With 690 million registered accounts worldwide, mobile money has evolved into the leading payment platform for the digital economy in many emerging markets. In our 2017 State of the Industry Report on Mobile Money, we found that mobile money services without enabling regulation have activity rates 30 per cent lower on average than those with an enabling regulatory environment. Non-enabling regulation can stifle investment, limit the rollout of new services, and raise costs for consumers – all of which can negatively affect activity rates.
As governments and regulators take a broader approach to digital financial services, providers and national authorities must continue to work in concert to strike a balance that ensures sustainable and responsible market growth. This seminal edition of the Mobile Money Policy and Regulatory Handbook is part of the GSMA’s efforts to promote such collaboration. The Handbook assembles a range of key considerations for regulators and other stakeholders in the mobile money industry, providing a practical guide to regulatory best practices and industry perspectives. As mobile money continues to bridge the gap in financial inclusion around the world, the need for a sound understanding of policy and regulatory issues and opportunities has never been greater.
In the Handbook, we explore regulatory challenges that have faced industry since its inception, and recommend approaches key stakeholders can take towards creating an enabling environment. The Handbook also accounts for recent regulatory considerations surrounding mobile money taxation and data privacy. The content is based on up-to date statistics and new resources, and will continue to be refined as the industry evolves.