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
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
10/06/2026
DAZN-owned digital-media company launches three fan-first series leaning into cr...
10/06/2026
Clear-Com has announced the appointment of Jason Dino as Southwest Regional Sales Manager USA, covering Southern California and the Southwest region. Dino joins...
10/06/2026
An 11% decrease in number of global broadcast deals reflects the organization...
10/06/2026
The Women Without Boundaries Awards recognize women whose work is advancing the future of media, broadcast, AV, workplace technology, digital experience, and re...
10/06/2026
Today is match day minus two for FIFA and HBS. On Thursday, there will be two ma...
10/06/2026
SES is supporting broadcast distribution of the world's biggest football tou...
10/06/2026
NDI has announced that BirdDog has become the first hardware manufacturer to achieve full NDI 6.3 compatibility across its complete lineup of cameras, encoders,...
10/06/2026
Vince Caputo and Scott Carter, winners of the 2026 Sports Emmy for Outstanding Post Produced Audio have been announced as presenters for the 2026 SVG Advanced A...
10/06/2026
FOX One today unveiled a slate of new product features and enhancements designed to elevate the viewing experience for fans on the official streaming platform o...
10/06/2026
Primary production partners Dome Productions and Raycom Sports once again played...
10/06/2026
The Women in Sports Filmmaking Experienceship is an immersive professional devel...
10/06/2026
The league has expanded its HSAN architecture for the NBA Finals to manage more ...
10/06/2026
The inaugural MoonPay X Games League (XGL) Winter Draft will take place Wednesday, September 16, 2026 at Cosm Los Angeles from 7-9 p.m. PT. The event will strea...
10/06/2026
The University of Oklahoma (OU) Athletics Department and Learfield have announce...
10/06/2026
The Video Services Forum (VSF) has released TR-06-4 Part 8, a new specification for RIST Satellite-Hybrid: Out-of-Band Method. The specification creates a mecha...
10/06/2026
Riedel Communications provided the communications infrastructure for the 14th World Live Neurovascular Conference (WLNC) in Lisbon, supporting live medical proc...
10/06/2026
A still from The Doom Generation by Gregg Araki (Courtesy of Sundance Institute)
By Lucy Spicer
Have you checked out our Sundance Film Festival 101 list yet...
10/06/2026
Get Hands-On with Interfaces & Mic Preamp Brands
If youre after a new interface or preamp, then GearExpo UK is the place to be! Well have a whole host of au...
10/06/2026
November 13-14 2026, The Midway, San Francisco
Following their recent rebranding, MONO Music Conference (formerly Music Expo) have officially announced thei...
10/06/2026
Debut instrument free for limited time
deFORM is the debut release from newly founded developer ebbandflow, and it's being offered as a free download fo...
10/06/2026
Alone Australia Season 4: Meet the Cast
10 June, 2026
Media releases
WATCH THE TRAILER
Smash-hit survival series Alone Australia drops its highly anticipa...
10/06/2026
DEADLY THEN, DEADLY NOW, DEADLY ALWAYS: SBS & NITV IGNITE NAIDOC WEEK 2026 WITH ...
10/06/2026
Rohde & Schwarz and TRUMPF advance laser-based drone defense with THORIS LCS Rohde & Schwarz is showcasing THORIS at ILA 2026: A sovereign, end to end counter...
10/06/2026
MAHLE and Rohde & Schwarz develop application for sensor testing of modern drive...
10/06/2026
Production and Development Funding supports the creation of compelling, commercially viable, artistic and culturally relevant South African screen content. Deve...
10/06/2026
Media buyers and sellers can now compare YouTube reach from computer, mobile, an...
10/06/2026
Accedo, Humans not Robots, and the Institution of Engineering and Technology (IET) have announced the launch of Ecoflow X. Formerly an IBC Accelerator project, ...
10/06/2026
Frequency, the engine powering the world's leading streaming television channels, today announced that James Smith has joined the company as General Manager...
10/06/2026
At the 14th World Live Neurovascular Conference (WLNC) in Lisbon, Riedel Communications provided the communications infrastructure for live medical procedures s...
10/06/2026
Globecast, a leading provider of broadcast, media, and entertainment managed services, today announced the launch of its Content Exchange platform powered by Or...
10/06/2026
Klvr will showcase how venues, integrators and production teams are rethinking disposable battery usage at InfoComm 2026 (Las Vegas, June 17-19, booth #N6311). ...
10/06/2026
The Video Services Forum (VSF) has further enhanced the Reliable Internet Streaming Transport (RIST) protocol by incorporating a new feature, RIST Satellite-Hyb...
10/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
10/06/2026
10 Jun 2026
VEON's Banglalink Brings Every World Cup 2026 Match to Football...
10/06/2026
Wednesday 10 June 2026
How to watch every ICC Women's T20 World Cup 2026 match live on Sky Sports
Where is the ICC Women's T20 World Cup 2026 availabl...
10/06/2026
Wednesday 10 June 2026
P RLA brings first-ever Beautifully Clean Oral Care'...
10/06/2026
Wednesday 10 June 2026
Sky reveals pulse-pounding first teaser trailer for upco...
10/06/2026
Wuppertal June 10, 2026
Riedel Artist at the Heart of the 14th World Live Neurovascular ConferenceAt the 14th World Live Neurovascular Conference (WLNC) in Li...
10/06/2026
Back to All News
Netflix Showcases New Mobile Experience, Collections and Games Vision in APAC
Product
10 June 2026
GlobalSouth KoreaJapan
Link copied to c...
10/06/2026
Back to All News
Ready to Join? The Netflix Fan Club Arrives at Cannes Lions
Business
10 June 2026
Global
Link copied to clipboard
Download all assets
N...
10/06/2026
Chemists snap together complex 3D molecules from highly reactive radicals-without losing their shape Scripps Research team develops stereoretentive radical-radi...
09/06/2026
Kiswe announces an expanded long-term partnership with ONE Championship (ONE), t...
09/06/2026
SiriusXM will broadcast FOX Sports' English-language commentary for all 104 FIFA World Cup 2026 matches from June 11 through July 19, available to subscribe...
09/06/2026
EVS has announced it is changing its corporate name from EVS Broadcast Equipment to EVS, reflecting the company's expanded portfolio beyond broadcast equipm...
09/06/2026
Fox Corporation and the NFL have announced a multi-year agreement to bring NFL c...
Mobile Money Industry Processed US$2 Billion in Transactions Per Day in 2019
