GSMA Reports Strong Growth in Mobile Money Transactions
Mobile money transactions hit a record $1 trillion last year, reported GSMA Wednesday. “The industry enjoyed a substantial increase in the number of registered accounts, up 18% since 2020 reaching 1.35 billion globally,” it said: “The volume of person-to-person transactions…
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were up to more than 1.5 million every hour.” Mobile money transactions are playing an especially important role in low- and middle-income countries, GSMA said. Merchant payments “were instrumental in the growth of the mobile money industry in 2021” nearly doubling to $5.5 billion in transactions monthly, GSMA said.