# TMoney

> Source: https://docs.barcoder.ai/docs/standards/tmoney
> research date 2026-05-29 · extracted at 2026-10-06
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Mixx Togo (TMoney) — Google Play](https://play.google.com/store/apps/details?id=tg.togocom.tmoney)

## Overview

**TMoney** is **Togo's dominant mobile-money platform**, operated by **Togocom (now Yas Togo)** — with **61% Togolese mobile-money market share** and **2.16+ million users** (Q1 2024) <sup>[1][1], [2][2], [Togo report](https://docs.barcoder.ai/docs/payments/TG)</sup>. TMoney leads Togo's mobile-money duopoly versus **Flooz** (Moov Africa Togo, 40% / 1.4M users). As of March 2024, Togo had **7.3 million mobile users + 3.55 million mobile-money users** total — high mobile-money penetration relative to population (~8M).

**Major 2025 structural development**: **Togocom separated mobile-money services into new entity TMoney S.A.** — established April 2025 with **CFA 1 billion share capital + registered as financial company** focusing on money transfers + e-money services. This **separation** reflects the broader **MNO-mobile-money-as-standalone-fintech-entity** pattern (Airtel Money IPO H1 2026, MTN MoMo separated subsidiary) — positioning TMoney for **independent strategic + regulatory + investment relationships** beyond Togocom's MNO operations.

**Competitive landscape**: **Gozem** (Francophone Africa-focused super-app) launched **Gozem Money** in Togo via **NSIA Bank Togo partnership** — adding fintech competition. **Orabank × Togocom offline mobile-money transfer service** illustrates Togolese bank-MNO collaboration. **BCEAO** (West African Central Bank) regulates Togolese payment infrastructure within **WAEMU CFA franc framework**.

## History

**Background — Togolese payment landscape** <sup>[Togo report](https://docs.barcoder.ai/docs/payments/TG)</sup>:
- **BCEAO** — West African Central Bank.
- **Togo** part of WAEMU/UEMOA monetary union.
- Major Togolese MNOs: Togocom (now Yas), Moov Africa Togo.

**TMoney launch by Togocom** <sup>[1][1]</sup>:
- Pan-Togolese mobile-money platform.

**Togolese mobile-money duopoly**: TMoney + Flooz <sup>[1][1]</sup>.

**Mar 2024 — 3.55M total MM users; TMoney 2.16M (61%)** <sup>[3][3]</sup>:
- High mobile-money penetration.

**Togocom × Orabank offline mobile-money transfer** [[orabank-tg]]:
- Bank-MNO collaboration.

**April 2025 — Togocom creates TMoney S.A. as separate entity** <sup>[1][1]</sup>:
- CFA 1B share capital.
- Registered financial company.

**Gozem Money competition** [[gozem-tg]]:
- Francophone-Africa-focused super-app entry.

## Technical specification

TMoney is **Togocom/Yas-operated Togolese mobile money with separated fintech entity** <sup>[1][1], [2][2]</sup>:

| Layer | Description |
|---|---|
| **Operator** | **TMoney S.A.** (separated April 2025 from Togocom/Yas) |
| **Currency** | XOF (West African CFA franc) |
| **Channels** | USSD, Mixx Togo (TMoney) app |
| **Active users (2024)** | 2.16+ million (61% TG market share) |
| **TG total MM users (2024)** | 3.55 million |
| **Major competitor** | **Flooz** (Moov Africa Togo, 40%) |
| **Regulator** | **BCEAO** (WAEMU framework) |
| **Bank partner** | Orabank (offline transfer) |
| **Share capital** | CFA 1 billion |

## Use cases

**P2P transfers** <sup>[1][1]</sup>: Cardinal use.

**Merchant payments** <sup>[1][1]</sup>: Togolese commerce.

**Bill payment** <sup>[Togo report](https://docs.barcoder.ai/docs/payments/TG)</sup>: Utilities + services.

**Airtime + data top-ups** <sup>[1][1]</sup>: Yas/Togocom mobile services.

**Offline transfers (via Orabank partnership)** [[orabank-tg]]: Connectivity-resilient.

**Cross-border via WAEMU framework** <sup>[Togo report](https://docs.barcoder.ai/docs/payments/TG)</sup>: BCEAO-coordinated CFA franc.

## Implementations & ecosystem

**Operator**: **TMoney S.A.** (subsidiary of Yas Togo / Togocom).

**Regulator**: **BCEAO**.

**Bank partner**: **Orabank**.

**Major TG competitors**: **Flooz** (Moov Africa Togo), **Gozem Money** (via NSIA Bank).

## Fun facts

- **2.16M TMoney users / 61% market share (Q1 2024)**: Substantial dominance.
- **April 2025 separate-entity creation**: Strategic fintech separation.
- **CFA 1B share capital**: Substantial founding capital.
- **TMoney + Flooz Togolese duopoly**: Two-MNO mobile-money market.
- **3.55M total MM users in 7.3M mobile-user population**: ~50% mobile-money penetration of mobile users.
- **Orabank offline-transfer partnership**: Connectivity-resilient design.
- **Yas rebrand**: Togocom → Yas Togo.
- **Gozem Money + NSIA Bank super-app competition**: Multi-fintech entry.

## Comparison

| Feature | TMoney (TG) | Flooz (TG) | [Orange Money QR](https://docs.barcoder.ai/docs/standards/orange-money-qr) (multi-Africa) | [Wave QR](https://docs.barcoder.ai/docs/standards/wave-qr) (WAEMU) | Gozem Money (TG) |
|---|---|---|---|---|---|
| Operator | TMoney S.A. (Yas/Togocom subsidiary) | Moov Africa Togo (Maroc Telecom group) | Orange Group | Wave (independent) | Gozem + NSIA Bank |
| Type | **MNO mobile money (dominant TG)** | MNO mobile money | MNO mobile money | Independent fintech | Super-app + bank |
| Users (2024) | **2.16M (61% TG)** | 1.4M (40% TG) | 40M (group) | 10M+ | New entrant |
| Separation | **April 2025 → TMoney S.A.** | n/a | n/a | n/a | n/a |

## Status

**Active, dominant + recently spun-off** <sup>[1][1], [2][2], [3][3]</sup>:
- **TMoney S.A. operator since April 2025**.
- **61% TG mobile-money market share / 2.16M users (Q1 2024)**.
- **Yas Togo / Togocom subsidiary**.
- **Competitive landscape with Flooz + emerging Gozem Money**.

## Sources

[1]: https://www.togofirst.com/en/telecom/2810-15076-togocom-launches-new-subsidiary-to-manage-mobile-money-segment "Togocom TMoney subsidiary — Togo First"
[2]: https://www.telecompaper.com/news/togocom-launches-tmoney-as-subsidiary-to-manage-mobile-money-segment--1517252 "Togocom TMoney subsidiary — Telecompaper"
[3]: https://www.togofirst.com/en/itc/0210-14907-as-of-march-2024-togo-had-7-3-million-mobile-users-including-3-55-million-mobile-money-users "TG mobile + MM users — Togo First"
[orabank-tg]: https://www.togofirst.com/en/itc/2405-14097-togolese-telco-togocom-and-lender-orabank-partner-to-offer-offline-mobile-money-transfer-service "Togocom × Orabank — Togo First"
[gozem-tg]: https://techcabal.com/2025/10/14/togos-gozem-expands-into-mobile-money-with-new-fintech-platform/ "Gozem Money TG launch — TechCabal"

- [1] [Togocom TMoney subsidiary — Togo First][1]
- [2] [Togocom TMoney subsidiary — Telecompaper][2]
- [3] [TG mobile + MM users — Togo First][3]
- [orabank-tg] [Togocom × Orabank — Togo First][orabank-tg]
- [gozem-tg] [Gozem Money TG launch — TechCabal][gozem-tg]
- <sup>[Togo report](https://docs.barcoder.ai/docs/payments/TG)</sup> `reports/countries/TG-togo.md`

## Deployments

Found in the following country reports (grep across `reports/countries/`):

- **TG** — [TG-togo.md](https://docs.barcoder.ai/docs/payments/TG)