At Mobile World Congress in Barcelona, the GSMA just announced that the number of active Mobile Money accounts globally now exceeds 100 million. Sub-Saharan Africa alone accounts for more than half (53%) of the world’s live mobile money services. Please see below for comment from WorldRemit, the leading provider of remittances to mobile wallets.
WorldRemit founder and CEO, Ismail Ahmed said: “The rapid growth of Mobile Money services represents one of the biggest enlargements of participation in the global financial system, ever.
“As the leading sender of remittances to Mobile Money, WorldRemit understands the life opportunities that are unlocked when people have the ability to receive, spend and save money via a mobile device.”
“Many of our Mobile Money partners also offer insurance products, education and healthcare bill payments, and savings schemes. Cash is increasingly becoming an obsolete technology as the developing world sprints ahead of the developed in its adoption of Mobile Money.”