The State of the Industry Report on Mobile Money 2024

This report describes the state of the mobile money industry worldwide at the end of 2023, covering important developments and trends in the sector, with a focus on financial inclusion and the opportunities created for small enterprises. Some of the trends covered in the report include:

• Today, 1.75 billion registered accounts are processing $1.4 trillion a year, or about $2.7 million a minute.
• In the 10 years to 2022, mobile money contributed $600 billion to the GDP of countries with a mobile money service.
• Use cases are evolving as mobile money users shift away from basic transactions to more varied services. International remittances are now one of the fastest growing use cases of mobile money, while merchant payments expanded by 14% to almost $74 billion in 2023.
• Average revenue per user increased by 40% between September 2022 and June 2023, despite slowing account and transaction growth rates. This clearly demonstrates the commercial potential of mobile financial services.