Driving a price revolution: Mobile money in international remittances
In just a few years, mobile money has emerged from a purely domestic service to enabling transfers between more than 20 countries globally. The GSMA commissioned an independent data collection exercise to assess the impact of mobile money on reducing the cost of remittances. The results show that mobile money is driving a price revolution in international remittances. It is doing this by increasing competition, leveraging existing networks and infrastructure, and capturing smaller remittance values than traditional players. These lower prices are, in turn, contributing directly to efforts to achieve UN Sustainable Development Goal 10.