Global mobile money transactions hit $1.68tr in 2024 – GSMA
..As digital finance deepens globally
BY MOTOLANI OSENI
Mobile money platforms processed over $1.68 trillion worth of transactions in 2024, according to the Global System for Mobile Communications Association (GSMA), underscoring the growing dominance of digital finance in reshaping global economic activity and financial inclusion.
The figure, released in GSMA’s State of the Industry Report on Mobile Money 2025, reflects a robust 20 per cent surge in transaction volume from the previous year, with approximately 108 billion mobile money transactions carried out globally. This marks another year of strong double-digit growth for the mobile money industry.
Transaction values also rose by 15 per cent to reach $227 billion, outpacing the 13 per cent recorded in 2023. Peer-to-peer (P2P) transfers drove nearly half of the increase, while interoperable transactions—those allowing movement of funds across different platforms or providers—accounted for 23 per cent of the growth.
For the third year in a row, the number of transactions grew faster than their overall value, leading to a 4 per cent dip in the average size of individual mobile money transactions. Despite the drop, the data revealed deeper user engagement, with a 4 per cent rise in the total amount transacted and an 8 per cent increase in transaction frequency per active 30-day account.
GSMA said that by December 2024, 21 out of every 100 adults in countries with mobile money services had used a mobile money account within the previous three months, reinforcing the industry’s role in advancing financial inclusion.
As mobile money continues to expand its reach in emerging markets—where access to traditional banking remains limited—the ecosystem is evolving rapidly. Individuals and businesses are increasingly using the services for everyday payments, savings, remittances, and bills, solidifying mobile money’s role in economic development.
GSMA Director General Vivek Badrinath stated that by the end of 2023, mobile money had lifted the combined GDP of participating countries by $720 billion, compared to a scenario without it. While Sub-Saharan Africa remains the global leader in mobile money adoption, the East Asia-Pacific region is showing accelerating progress.
