MoloMoloPay is a Cameroonian financial technology app that makes installment payments accessible to more consumers. 

The fintech app was developed by a Cameroonian start-up of the same name. It lets users “choose an item and start saving until they can buy it.” Founded in 2023 by Oussoumanou Sehou, the company has offices in Abidjan (Côte d’Ivoire), Douala (Cameroon), and Mauritius.

The service operates through a mobile app available on iOS and Android, which has already recorded over 100,000 downloads, according to Play Store data. After installing the app, users register, choose an item, such as a smartphone, home appliance, or motorcycle, and make payments at their own pace. Once the full amount is saved, they can collect the product.

This model addresses regional realities, notably the widespread use of mobile money services like Orange Money and MTN MoMo, and a young population eager to access durable goods. The app integrates these payment methods and offers more than 5,000 products across over 100 categories through its partner network. Since its launch, MoloMoloPay says it has attracted 250,000 active users and generated more than 10 billion CFA francs (around $17.6 million) in revenue.

MoloMoloPay’s rise comes as digital payment solutions grow across Africa, even as the traditional “Buy Now, Pay Later” credit model remains underdeveloped. By using a savings-based approach instead of credit, the app minimizes users’ financial risk and opens installment payment options to those excluded from formal banking.

For partner merchants, MoloMoloPay creates a new distribution channel, enabling them to reach more customers without requiring upfront payment until the purchase is fully funded.

The company still faces key challenges: ensuring users remain consistent in their savings, streamlining delivery logistics, and building trust in a rapidly evolving digital ecosystem.

Adoni Conrad Quenum