Mobile Money Accounts Hit 2.3 Billion Globally as Transactions Top $2.1 Trillion — GSMA Report

The global mobile money ecosystem reached a new milestone in 2025, with registered accounts surging to 2.3 billion, according to the latest State of the Industry Report on Mobile Money 2026 released by the GSMA.

The milestone underscores the accelerating role of digital financial services in driving financial inclusion, economic participation, and cashless transactions across both emerging and developed markets.

A mobile money account—essentially a secure digital wallet linked to a phone number—enables users to store funds, send and receive money, and make payments without requiring a traditional bank account.

Despite the surge in registrations, user engagement remains uneven. Of the 2.3 billion registered accounts, only 593 million were active within a 30-day period, translating to a global activity rate of 25.7%.

“Adoption and regular use are surging… Value is scaling faster than volume as use deepens,” the report noted.

Financial activity continues to expand at remarkable speed. Over $2.1 trillion flowed through mobile money platforms in 2025—doubling from the industry’s first trillion-dollar milestone in just four years. Notably, transaction values are growing faster than volumes, indicating deeper and more sophisticated usage patterns.

Growth Momentum from 2024 Sustained

The 2025 performance builds on strong momentum recorded in 2024, when global mobile money transactions reached $1.68 trillion across 108 billion transactions—a 20% year-on-year increase in volume.

Interoperable transactions—enabling seamless transfers across platforms—accounted for 23% of transaction growth, reflecting increasing ecosystem integration.

Merchant Payments and Interoperability Drive Expansion

The report highlights a shift beyond peer-to-peer transfers:

Merchant payments surged by 42% to $155 billion, emerging as the largest transaction category
Bank-to-mobile transfers reached $167 billion, while mobile-to-bank flows hit $163 billion
Agent networks processed $430 billion, reinforcing their role in bridging digital and cash economies

These trends signal a gradual but steady decline in cash dependency, particularly across Africa.

From Access to Financial Health

Mobile money providers are shifting focus from access to financial wellbeing and ecosystem depth.

In 2025, growth accelerated across:

Microcredit and nano-loans
Savings products
Insurance services

Nearly 80% of providers reported profitability, while ARPU rose by 15% to $1.75, reflecting improved monetisation and service diversification.

Africa’s Next Growth Catalyst: $40 Smartphones

In a parallel development, telecom giants including MTN Group, Airtel Africa, and Orange are backing a $40 smartphone initiative across six African countries, including Nigeria.

Led by the GSMA Handset Affordability Coalition, the initiative could significantly accelerate smartphone penetration, mobile money adoption, and digital inclusion across underserved populations.

The Big Picture

Mobile money is rapidly evolving from a financial inclusion tool into a core infrastructure of the digital economy. However, bridging the gap between access and active usage will require stronger focus on trust, usability, financial literacy, and ecosystem innovation.