Madagascar’s payment landscape is a mix of traditional and digital methods. Cash still dominates for smaller transactions and in-store purchases. However, debit cards are widely used for both online and in-store transactions. Credit card usage is increasing, and contactless payments are becoming more common. Mobile wallets like eDinar and HCE wallets are gaining traction, especially among younger generations. The shift towards digital payments is driven by a desire for convenience and security, as well as the growing popularity of e-commerce. Madagascar’s payment system is characterized by a significant reliance on cash, especially in rural areas, reflecting underdeveloped banking infrastructure and limited access to formal financial services. Credit and debit card usage is increasing, especially in urban centers, but its adoption remains low compared to cash transactions. Mobile money services are emerging but face significant challenges in expanding their reach.
Estimated Population
28 million
Currency
Malagasy ariary (MGA)
All supported payment methods for Madagascar:
Visa, Mastercard, American Express, JCB, UnionPay International, Discover, Diners Club, Apple Pay, Google Pay, PayPal, MaestroPopular payment methods
Mastercard
Credit/Debit Cards
Unlock a world of payment possibilities with Mastercard, a trusted global leader in secure and convenient transactions
American Express
Credit/Debit Cards
Elevate your business with American Express, a premium payment network that attracts discerning customers and drives higher-value transactions.
JCB
Credit/Debit Cards
JCB is a leading international payment network, offering a unique opportunity for businesses to reach a growing customer base, especially in Asia-Pacific.
UnionPay International
Credit/Debit Cards
UnionPay is the world’s largest payment network, offering businesses the opportunity to tap into the vast Chinese market and beyond.
Discover
Credit/Debit Cards
Discover is a leading payment network that offers a unique combination of security, rewards, and customer service, making it an attractive option for businesses.
Diners Club
Credit/Debit Cards
Diners Club is a global payment network renowned for its premium services and exclusive benefits, offering businesses access to a discerning clientele.
Apple Pay
Wallets
Apple Pay offers businesses a convenient and secure way to accept payments from iPhone, Apple Watch, and Mac users, enhancing the customer experience and boosting sales.
Google Pay
Wallets
Google Pay empowers businesses to offer a fast, secure, and convenient mobile payment experience, attracting a wide range of customers.
