Business Wire

Latest GSMA Report Highlights Success of Mobile Money with over Half a Billion Accounts Worldwide


The GSMA today unveiled its sixth ‘State of the Industry Report on Mobile Money’, offering a current snapshot of the mobile money landscape and highlighting the impact of mobile money on lives, economies and innovation over the past 10 years. The report provides the only comprehensive picture of mobile money around the globe. This edition looks back across the decade since the pioneering launch of M-Pesa in Kenya, which first demonstrated the potential of mobile technology to transform access to financial services. Today there are more than half a billion registered mobile money accounts across 92 countries.

“Giving underserved people access to digital payments has expanded financial inclusion to hundreds of millions of people in developing countries and has enabled them to be more secure, more empowered and more active contributors to local communities,” said Mats Granryd, Director General, GSMA. “Mobile operators have been at the centre of this success story. The reach and impact of their services provides a clear example of how important the mobile industry is to ensuring achievement of the 17 Sustainable Development Goals.”

Mobile Money Drives Economic Growth

Mobile money is a key driver of economic growth in emerging markets, particularly through formalising payments, increasing transparency and boosting GDP. Mobile money providers are at the forefront of payment services in many emerging market economies. In December 2016 alone, the industry processed 1.3 billion transactions, averaging around 30,000 transactions a minute.

The research further shows:

  • More than half a billion registered mobile money accounts globally, as of the end of 2016;
  • Nearly 174 million accounts that are active (on a 90 day basis);
  • There are 35 mobile money services with over 1 million active accounts;
  • More than 4.3 million mobile money agent outlets, with 30 countries now having 10 times more active mobile money agents than bank branches; and
  • The average cost of sending international remittances using mobile money is less than half the cost of doing so via a global money transfer operator.

A Decade of Reaching Scale

This edition of the annual report charts the story of mobile money over the last decade, from the emergence of mobile money to the rapid advancement of financial inclusion. It looks at lessons learned in areas such as business models, enabling regulation and interoperability, and assesses the impact of mobile money on people’s lives, as well as the broader economic benefits delivered. The report also looks to the future by examining the emerging trends that promise to take mobile money to new heights in its second decade.

With 277 live services in 92 countries, mobile money is now available in 66 per cent of low- and middle-income markets. A stellar decade of achievements that include:

  • The extension of affordable and commercially sustainable financial services to hundreds of millions of underserved people;
  • The use of mobile money in a growing range of applications, such as school fees, pay-as-you-go solar systems, and international remittances;
  • The positive macro-economic impact of mobile money, such as increased productivity and job creation, as well as greater transparency to reduce leakage; and
  • Beyond its significant contributions to universal financial access goals, including the World Bank’s initiative to enable a billion transaction accounts by 2020, mobile money is a key enabler of broader economic development and empowerment.

Granryd added, “In just ten years, mobile money has made amazing strides. With two billion people still excluded from financial services, mobile money’s potential for the future is greater still. Over the next decade, the industry needs to work together to place the transformational power of mobile money in the hands of those who need it most.”

Launch of Mobile Money Developer Portal

As the industry looks to new growth opportunities, the emergence of harmonised application programme interfaces (APIs) could unlock a wave of innovation and further extend the reach of mobile money services. To this end, the GSMA today launched a developer portal for platform vendors and the technical community, which will help ensure compatibility with GSMA industry-standard Mobile Money APIs.

This approach can ensure interoperability across the ecosystem, seamless deployment and access to the latest standard APIs, through which developers can build mobile money products and services. The developer portal is free and will allow users to access a real, production-ready test environment. The portal offers an open and accessible way to work technically with the APIs and will be supported by the majority of vendors throughout the mobile money industry, with the aim to accelerate further industry growth.

The 2017 State of the Industry Report on Mobile Money, as well as further information on the GSMA’s Mobile Money Programme, is available at:


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, and 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 nearly 800 operators with almost 300 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 industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai, Mobile World Congress Americas and the Mobile 360 Series of conferences.

For more information, please visit the GSMA corporate website at Follow the GSMA on Twitter: @GSMA.

Contact information

For the GSMA
Sophie Waterfield
+44 77 7945 9923
Pau Guerrero
+34 607 348 364
GSMA Press Office

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Summer Business with New Shop Feature and High-Performance Tyre Models16.3.2018 14:11Pressemelding

Each year, summer trade means great challenges for car garages and tyre dealers. As a result and at just the right time,, the online trade customer shop by Europe’s leading online tyre dealer Delticom, is introducing a new feature intended to make the daily work of the shop’s customers easier: An advice mode is available from now on at When changing from the purchasing to the sales view, the individual end customer prices are displayed instead of the actual purchase prices. In order to use this feature, users of simply have to insert their individual markups for the different item groups. From the markup and the purchase price, the online shop automatically calculates the personal end customer price. The usual purchasing view is also still available. This press release features multimedia. View the full release here: An advice mode immediately helps trade customers use the full pot

Available Now: The Smartphone Made for the Way We Communicate Today, the Galaxy S9 and S9+16.3.2018 12:00Pressemelding

Samsung Electronics America, Inc. announced that the new, award-winning Galaxy S9 and Galaxy S9+, which have been recognized by smartphone reviewers worldwide for their best-in-class display, design and camera, are now available for purchase at U.S. wireless network providers and retail stores. The phones come in three colors: Midnight Black, Coral Blue, and the new Lilac Purple. The Galaxy S9 has a suggested retail price of $719.99, while the Galaxy S9+ is available for $839.99. Both unlocked and carrier versions of the Galaxy S9 and Galaxy S9+ are also available for purchase on This press release features multimedia. View the full release here: Designed for the way we communicate today, Samsung's new Galaxy S9 and Galaxy S9+ are available in the U.S. at wireless network providers, retailers and on (Photo: Business Wire) “The Galaxy S9 and S9+ are designed for the visual and social generation—the consum

CONQUEST Group Announced the Expansion of its Asset Management Business with the Appointment of Philippe Taillardat to the Role of Director16.3.2018 09:00Pressemelding

Philippe Taillardat brings to CONQUEST over 25 years of Asset Management and Investment Banking experience, primarily in principal investing, financial advisory, equity and debt financing across global infrastructure and sustainable energy sectors. This press release features multimedia. View the full release here: Philippe Taillardat (Photo: CONQUEST Group) Philippe was most recently Co-Head of Infrastructure Investments Europe at First State Investments, which he helped transform into one of the leading billion+ European infrastructure fund manager in core / core+ strategies. Earlier in his career, Philippe held various senior banker and investment roles at Amundi, Credit Agricole CIB, Credit Suisse, AXA and BNP Paribas. Frédéric Palanque, Managing Director of CONQUEST Group, said, "We are delighted to welcome such a recognized professional. CONQUEST is trusted for providing value-added advice in complex and highly confidential

AccelStor All-Flash Solutions Unlock Data Possibilities for AI and Cloud16.3.2018 09:00Pressemelding

AccelStor, an innovative all-flash array (AFA) provider for the big data era, is excited to announce its participation in the upcoming Cloud Expo Europe, taking place from March 21 to 22 at Booth C1850 in the ExCel London exhibition centre. Besides presenting latest all-flash storage solutions breaking through performance and availability barriers for artificial intelligence (AI), virtualization and private cloud, AccelStor will present a live demonstration of its new generation NeoSapphire high availability models, one of the highlights not to be missed this year. This press release features multimedia. View the full release here: AccelStor's new generation NeoSapphire High Availability all-flash array AccelStor NeoSapphire all-flash arrays are highly integrated with virtualization and private cloud platforms, supporting VMware vSphere and OpenStack Cinder. NeoSapphire’s “high availability” series features symmetric active-activ

Westinghouse Completes First Major Decommissioning Work at a Nordic Commercial Nuclear Reactor16.3.2018 08:45Pressemelding

Westinghouse Electric Company announced today that it has completed a major decommissioning project at the former Barsebäck nuclear power plant in Skåne, Sweden. Barsebäck Unit 2 ceased operation in 2005 and decommissioning work began in August 2016. Westinghouse’s scope of work included the underwater segmentation and packaging of the reactor vessel internals, as well as the upfront engineering studies and equipment manufacturing and qualification. “Westinghouse is proud to deliver this major decommissioning project on time and on budget,” said Yves Brachet, Westinghouse senior vice president, Global Decommissioning, Decontamination, Remediation and Waste Management. “Our global expertise in this area will help our customers in the Nordic region to safely manage a variety of end-of-life opportunities for commercial nuclear power plants.” Leadership at Barsebäck Kraft AB (BKAB) is equally satisfied with this successful initial step of the first dismantling of a commercial nuclear power

Lighting Manufacturer LTS Licht & Leuchten, Part of the Fargerhult Group, to Offer Selected Spot- & Downlights with Seoul Semiconductor’s SunLike Series Natural Spectrum LEDs16.3.2018 08:02Pressemelding

Seoul Semiconductor, a global innovator of LED products and technology, announced that its SunLike Series natural spectrum LEDs, which implement light closest to the spectrum of natural sunlight, has been adopted for selected luminaires of LTS Licht & Leuchten GmbH, a German manufacturer of high-quality luminaires for hospitality, retail, and office applications. This press release features multimedia. View the full release here: LTS Jett 100 spotlights equipped with SunLike LED technology (Photo: Business Wire) LTS has adopted SunLike natural spectrum LEDs for selected products, including the Jett 100 and CSA 60 spotlights. A series of spotlights with a discreet and individual appearance, and clear, straightforward design lines, Jett spotlights harmoniously blend in with any type of retail application. The high color rendering and superior luminous intensity of these spotlights enable lighting designers to achieve accentuated ar