2026年移动货币行业状况报告-

TheState

ofthe

IndustryReport

onMobileMoney2026ContributorsAshleyOlsonOnyango,AnnaColquhoun,

Dominica

Lindsey,

George

Bauer,

Gouri

Ramkumar,Jack

Odiwa,

Karim

Dia,Kennedy

KipkemboiSawe,

Panos

Loukos,

RebeccaSpriggs,

Rishi

Raithatha,Soheib

Nunhuckand

ZachWhite.ExternalcontributorsVibhorJain

(independentconsultant),AraméAwanis(independentconsultant),JonathanGreenacre(Boston

University),

DorotheSingerand

Leora

Klapper

(bothWorld

Bank).TheStateofthe

Industry

Reporton

Mobile

Money

2026

is

basedondatacollectedfromthe

GlobalAdoption

Survey

2025and

the

2025

GSMA

Consumer

Survey.©

2026–

GSMATheGSMAisaglobal

organisation

unifyingthe

mobileecosystemtodiscover,developanddeliverinnovationfoundationaltopositivebusinessenvironmentsandsocietal

change.Ourvisionistounlockthefullpower

of

connectivity

sothatpeople,industry,and

societythrive.Representingmobileoperatorsandorganisationsacrossthe

mobileecosystemandadjacentindustries,theGSMAdelivers

foritsmembersacrossthreebroadpillars:ConnectivityforGood,IndustryServicesandSolutions,andOutreach.This

activityincludesadvancingpolicy,tacklingtoday’sbiggest

societalchallenges,underpinningthetechnologyandinteroperabilitythatmakemobilework,andprovidingtheworld’slargestplatformtoconvenethemobileecosystemat

the

MWC

and

M360series

of

events.Weinviteyoutofindout

more

atTheGSMA’sMobileMoneyprogrammeworkstoaccelerate

thedevelopmentofthemobilemoneyecosystemfortheunderserved.For

more

information,please

contact

us:/mobilemoneymobilemoney@gsma.comGatesFoundaonAuthorsTheStateofthe

Industry

Reporton

Mobile

Money

2026

was

authored

byGianlucaStorchifromtheGSMA

Mobile

Money

programme’s

Data&

Insightsteam.Marketingsupportwas

provided

byJoyce

Kongand

Imelda

Lim.The

Mobile

Money

programmeissupported

by

theGates

Foundation.G与Mobile

forDevelopmentTMThisyear’sStateof

the

Industry

Report

captures

a

market

reaching

new

heightsandgreater

maturity,

withfivesignals

standing

out.First,adoptionand

regular

useare

surging.

In

2025,

theindustry

recorded

2.3

billion

registeredaccounts

and593

millionactive

30‑day

accounts,

liftingthe

global

monthlyactivity

rateto

25.7%

.Second,valueisscalingfaster

thanvolume

as

usedeepens.

Morethan$2.1trillionflowedthrough

mobile

money

in

2025–doublingfromthefirsttrillion

injust

fouryears,withaveragetransactionvalues

rising

asvaluegrowthoutpaced

volume

growth.Third,the

mixof

usecases

continuesto

broaden–

especially

merchant

paymentsandinteroperability.Merchant

paymentswerethefastest‑growing

usecase,

rising42%

to$155

billion

and

surpassing

bulkdisbursementsasthehighest‑valueecosystemtransaction.

Interoperableflowsalsoexpanded,with

bank‑to‑mobiletransfersat$167

billion

andmobile‑to‑bankat$163

billion,

reducing

reliance

oncash;agents

remained

pivotal,cashingin

$430

billion.Fourth,

providersareshiftingfromaccess

to

financial

health.Credit

remainswidely

offered–

often

asaffordable

nano‑loans–whilesavingsand

insurance

expandedfastestin

2025.

Nearly80%

of

surveyedproviderswere

profitable,supported

bya

15%risein

ARPUto$1.75as

revenue

streams

diversify.Fifth,

policy

progressand

risks

bothintensified.Providers

reported

moreenabling

rulesininteroperability,

KYCandconsumer

protection,yethighlighted

headwindsfromcross‑borderdata

rules,

transactiontaxesandgrowingfraud.The

gendergap

remainswideacross

mostsurveyed

countries,

underscoringtheneedfortargetedaction.Lookingahead,theindustry’s

growing

scale

andsophisticationwill

bring

newopportunities–

andnew

responsibilities.

Prioritiesincludeadvancinginteroperabilityandcross‑border

harmonisation;engagingindigital

public

infrastructure;strengthening

consumer

protectionandfraudcontrols;

andacceleratingwomen’sinclusionand

financial

healthoutcomes.

Mobile

money’s

role

in

humanitarianresponse,

PAYGservicesand

climatefinance

alsoshowsitsgrowingsocioeconomic

impact

when

paired

with

literacyand

safeguards.Thisyear’s

report

highlights

notonly

howfarthemarket

hascome,

butalsothe

prioritiesthatwill

shape

itsfuture.Wehopeit

serves

as

avaluable

resourceforallstakeholderscommittedto

advancing

safe,

inclusiveandsustainabledigitalfinancial

services.VivekBadrinathDirector

General,

GSMAAlmost25yearsafterthefirstservicewaslaunched,

mobilemoneyhasbecomeoneoftheworld’smostimpactfulfinancialservices.Whatbeganasasimple

waytomovemoneyhasevolvedintoaglobalfinancial

ecosystem,reshapinghowhundredsofmillionsofpeoplemanagetheirfinanciallives.GSAMobile

forDevelopment

The

State

of

the

Industry

Report

on

Mobile

Money

2026

03ForewordEditorialfourteentheditionof

theGSMA’slandmarkreportonmobile

money.Everyyear,wediligentlycollectdatafromtheindustry,processitanduseittounderstandhowmobile

moneyisevolving.Trackingitsprogresshelpsproviders

andregulatorsidentifychallengesandopportunitieswhileofferinginsightsintohowitbenefitsusers.With

more

peoplegainingaccessto

basicfinancialservices,thereis

nowafoundationto

focus

onfinancial

health–thecapacityto

manageday‑to

‑dayfinancial

needs,withstandshocksand

invest

in

thefuture.

Mobile

moneycandrivefinancial

healththroughthe

provisionofadjacentservices

like

credit,

savingsandinsurance.

Loansarethe

most

common

servicefrom

mobile

money

providers,with

nearlyas

manyofferingsavings.While

providers

offering

insuranceincreasedatafaster

ratethan

thoseofferingcredit

or

savings.Itisencouragingto

observe

steady

progresswithintheindustry.

Forthesecond

year

in

a

row,

we

havebeen

proudtoannounceits

achievement

of

majormilestones,firstinaccountsandthen

in

transactions.

Weare

particularly

happytosee

awidespread

riseinthe

monthly

usageof

mobile

money.

Becausethe

active

useofall

mobile

moneyservices

offers

users

morebenefitsthan

access

alone.Gianluca

StorchiGSMA

Mobile

Money

Data

&

InsightsWecontinuetocollaboratewith

partner

organisations

tocombinetheir

perspectiveswithour

data

‑drivenfindings.SOTIR

2026

marksthefourthconsecutive

yearthattheWorld

Bank’s

Global

Findexteamhascontributedtothis

report.

The

GSMA’s

Global

AdoptionSurvey

providesthesupply‑side

datathat

makes

SOTIR

unique,whilethe

Global

FindexDatabasecomplementsthiswithglobal

demand

‑side

insights.Together,thesesources

show

how

mobilemoney

hasexpanded

beyondsimplyoffering

access

tofinancialservices.TheGlobal

Findex

Database

2025

reportedthatmobile

money

isdrivingthegrowth

in

financialaccountownershipin

low

‑

and

middle

‑incomecountries.Withinthese

nations,almost190

millionadults

reliedon

mobile

moneyastheir

onlyformalfinancialaccount

in

2024.SOTIR’s

data

confirmsthis

growth

path,

reportingovertwo

billion

registeredmobile

moneyaccountsinthe

sameyear.

This

has

spurred

mobile

moneyspending,

pushingindustry

transactions

pasttwotrilliondollars

in

2025.GSAMobile

forDevelopment

The

State

of

the

Industry

Report

on

Mobile

Money

2026

04TheStateof

theIndustryReport(SOTIR)2026is

theContentsExecutivesummary

06Mobile

money

in

2025

0902Beyond

two

trillion

dollars:Mobile

money

use

cases

in202523Feature

Insights

from

the

Global

Findex20253703

Mobile

money

policy

trends

in202541Feature

Regulatory

innovation

for

mobile

money

agents

4501Rising

usage

rates:Mobile

money

adoption

in20251305Mobile

money’s

role

in

deepening

socioeconomic

impact

6504

The

mobile

money

gender

gap

in202554Appendices

72In

2025,

mobile

money

accounts

There

were

2.3

billion

registered

mobile

moneyrosebyrecordnumbers.

the

largesteverannualincrease

in

absoluteterms.Active

30‑dayaccounts

rose

by15%

to

593

million

in

2025.This

marksthe

highestannual

percentageincreasein

monthlyactiveaccounts

since

2021.

Most

new

registeredandactiveaccounts

in

2025

camefromSub‑SaharanAfrica.→percentage

pointto

25.7%

in

2025,the

highestit

hasincreasedworldwide.

beensince

2021.Thiswasdriven

byactive

30‑dayaccountsgrowingfasterthan

registeredaccountsin2025.

Rising

monthlyactivity

rateswereseen

acrossall

regionswhere

mobile

money

isoffered.

Theactive90‑dayactivity

rate

improvedtoo,

rising

by5.1

percentage

points

between

2016and

2025.→The

mobile

moneyindustrycrossed

an

important

threshold

in

2025–

morethan$2trillionflowed

through

mobile

moneywallets.While

ittookthe

industry

20yearsto

pass$1trillion

in

annualtransactionvalues,itonly

took

four

years

from

that

pointforthisfiguretodouble.

In

2025,

peer‑

to‑peertransfersaccountedforthebulk

oftotal

values,followedbycash‑basedand

ecosystem

transactions.→Therewere30

million

registered

mobile

moneyagents

in

2025,16%more

than

in

2024.Of

these,11

million

wereactiveon

a

monthly

basis–

17%morethanthe

year

before.

In

2025,theycashedin

$430

billiondollars,afifth

morethan

in

2024.The

averagenumberofactive30‑dayaccounts

served

peractive

agent

hasfalleninthe

recentyears,allowing

agents

tospend

moretimeserving

individual

customers.→Thegrowingnetworkofmobile

moneyagentscontinuestodrive

thedigitalisationofcash.Transactionvaluesgrewfasterthanvolumes

toreachakeymilestone.Executive

summaryRegular

mobile

money

usage

The

global

30‑day

activity

rate

gained

around

half

aaccounts,

268

million

morethanthe

previousyear–The

State

of

the

Industry

Report

on

Mobile

Money

202606More

mobile

money

providers

While

the

number

of

providers

disbursing

creditareofferingadjacentfinancialofferedadjacentfinancial

service.Almost

80%

ofservices,

particularly

savings

survey

participants

who

offer

credit

provide

affordableandinsurance.

money

providersofferedsavingsoptionsasthosethatofferedcredit.Whilethose

offering

insurance

increasedatafaster

ratethanthoseoffering

credit

orsavings.Almostathird

more

survey

respondents

provided

mobile‑enabledinsurancein

2025

relative

totheyear

before.→Interoperablemobilemoney

use

vInal2u0e2i5n

bearonp

troa‑bmobletrailenstraac

sfonersatw$1er6e7thehbillionighestMobi

le

‑Eachofthese

mobile

money

usecases

grew

by

more

thanathirdinvalue

compared

to

2024.

P2P

off‑net

transfersgrew

by

21%

to

$85

billion.

→Theysurpassedbulktransfersto

becomethe

highest

valueecosystemtransactionin

2025.

Most

ofthisgrowthcamefrom

EastAfrica,followed

by

South

AsiaandSoutheastAsia.

Between

September

2024

andJune2025,theaverage

survey

participantexperienceda41%

growth

in

registered

merchant

accounts.

→Merchantpaymentswerethefastestgrowingmobilemoneyuse

casein2025,risingbyalmost

half

to$155

billion.casesshowedsustainedgrowth.

to‑banktransferswere

slightly

lower

at

$163

billion.ExecutiveSummaryThe

State

of

the

Industry

Report

on

Mobile

Money

2026loansof

upto$20.

In

2025,

nearly

as

many

mobilestayedthesamein

2025,

it

remainsthe

most

widely07Mobile

money

plays

an

It

is

used

to

make

rapid

payouts

during

humanitarianimportantroleinfosteringpromotes

pay-as-you-go

usecases,andattemptsareinnovation

for

good.

being

made

to

use

this

avenue

for

cIimate

financingAverage

revenue

per

user

rose

by15%

from$1.52in

September

2024to$1.75in

June

2025,

sustainingprofitsfor

mobiIe

money

providers.Customerfeeswerethemainsourceof

revenuefor

overtwo-thirds

ofsurveyrespondents,

but

providerscontinuetodiversifytheirincomestreams.As

revenues

havegrown,so

havethecommissionsthat

providea

criticaI

sourceofincomefor

microand

smaII

enterpriseswithinthe

mobiIe

moneyagent

network.→OverhaIfreportedthat

interoperabiIity,

know-your-

customerandconsumerprotection

reguIationshad

become

moreenabIing.Cross-borderdatatransfer

reguIations

posedthegreatestchaIIenges.

Some

keyissues

remain,incIuding

mobiIe

money

transactiontaxes,impactonfinanciaIincIusion

and

thewidespreadeffectsoffraud.→Thegendergapand

women,s

mobiIe

moneypenetration

IeveIsimprovedinsome

countries-

an

encouragingchangecomparedto2024

when

IittIe

progresswas

madeovertheyear

before.

However,

womenwhoowna

mobiIe

money

account

are

Iess

IikeIythan

mento

have

useditin

the

past

month

in

mostsurveyedcountries.→Acrosstencountriessurveyed,a

widegendergapinmobilemoney

accountownershippersistsinsevencountries.Theregulatoryenvironmenthas

generallysupportedmostmobile

moneyproviders.Almost80%

of

surveyrespondentsrecordedaprofit

in2025.soIutions.

However,fortheseandother

usecasesto

succeed,

mobiIe

money

needsto

becompIemented

bydigitaIfinanciaI

Iiteracyinitiatives.

→ExecutiveSummaryThe

State

of

the

Industry

Report

on

Mobile

Money

2026crises,

particuIarIyin

remote

regions.

MobiIe

money08Digitaltransactionsprocessedper

year

o-$$1.3tnRegisteredmobilemoneyaccounts2.3bn+13%Merchantpayments$155bn+42%Active30-dayaccounts593m+15%Valueoftransactionstrillion$2.1Mobile

moneyin

2025Year-on-year

growth

+23%The

State

of

the

Industry

Report

on

Mobile

Money

2026+26%09

Digital

in17%

Circulating29%

Digital

out18%

Cash-based37%Bulk

disbursments7%Bank-to-mobile8%Merchant

payments8%Person-to-person

on-net21%Person-to-person

off-net4%Bill

payments4%Mobile-to-bank8%Cash

in21%Cash

out16%Monthly

value

snapshotDecember20251Global

overview2025

AccountsRegisteredmobile

money

accounts2.3bnYear-on-yeargrowthⒶ

Ⓑ

ⒸⒶ

International

remittances

in

2%Ⓑ

Airtime

top-ups

1%

Ⓒ

International

remittances

out

1%

TransactionsTransactionvolume125bnActive90-dayaccounts894mActive30-dayaccounts593mActive

11

mTransactionvalue

,$2.1

tnRegistered30

m1Note:

hereand

throughoutthis

report,

numbers

may

not

add

up

to

their

respective

totals

due

to

rounding

errors.The

State

of

the

Industry

Report

on

Mobile

Money

2026

Agents+15%+15%+13%+17%+16%+23%+16%10Global▶

East

Asiaand

thePacific▶

Sub-Saharan

Africa▶

SouthAsia▶

MiddleEastand

North

Africa▶

EuropeandCentral

Asia3472.3

bn593

m125

bn1741.2

bn341

m92

bn36473

m110m17

bn64455

m100

m13

bn3258

m18m1.1bn3386

m17

m1.5

bn821m6

m450

mRegional

growthin

2025▶

Latin

AmericaandtheCaribbeanThe

State

of

the

Industry

Report

on

Mobile

Money

2026Active30-dayaccountsTransaction

valueTransaction

volumeRegistered

accountsLiveservices+26%+23%+17%+16%+12%+7%+25%$304

bn$277

bn+13%+9%+18%+8%+8%+10%+4%+16%+19%+19%+8%+16%+15%+16%+10%+9%+11%+22%+35%-2%+5%$39

bn$62

bn$1.4

tn$2.1

tn$9

bn11LiveRegisteredActive30-dayTransactionTransactionservicesaccountsaccountsvolumevalueAfrica187▶

GlobalshareGrowth

in

Africain

2025CentralAfrica

20liveservicesWestAfrica

76liveservicesEast

Africa

62liveservices

128m

+20%

39m

+19% 7bn

+12% $105bn

+21%

537m+19%

193m

+22%

61bn

+19%

$806bn

+23%

517m

+15% 104m

+14%

22bn

+8%

$498bn

+34%

SouthernAfrica16live

servicesNorthAfrica13live

services30m6

m491

m$15

bn33m5

m662m$8bn+17%+29%+60%+41%+21%+29%+19%+13%The

State

of

the

Industry

Report

on

Mobile

Money

202674%66%$1.4

tn

+27%

59%54%52%347

m

+19%

1.2

bn

+18%

92

bn

+16%

1201

Rising

usage

ratesadoption

in2025MobilemoneyThe

State

of

the

Industry

Report

on

Mobile

Money

2026Registered

and

activeaccounts

increased

byrecord

numbersActive

30

‑dayaccounts

rose

by15%

to

593

millionin

2025.This

marksthe

highestannual

increase

inmonthlyactiveaccountssince

2021

when

growthreached16%

.Anadditional

77

million

people

usedmobile

moneyona

monthly

basis

in

2025.

Likeregisteredaccounts,thiswasthe

biggestannualincreaseinthenumberofactive30‑day

accounts

since

theindustry

began.

EastAfrica

ledthis

rise

by

awide

margin,accountingforalmosthalfof

newactive

30‑day

accounts.WestAfrica,SoutheastAsia

and

South

Asia

contributed16%,12%

and

10%,

respectively.In

2025,therewere

2.3

billion

registered

mobilemoneyaccounts,13%morethanthe

previousyear(Figure

1

↓)

.The

industry

gained

268

million

newregisteredaccounts,its

largestever

annual

increase

inabsoluteterms.Sub

‑SaharanAfrica

continuestodrivethisexpansion,

accountingfor

morethantwo‑thirdsofthegrowth

in

2025.

Around

15%

of

new

registeredaccountsoriginatedin

EastAsia

and

thePacificand

12%

from

SouthAsia.

Figure1Registered

and

active30-day

accounts2015–2025,

billion2.42.22.01.81.61.41.21.00.80.60.40.2001Rising

usage

rates:

Mobile

money

adoption

in

2025

The

State

of

the

Industry

Report

on

Mobile

Money

202620152016201720182019202020212022202320242025GSAMobile

forDevelopment593

m↑15%

YoYgrowthSource

GSMAGlobalAdoptionSurvey

2025

and

estimates2.3

bn↑13%

YoYgrowthActive30-day

accountsRegistered

accounts14Sub-Saharan

Africa31.7%27.7%26.0%25.3%Global23.2%South

Asia21.9%Thiswasdriven

byactive

30

‑day

accounts

growing

fasterthan

registeredaccountsin

2025.

Risingmonthlyactivity

rateswereseen

across

all

regionswhere

mobile

money

isoffered.

InSub

‑SaharanAfrica

and

LatinAmericaandthe

Caribbean,the

monthlyactivity

ratedroppedin

2024

but

rose

in

2025.

InEastAsiaandthe

Pacificand

South

Asia,

the

30

‑day

activity

rateedged

upin

both

2024

and

2025.Regular

mobile

money

usageisincreasing

worldwide.

Theglobal30‑day

activity

rate2

gained

around

half

a

percentage

pointto

25.7%

in

2025,the

highestit

has

been

since

2021

(Figure

2

↓)

.Theglobalmonthlyactivity

rate

hit

afive-yearhigh40%38%36%34%32%30%28%26%24%22%20%18%Figure2Active30-day

account

rates

by

region2021–202531.9%28.1%25.7%23.3%22.1%01Rising

usage

rates:

Mobile

money

adoption

in

2025

The

State

of

the

Industry

Report

on

Mobile

Money

20262021

2022

2023

2024

2025GSAMobile

forDevelopmentSource

GSMAGlobalAdoptionSurvey

2025

and

estimates2The

proportion

of

registered

accountsthat

were

used

inthe

preceding

month.Latin

America

andtheCaribbeanEast

AsiaandPacific15Theactive90

‑dayactivity

rate3

offers

an

alternative

viewof

mobile

money

usage.

Inthe10years

between2016and

2025,theglobal

90

‑day

activity

rate

rose

by5.1

percentage

points

(Figure

3

↓)

.The

monthlyactivityrate

rose

by

2.5

percentage

pointsduringthistime.This

impliesthatwhilethe

proportionof

mobile

money

accounts

used

monthly

has

riseninthepast

decade,

theshareofthose

using

it

slightly

lessfrequently

has

grownfaster.2016 LatinAmericaandtheCaribbean

52.5%

56.6%

↑4.2pp2016

2025Thethree

‑

monthactivity

rateincreasedthe

most

in

EastAsiaandthe

Pacific,

Sub

‑SaharanAfrica

and

LatinAmericaandthe

Caribbean–

betweenfourand

nine

percentage

points.The

rise

in

South

Asiawas

more

modest

(0.9

percentage

points),whilethe

Middle

Eastand

NorthAfrica

dropped

by

4.2percentage

points.

Global

33.6%

38.7%

↑5.1pp2016

2025Source

GSMAGlobalAdoptionSurvey

2025

and

estimatesThethree-monthglobalactivityrateroseover

thepastdecadeFigure3Active90-day

account

rates

by

region2016and

2025

SouthAsia

30.9%

31.8%↑0.9pp2016

2025 EastAsiaandPacific

26.1%

34.9%

↑8.8pp2016

2025

Sub-SaharanAfrica

35.8%

42.4%

↑6.6pp2016

2025 Middle

Eastand

North

Africa

34.6%

30.4%

↓-4.2pp01Rising

usage

rates:

Mobile

money

adoption

in

2025

The

State

of

the

Industry

Report

on

Mobile

Money

2026GSAMobile

forDevelopment3The

proportionof

registered

accountsthatwere

used

in

the

preceding

three

months.202516Value

of

cash-ins

at

an

agent

Mobile

moneyagentscontinueto

playthe

vital

role

of

digitalisingcash.

In

2025,theycashed

in

$430

billion

dollars,afifth

morethantheyear

before

(Figure

4

↓)

.Thisisthe

highestyearly

growth

rate

infour

years.Eachyear

between

2021and

2025,the

numberof

activeagentsona

30

‑day

basis

scaledfasterthan

active30

‑dayaccounts.As

a

result,the

averagenumberofactive30

‑dayaccounts

per

active

agent

fellfrom

28to19

overthis

period.Agents

can

now

spend

moretimeservingindividual

customers

and

provideadditionalsupportwhere

necessary.Therewere30million

registered

mobile

moneyagentsin

2025,16%

more

than

in

2024.Of

these,

11

millionwereactiveonamonthly

basis–

17%

morethantheyearbefore.Mostactive

agentgrowth

camefrom

East

Africa

(53%),followed

byCentralAfrica

(13%),WestAfrica

(10%),SouthAsia

(9%)andSoutheastAsia

(9%).$359bn$317bn

↑20%

$283bn

Figure4Global

value

of

agent

cash-ins

and

active

accounts

per

active

agent2021–2025YoYgrowth

$250bn$500

Billion$450$400$350$300$250$200$150$100$50$0Agentcash-insgrewsharply01Rising

usage

rates:

Mobile

money

adoption

in

2025

The

State

of

the

Industry

Report

on

Mobile

Money

202626282021

2022

2023

2024

2025GSAMobile

forDevelopment

↑13%

↑12%