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Reaching the one billion mark is a tremendous achievement for an industry that is just over a decade old. The mobile money industry of today has a host of seasoned providers with a broad set of operational capabilities, a full suite of products and a global reach.
This year’s State of the Industry Report on Mobile Money examines what one billion registered accounts signify for the mobile money industry, mobile money users and the future of the mobile money ecosystem; moving us a step closer to a digital future for all.
Mobile money accounts
The mobile money industry is now processing almost $2 billion a day.
77 deployments have over a million active accounts (90-day) compared to 27 in 2014.
Mobile money services are available in 96 per cent of countries where less than a third of the population have an account at a formal financial institution.
Per 100,000 adults:
Per 100,000 adults:
Transaction values, USD, December 2019
For the first time, digital transactions represent the majority (57%) of mobile money transaction values. A larger proportion of money is entering and leaving the system in digital form, rather than through a cash conversion. Digital transactions: Digital in, Digital out, and Circulating value.
Another industry first - the total value in circulation (P2P and merchant payments) reached $22 billion in December 2019, more than doubling over the last two years and significantly surpassing the total value of outgoing transactions ($18 billion).
Hear from H.E. Phumzile Mlambo-Ngcuka, Executive Director of UN Women and Mats Granryd, Director General of the GSMA, discussing the importance of mobile money in creating a digital future for everyone and contributing to achieving the Sustainable Development Goals.
The GSMA Mobile Money Programme is supported by: