This is the final blog of a five-part “diary series”, which highlights lessons from the GSMA Mobile Money Leadership Group Immersive Learning Trip in the Philippines in June 2025.
Between 23 and 27 June, leaders from Airtel Money, Axian Open Innovation and Fintech, M-Pesa Africa, M-Pesa Ethiopia, MTN MoMo, Orange Money and Vodacom M-Pesa were exposed to the mobile money ecosystem in the Philippines. This included a series of meetings with 917Ventures, the Bangko Sentral ng Pilipinas, CARD Pioneer, GCash, GoTyme, Mastercard, Maya and Uno Bank, as well as experiential bursts with GCash and GoTyme. One week later, we asked some of the leaders for their reflections on what they had seen and learned in the Philippines.
Cedric N’guessan, Executive, Payments and E-commerce – MTN Group Fintech
The birthplace of mobile money has seen its telco-native fintechs evolve remarkably into powerful super-platforms and digital banks, showcasing an incredible journey of financial and digital inclusion.
Elsa Muzzolini, CEO – Safaricom M-Pesa Ethiopia
This visit was a glimpse of where African telco-led mobile money businesses could be in the next 5-10 years. We got a unique opportunity to observe a fully-fledged acquirer play, gamified and UX-optimised savings and lending products, and a digital banking set up. I left the Philippines with new ideas.
Elias Yazbeck, COO – Axian Open Innovation and Fintech
Transforming wallets into digital banks isn’t just about adding features – it’s about building trust. In the Philippines, leading players have turned everyday tools into financial lifelines by making savings, investments and small-and-medium-enterprise (SME) lending accessible and intuitive. It’s a journey I’m deeply passionate about, and one that Axian has been committed to for over a decade.
Mathieu Berthelot, Chief Business Officer – Orange Money
In the Philippines, we found young and talented teams that were dedicated to serving 115 million Filipinos with advanced financial services. Standout products include highly customised savings and loans products: this is what I’ll take home from this intense week!
Erwan Gelebart, CEO – Axian Open Innovation and Fintech
The Philippines is simply an amazing fintech space. What I have seen here validates our key assumptions at Axian: apps [can] change everything, payment acceptance and SMEs are the new frontier, and lending is a new core business across all segments. I leave Manila energised and more convinced than ever that we are doing the right things and that the best is yet to come for Africa.
Reenu Verma, Executive Head of M-Pesa – Vodacom
Several things from the week stood out: the fact that the GCash app can be used abroad at points of sale that accept AliPay+ was impressive. The way savings and lending products were designed and offered to customers helped to validate our strategy on these use cases.
Sumit Prasad, Group Head of Marketing – Airtel Money
The week in the Philippines was deeply insightful. It was fascinating to observe how various companies are overcoming the shared challenge of financial inclusion through distinct and innovative approaches. A key takeaway was the transformative role of a digital-first strategy in driving scale and operational efficiency. I was especially impressed by how some players have crafted seamless customer journeys and built integrated ecosystems – spanning lending, savings, and wealth solutions – that not only deepen user engagement but also foster long-term financial empowerment.
Makan Guissé, Technical & Digital Chief Officer – Orange Money
During the week, I was impressed by the quality of the companies we visited. I was also surprised to see all the resources (technical and organisational) and support that the regulator has deployed to support financial services. Some new ways of doing things that could be adapted to our markets: sound-emitting QR code machines and machines for self-cash-in. The choice of the Philippines was a good one, because it is very similar to our markets.
Ian Ferrao, CEO – Airtel Money
The Philippines’ visit with GSMA was inspiring. GCash showed how deep customer insights, elegant UX, youthful marketing and seamless merchant experiences create impact at scale. With smartphone penetration accelerating, the time to be bold, build ambitiously and forge global synergies is now.
Isaac Kibere, Executive Head of Legal and Regulatory – Safaricom
Spending time with customers showed that the issues they face in Asia are the same as in Africa, with one big difference: mobile platforms in Africa appear more robust than those in Asia. The focus group highlighted GCash’s struggles to maintain stability every week. Platforms in Africa are more resilient as they function on USSD or the SIM Toolkit. Smartphones can offer a richer customer experience, as long as downtime is limited to an absolute minimum.
Muhammad Nana, SVP, Digital Partnerships, Mastercard EEMEA
Attending the GSMA Mobile Money Leadership Group in the Philippines was inspiring. While Africa remains focused on financial inclusion, the Philippines showcased a shift toward financial wellness. At Mastercard, we’re proud to support Africa’s Mobile Money leaders as they drive this transformation forward.