Global mobile money transactions passed US$2 trillion in 2025. This shows how fast the industry is growing. This is according to the latest GSMA State of the Industry Report on Mobile Money 2026. 

While it took the industry 20 years to reach US$1 trillion in annual transaction value, it took only four years from that point for that figure to double. In 2025, peer-to-peer (P2P) transfers accounted for 42% of total value, followed by cash-based and ecosystem transactions with 37% and 21%, respectively. 

“It took 20 years to reach US$1 trillion, but just four more years for the figure to double. What began as a simple way to move money has evolved into a global financial ecosystem, reshaping how hundreds of millions of people manage their financial lives,” said Vivek Badrinath, GSMA Director General. 

The report shows that mobile money now serves 2.3 billion registered accounts, up by 268 million from 2024. 

“Adoption and regular use are surging, and value is scaling even faster than volume,” Badrinath added. 

Most of the growth comes from Sub- Saharan Africa, where mobile money has become a lifeline for people without traditional bank accounts. Active users, those using accounts at least once a month, rose 15% to 593 million, with monthly usage climbing to 25.7%, the highest since 2021. 

“Through more frequent usage, mobile money users can improve their financial health by benefiting from credit, savings, and insurance. Insurance provision by mobile money providers increased by one-third in 2025, while credit and savings services continue to expand,” he said. 

He noted that regulation is playing a key role in growth. Over 60% of mobile money providers believe that interoperability, know-your-customer, and consumer protection rules have supported their operations. 

Yet barriers remain. About 24% of providers said cross-border data restrictions have hindered their work. 

“With supportive regulation, the industry can continue growing and advance financial inclusion,” he said. 

Despite growth, women remain less likely to use mobile money regularly. 

“Aside from Ghana, Kenya, and Nigeria, women who own mobile money accounts are still less likely than men to have used them within the past month,” the report warns. 

Mobile money is also supporting social programmes and emergency aid. 

“It enables rapid payouts during crises, particularly in remote regions,” the report notes. 

Badrinath said the industry must continue innovating responsibly. By prioritising interoperability, strengthening consumer protection, and accelerating women’s inclusion, we can ensure mobile money continues to provide safe, inclusive, and sustainable financial services. 

The report confirms what last year’s figures hinted at: mobile money is growing faster than ever, reaching more people and offering more services, but challenges like inactivity, fraud and inequality remain. 

-pmukokobi@nepc.com.na