Memo Bank vs Wave Mobile Money
Updated June 2026 · A structured head-to-head comparison.
Low-cost mobile money for West Africa.
The verdict
Both Memo Bank and Wave Mobile Money are credible business banking tools, and the right pick comes down to your priorities.
Memo Bank — Licensed bank for European SMEs.
Wave Mobile Money — Low-cost mobile money for West Africa.
Memo Bank vs Wave Mobile Money: side by side
| Dimension | Memo Bank | Wave Mobile Money |
|---|---|---|
| Starting price | Custom | Custom |
| Free plan | No | No |
| Pricing model | Subscription | Usage-based |
| Best for | Eu Smb, Scale Ups | West Africa Smb, Merchants |
| Platforms | Web, Ios, Android | Ios, Android |
| Rating | 4.4/5 | 4.5/5 |
Memo Bank key facts
- Vendor
- Memo Bank
- Pricing
- Subscription — Custom
- Free tier
- No
- Platforms
- Web, Ios, Android
- Best for
- Eu Smb, Scale Ups
- Editor rating
- 4.4 / 5
- Founded
- 2017
- Headquarters
- Paris, France
Wave Mobile Money key facts
- Vendor
- Wave
- Pricing
- Usage-based — Custom
- Free tier
- No
- Platforms
- Ios, Android
- Best for
- West Africa Smb, Merchants
- Editor rating
- 4.5 / 5
- Founded
- 2018
- Headquarters
- Dakar, Senegal
Frequently asked questions
Is Memo Bank better than Wave Mobile Money?
Neither is universally better — Wave Mobile Money edges ahead on overall rating, but the best choice depends on price, platforms, and your use case. See the side-by-side table above.
Is Memo Bank or Wave Mobile Money cheaper?
Memo Bank is the more affordable of the two to get started, at custom. Memo Bank starts at custom; Wave Mobile Money starts at custom.
Can Memo Bank replace Wave Mobile Money?
Yes for most teams — both are business banking tools with heavily overlapping features. The main trade-offs are pricing and platform support, covered in the comparison above.