Mobile money report 2020 From GSMA
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The following is the Mobile money report 2020 From GSMA recommended by recordtrend.com. And this article belongs to the classification: GSMA, research report, financial technology.
GSMA released the mobile money report 2020, which shows the future of the mobile economy and highlights the impact of greater financial inclusion on life, economy and innovation, especially in emerging markets. This year’s report focuses on the mobile account registration and the future of mobile account adoption.
2019 marks an important milestone in the mobile money industry, with more than 1 billion registered accounts and nearly $2 billion daily transaction volume. In the mobile currency interaction, digital transactions accounted for more than 50% (57%) for the first time. The industry is witnessing increasing user trust and relevance. With 290 services and 372 million active accounts in 95 countries, mobile money is entering the mainstream and becoming the financial inclusive road for most low-income countries. For consumers, this marks a shift from cash to digital payment, designing tuition fees, e-commerce, international remittances, savings, credit, pay as you go utilities, etc.
The most noteworthy trends in 2019:
More and more suppliers are becoming sustainable in operation;
Direct income from mobile money is supporting investment in innovative products and services, network expansion, and healthy and sustainable agency commissions;
The industry continues to invest in distribution networks, the number of agency outlets has nearly tripled in the past five years, and the coverage of mobile money agents is now seven times that of ATMs and 20 times that of bank branches;
Payment digitization has reached a new level, with digital transactions accounting for the first time (57%) of mobile capital flows in 2019.
In the mobile money system, there is more value in circulation than in exit.
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