Proof Point
GSMA data showed registered mobile money accounts globally grew 45% annually, from 86.8 million in 2011 to 555.6 million in 2016
Registered Mobile Money Accounts by Geographic Region
2011 – 2016 (millions)
| Note: | North America not shown since mobile money accounts are not used in region |
Proof Point Findings
- Mobile Money Accounts – Accounts registered for mobile money services, enabling transfer and receipt of money, as well as payments via mobile device
- Overall Growth – Registered mobile money accounts worldwide grew 45% annually, from 86.8 million in 2011 to 555.6 million in 2016
- Majority Sub-Saharan Africa – Sub-Saharan Africa which made up half of registered mobile money accounts in 2016, rose by 39.3% per year, from 52.9 million accounts in 2011 to 277.4 million in 2016
- Fastest Growing Regions – Adoption growth fastest in emerging markets, including South Asia (90.8%), Middle East and North Africa (74.8%), and Latin America and Carribean (64.7%)
- Key Growth Drivers – Include continuous innovation in peer-to-peer payment technologies, proliferation of alternative banking solutions, increasing preference for cashless transactions, and heightening reliance on smartphones and mobile applications to complete tasks
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Market Disruption |
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Sector |
Financial Services
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Source |
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Date Last Updated |
August 28, 2018
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