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Mobile money market going strong

The GSMA has released its sixth ‘State of the industry report on mobile money’, which looks back across the decade since the pioneering launch of M-Pesa in Kenya, which first demonstrated the potential of mobile technology to transform access to financial services. Today, the GSMA says, there are more than half a billion registered mobile money accounts across 92 countries. In December 2016 alone, the industry processed 1.3 billion transactions, averaging around 30,000 transactions a minute. The research also shows that nearly 174 million accounts are active (on a 90 day basis); there are 35 mobile money services with over 1 million active accounts; there are more than 4.3 million mobile money agent outlets, with 30 countries now having ten times more active mobile money agents than bank branches; and the average cost of sending international remittances using mobile money is less than half the cost of doing so via a global money transfer operator. More here

  • Friday, 17 March 2017

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