The number of agent outlets has almost tripled over the past five years, and the reach of a mobile money agent is now seven times that of atms and 20 times that of bank branches. The region is now served by more than live mobile money services, many of them led by mobile operators, and a network of more than 1. Mobile financial services for the unbanked responsible finance. Mar 16, 2018 the gsma short for groupe speciale mobile association, a trade body that represents mobile network operators across the world recently released its 2017 state of the industry report on mobile money. A mobile money service includes transferring money and making and receiving payments using the mobile phone. The reach of a mobile money agent is now seven times that of atms and 20 times that of bank branches. Nov 22, 2017 whereas, as part of the gsma s mobile money programme, the gsma launched a code of conduct for mobile money providers the code of conduct to support the development of a safe and responsible industry for digital financial services. Andersson manjang that comprised of julian hoffmann, kavita tailor and tapiwa jakachira.
Payments as a platform promises a host of benefits for small and midsize enterprises smes to be more accessible to and better meet the needs of their customers, particularly those in emerging markets who may not be able to tap into traditional banking services. With mobile money, people can send or receive international transactions whenever suits them. Mobile money is a recent innovation that provides financial transaction services via mobile phone, including to the unbanked global poor. Overall, users give their mobile money service high marks. The gsma mobile money programme is working with mobile operators and industry stakeholders to create a robust mobile money ecosystem, which will make these services more relevant and useful and ensure they remain sustainable.
Merchant, aggregators, utility companies and the mobile money platforms. For more information on full subscription access, contact us. The mobile money environment is fragmented with each platform vendor offering their own api. Mobile money can unlock new models of energy services such as affordable bill payments and machinetomachine m2m connectivity to remotely control services. Mobile payment also referred to as mobile money, mobile money transfer, and mobile wallet generally refer to payment services operated under financial regulation and performed from or via a mobile device. The report highlights a number of encouraging developments in how mobile money is spreading financial inclusion worldwide. Enabling regulatory solutions pdf gsma february 20. The number of mobile money accounts in nigeria increased from 5. Yet despite the over 100 mobile money deployments around the world, only a handful have reached economies of scale. Mobile money service certification policy and processes. In order to meet the changing needs of smes, the mobile money industry is evolving. Gsma owns and maintains the compliance criteria to ensure they best represent industry needs.
The gsma s mobile money programme works to accelerate the development of the mobile money. Highlights from the gsmas 2017 mobile money report aier. For more information, please visit the gsma corporate website at. Mno selects and recruits agents for their mm network. Mobile for development impact gsma supports the digital empowerment of people in emerging markets through its mobile for development impact programme, used to inform investment and design decisions for mobile services. Women and mobile financial services in emerging markets pdf worldbank april 2012. Chart 1 provides the number of mobile money customers compared with the number of bank customers from 20 to 2016. The gsma also produces industryleading events such as mobile world congress, mobile.
Measuring financial inclusion pdf world economic forum december 2011. Developing mobile money ecosystems harvard kennedy school. The document addresses the trends and initiatives of the mobile money industry that generate better benefits for society and make it possible to move a step closer to a digital future. Forces shaping the future of the industry appendix a. Jul 30, 2020 more mobile money users held active accounts in eastern africa than any other region during 2019, with 102 million active accounts in the region. The mobile economy subsaharan africa gsma intelligence. Highlights from the top 100 pitches despite the increases in mobile broadband coverage worldwide, a large gap remains in usage.
According to the gsma 1 website, as of september 20, there are 192 live mobile money operations in the world, and a further 109 in. New potential for mobile money has come with the rise of interestearning bankintegrated mobile savings systems, beginning with the launch of the mkesho system in march 2010. The gsma ministerial programme has grown in popularity and scope since its launch in 2006. Provide regulators with an understanding of the steps taken by the bangko sentral ng pilipinas that have enabled the success of gcash and smart money 2. The completed toolkit is then used by the assessor to complete the assessment. Figure 1 number of mobile money services per country, 2020 3,4 4 services 1 service 2 services 3 services 5 or more services 310 services in 96 countries 3 gsma mobile money deployment tracker. Our work is freely accessible through support from omidyar network and. May 18, 2020 at the end of march 2020, the gsma published the state of the industry report on mobile money 2019. Please provide your account email and password below new users can sign up for a public account.
In ghana, the mobile money wallet is mainly used to transfer value from one person to another person p2p, for payment of goods and services such as buying airtime, paying for utility bills. Money mobile money state of the industry report on. Regulatory landscape for mobile banking, discussion paper pdf. The gsma mobile money certification is a global initiative to bring safer, more transparent, and more resilient financial services to millions of mobile money users around the world. Additionally, 23% of those affected said taxation was harming the uptake of mobile money services and their business, revealing the regressive effect of poorly designed taxes. Senior executives in mobile and adjacent industry verticals come to learn and discuss in detail their challenges and successes as well as network with peers. Gsma submission global compact for safe, orderly and regular. Gavin krugel, director, mobile money transfer programme, gsma. The paper focuses on innovative mobile phones money and. The quantitative assessment of this report was carried out by a team under the supervision of simon k. Eastern 278 middle east 175 519 estimate the total unbanked mobile money subscriber potential by applying the adoptions rates to total unbanked mobile. Has an assessment been made to ensure that any international transfer of personal data e. The gsma represents the interests of mobile operators worldwide, uniting more than 750 operators with nearly 400 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors.
Unbanked mobile money subscribers 2012, m total mobile subscribers 2012, m mobile money subscribers 2012, m 33 49 75 88 15 23 35 41 362 168 africa americas 446 asia pacific 2,155 europe. Gsma, state of the industry report on mobile money 2018. Instead of paying with cash, cheque, or credit cards, a consumer can use a mobile to pay for a wide range of services and digital or hard goods although the concept of using noncoinbased. Ifc has recognized the potential of using mobile money as a mechanism to deliver financial inclusion and, in november 2012 mobile money was formally adopted as a significant part of its access to finance work. Responsible for creating the original mobile money code of conduct back in 2014, the gsma has created the mobile money certification scheme. Mobile money enables mobile phone owners to deposit, transfer, and withdraw funds into a digital account without owning a bank account. For this reason, the gsma defined a restful harmonized mobile money api application programming interface to standardize the connection between api clients e.
We hereby share some of the main aspects and data that we consider important to highlight. Provide mobile operators deploying mobile money offerings with a. The gsmas mobile money programme works to accelerate the development of the mobile money ecosystem for the underserved. By providing a compelling use case for mobile money, payg providers are driving mobile money penetration and usage, increasing brand. The gsma mobile money programme is working with mobile operators and industry. Mobile money continues to improve financial inclusion in africa. About the gsma s state of the industry report on mobile financial services. The existing problem with mobile money transfer services is they were initially designed for individuals, not businesses. State of the industry report on mobile money of the gsma. Mar 27, 2020 the mobile money industry has created opportunities for entrepreneurs in emerging markets to become agents. To take the industry to the next level, the gsma led the development of the mobile money.
Gsma mobile 360 series presents a conference platform cultivating regional engagement through topics that are impacting the mobile industry on both a localised and global scale. The gsma s mobile money team estimates that there will be 1. Criticalfactorstocreatesuccessful mobile money agents. Safety, privacy and security across the mobile ecosystem gsma. Definition of mobile money mobile money the use of information and communication technologies icts and nonbank retail channels to extend the delivery of financial services to clients who would not be reached profitably with traditional branchbased financial services. For example, for many of the 690 million people who have a registered mobile money account, a mobile phone is their main, if not their only, means to receive, send and save money. This paper evaluates the profitability of mobile money by estimating profit. The region accounts for 52% of the 271 live mobile money services in 93 countries and 64% of all active mobile money accounts.
Enabling mobile money policies in kenya fostering a digital. The definition of mobile money varies across the communication industry as it covers a wide scope of overlapping applications dermish et al. Objectives and executive summary objectives the objectives of this case study are to. Affordability and coverage are key barriers in driving increased mobile penetration and the socioeconomic benefits that follow from improved access to mobile services. Mobile money transaction value by region 2019 statista. The gsma represents the interests of mobile operators worldwide, uniting nearly 800 operators with almost 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. Aug 03, 2020 mobile money users in subsaharan africa as well as the middle east and north africa region, made transactions amounting to 465. It also makes a call to policymakers and regulators to take a broad view of the issues at stake, in order to help develop multistakeholder solutions that best protect the overall. Mobile money operators typically leverage an agent network to. The groupe speciale mobile associations gsma s mobile money for the unbanked team publishes a yearly state of the industry report which shows that since 2011, the amount of active agents providing digital finance services has grown by almost 800% represented by the blue bars in figure 1, while the. This unique event has been attended by industry ceos, ministers, telecom regulators, data protection authorities and senior representatives of international organisations all gathering to share knowledge, stimulate debate around current issues and provide an opportunity to engage with mobile.
It is therefore distinct from mobile banking, which allows access. The gsma mobile money programme considers services that meet the following definitions a mobile money service. Contents foreword introduction a decade of progress mobile money industry lessons mobile money impact looking ahead. Gsma mobile money certification toolkit mobile money. Six new services were launched in africa in 2015, with another four in the first half of 2016.
Gsma mobile money certification assessment agreement. The cost of running a mobile is around 5% of personal income in nigeria, well above the threshold of 23% below which penetration starts to rise steeply. It also offers strategic gains for mobile operators. Apr 11, 2018 the gsm association gsma represents the interests of mobile network operators mnos worldwide. This suggests that once people try mobile money, they find it has value. The approach to adopting mobile financial services differs throughout the world due to a variety of factors, including the regulatory and legal environments, access to supporting. The gsma also produces the industryleading mwc events held annually in barcelona. Mobile money is convenient international money transfer. Regulatory impact on mobile money and financial inclusion. Mobile money had direct impacts on consumption, the ability to cope with shocks, and extreme poverty. Interoperability should not be confused with interconnection, which is the ability to technically connect with another network. Mobile money leadership forum networking politico event side events side meeting side session side sessions women 4 tech working groups workshops. The purpose of this paper is to evaluate how the surge in mobile money usage impacts on the payment systems in ghana.
Mobile money in the philippines the market, the models and regulation 3 part 1. In general, mobile money is a term describing electronic financial services performed via a mobile phone. The gsma mobile money certification toolkit is the foundation of the certification process. Gsma innovation fund for mobile internet adoption and digital inclusion. The impact of data localisation requirements on the growth of. Research brief the impact of mobile money on poverty. Mobile money key to africas growth, but bad tax policies ruin it. Mobile money metrics is an interactive tool that provides a comprehensive set of global metrics by combining unique data sources that the gsma mobile money programme has been collecting and analysing since its inception. Mobile money increased consumption expenditure by 44% when households experienced a flood shock in mozambique batista and vicente, 2020. Mobile money the gsma represents the interests of mobile operators worldwide, uniting nearly 800 operators with almost 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors.
The focus for industry should be on encouraging potential customers to try mobile money. The economics of mobile money oxford martin school university. State of the industry report on mobile money 2021 gsma. This is one of the criteria under the gsma mobile money certification under principle 8 around data privacy. Mobile money refers to financial transactions and services that can be carried out. Gsma mobile money the gsma represents the interests of mobile operators worldwide, uniting nearly 800 operators with more than 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. It is based on independent assessments of a providers ability to deliver secure and reliable services, to protect the rights of consumers and to combat money. The technology has spread rapidly in the developing world, leapfrogging the provision of formal banking services by solving the problems of weak institutional infrastructure and the cost structure of. The gsma mobile money programme is working with mobile operators and industry stakeholders to create a robust mobile money ecosystem, which will increase the relevancy and utility of these services, and ensure their sustainability. Instead of paying with cash, cheque, or credit cards, a consumer can use a mobile to pay for a wide range of services and digital or hard goods. Providers take robust steps to ensure the security of the mobile network and channel. Enabling mobile money policies in kenya fostering a. Oct 23, 2020 according to another report of gsma, 77% of mobile money providers reported paying sectorspecific taxes in 2019, whether on fees, transaction values, or total revenue. Gsma ministerial programme 2021 mwc barcelona 2021.
1581 1858 1346 1050 696 566 1257 796 1687 253 992 143 38 226 1655 148 1153 530 507 1123 382 1424 783 1578 1609 1165 347