The number of mobile money accounts registered globally has reached 2.3 billion, according to the latest State of the Industry Report on Mobile Money 2026 released by GSMA.
This reflects the growing role of digital finance in facilitating financial inclusion and economic activity across the world.
A mobile money account is a secure electronic wallet linked to a phone number that enables users to store funds, make payments, and send or receive money, without requiring a traditional bank account.
What the report is saying
While mobile money adoption continues to soar globally, the report indicates that there are still significant challenges to be addressed.
Despite record transaction values, mobile money growth has been hindered by rising inactivity and persistent gender gaps.
The report highlights that although the number of registered accounts surged, user engagement remains inconsistent.
- “Adoption and regular use are surging. In 2025, the industry recorded 2.3 billion registered accounts and 593 million active 30‑day accounts, lifting the global monthly activity rate to 25.7%,” the report says.
- “Value is scaling faster than volume as use deepens. More than $2.1 trillion flowed through mobile money in 2025 – doubling from the first trillion in just four years, with average transaction values rising as value growth outpaced volume growth.”
This shows that transaction values are scaling faster than volume, with average transaction amounts increasing as the value growth outpaces volume.
Get up to speed
The growth of mobile money services has been significant, as demonstrated in the 2024 report, which showed that over $1.68 trillion flowed through mobile money accounts globally.
- This surge demonstrates the increasing role of digital finance in financial inclusion and economic activity.
- The 2024 State of the Industry Report also highlighted the continued rise in transaction volumes, with 108 billion transactions processed globally in 2024, marking a 20% increase compared to the previous year.
- This reflects the sustained double-digit growth in the mobile money sector, with a 15% rise in transaction values, reaching $227 billion.
Interoperable transactions, which allow users to transfer funds across different mobile platforms, accounted for 23% of the increase, showcasing the growing interconnectedness of mobile money services.
More insights
The latest 2025 report indicates an increasing diversity in use cases for mobile money services, particularly in merchant payments and interoperability.
- Merchant payments grew by 42% to $155 billion, surpassing bulk disbursements as the highest-value transaction in the ecosystem. Interoperable flows expanded as well, with bank-to-mobile transfers totaling $167 billion and mobile-to-bank transfers reaching $163 billion.
- These developments are reducing the reliance on cash and enhancing the convenience and accessibility of financial services. Agents, who continue to be pivotal in cashing out funds, processed a total of $430 billion in transactions.
The report also notes that mobile money providers are shifting focus from access to financial health. Credit services, including affordable nano-loans, and savings and insurance products have expanded rapidly in 2025.
Nearly 80% of surveyed providers reported being profitable, with a 15% increase in ARPU (average revenue per user) to $1.75 as providers diversify their revenue streams.
What you should know
Earlier this month, Nairametrics reported that a coalition of Africa’s leading mobile network operators plans to introduce a $40 smartphone across six African countries, including Nigeria. This move is part of a broader effort to enhance digital access and bring millions of people online, particularly in underserved regions.
The initiative is spearheaded by the GSMA Handset Affordability Coalition and includes major telecom players such as Airtel Africa, MTN Group, Orange, Vodacom, Axian Telecom, and Ethio Telecom.
Collectively, these operators serve around 800 million mobile subscribers across Africa, giving the initiative the potential to significantly boost smartphone adoption on the continent.
