April 8, 2024, London: Mobile money reached two significant milestones in 2024, exceeding two billion registered accounts and more than half a billion active monthly users worldwide. The industry took 18 years to reach one billion registered accounts and 250 million active users of 2001, but doubled its size in the next five years. This is according to the 'Industry State Report on mobile money 2025' prepared by the GSMA Mobile Money program that works to advance in the mobile money ecosystem for communities around the world that lack access to more traditional banking services.
His latest report considers that transactions volumes and mobile money accounts experienced a solid two -digit growth in 2024. Approximately 108 billion transactions, for a total of more than $ 1.68 billion, were processed through mobile money accounts in 2024.
Vivek Badrinath, General Director of GSMA Comments: “Mobile money has become a powerful promoter of financial inclusion and economic growth. Its continuous success depends on regulatory support environments that promote innovation, accessibility and help to unlock the total socio -economic potential. To ensure that mobile money is accessible, affordable and safe, is vital for governments and regulators to work with financial service providers Financial literacy with financial literacy programs, empowering peoples and opening new opportunities so that new financial decisions opportunities are the new opportunities for new financial decisions to be the new opportunities for new financial decisions to be the new opportunities for new financial decisions to be Governments “.
The impact of mobile money on global GDP
Mobile money continues to play a key role in economic development. At the end of 2023, total GDPs with mobile money services were more than $ 720 billion higher than it would have been without them, reflecting an increase of 1.7% in GDP driven by mobile money. Only in sub -Saharan Africa, the year -on -year mobile money added around $ 190 billion to GDP in 2023, demonstrating its sustained economic influence.
Sub -Saharan Africa leads while the Eastern Eastern Pacific wins impulse
Sub -Saharan Africa remains the most active mobile money region in the world, driven by new registered accounts and the growing monthly activity in Eastern and Western Africa. Oriental Africa was the main driver of the monthly growth of the active account in 2024, followed by Southeast Asia and Western Africa.
The East Asia-Pacific has also made notable advances, registering the second fastest growth rate for active monthly accounts, only behind the Middle East and North Africa. In particular, the region saw that 30 -day active accounts grew faster than registered accounts, backed by enabling regulatory environments in markets, including Cambodia, Fiji, Philippines and Vietnam.
The GSMA finds that in East Asia and the Pacific many mobile money suppliers have become full -service financial platforms, offering a wide range of products to match the needs of users; In fact, the most successful suppliers are often those who actively innovate the amplitude of their offers.
Use cases continue to mature
Mobile money suppliers offer more and more adjacent financial services such as credit, savings and insurance. As of June 2024, 44% of suppliers offered credit services, which makes it the most used adjacent financial product. Savings services were offered by around a third of suppliers, while insurance remains the least common with about 28% of suppliers that offer it.
Despite growth, barriers are still persistent
Despite progress, several barriers to adoption remain, especially among women. Among the 12 countries surveyed, eight continue to exhibit a gender gap in the property of mobile money, with little improvement since 2023. Limited consciousness and low digital financial education are significant barriers, particularly for women.
However, women who have mobile money accounts are almost as probable as men of having used them in the last 30 days. The GSMA explains that to address these challenges, almost 60% of mobile money suppliers have launched digital financial education initiatives to improve financial skills and boost adoption over time.
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About GSMA
GSMA is a global organization that unifies the mobile ecosystem to discover, develop and offer fundamental innovation to positive business environments and social change. Our vision is to unlock all the power of connectivity so that people, industry and society prosper. Representing mobile operators and organizations throughout the mobile ecosystem and adjacent industries, the GSMA offers its members in three broad pillars: connectivity for good, services and solutions of the industry, and scope. This activity includes the progress policy, addressing today's greatest social challenges, underpinning technology and interoperability that make mobile work and providing the world's largest platform to convene the mobile ecosystem in the MWC and M360 events series.
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The report is financed by the Gates Foundation.
Notes for editors: What is mobile money?
According to the IMF financial access survey, Mobile Money is a digital payment of payment and a payment value warehouse with mobile phones, facilitated by a network of mobile money agents. It is a financial service mainly offered to its customers by a mobile network operator or another entity that is associated with mobile network operators, regardless of the traditional bank network. A bank account is not required to use mobile money services: the only prerequisite 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 verification deposits, balance consultation, and payment transfers.
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