NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Tuesday, March 3, 2015

BARCELONA, Spain–(BUSINESS WIRE)–The GSMA’s Mobile Money for the Unbanked (MMU) programme today released its fourth annual ‘Mobile Financial Services State of the Industry Report’, providing a quantitative assessment of the state of mobile financial services, including mobile money, mobile insurance, mobile savings and mobile credit. The report draws on the results of the annual MMU Global Adoption Survey of Mobile Financial Services, as well as data from the online MMU Deployment Tracker and qualitative insights on the performance of mobile financial services from the MMU programme’s engagement with the industry over the last year.

“As this report demonstrates, mobile financial services have an important social and economic impact on millions of people in emerging markets around the world,” said Tom Phillips, Chief Regulatory Officer, GSMA. “Mobile is a key enabling tool for financial inclusion and over the last year, we’ve seen significant growth in mobile financial services, not only in the number of services and geographies served, but also in the breadth of products that are now available to previously unbanked individuals. It’s critical that we continue to build on these foundations to truly drive this industry to scale.”