Multicaixa Express is now the most widely used payment method in Angola, with a 55% growth in 2023.

The channel 'beat' conventional operations using the Multicaixa card and Automatic Payment Terminals. In the 12 months of 2023, the application recorded close to 600 million transactions.

In 2023, the Multicaixa Express payment application led the list of payment methods most used by bank customers, growing 54.9% to a total of 595.3 million transactions compared to 2022, according to the study 'Banca em Análise', by the consultancy firm Deloitte.

In practice, the service has left behind the traditional electronic payment method using the Multicaixa card and payments via TPA.

According to the study, the Digital/Technological Development Program (Multicaixa Express) shows potential growth given its popularity, which can be seen in data released by Empresa Interbancária de Serviços, S.A. (EMIS). In 2023 alone, 595.3 million MCX transactions were recorded, which corresponds to 54.9%, compared to the 384.4 million recorded in 2022, thus representing 13.7%.

The transactions carried out through the digital channel have a higher value than the amount transacted in Automatic Payment Terminals (TPAs), reaching in 2023, around 7,416 billion KZ (27% of the total value), which reflects a growth of 28.3% compared to 2022, when an amount of 5,780 billion KZ was recorded.

Other Electronic Payment Methods

The use of Electronic Payment Methods (TPAs) in that period increased by around KZ 6,291,386 million (25%), compared to KZ 4,925,852 million (21%) in 2022, reflecting an increase of 27.7%, higher than the growth seen in 2022, which amounted to 13.6%.

However, the use of Automatic Teller Machines (ATMs) grew by 11% in 2023. This trend is associated with transactions, having amounted to KZ 10,171,169 million in 2023, compared to KZ 8,501,284 million in 2022, representing a percentage increase of 20%.