For a 20-person cooperative selling groundnuts to two aggregators and paying out to member farmers weekly, transaction cost is the difference between profit and loss. We benchmarked three rails over 90 days: PayChangu (card + wallet aggregator), Airtel Money, and TNM Mpamba.
**PayChangu** was cheapest for card-to-wallet inbound (1.8%) and offered the cleanest API, but its bulk-payout feature required a separate agreement.
**Airtel Money** had the fastest cash-out at agent points in the Central Region but charged 2.5% on bulk disbursements above MWK 500,000.
**TNM Mpamba** was strongest in the North and had the most reliable USSD experience on 2G handsets — critical for the 40% of members without smartphones.
Our recommendation: run inbound on PayChangu, payouts on whichever operator dominates your farmers’ handsets. Detailed spreadsheet linked in **Resources**.