State of the Industry Report on Mobile Financial Services
Our fifth State of the Industry Report on Mobile Money highlights the remarkable success of this exciting and dynamic industry. Mobile money has achieved more to extend the reach of financial services in the last decade than traditional “bricks and mortar” banking has achieved in the last century.
Mobile money is reaching more than 411 million people globally. Moreover, it is available in 85% of countries where the vast majority of the population lacks access to a formal financial institution. This is an extraordinary achievement, demonstrating the power of mobile, underpinned by the critical role mobile network operators have played in building this industry.
This report is based on data collected through the annual Global Adoption Survey. In 2015, 107 mobile financial services providers participated in this survey, in addition to 17 mobile credit and savings providers and 48 mobile insurance providers.