customers with unparalleled convenience. Through this partnership, Talkio Mobile will offer its full suite of services, including SIM cards, airtime, and exclusive product offerings at any Banana Life Investment location.
This partnership is more than a business initiative—it’s a shared commitment to transforming lives. By integrating Talkio Mobile’s forward-thinking services & nationwide reach with Banana Life Investments’ retail footprint, the two brands are setting a new standard for customer convenience and inclusivity.
READ ALSO: 5 Things You Need to Know About Talkio Mobile: New Telecom Company in Uganda
“This partnership aligns perfectly with our mission of connecting Ugandans to innovative and transformative telecom solutions,” said Vianne Allan Ahura, CEO of Talkio Mobile. “By leveraging Banana Life Investments’ trusted presence and nationwide footprint, we are not only expanding our agent network but also bringing our services closer to the communities we serve. This collaboration ensures that our online customers can now enjoy a seamless offline experience right at their doorstep. Together, we are empowering Ugandans with the tools they need to stay connected, grow their businesses, and unlock new opportunities.”
Solomon Ssemuyaba, the assistant general manager at Banana Life Investments, echoed this sentiment: “We are proud to join hands with Talkio Mobile to deliver innovative, customer-centric solutions. This partnership represents our shared vision of fostering a connected future for Uganda. Together, we are redefining what convenience and accessibility mean for our customers.”
The partnership goes beyond retail distribution, introducing joint initiatives aimed at value addition and personalized service. Customers can expect seamless access to:
- SIM Card Sales : Available at all Banana Life Investments locations.
- Talkio phone number bookings : Book your preferred Talkio number at any Banana Life Investments location.
- Airtime Services : Recharge easily through in-store purchases.
- Customer Support : Friendly and knowledgeable staff trained to assist with Talkio Mobile products and services.
Additionally, the two companies plan to launch promotional campaigns and expand services to even more locations, ensuring no Ugandan is left behind in the digital transformation.
Solomon Obwot is a tech writer based in Kampala, Uganda, with extensive experience in the local tech startup ecosystem. He covers the latest news and analysis on consumer tech, writes in-depth smartphone reviews, and conducts insightful interviews with industry experts. Solomon is also a passionate podcaster, sharing his knowledge and engaging in discussions about Africa’s rapidly growing tech landscape. Send emails to [email protected]
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The Mobile World Congress (MWC) Barcelona , the world’s largest exhibition for the mobile industry, has just concluded. This annual event gathers leading technology brands to unveil groundbreaking mobile, AI, and digital solutions innovations. At MWC 2025, TECNO showcased a range of AI-driven products, reinforcing its commitment to cutting-edge technology.
The key launches included:
- CAMON 40 Series – AI-powered smartphones with One-Tap FlashSnap and advanced mobile imaging features.
- MEGABOOK S14 – The world’s lightest 14-inch OLED laptop, featuring AI-enhanced multitasking and Snapdragon® X Elite.
- MEGABOOK T14 Air & K15S – Lightweight ultrabooks with AI capabilities and extended battery life.
- TECNO AI Glasses Series – Smart eyewear integrating AI imaging, translation, and AR display.
Jan Stryjak, Associate Director at Counterpoint Research, shared, “In the past year, we have observed significant advancements in the field of AI. AI will continue to drive transformative changes in our daily lives. In this critical period for the economic development of emerging markets, TECNO’s AI technologies are unlocking potential for diverse needs.”
“The application of AI technologies is crucial and urgent in emerging markets. We’re committed to bridging the digital gap between emerging and mature markets,” said TECNO CMO, Laury Bai. “TECNO is taking a practical approach to make AI more accessible, ensuring users in emerging markets can access AI and cutting-edge technologies.”
Laury Bai, TECNO CMO
Driven by its commitment, TECNO has forged a robust partnership with MediaTek, establishing a joint AI laboratory dedicated to accelerating advancements in AI. At the event, James Chen, Vice President of Product and Technology Marketing at MediaTek, emphasized, “The synergistic R&D efforts between TECNO and MediaTek are set to democratize AI technology. Our collaboration powers a seamless, interconnected AI experience, bringing users a future of truly connected intelligence.”
James Chen, Vice President, Product and Technology Marketing at MediaTek
CAMON 40 Series Powered by AI One-Tap FlashSnap Revolutionizes Smartphone Snapshot Photography
TECNO’s Global Product Launch Officer, Olivier Mas, officially unveiled TECNO’s next-generation AI-driven products. Attendees at TECNO’s launch event witnessed the highly anticipated debut of TECNO’s new CAMON 40 Series, a device that embodies TECNO’s legacy of excellence in mobile imaging. Featuring One-Tap FlashSnap Mode and TECNO AI, the series sets a new benchmark in smartphone photography, delivering exceptional snapshot capabilities and AI-enhanced user experiences.
Olivier Mas, TECNO Global Product Launch Officer
The CAMON 40 Series exemplifies a commitment to innovation that transcends hardware and software, extending into strategic partnerships that deliver cutting-edge AI solutions to emerging markets. Matt Waldbusser, Managing Director of Global Solutions and Consumer AI at Google Cloud, remarked, “Our collaboration with TECNO on the CAMON 40 Series is a standout example. Leveraging Google Cloud’s capabilities, we’ve introduced groundbreaking features such as Ask Ella, AI Image Generator, AI Writing, and AI Translate. I am particularly impressed by the industry-leading and competitive edge of some of these innovations. For instance, TECNO’s AI supports text translation in 136 languages, voice translation in 44 languages, and photo translation in 51 languages. We are excited to further strengthen our partnership with TECNO, unlocking limitless potential to bring advanced yet practical AI capabilities to emerging markets in a convenient and secure manner.”
Matt Waldbusser, Managing Director of Global Solutions and Consumer AI at Google Cloud
The CAMON 40 Series’ innovative One-Tap FlashSnap leverages AI to enhance imaging capabilities, revolutionizing mobile photography. AI optimizes camera startup and continuous shooting for instant captures, while AI-powered multi-frame processing intelligently reduces noise and enhances details, delivering sharper, more refined images. Additionally, the BestMoment algorithm analyzes motion patterns, automatically selecting the optimal frames for precise, high-quality shots in dynamic scenarios, ensuring users an unparalleled mobile imaging experience.
TECNO CAMON 40 Demonstrates the Cutting-Edge FlashSnap Capability
To delve deeper into the imaging prowess of the CAMON 40 Series, TECNO invited Frédéric Guichard, CEO of DXOMARK, to share the image performance of CAMON 40 Pro. Frédéric highlighted, “The CAMON 40 Pro 5G has demonstrated exceptional imaging and performance capabilities in our rigorous evaluations. We’ve been particularly impressed with photo performance being the best for devices under 600$, and the 1st eligible device to our Smart Choice Label.”
Onsite photo of Frédéric Guichard, CEO of DXOMARK
Beyond its advanced rapid-capture functionality, the integration of TECNO AI further enhances the device’s capabilities. Intelligent imaging, a 360° AI Call Assistant, and productivity tools elevate creativity and efficiency. Powered by MediaTek’s latest chipsets, the series ensures smooth performance, fast processing, and extended battery life. With a sleek, durable, and water-resistant design, it seamlessly blends style with practicality for modern users.
MEGABOOK S14, the World’s Lightest 14-inch OLED Laptop, Inspires Creators and Game Lovers
The MEGABOOK S14 is TECNO’s first OLED laptop and the industry’s lightest 14-inch OLED laptop, featuring a 2.8K OLED display and incredibly weighing only 899g (31.7oz). The laptop is equipped with the outstanding power of the Snapdragon® X Elite compute platform, the flagship chipset for AI PCs from Qualcomm Technologies, and integrates TECNO’s world’s first self-developed edge-side large-scale AI model, to achieve AI-enhanced multitasking.
World’s Lightest 14-inch Laptop MEGABOOK S14
Specifically designed for next-gen AI productivity, TECNO AI enhances the Ella AI Assistant, AI-powered PPT generation, AI-driven image search, smart albums, and offline meeting transcription with multilingual support. The External Graphics Dock, equipped with a powerful NVIDIA graphic card, delivers scalable, high-performance capabilities for design, gaming, and content creation. The laptop’s 2.8K OLED display with a 120Hz refresh rate ensures exceptional visuals, while DTS:X Ultra dual 2W speakers, Wi-Fi 6E, fingerprint login, and PC Manager optimize connectivity and user experience.
TECNO’s strategic partnership with Qualcomm Technologies was a highlight of the TECNO AI Ecosystem Product Launch event, demonstrating a shared vision for the future of AI PCs. Kedar Kondap, SVP & GM of Compute and Gaming at Qualcomm, took the stage to discuss the integration of Qualcomm’s cutting-edge PC chipset into the new MEGABOOK S14 laptop, underscoring TECNO’s commitment to delivering high-performance computing solutions.
Kedar Kondap, SVP & GM of Compute and Gaming at Qualcomm
In addition, TECNO also introduced several standout new products. The featherlight 999g (35.2oz) ultrabook MEGABOOK T14 Air, features high-speed storage and LPDDR5 memory, while the ultra-thin, all-metal MEGABOOK K15S, equipped with a powerful 70Wh battery and supported by a 65W PD GaN charger, offers a smarter and more long-lasting user experience. Both devices are empowered by TECNO AI with advanced AI capabilities such as AI Album and AI Voice Assistant, making them perfect companions for all aspects of life.
The Next Game-Changing Tech Innovation: See the World with the TECNO AI Glasses Series
TECNO’s new AI Glasses Series also took center stage with the introduction of TECNO AI Glasses Pro and TECNO AI Glasses, reimagining eyewear with cutting-edge imaging, intelligent interactions, and a sleek aesthetic. The TECNO AI Glasses feature an aviator design, while the Pro model showcases a browline style, both embodying timeless elegance and modern fashion.
TECNO AI Glasses Redefine the Way People See the Future
Equipped with a 50MP high-definition camera, the series integrates an OV50D sensor, a 100° ultra-wide-angle custom lens, and an AI ISP imaging chip, forming a mobile-grade imaging system. This system lets users capture stunning, high-resolution photos with advanced AI noise reduction and HDR capabilities. With real-time translation supporting over 100 languages, TECNO AI’s Ella empowers accurate translation even for less common languages, as well as voice control, AI-powered object recognition, and intelligent information summaries for ultimate convenience.
Additionally, the AI Glasses Pro features a MicroLED display with 7th-gen resin waveguide technology, offering a 30° field of view, over 1,500 nits of brightness AR display, and a lightweight, ultra-thin design. The AR display allows users to effortlessly enjoy features like translation display, navigation, information prompts, and teleprompting.
Equipped with a 250mAh battery, these glasses offer over 11 hours of music playback and 8 hours of mixed use with just 30 minutes of charging. An advanced ultra-linear speaker, bass enhancement, and spatial sound deliver an immersive audio experience, while Wi-Fi 6 and Bluetooth 5.4 ensure seamless connectivity.
With these innovative launches, TECNO is setting new standards in mobile imaging and AI-enhanced technology, shaping a more connected and empowered future for consumers in emerging markets. Once again, TECNO has showcased its cutting-edge innovation on the global stage at MWC. With the brand essence of “Stop at Nothing”, TECNO’s relentless pursuit of innovation is making AI-powered technology more accessible, allowing consumers to experience the future ahead of time.
Solomon Obwot is a tech writer based in Kampala, Uganda, with extensive experience in the local tech startup ecosystem. He covers the latest news and analysis on consumer tech, writes in-depth smartphone reviews, and conducts insightful interviews with industry experts. Solomon is also a passionate podcaster, sharing his knowledge and engaging in discussions about Africa’s rapidly growing tech landscape. Send emails to [email protected]
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