# Senegal — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/SN
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **Wave** disrupted market (11M users, unicorn)
- **Orange Money QR** OTP/QR payments (5M users)
- **70%+ adults** mobile money access
- **CHANGE** interoperability platform
- **GIM-UEMOA** regional integration

## 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 | CBAO | Local | CBAO Mobile |
| 2 | Société Générale Sénégal | International | SG Mobile |
| 3 | Ecobank Sénégal | Pan-African | Ecobank Mobile |
| 4 | Banque Atlantique | Regional | Atlantic App |
| 5 | Bank of Africa Sénégal | Regional | BOA Mobile |

### Market Structure
- **Wave:** Disrupted (unicorn 2021)
- **Orange Money:** 5M users
- **70%+:** Mobile money access
- **Fee reduction:** 80% industry-wide

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| Wave | Wave | Mobile money | Dominant |
| Orange Money | Orange | Mobile money | Active |
| GIM-UEMOA | Regional | Interbank | Active |
| CHANGE | INTech | Interoperability | Active |

### Wave Disruption
- Launched 2018
- Free deposits/P2P
- Low withdrawal fees
- App + QR cards
- Unicorn 2021 ($200M Series A)

### Market Impact
- Orange/MTN cut fees 80%
- Competition intensified
- Consumer benefit
- Digital transformation

---

## QR code standards

### Wave QR

| Attribute | Value |
|-----------|-------|
| **Users** | 11M active (7.18M regular) |
| **Method** | App + physical QR cards |
| **Launch** | 2018 |
| **Status** | Dominant |

### Wave QR Features
- App-based scanning
- Physical QR cards
- Basic phone compatible
- Agent network
- Free P2P transfers

### Orange Money QR

| Attribute | Value |
|-----------|-------|
| **Users** | ~5M Senegalese |
| **Method** | OTP CODE or QR CODE |
| **App** | Orange Money Sénégal |

### Orange Money Features
- QR code payments
- OTP alternative
- Bill payments
- International transfers
- Credit/pass purchase

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| Wave | Wave | Yes | Dominant |
| Orange Money | Orange | Yes | QR + OTP |
| Free Money | Free | Limited | Mobile money |

### Wave Features
- Free deposits
- Free P2P transfers
- Low withdrawal fees
- Physical QR cards
- Agent transactions
- E-ticketing (BRT)

### Wave BRT Integration (2025)
- "SUNU BRT with WAVE"
- Dakar Mobilité partnership
- E-ticketing solution
- Wave app payment
- Transport digitization

### Orange Money Sénégal
- 5 million users
- QR or OTP payment
- National/international transfers
- Bill payments
- Account reloads

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [Wave QR](https://docs.barcoder.ai/docs/payments/SN/wave-qr) | Mobile + Card | QR | 11M users | [`wave-qr`](https://docs.barcoder.ai/docs/standards/wave-qr) |
| [Orange Money](https://docs.barcoder.ai/docs/payments/SN/orange-money) | Mobile QR | OTP/QR | 5M users | — |
| [GIM-UEMOA](https://docs.barcoder.ai/docs/payments/SN/gim-uemoa) | Regional | Switch | Active | — |

## Sources

- [TransFi - Senegal Payment Rails](https://www.transfi.com/blog/senegals-payment-rails-how-they-work---gim-uemoa-wave-mobile-money-instant-transfers)
- [PayDunya - SOFTPAY QR](https://developers.paydunya.com/doc/EN/softpay)
- [Google Play - Orange Money Sénégal](https://play.google.com/store/apps/details?id=com.orange.mobile.orangemoney)
- [CHANGE - Interoperability](https://change.sn/)
- [Quartz - Wave Unicorn](https://qz.com/africa/2189528/how-wave-rose-to-become-francophone-africas-first-unicorn)
- [Rest of World - Wave Disruption](https://restofworld.org/2022/how-wave-is-disrupting-francophone-africas-mobile-money-market/)
- [African Business - Wave Interview](https://african.business/2023/04/technology-information/senegal-is-experiencing-mobile-money-revolution-says-waves-west-africa-director)
- [LaunchBase Africa - Wave BRT](https://launchbaseafrica.com/2025/02/05/fintech-unicorn-wave-takes-over-senegals-largest-e-ticketing-system/)

## Full country report

[SN-senegal.md](https://docs.barcoder.ai/docs/payments/SN)