Report: State of Mobile 2022 - Payments Cards & Mobile The GSMA (GSM Association) is a global organisation that brings together the mobile ecosystem to discover, to develop and to offer fundamental innovations that promote business conditions and positive societal changes. The State of the Industry Report on Mobile Money draws on the results of the annual GSMA Global Adoption Survey of Mobile Financial Services and data from theGSMA Mobile Money Deployment Tracker. WebAugust 2022 Region: Uganda IMARC Group ID: 5642389 Description Methodology Related Reports The Uganda mobile money market size reached US$ 57.3 Billion in 2021. AppendixCompanies Mentioned, For more information about this report visit https://www.researchandmarkets.com/r/xzfeyi, https://www.researchandmarkets.com/r/xzfeyi, Microsoft to pay $20 million to settle charges it collected children's information, Microsoft to pay $20 mln to settle charges it collected children's information, Exchange operator Cboe gets nod to launch leveraged crypto derivative products, California insurance market rattled by withdrawal of major companies, Apple Headset Looks Sleek in Person But Battery Pack Stands Out. } display: -webkit-box !important; Released on Wednesday, the report shows that 81 per cent of men and 72 per cent of women in India owned a mobile phone as of 2022, translating to a gender gap of 11 per cent. How HubSpot created a "Connect Four" program, When a third of its employees didn't feel connected at work, here's how Hubspot took action, How to close the employee satisfaction gap, according to Hubspot, How HubSpot created intentional connection for its teams. Global mobile money transactions hit $1.26 trillion in 2022 - Quartz Since the covid-19 pandemic, there has been a consistent upward trend in international remittance payments via mobile money. Read the summary and download load the FREE report now. The report also shows that, during 2022, mobile money-enabled international remittances grew by 28% year on year to $22 billion. The report titled State of the Industry on Mobile Money Report 2023 was compiled by GSM Association (GSMA) and supported by the Bill & Belinda Gates Foundation. text-align: center; The 2023 State of the Industry Report on Mobile Money by the GSM Association (GSMA), a non-profit industry organisation, showed that registered mobile money accounts rose by 13 percent to 1.6 billion in 2022 from 1.4 billion in 2021. The results show that people who use mobile money to access credit represent 2 to 36% of respondents according to countries. Executive Summary2. Asia-Pacific Mobile Money Market9. WebThe global mobile money market is expected to grow from USD 1.02 trillion in 2022 to USD 2.48 trillion by 2030, at a CAGR of 13.8% during the forecast period. Download the Book. As we launch the State of the Industry Report on Mobile Money 2023, another 184 million people are now mobile money users since the last edition, adding up to 1.6 billion customers worldwide. bottom: 8px; The number of active agents increased by 25% to 7.2 million in 2022. International remittance payments via mobile money also saw growth according to the report. Mobile money report - MEF MOBILE MONEY EXCEEDS INDUSTRY EXPECTATIONS, It circulates in Nigeria and Ghana, Subsidy: FG gets court order to stop labour unions, Nigeria agrees with OPEC to cut oil production by 2024, Nigerias 2023 budget at risk as OPEC caps oil output. In 2021, the number of registered accounts reached 1.35 billion globally, up 18% since last year and 10 times more than there were in 2012 (134 million). Additional insights from the report are also derived from the annual GSMA Consumer Survey. Research and Markets. This is because of its speed, safety, and cost-effectiveness. Authors of the report highlighted that total transaction value for mobile money grew by 22 percent between 2021 and 2022, from one trillion dollars to around $1.26 trillion and $832 billion of that came from sub-Saharan Africa, with the African growth rate the same as the global average of 22 percent. According to the report, transaction values grew by 22% to $1.26 trillion up from around $ 1 trillion in 2021. Mobile Money Market size was valued at US$ 4.91 Bn. BREAKING: Labour agrees to call of planned strike, Nigerias foreign trade falls to N12 trillion in Q1 2023, Tingo Mobile awarded A1 credit rating from DataPro. Between 2012 and 2021, the number of active agents grew more than 10 times, from 534,000 to 5.6 million, unlocking access to financial services for the most underserved customers. As it continues to grow, it offers an incredible opportunity to reach the 1.4 billion people who still do not have access to financial services, Granryd added. THE GSMA MOBILE MONEY PROGRAMME IS FUNDED BY THE BILL AND MELINDA GATES FOUNDATION, AND IS SUPPORTED BY THE GSMA AND ITS MEMBERS. Russia Mobile Money Market21. The use of loans is generally more important in markets where mobile money is more widespread, particularly in Kenya (36%). As it continues to grow, it offers an incredible opportunity to reach the 1.4 billion people who still do not have access to financial services.. } "However, even with this significant growth, there is still a long way to go to bring those services to over a billion people worldwide who remain unbanked. Nigeria sees a 41% increase in registered agents for mobile money payments. These digital payment methods included mobile POS, online, in-app, and peer-to-peer payments. Mobile Money Global Market Report 2022 - GlobeNewswire Africas most populous nation has five established PSBs such as Hope PSB, 9PSB, MTNs Momo, Airtels SmartCash and Glos Moneymaster which are already operating across the country. Looking forward, the publisher expects the market to reach US$ 361.7 Billion by 2027, exhibiting a CAGR of 35.95% during 2021-2027. China Mobile Money Market10. .single-post-meta, .single-post-meta a { USA Mobile Money Market23. text-transform: none; .action-btns{display: inline-flex;} Authors of the report highlighted that total transaction value for mobile money grew by 22 percent between 2021 and 2022, from one trillion dollars to around $1.26 trillion and $832 billion of that came from sub-Saharan Africa, with the African growth rate the same as the global average of 22 percent. This upward trend continues, with the number of accounts active on a 30-day basis also growing by 13 per cent year-on-year to 401 million in 2022. USA Mobile Money Market23. When typing in this field, a list of search results will appear and be automatically updated as you type. The company revealed several trends on how the world continues to move toward mobile in its State of Mobile 2022 report. var size='300x250', } text-align: left; He recommends that as countries work towards a sustainable and resilient future in which everyone is connected, it is absolutely vital that they also keep working to design safe and secure financial services for all. With 1.4 billion people worldwide remaining unbanked, the GSMA Mobile Money Programme is working with mobile operators and industry stakeholders worldwide to create a robust mobile money ecosystem, increasing the relevancy and utility of these services and ensuring their sustainability. Mobile Money Market Trends And Strategies4. 2022 Mobile money The regions covered in the mobile money market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The increasing adoption of mobile POS (point of sale) is driving the growth of the mobile money market. Nigeria records impressive performance in 2022 Global Mobile Money report. box-shadow: 2px 3px 4px 1px rgb(188 177 177); Your email address will not be published. } World Bank This smart POS converts an Android smartphone into a point-of-service (POS) terminal using NFC technology that allows card payments via NFC-enabled android phones. For instance, in March 2021, Paytm, an Indian digital payments and financial services company, introduced Smart POS for Android devices that accepts contactless payments using NFC technology. South Korea Mobile Money Market15. text-transform: capitalize; The market is witnessing the implementation of advanced technologies such as NFC technology in mobile money for contactless payments. Mobile Money Market Future Outlook and Potential Analysis30. Australia Mobile Money Market13. Key Mergers And Acquisitions In The Mobile Money Market29. This increasing adoption of mobile POS will result in significant demand for mobile money as it is a convenient and efficient solution for point of sales. Activity rates 4G still has room to grow in most developing markets, particularly in Sub-Saharan Africa, but rising 5G adoption in leading markets means that 4G adoption on a global level is beginning to decline. Middle East Mobile Money Market26. Over the past decade, mobile money has expanded from a niche offering in a handful of markets to a mainstream financial service, moving millions of households in low- and middle-income countries (LMICs) from the informal cash economy into a more inclusive digital economy. In 2022, around 60% of MMPs offered users a savings account. @media only screen and (max-width: 550px){ The volume and frequency of transactions also registered strong growth. While it took the industry 17 years to reach the first 800 million customers, it took just five years to reach the next 800 million, according to Max Cuvellier, head of mobile for development at GSMA. France Mobile Money Market19. Despite the huge success of mobile money services in many countries, in others, the sustainability of mobile money services is threatened by certain policy and regulatory interventions, from taxes on transactions to poorly implemented instant payment solutions and costly data localisation mandates. There was a 28% year-on-year growth in mobile money-enabled international remittances. MEFs global consumer study series looks at the habits and attitudes of nearly 6000 consumers in nine countries. } Africa Mobile Money Market27. The company also introduced IoT-enabled Soundbox, offering instant voice-based confirmations of payments to merchants. However much of this growth happened in Sub-Saharan Africa where there is a 17 percent increase in registered accounts taking its number of users to 763 million. It is clear that mobile money is driving financial inclusion around the world. Eastern Europe Mobile Money Market20. WebThe results show that people who use mobile money to access credit represent 2 to 36% of respondents according to countries. WebIn 2021, mobile technologies and services generated $4.5 trillion of economic value added, or 5% of GDP, globally. This figure will grow by more than $400 billion by 2025 to nearly $5 trillion as countries increasingly benefit from the improvements in productivity and */ Mobile phone ownership is one of the main drivers of the mobile money gender gap, however, a number of other barriers and cultural norms also prevent women from adopting mobile money. To cite our research, please see our citation policy in our Terms of Use, or contact our Media team for more information. According to the report which is published annually by the GSMA and funded by the Bill and Melinda Gates Foundation, Nigeria contributed to the staggering 41 percent increase in the number of mobile money agents to around 17 million last year from 12 million in 2021. Much of this growth was in Nigeria where a liberalised regulatory regime has led to an increase in Mobile Money Providers. , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://mma.prnewswire.com/media/1882833/GSMA_Logo.jpg, 100 MILLION WOMEN PER YEAR WILL NEED TO ADOPT MOBILE INTERNET TO CLOSE THE GENDER GAP BY 2030, GSMA REPORT REVEALS. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. As the world emerges from the pandemic and social and economic activities begin to recover, connectivity will continue to play a vital role in the way people live and businesses operate. Copyright 2022 GSM Association.The GSM logo is registered and owned by the GSM Association. font-weight: 600px; li#menu-item-573577 a{ Thanks! 17.4 million: The number of mobile money agents in 2022, a 41% increase from the 12 million in 2021, $22 billion: The volume of mobile money-enabled international remittances, up 28% from 2021, 36%: The growth of bill payments, year-on-year, from 2021 to 2022, faster than any other year till date, It is clear that mobile money is driving financial inclusion around the world, said Mats Granryd, the director-general of GSMA, in the report. */ Ten years on, the number of live deployments has almost doubled to 316 and expanded to 98 countries worldwide. Please enter your username or email address to reset your password. Meanwhile, 5G adoption continues to grow rapidly in pioneer markets, with the total number of connections set to reach 1 billion in 2022. adunit = 'nairametrics.com_336x336_responsive_DFP', A lot of this growth came from Nigeria, where a more liberal regulatory regime meant an increase in mobile money providers. Leveraging 15 years of data across 43 markets, our award-winning resources and expertise provide impartial, up to date analysis on the issues shaping the future of payments.
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