Mobile Money industry processes record $1 trillion in 2021 – GSMA report

 

 

The GSMA has today published its 10th annual ‘State of the Industry Report on Mobile Money’.

 

Merchant payments were instrumental in the growth of the mobile money industry in 2021.

Beyond traditional person-to-person transactions, such as transferring money to family or friends, the industry is now central in helping small businesses operate more efficiently, and serve their customers better” said Max Cuvellier, Head of Mobile for Development, GSMA.

 

Owning a mobile phone is an obvious prerequisite to using mobile money, and women across LMIC’s are 7% less likely than men to own a mobile phone

 

They have set up digital payment programmes in 47 countries,15 of which use mobile money

 

 

Mobile money also helps to enable access to basic utility services and agricultural solutions in LMICs

 

 

To find out more, download the 2022 State of the Industry Report on Mobile Money here: Further information on the GSMA’s Mobile Money programme is available at: www.gsma.com/mobilemoney.

 

 

 

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