The number of mobile money accounts globally surpassed one billion according to the 2019 State of the Industry Report on Mobile Money published in March 2020 by GSMA.
According to the report, there has been an increase in the number of providers and transactions implying that mobile money is entering the mainstream and becoming the path to financial inclusion in most low-income countries.
Additionally, for the first time, digital transactions represent the majority of mobile money flows and there is more money circulating than exiting the mobile money system.
