{"id":23522,"date":"2025-04-08T09:00:23","date_gmt":"2025-04-08T08:00:23","guid":{"rendered":"https:\/\/www.gsma.com\/newsroom\/?p=23522"},"modified":"2025-04-08T09:15:22","modified_gmt":"2025-04-08T08:15:22","slug":"mobile-money-surpasses-two-billion-registered-accounts-and-over-half-a-billion-monthly-active-users-globally","status":"publish","type":"post","link":"https:\/\/www.gsma.com\/newsroom\/press-release\/mobile-money-surpasses-two-billion-registered-accounts-and-over-half-a-billion-monthly-active-users-globally\/","title":{"rendered":"Mobile Money Surpasses Two Billion Registered Accounts and Over Half a Billion Monthly Active Users Globally\u00a0"},"content":{"rendered":"\n<p><strong>8 April 2024, London<\/strong>: Mobile money reached two significant milestones in 2024, surpassing two billion registered accounts and over half a billion active monthly users across the globe. The industry took 18 years to achieve one billion registered accounts and 250 million active users from 2001, but doubled in size in the following five years. This is according to the <a href=\"https:\/\/www.gsma.com\/sotir\" target=\"_blank\" rel=\"noreferrer noopener\">\u2018State of the Industry Report on Mobile Money 2025\u2019<\/a> prepared by the GSMA Mobile Money programme which works to advance the mobile money ecosystem for communities worldwide that lack access to more traditional banking services.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Its latest report finds that transaction volumes and values for mobile money accounts experienced robust double-digit growth in 2024. Approximately 108 billion transactions, totalling over $1.68 trillion, were processed through mobile money accounts in 2024. Year-on-year, transaction volumes increased by 20%, while transaction values grew by 16%, up from a 13% increase in 2023.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Vivek\u202fBadrinath, GSMA Director General comments: <em>\u201cMobile money has emerged as a powerful driver of financial inclusion and economic growth. Its continued success depends on supportive regulatory environments that promote innovation, accessibility and help unlock the full socio-economic potential. To ensure mobile money remains accessible, affordable, and safe, it is vital for governments and regulators to work with financial service providers to support financial literacy programs, empowering underserved populations and opening new opportunities for financial decision-making.\u201d<\/em>&nbsp;<\/p>\n\n\n\n<p><strong>Mobile money\u2019s impact on global GDP<\/strong>&nbsp;<\/p>\n\n\n\n<p>Mobile money continues to play a key role in economic development. By the end of 2023, the total GDP of countries with mobile money services was over $720 billion higher than it would have been without them, reflecting a 1.7% increase in GDP driven by mobile money. In Sub-Saharan Africa alone, year-on-year, mobile money added around $190 billion to GDP in 2023, demonstrating its sustained economic influence.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>Sub-Saharan Africa leads while East Asia-Pacific gains momentum&nbsp;<\/strong>&nbsp;<\/p>\n\n\n\n<p>Sub-Saharan Africa remains the world\u2019s most active mobile money region, driven by new registered accounts and rising monthly activity in East and West Africa. East Africa was the leading driver of monthly active account growth in 2024, followed by Southeast Asia and West Africa.&nbsp;&nbsp;<\/p>\n\n\n\n<p>East Asia-Pacific has also made notable strides, recording the second-fastest growth rate for active monthly accounts, only behind the Middle East and North Africa. Notably, the region saw active 30-day accounts grow faster than registered accounts, supported by enabling regulatory environments in markets including Cambodia, Fiji, the Philippines and Vietnam.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The GSMA finds that in East Asia and the Pacific many mobile money providers have evolved into full-service financial platforms, offering a broad range of products to match user needs; indeed, the most successful providers are often those who are actively innovating the breadth of their offerings.&nbsp;<\/p>\n\n\n\n<p><strong>Use cases continue to mature&nbsp;<\/strong>&nbsp;<\/p>\n\n\n\n<p>Mobile money providers are increasingly offering adjacent financial services like credit, savings and insurance. As of June 2024, 44% of providers offered credit services, making it the most used adjacent financial product. Savings services were offered by around a third of providers, while insurance remains the least common with around 28% of providers offering it.&nbsp;<\/p>\n\n\n\n<p><strong>Despite growth, barriers remain persistent<\/strong>&nbsp;<\/p>\n\n\n\n<p>Despite progress, several barriers to adoption remain, notably among women. Among 12 countries surveyed, eight continue to exhibit a gender gap in mobile money ownership, with little improvement since 2023. Limited awareness and low digital financial literacy are significant barriers, particularly for women. &nbsp;<\/p>\n\n\n\n<p>However, women who hold mobile money accounts are nearly as likely as men to have used them in the past 30 days. The GSMA explains that to address these challenges, nearly 60% of mobile money providers have launched digital financial literacy initiatives to improve financial skills and drive adoption over time.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>-ENDS-<\/strong>&nbsp;<\/p>\n\n\n\n<p><strong>About GSMA<\/strong>&nbsp;<\/p>\n\n\n\n<p>The GSMA is a global organisation unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change. Our vision is to unlock the full power of connectivity so that people, industry, and society thrive. Representing mobile operators and organisations across the mobile ecosystem and adjacent industries, the GSMA delivers for its members across three broad pillars: Connectivity for Good, Industry Services and Solutions, and Outreach. This activity includes advancing policy, tackling today\u2019s biggest societal challenges, underpinning the technology and interoperability that make mobile work, and providing the world\u2019s largest platform to convene the mobile ecosystem at the MWC and M360 series of events.&nbsp;<\/p>\n\n\n\n<p>We invite you to find out more at\u202f<a href=\"https:\/\/www.gsma.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">gsma.com<\/a>&nbsp;&nbsp;<\/p>\n\n\n\n<p>The report is funded by the Gates Foundation.&nbsp;<\/p>\n\n\n\n<p><strong>Notes for editors: <\/strong>What is mobile money?&nbsp;&nbsp;<\/p>\n\n\n\n<p>Per the IMF\u2019s Financial Access Survey, mobile money is a pay-as-you-go digital medium of exchange and store of value using mobile phones, facilitated by a network of mobile money agents. It is a financial service primarily offered to its clients by a mobile network operator or another entity that partners with mobile network operators, independent of the traditional banking network. A bank account is not required to use mobile money services\u2014the only pre-requisite is a basic mobile phone. On the other hand, mobile banking is the use of an application on a mobile device to access and execute traditional banking services, such as check deposits, balance inquiry<s>,<\/s> and payment transfers.&nbsp;<\/p>\n\n\n\n<p><strong>Media Contacts<\/strong>&nbsp;<\/p>\n\n\n\n<p>GSMA Press Office &nbsp;<br \/><a href=\"mailto:pressoffice@gsma.com\" target=\"_blank\" rel=\"noreferrer noopener\">pressoffice@gsma.com<\/a>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>8 April 2024, London: Mobile money reached two significant milestones in 2024, surpassing two billion registered accounts and over half a billion active monthly users across the globe. The industry took 18 years to achieve one billion registered accounts and 250 million active users from 2001, but doubled in size in the following five years. [&hellip;]<\/p>\n","protected":false},"author":101,"featured_media":23527,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[3],"tags":[],"algolia_discover_type":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mobile Money Surpasses Two Billion Registered Accounts and Over Half a Billion Monthly Active Users Globally\u00a0 - Newsroom<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gsma.com\/newsroom\/press-release\/mobile-money-surpasses-two-billion-registered-accounts-and-over-half-a-billion-monthly-active-users-globally\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mobile Money Surpasses Two Billion Registered Accounts and Over Half a Billion Monthly Active Users Globally\u00a0\" \/>\n<meta property=\"og:description\" content=\"8 April 2024, London: Mobile money reached two significant milestones in 2024, surpassing two billion registered accounts and over half a billion active monthly users across the globe. The industry took 18 years to achieve one billion registered accounts and 250 million active users from 2001, but doubled in size in the following five years. 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The industry took 18 years to achieve one billion registered accounts and 250 million active users from 2001, but doubled in size in the following five years. 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