This chapter explores service innovation within fintech across Africa, focusing on mobile payments (m-payments). It examines the complex interactions between technology and service, highlighting the unique challenges and opportunities of m-payment transactions compared to traditional banking. The chapter discusses the importance of strategic collaborations and partnerships in fostering innovation, emphasizing how these alliances can enhance competitive advantage. It also addresses the multifaceted nature of innovation, considering various classifications and theoretical frameworks, such as institutional theory, resource-based, and knowledge-based views. Despite the potential of fintech to lower costs and improve accessibility, the chapter identifies ongoing challenges, including cultural dynamics and market complexity that hinder broader engagement. By examining historical innovations and providing a detailed analysis of service innovation models, this chapter aims to offer a comprehensive understanding of how fintech is transforming financial services in Africa.