In 2018, there were more than 866 million registered mobile money accounts in 90 countries, according to the GSMA, indicating that the industry is on its way to celebrating the one billionth registered mobile money account.
The number of accounts recorded at the end of 2018 represented a 20 per cent increase from 2017, according to the GSMA’s eighth annual State of the Industry Report on Mobile Money.
The annual report puts the mobile money landscape into current perspective, shedding more light on the impact that greater financial inclusion has on lives, economies and innovation, especially in emerging markets.
“Our research shows that for the world’s most vulnerable, the benefits of mobile money are real and wide-ranging. Throughout 2018, the GSMA has continued to support operators in reaching customers that have traditionally been underserved by the financial system,” said Mats Granryd, director general, GSMA.
“The mobile money industry is fast-evolving against a backdrop of increasing internet access and smartphone adoption, and now more than ever, mobile’s unparalleled global scale provides a tremendous opportunity to reach the 1.7 billion people who remain financially excluded.”
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