Mobile money is changing the world. The latest GSMA research, GSMA: The 2018 State of the Industry Report on Mobile Money, shows that in 2017 the industry processed transactions worth US$1 billion dollars a day, generating direct revenues of over US$2.4 billion. Today, there are more than 690 million registered accounts in 90 countries. Mobile money has evolved into the leading payment platform for the digital economy in many emerging markets. In Asia, mobile money allows hundreds of millions of people to store, send and receive money digitally, providing a vital gateway to financial inclusion.
In fact, South Asia is at the forefront of the explosive global growth in mobile money. In 2017, the number of mobile money customers grew by 47% to reach almost 235 million, making South Asia the fastest-growing region globally. This is the first time industry growth was not led by Sub-Saharan Africa. South Asia now represents 34% of the world’s registered accounts, up from just 5.6% five years previously.