Mobile money platforms processed 108 billion transactions valued at $1.68 trillion in 2024, according to the latest "State of the Industry Report on Mobile Money 2025" released by the Global System for Mobile Communications Association (GSMA) on Tuesday.
The GSMA, which represents telecom operators globally, reported that mobile money transaction volumes rose by 20% year-on-year, while transaction values increased by 16% — up from a 13% rise recorded in 2023.
"This reflects robust double-digit growth in mobile money usage globally," the report noted. "Approximately 108 billion transactions totalling over $1.68 trillion were processed through mobile money accounts in 2024."
GSMA Director General, Vivek Badrinath, said mobile money continues to drive financial inclusion and economic growth across underserved regions.
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"Its continued success depends on supportive regulatory environments that foster innovation and accessibility," Badrinath said. "Governments must collaborate with financial service providers to ensure mobile money remains safe, affordable, and inclusive, especially through financial literacy initiatives."
According to the report, countries offering mobile money services saw their GDP increase by about $720 billion in 2023 — a 1.7% boost. Sub-Saharan Africa alone accounted for roughly $190 billion of that figure.
East and West Africa led global growth in active mobile money accounts in 2024, followed closely by Southeast Asia. East Asia-Pacific countries such as Cambodia, Fiji, the Philippines, and Vietnam also posted gains, buoyed by favorable regulatory frameworks.
GSMA highlighted a significant shift in service offerings: as of June 2024, 44% of mobile money providers in East Asia-Pacific now offer credit services. However, challenges persist, particularly gender-based disparities in mobile money ownership across eight of the 12 countries surveyed.
"Nearly 60% of mobile money providers are now rolling out digital literacy initiatives to close gender and access gaps," the report stated.
The industry reached two major milestones in 2024: surpassing two billion registered accounts and over 500 million active monthly users. For context, it took 18 years — from 2001 — to reach the first one billion registered users and 250 million active users, a figure that has doubled in just five years.
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