Mobile Money Industry Processed US$2 Billion in Transactions Per Day in 2019
London: The GSMA today unveiled the annual State of the Industry Report on Mobile Money', offering a view of the mobile money landscape and highlighting the impact that greater financial inclusion has on lives, economies and innovation, especially in emerging markets. This year's report looks at what one billion registered accounts means for the mobile money industry, mobile money users and the future of the mobile money ecosystem. It provides a comprehensive picture of adoption and usage around the globe.
Significantly, the report highlights that 2019 marked a major milestone for the mobile money industry, with over one billion registered accounts and close to two billion dollars in daily transactions. For the first time, digital transactions represented the majority, 57 per cent, of mobile money interactions. The industry is witnessing increasing user trust and relevance. With 290 live services in 95 countries and 372 million active accounts, mobile money is entering the mainstream and becoming the path to financial inclusion in most low-income countries. For consumers, this marks a shift away from cash towards digital payments - for school fees, e-commerce, international remittances, savings, credit, pay-as-you-go utilities and more.
Increased mobile connectivity and innovative services such as mobile money are building stronger and more inclusive communities, said John Giusti, Chief Regulatory Officer, GSMA. Surpassing one billion mobile money accounts represents a major milestone for an industry that did not exist just over a decade ago. The reach of mobile money agents is now 20 times that of bricks-and-mortar banks. Almost 1.7 billion people remain financially excluded, but the collective strength of the industry holds the potential to ensure that everyone can be part of the new digital economy.
Biggest Trends in 2019:
A growing number of providers are becoming commercially sustainable;
Direct revenue from mobile money is supporting investment in innovative products and services, network expansion, and healthy and sustainable agent commissions;
The industry continues to invest in distribution networks, with the number of agent outlets almost tripling over the past five years, and the reach of a mobile money agent is now seven times that of ATMs and 20 times that of bank branches;
The digitisation of payments has reached new heights with digital transactions representing the majority of mobile money flows (57 per cent) for the first time in 2019 (historically, majority of transactions were cash-in and cash-out); and
More value is circulating in the mobile money system than exiting - another industry first.
The report explores the empowerment that comes with owning a mobile money account, for example, more women are using financial services, low-income households are accessing essential utility services, and smallholder farmers are getting paid more quickly and conveniently. Meanwhile, millions of migrants and their families are experiencing the life-changing benefits of faster, safer and cheaper international remittances, and humanitarian cash assistance is being delivered more thoughtfully to those in crises.
Giusti added, Regulation that enables low-cost services for the financially excluded has been crucial to the success of mobile money, and there is a clear correlation between an enabling regulatory environment and a high mobile money adoption rate. However, certain policy decisions, such as sector-specific taxation and data localisation requirements, are putting pressure on the industry and create a real risk of long-term negative impacts on financial inclusion gains, access to innovative services, and delivery of the SDGs. We are moving in the right direction, and with the right tools, we are a step closer to achieving an inclusive digital future for all.
The 2019 State of the Industry Report on Mobile Money can be see here: www.gsma.com/sotir. Further information on the GSMA's Mobile Money programme, is available at www.gsma.com/mobilemoney.
-ENDS-
Note to editors:
The State of the Industry Report on Mobile Money draws on the results of the annual GSMA Global Adoption Survey of Mobile Financial Services and data from the GSMA Mobile Money Deployment Tracker. It provides insights on mobile money performance from the GSMA's engagement with the industry.
About the GSMA
The GSMA represents the interests of mobile operators worldwide, uniting more than 750 operators and nearly 400 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces the industry-leading MWC events held annually in Barcelona, Los Angeles and Shanghai, as well as the Mobile 360 Series of regional conferences.
For more information, please visit the GSMA corporate website at www.gsma.com. Follow the GSMA on Twitter: @GSMA.
Media Contacts:
GSMA Press Office
pressoffice@gsma.com
Like what you read? Share.
Most recent headlines
18/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
18/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
18/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
18/12/2025
Long-term agreement includes the SES SCORE platform and hybrid distribution worldwide to deliver more than 5,000 hours of golf tournaments annually featuring th...
18/12/2025
At 7.45pm on 1st January 1926, the precursor to RT , then 2RN, delivered the fledgling new Irish state's first public radio transmission. From those first c...
18/12/2025
Step out of the vault and into the future of gaming with Fallout: New Vegas streaming on GeForce NOW, just in time to celebrate the newest season of the hit Ama...
18/12/2025
December 18 2025, 05:30 (PST) The Movie Experience SLO Becomes First U.S. Exhib...
17/12/2025
Investigative journalists across the Western Balkans and T rkiye continue to con...
17/12/2025
Sports Broadcasting Hall of Fame Inducts 10 Industry Icons During Unforgettable ...
17/12/2025
ESPN to Debut MNF Playbook with Next Gen Stats, a New AI-Driven NFL Data-AltCastThe series, powered by Adrenaline TruPlay AI, launches Dec. 22 and runs through ...
17/12/2025
Inaugural Optum Golf Channel Games Debut Under the Lights' in Primetime on ...
17/12/2025
The right playlist is essential on New Year's Eve, building the energy as you get ready and keeping it high as you count down to midnight. This year, Spotif...
17/12/2025
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
17/12/2025
Audiences Watched Over 103 Billion Minutes of TV on Thanksgiving Day
NFL Games ...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
17/12/2025
KPop Demon Hunters Stars Visit Berklee for Weeklong Celebration Andrew Choi and EJAE, who voiced the film's main characters and contributed to its soundtr...
17/12/2025
December 17 2025, 17:00 (PST) Dolby and LG Unveil a New Era of Home Audio With ...
17/12/2025
Wednesday 17 December 2025
Heated Rivalry will be coming to Sky and streaming service NOW on 10 JanuaryTurn on cookies to view this content. Go to Privacy opti...
17/12/2025
Back to All News
Inside The Unseen World Of Indian Customs: Netflix Reveals The...
17/12/2025
Back to All News
Netflix announces PAPARAZZI KING: the docu series coming to Ne...
17/12/2025
Back to All News
Netflix Unveils First Look at Jo Nesbo's Detective Hole Pr...
17/12/2025
Back to All News
Netflix Welcomes Warner Bros. Discovery Board Recommendation
Business
17 December 2025
Global
Link copied to clipboard
After Careful Revi...
17/12/2025
RT has announced that Kathy Fox has been appointed Commissioning Editor with re...
17/12/2025
The Hao AI Lab research team at the University of California San Diego - at the forefront of pioneering AI model innovation - recently received an NVIDIA DGX B...
17/12/2025
Editor's note: This post is part of Into the Omniverse, a series focused on ...
17/12/2025
With the new season of Dancing with the Stars shimmering in the not-too-distant future this New Year, the celebrity and dancer pairings of the twelve couples ha...
16/12/2025
Hawkins has landed on Spotify, just in time for Stranger Things Season 5, Volume...
16/12/2025
Wherever you are, your favorite music and audio content should go seamlessly with you. That's why Spotify has partnered with NAVER Corp, Korea's leading...
16/12/2025
2025 Wrapped arrived bigger and bolder than ever. This year's experience is designed to be ultra personal and shareable, with new features like Wrapped Part...
16/12/2025
Three 12-kilowatt Advanced Electric Propulsion System thrusters, supplied by L3Harris Technologies, form the core of Gateway's propulsion system. Pictured i...
16/12/2025
The challenge facing America's defense industrial base is not just about speed - its about rebuilding the foundation that makes speed possible. Our nations ...
16/12/2025
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
16/12/2025
SEVILLE, Spain Canal Sur, the public broadcasting service for Andalusia, Spain, has completed a total technology refresh based on Pebble's resilient, softwa...
16/12/2025
NEW YORK Teleprompting hardware provider Telescript International has acquired all software code and intellectual property previously owned by Telescript West. ...
16/12/2025
As cable operators face increased competition from 5G fixed wireless access providers, a new report from Ookla Research finds that T-Mobile is the FWA speed lea...
16/12/2025
Apple has announced a major upgrade to the Apple TV app for device owners outside the Apple ecosystem with news that the Apple TV app for Android now supports G...
16/12/2025
Space42 grows Direct-to-Device partner ecosystem through a Memorandum of Underst...
16/12/2025
16 Dec 2025
VEON Announces Release Date for Full Year and Fourth Quarter 2025 R...
16/12/2025
16 Dec 2025
VEON's Kyivstar Invests in Renewable Energy in Ukraine with Acq...
Mobile Money Industry Processed US$2 Billion in Transactions Per Day in 2019
