State of the Industry Report on Mobile Money
2023Cutting edge industry insights
Mobile money has experienced staggering growth over the past two decades, cementing itself as a mainstream financial service. Today, it continues the trend by diversifying and branching out into new regions, industries, and services. These innovative mobile money services help millions of people pay their bills, send money abroad, increase their income, manage their savings and access social support.
The GSMA State of the Industry Report on Mobile Money is the industry’s definitive source of data on digital finance. With unparalleled insights from exclusive supply-side data, download it now to learn more.
The estimated additional registered mobile money accounts than forecast in 2019.
Mobile money continues to grow rapidly, bringing a suite of financial products to the fingertips of hundreds of millions of users and disrupting traditional financial services.
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Blogs
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Mobile Money in Sri Lanka: eZ Cash and sticky financial services
Following the launch of The State of the Industry Report on Mobile Money 2023, the GSMA Mobile Money Programme has spoken to senior mobile money executives on their view of the state of the industry. We spoke to Sachini de Silva, Head of Mobile Money at Dialog Axiata Sri Lanka which offers the eZ Cash mobile money service. Sri Lanka has a population of over 20 million among which eZ Cash is providing mobile financial services to almost 2 million people nationwide.Monday 4 September, 2023 -
Mobile money, evolving fintech: In conversation with M-Pesa
Following the launch of the State of the Industry Report on Mobile Money 2023, the GSMA Mobile Money Programme has spoken to senior mobile money executives on their view of the state of the industry. We spoke to Reenu Verma, Executive Head of the M-Pesa mobile money service at Vodacom Group. M-Pesa provides mobile money services to over 51 million customers across seven countries in Africa and, through Vodafone’s Kenyan associate Safaricom, M-Pesa now offers mobile money services in Ethiopia, Africa’s second most populous country.Tuesday 22 August, 2023 -
Mobile money in Tanzania: Unveiling the vision of Tigo Pesa
Following the launch of the State of the Industry Report on Mobile Money 2023, the GSMA Mobile Money Programme has spoken to senior mobile money executives on their view of the state of the industry. We spoke to Angelica Pesha, Chief Officer for Mobile Financial Services at Tigo Tanzania, part of AXIAN Telecom, which offers the Tigo Pesa mobile money service. Tanzania has a very high prevalence of mobile money alongside a robust regulatory environment, enabling Tigo Pesa to provide mobile financial services to tens of millions nationwide.Monday 31 July, 2023 -
Mobile money in Myanmar: Wave Money on financial inclusion
Following the launch of the State of the Industry Report on Mobile Money 2023, the GSMA Mobile Money Programme has spoken to senior mobile money executives on their view of the state of the industry. We spoke to Htin Hlaing, Chief Technology Officer at Wave Money Myanmar. Myanmar has a population of over 50 million and a medium prevalence of mobile money, where Wave Money is a major mobile money provider with a circa 80 per cent mobile financial services market share and offering services to tens of millions nationwide.Tuesday 25 July, 2023 -
Unpacking women’s use of mobile money
With the launch of this year’s SOTIR comes new insights regarding gender and mobile money alongside better understanding on how to reduce the gender gap in women’s usage. However, while there have been substantial gains in mobile-led financial inclusion over the last few years, women are still less likely than men to use mobile money services. This gender gap in mobile money account ownership and usage is a missed opportunity for both women and mobile money providers and must be acted upon.Monday 19 June, 2023 -
The growth of mobile money: Driving financial inclusion for the underserved
What a year this has been for mobile money! In every region where the GSMA tracks mobile money services, we found they are growing faster and reaching more people than ever before. As we launch the State of the Industry Report on Mobile Money 2023, another 184 million people are now mobile money users since the last edition, adding up to 1.6 billion customers worldwide.Tuesday 18 April, 2023
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“It is clear that mobile money is driving financial inclusion around the world. As it continues to grow, it offers an incredible opportunity to reach the 1.4 billion people who still do not have access to financial services.
As we work towards a sustainable and resilient future in which everyone is connected, it is absolutely vital that we also keep working to design safe and secure financial services for all.”
As we work towards a sustainable and resilient future in which everyone is connected, it is absolutely vital that we also keep working to design safe and secure financial services for all.”
Mats Granryd
DIRECTOR GENERAL GSMA
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“Mobile money has experienced tremendous growth over the past two decades, entering new markets, forging new industry partnerships, and offering a range of innovative products and services.
It is helping millions of people pay their bills, send money abroad, manage their savings, and access social support.
Mobile money offers safe, accessible, and affordable services – powering digital finance for all.”
It is helping millions of people pay their bills, send money abroad, manage their savings, and access social support.
Mobile money offers safe, accessible, and affordable services – powering digital finance for all.”
Ashley Olson Onyango
Head of Financial Inclusion and Agritech
The State of Mobile Money: Insights from Industry
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*The State of the Industry Report on Mobile Money 2021 is based on data collected from the Global Adoption Survey 2020. The title of the report has been updated to reflect the launch date.
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Mobile money offers over a billion people access to the formal economy, driving financial inclusion and enabling people to invest in their families and livelihoods. Mobile money plays a central role in the mobile industry’s contribution to many of the UN Sustainable Development Goals.