Homogeneous and heterogeneous chemical reactions in partially ionized magneto-nano-liquid are investigated theoretically using finite element method (FEM). The effects of ions and electrons collisions on the transport of heat and mass are analyzed for both the cases of heterogeneous and homogeneous chemical reactions. The simultaneous effects of dispersion of nanosized particles in partially ionized nano-liquid in the presence of magnetic field are also investigated. Through numerical experiments, it is noted that the temperature of partially ionized nano-liquid increases when electrons collision rate and ion collisions are increased. The transport rate of reacting species decreases when heterogeneous and homogeneous chemical reactions strengths are increased. It is also observed that the effect of electron collisions on the flow in y-direction is the same to that of ion collisions on the flow in y-direction. Homogeneous and heterogeneous chemical reactions have similar effects on concentration of chemically reacting species in qualitative sense. However, in quantitative sense, homogeneous chemical reaction has more significant effect on the concentration reacting species as compared to heterogeneous chemical reaction.