During 2019, mobile money services reached a milestone, surpassing one billion accounts globally.
This is according to GSMA, which unveiled the annual “State of the Industry Report on Mobile Money”, offering a view of the mobile money landscape and highlighting the impact greater financial inclusion has on lives, economies and innovation, especially in emerging markets.
The report highlights that 2019 marked a major milestone for the mobile money industry, with over one billion registered accounts and close to $2 billion in daily transactions.
It 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, it adds, millions of migrants and their families are experiencing the life-changing benefits of faster, safer and cheaper international remittances, and humanitarian…
Source: Guardian Newspaper
