Mobile Money State of The Industry

The "State of the Industry Report on Mobile Money 2021" is a comprehensive analysis of the mobile money industry, authored by Nika Naghavi. The report is based on a survey conducted in 10 low and middle-income countries (LMICs) including Bangladesh, Egypt, Guatemala, Indonesia, India, Kenya, Mexico, Nigeria, Pakistan, and Senegal. The survey aimed to understand consumer use of mobile money and mobile money-enabled services. The report covers a wide range of topics including the evolution of mobile money, key figures in the industry, and the impact of mobile money on financial inclusion. The report is particularly useful for individuals or organizations interested in understanding the current state and future trends of the mobile money industry.

Key Figures

• The report predicts an evolution of Tier 1 (transaction fee-based) and Tier 2 (diversification pillars) mobile money ARPU contributions over the next 10 years.
• The report highlights that about one quarter of mobile money providers have already opened their APIs to the public.
• The report also discusses the gender gap in mobile money account ownership, use, and awareness.
• The report provides insights into the barriers preventing mobile money account adoption, which are experienced more acutely by female respondents in certain countries.
• The report also discusses the impact of policy and regulation on the financial inclusion of millions through mobile money.

Key Takeaways

• The report emphasizes the importance of addressing the barriers preventing mobile money account adoption to increase access for all, especially for women who face these barriers more acutely in certain countries.
• The report suggests that mobile money providers are diversifying their business and ensuring commercial sustainability while also opening access to life-enhancing products and services.
• The report highlights the role of regulators in ensuring that millions in LMICs access life-enhancing services through digital payments.
• The report also suggests that policy reforms over the past decade have enabled mobile money to expand from a niche offering to a mainstream financial service.
• The report encourages further exploration of Tier 3 products and services such as Data APIs and Analytics as a Service, Agents as a Service (AaaS), Super apps and embedded features in third-party apps, Finance as a Service (FaaS), and Infrastructure as a Service (IaaS).