Mobile money reached notable milestones in 2024, exceeding two billion registered accounts and half a billion active monthly users globally. According to the GSMA Mobile Money Programme's 'State of the Industry Report on Mobile Money 2025,' the sector has expanded rapidly, doubling its size in five years.

In 2024, mobile money platforms processed about 108 billion transactions valued at $1.68 trillion. The report highlights a 20% growth in transaction volumes and a 16% increase in transaction values.

Vivek Badrinath, GSMA Director General, stated, “Mobile money has emerged as a powerful driver of financial inclusion and economic growth. Its continued success depends on supportive regulatory environments that promote innovation, accessibility, and help unlock the full socio-economic potential.” He emphasized the need for collaboration between governments, regulators, and financial service providers to enhance access and affordability, particularly through financial literacy programs aimed at underserved populations.

Mobile money has contributed approximately $720 billion to GDP in countries with these services by 2023, reflecting a 1.7% increase. In Sub-Saharan Africa, mobile money added about $190 billion to GDP in the same year.

The region remains the leader in mobile money, with active accounts increasing notably in East and West Africa. East Africa was highlighted for its growth in active accounts in 2024, followed by Southeast Asia and West Africa. Countries in the East Asia-Pacific, including Cambodia, Fiji, the Philippines, and Vietnam, also demonstrated growth, attributed to favorable regulatory conditions.

Providers in East Asia-Pacific have evolved to offer comprehensive financial services, with 44% providing credit services by June 2024. However, challenges persist, particularly for women, as eight of the 12 surveyed countries reported disparities in mobile money ownership based on gender. Nearly 60% of mobile money providers are addressing these gaps by implementing digital literacy initiatives.