Friday December 9, 2022

Mobile Money: Cross border remittance costs

Person looking at mobile phone smiling, light is reflecting on face in dark room

Remittances to low- and middle-income countries reached $626 billion in 2022. However, the global average cost of sending $200 remained twice the UN’s SDG 10 C target. In contrast, mobile money remains the least costly instrument (3.73 per cent).

The GSMA commissioned an independent mobile money remittance price survey through DMA Global, in Q3 of 2022 as part of its work on the topic. Key findings are presented here. This is the first time the GSMA has published a detailed dataset from the independent survey.

You can read the methodology here.

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