GSMA-2021年移动钱包行业报告（英文）-2021.03正式版-WN4

StateoftheIndustryReportonMobileMoney

2021

Copyright©2021GSMAssociation

MobileMoney

TheGSMArepresentstheinterestsofmobileoperatorsworldwide,unitingmorethan750operatorswithalmost400companiesinthebroadermobileecosystem,includinghandsetanddevicemakers,softwarecompanies,equipmentprovidersandinternetcompanies,aswellasorganisationsinadjacentindustrysectors.TheGSMAalsoproducestheindustry-leadingMWCeventsheldannuallyinBarcelona,Africa,LosAngelesandShanghai,aswellastheThriveSeriesofregionalconferences.

Formoreinformation,pleasevisittheGSMAcorporatewebsiteat

FollowtheGSMAonTwitter:

@GSMA

TheGSMA’sMobileMoneyprogrammeworkstoacceleratethedevelopmentofthemobilemoneyecosystemfortheunderserved.

Formoreinformation,pleasecontactus:

Web:/mobilemoney

Twitter:@GSMAMobileMoney

Email:mobilemoney@

Authors

SimonK.Andersson-Manjang

NikaNaghavi

TheStateoftheIndustryReportonMobileMoney2021waspreparedbythedatateamoftheGSMAMobileMoneyprogramme.TheteamisledbySimonK.Andersson-ManjangandcomprisedTapiwaJakachira,KavitaTailorandJulianHoffmannandsupportedbyEmilyNormanandOluOmobitan.

GSMAMobileforDevelopment(M4D)Contributors

BelindaBaah,KennedyKipkemboi,DominicaLindsey,BrianMuthiora,AnantNautiyal,VijiPathy,Bart-JanPors,DanieleTricaricoandZachWhite

TheStateoftheIndustryReportonMobileMoney2021isbasedondatacollectedfromtheGlobalAdoptionSurvey2020.

Thetitleofthereporthasbeenupdatedtoreflectthelaunchdate.

THEMOBILEMONEYPROGRAMMEISSUPPORTEDBYTHEBILL&MELINDAGATESFOUNDATION.

StateoftheIndustryReportonMobileMoney2021

Foreword

WhentheCOVID-19pandemictookholdinearly2020,itquicklybecameclearthatmobiletechnology,andmobilemoneyinparticular,wouldhaveanoutsizedroletoplayinkeepingpeopleconnected,deliveringvitalfinancialsupportandprovidingsafe,no-contactwaystopayforfood,electricityandotherlifeessentials.Withmorethan$2billionbeingtransactedeveryday,mobilemoneybecameapartofanewdailyroutineformillionsaroundtheworld.

WhileCOVID-19affectedusall,itdidnotdosoequally.Thosehithardestwerealreadythemostvulnerable–livinginpoverty,affectedbycrisisandfinanciallyexcluded.COVID-19magnifiedthesedisparities,creatingnewdevelopmentchallengesandexacerbatingexistingones.Withover1.2billionregisteredaccountsand300millionmonthlyactiveaccounts,mobilemoneyprovidersbecameanintegralpartofthenationalCOVID-19responseinmanymarkets,offeringasecureandreadychanneltodisbursepandemicreliefpaymentstothepublicquickly,securelyandefficiently.

Manyofthesocio-economicanddevelopmentchallengesarisingfromthepandemicarebeingtackledwithmobilemoneytools,andtheGSMAisprovidingsupportthroughavarietyofinitiativesandpartnerships.

InlinewithGSMA’seffortstoencourageecosystemdevelopmentandenableinclusiveandinterconnectedmobilefinancialinfrastructures,theGSMAlaunchedtheInteroperabilityTestPlatform,thefirstend-to-endlabenvironmentofitskindforindustryparticipantstotestinaninteroperableecosystem.TheMobileMoneyCertificationiscontinuingtoprovideacomprehensiveAML/CFTandfraudriskmanagementandconsumerprotectionframework,withcertifiedprovidersreachingover210millionaccounts.

Inthehumanitariansector,theshiftfromin-kindaidtocashandvoucherassistance(CVA)pickedupspeedashumanitarianassistancehadto

bedeliveredrapidlyandsafelytomorepeoplethaneverbefore.In2020,theGSMAexpandedapartnershipwiththeWorldFoodProgramme(WFP)toimproveCVAforthoseaffectedbycrisis.

With5.2billionmobileusersworldwide,themobileindustryhasthereachandinnovationitwilltaketodeepenfinancialinclusionandbuildmoreequitablesocieties.TheGSMAremainscommittedtoachievingtheUNSustainableDevelopmentGoals(SDGs),andourInnovationFundsarehelpingdigitalpioneersdelivercleanenergysolutions,vitalhealthinformation,life-changingtoolsforfarmersandopportunitiesforwomentoparticipateasequalpartnersinadigitalsociety.

Thisyear’sStateoftheIndustryreportexploreshowthemobilemoneyindustryhasembraceddisruptionandbuiltresilienceoverthepastyear.Thesolutionsthatemergedandthegrowththatoccurreddespitethepandemicareatestamenttotheindustry’sstrongpartnerships.Theserelationshipsenabledmobilemoneyproviderstomovequickly,sustaintheiroperationsandcontributetomorerobustlocaleconomiesandcommunities.

Wearedelightedtosharethe2021StateoftheIndustryReportonMobileMoney,whichispreparedincollaborationwiththemobilemoneyindustry,andproducedwiththegeneroussupportoftheBill&MelindaGatesFoundation.

MatsGranryd

DirectorGeneral,GSMA

Foreword 1

StateoftheIndustryReportonMobileMoney2021

2

StateoftheIndustryReportonMobileMoney2021

Contents

ExecutiveSummary

4

Mobilemoneyin2020andbeyond:embracingdisruptionandbuildingresilience

11

Steadyadoptiononallfronts

14

Activeaccountsand“financialdemarginalisation”

17

Transactionvaluescontinuetogrow

20

COVID-19regulatoryresponsesandpolicyinterventions

24

Maintainingliquidityinacrisis

27

Mobilemoneyin2020andbeyond:adaptingandthrivinginanewmobilemoney

31

landscape

Merchantpayments

32

Bulkpayments

34

Internationalremittances

36

Interoperability

38

TheeffectofCOVID-19onmobilemoneyeconomics

41

Howmobilemoney-enabledadjacentservicescanfosterfinancialresilience

43

Mobilemoneyin2020andbeyond:meetingthesocio-economicchallengesof

53

COVID-19

Adaptingtoanewrealityandredefininghumanitarianassistance

53

Increasingaccesstoessentialutilityservices

56

Expandingwomen’saccesstofinancialservices

61

Boostingfinancialinclusionforsmallholderfarmersthroughagricultural

63

enterprisetools

Conclusion

67

Appendix

68

3

StateoftheIndustryReportonMobileMoney2021

ExecutiveSummary

Inayearofglobalupheaval,mobilemoneyprovidedafinanciallifeline

2020wasayearlikenoother.Ineveryregionoftheworld,COVID-19triggeredamixofresponses,fromschoolandworkplaceclosurestorestrictionsonmovementtocompletelockdown.Allatonce,handlingcash,payingfordailyessentialsandconductingbusinessinpersonbecamerisky,andmorepeoplethaneverturnedtomobilemoneyasasaferoption.

Formobilemoneyproviders,thepandemiccreatedamorecomplexoperatingenvironment.Withconsumerspendingdownandtransactionfees

waived,providersfounditdifficulttoreapthecommercialbenefitsofhighermobilemoneyusageandawidespreadshiftfromcashtodigital.However,theindustryprovedresilientasprovidersdidtheirutmosttokeepeconomiesgoingandprovideanessentialservicetopeopleinneed.

TheStateoftheIndustryreportlooksatwhatthisyearofupheavalhasmeantformobilemoneyproviders,agentnetworksandthemillionsofnewandexistingcustomersthatembracedmobilemoneyin2020asasafeandsecurefinanciallifeline.

Thereportexaminesthemajorindustrytrendsin2020.

Moreaccounts,moreactivity

In2020,thenumberofregisteredaccountsgrewby12.7percentgloballyto1.21billionaccounts–doubletheforecastedgrowthrate.Apartfromchangesinconsumerbehaviour,thisimpressiveuptakewasduetoregulatorsimplementingmoreflexibleKnowYourCustomer(KYC)processesandrelaxingon-boardingrequirementstomakeiteasiertoopenanaccount.Thefastestgrowthwasinregionswheregovernmentsprovidedsignificantpandemicrelieftocitizens.

Accountactivitygrewatanevenfasterrate.Therearenowover300millionmonthlyactivemobilemoneyaccounts.Notonlyarecustomersusingtheiraccountsmorefrequently,buttheyareusingthemfornewandmoreadvancedusecases.Thissuggeststhatmoreandmorepeoplearemovingaway

fromthemarginsoffinancialsystemsandleadingincreasinglydigitallives.

Transactionvaluesalsogrewacrosstheboardasmoremoneycirculatedandwascashed-inandcashed-outthaneverbefore.Forthefirsttime,theglobalvalueofdailytransactionsexceeded$2billiondollars,andisexpectedtosurpass$3billionadaybytheendof2022.

Strongerpartnershipsareacceleratingtheshifttodigital

Tominimisethehumanandfinancialtollofthepandemicandkeepeconomiesafloat,nationalgovernmentsdistributedunprecedentedmonetaryandfiscalsupporttoindividualsandbusinesses.Thevalueofgovernment-to-person(G2P)paymentsquadrupledduringthepandemicasthemobilemoneyindustryworkedhandinhandwithgovernmentsandnon-governmentalorganisations(NGOs)todistributesocialandhumanitarianpaymentsquickly,securelyandefficientlytothoseinneed.Asremoteoperationsbecomemoreimportant,collaborationwithlendersandinsuranceprovidersarealsoexpectedtoincrease.

Agentnetworksareanessentialservice

Agentnetworkshavealwaysbeenacorepartofthemobilemoneyindustry,butduringthepandemictheyprovedcritical.Asdemandrosefornon-physicalpayments,someregulatorsdeclaredmobilemoneyagentsanessentialservice.Throughthepandemic,mobilemoneyprovidersinvestedinkeepingagentnetworksopenandsafebyprovidinghandwashingstationsandpersonalprotectiveequipment(PPE)toagentoutlets.

4 ExecutiveSummary

StateoftheIndustryReportonMobileMoney2021

Internationalremittancesscaledupsignificantly

Internationalremittancesprocessedviamobilemoneyincreasedby65percentin2020.Forthefirsttime,over$1billionisbeingsentandreceivedeverymonth.Despitefearsthatremittanceswoulddeclineaspeoplearoundtheworldsufferedjoblossesandincomecuts,itseemsclearthatdiasporasaroundtheworldcontinuedtousemobilemoneytocometotheaidofthosebackhome.

Merchantpaymentshavetakenaleapforward

Asmoreconsumersbecameuncomfortablehandlingcash,manyturnedtomobilemoneytopurchasefood,clothingandotheressentialproductsandservices.Thisundoubtedlycontributedtoanuptickinmerchantpayments.Thevalueofmobilemoneymerchantpaymentsgrewby43percentcomparedto28percentinthepreviousyear.Onaverage,$2.3billioninmerchantpaymentsweretransactedpermonthin2020,andQRcodesbecamethesecond-mostofferedchannelformerchantpaymentsafterUSSD.

Interoperabilityisbringingmorepeopleintotheformaleconomy

Overthepastfiveyears,thevalueoftransactionsbetweenmobilemoneyplatformsandbanksgrewfourfold,reaching$68billionin2020,upfromjust$15billionin2015.Duringthisperiod,theamountofmoneyflowingbetweenthetwosystems

hasremainedinclosebalance,highlightingthecomplementaryrelationshipbetweenbanksandmobilemoneyservices.

Theregulatorylandscapeisshifting

RegulatoryresponsestoCOVID-19differedsignificantlybetweencountries.InmarketswherestreamlininganddigitisingKYCprocesseshadstalled,thepandemichasgivenfreshurgencytoregulatorychange.Inmanymarkets,transactionlimitswereincreasedtoallowmorefundstoflowthroughmobilemoney,directlyreducingtheneedforday-to-daycashtransactions.Thereportwillalsolookattheimpactoffeewaiversoncorerevenues,which,ifprolonged,couldposeaseverethreattothesustainabilityoftheindustry.

Asalways,theStateofthe

Industryreportisasnapshot

ofayearinthemobile

moneyindustry.Inayearof

unexpectedandsweeping

change,thechallengesand

strategiesweredifferent,but

thefocusremainsthesame:

aninclusivedigital

futureforall.

ExecutiveSummary 5

StateoftheIndustryReportonMobileMoney2021

MOBILEMONEYIN2020

Over

1.2bn

$2bn

processeddaily

registeredmobile

bythemobile

moneyaccounts

moneyindustry

300million17%increase

monthlyactiveaccounts

year-on-year

5.2m

Morethan

uniqueagent

$1bn

outletsglobally

internationalremittances

processedpermonth

310

65%year-on-year

increase

mobilemoney

$500m

deployments

arelivein96countries

digitisedperday

byagentsglobally

6

StateoftheIndustryReportonMobileMoney2021

2020GLOBALOVERVIEW

REGISTERED ACTIVE30-DAY TRANSACTION TRANSACTION REGISTERED ACTIVE

ACCOUNTS ACCOUNTS VOLUME VALUE(US$) AGENTS AGENTS

1.2bn

300m

41bn

767bn

9.1m

4.8m

13%

17%

15%

22%

14%

18%

MONTHLYVALUESNAPSHOT

December2020

12%Digitalin

24%Cash-in

19%Cash-out

33%Circulating

12%Digitalout

$70bn

Dec2020

1%Incominginternationalremittances

6%Bulkdisbursements

5%Bank-to-mobiletransactions

5%Billpayments

4%Mobile-to-bankpayments

1%Airtimetop-up

1%P2Poff-netpayments

<1%Outgoinginternationalremittances

4%Merchantpayments

29%Person-to-persontransfers

7

StateoftheIndustryReportonMobileMoney2021

REGIONALGROWTHIN2020

LIVE REGISTERED ACTIVE TRANSACTION TRANSACTION

SERVICES ACCOUNTS ACCOUNTS VOLUME VALUE(US$)

GLOBAL

310

1.2bn

300m

41.4bn

767bn

13%

17%

15%

22%

EASTASIA

49

243m

52m

5.4bn

111bn

ANDPACIFIC

24%

20%

26%

34%

EUROPEAND

9

21m

4m

234m

4.0bn

CENTRALASIA

6%

11%

15%

13%

LATINAMERICAAND

30

39m

16m

701m

19.8bn

THECARIBBEAN

38%

67%

35%

30%

MIDDLEEASTAND

29

56m

3m

146m

10.5bn

NORTHAFRICA

9%

35%

-63%

26%

SOUTH

36

305m

66m

7.5bn

131bn

ASIA

5%

5%

8%

10%

SUB-SAHARAN

157

548m

159m

27.4bn

490bn

AFRICA

12%

18%

15%

23%

8

StateoftheIndustryReportonMobileMoney2021

AFRICANGROWTHIN2020

LIVE REGISTERED ACTIVE TRANSACTION TRANSACTION

SERVICES ACCOUNTS ACCOUNTS VOLUME VALUE(US$)

AFRICA

171

562m

161m

27.5bn

495bn

12%

18%

15%

23%

WEST

70

198m

47m

6.4bn

178bn

AFRICA

19%

23%

29%

46%

SOUTHERN

14

11m

3m

284m

3.0bn

AFRICA

24%

28%

43%

24%

NORTH

AFRICA

CENTRAL

AFRICA

14 14m 1m 77m 5.4bn

16% 22%29%37%

16

46m

16m

2.2bn

35.7bn

2%

10%

30%

23%

EAST

57

293m

94m

18.6bn

273bn

AFRICA

9%

16%

10%

11%

9

StateoftheIndustryReportonMobileMoney2021

10 Embracingdisruptionandbuildingresilience

StateoftheIndustryReportonMobileMoney2021

Mobilemoneyin2020andbeyond

Embracingdisruptionandbuildingresilience

Thestartofthenewdecadesawtheworldgrindingtoahalt.WhentheCOVID-19pandemictookholdandbeganspreadingacrosstheglobeinearly2020,itquicklybecamemuchmorethanahealthcrisis.Italsocreatedanunprecedentedhuman,economicandsocialcrisisthatrockedsocietiestotheircore.TheGreatLockdownof2020createdtheworstrecessionsincetheGreatDepression,pushingmillionsintopovertyandprecarityasbusinessesclosedandjobswerelost.

Themagnitudeandspeedofthecrisisunderminedglobalfinancialstabilityandbroughteconomiclifetoastandstill,particularlyinlow-andmiddle-incomecountries(LMICs)wheretheinformaleconomydominates.Tocontainthehumanandfinancialtollofthepandemic,nationalgovernmentstookboldsteps,notonlyinjectingfinancingintoadditionalhealthandemergencyservices,butalsodistributingextraordinarylevelsofmonetaryandfiscalsupport.1

ThemostvulnerableandhardesthitbyCOVID-19werethoselivingincircumstancesthatmadesocialdistancingimpossibleoringeographieswherethesesupportswerenotavailable.Eventhosewhocouldbenefitfromgovernmentandhumanitariansupportwerelikelytohavemoredifficultyaccessingit.Lackofaccountownershipataformalfinancialinstitutionwasthegreatestbarrier.Inthiscontext,universalaccesstofinancialservicesbecamemorecriticalthanever.

Thereisampleevidenceofthebenefitsofdigitalfinancialservices,includinggreaterfinancialinclusionandstrongerGDPgrowth.2InLMICs,mobilemoneyisfarmoreaccessiblethananyothertypeofdigitalfinancialservice(includingapp-basedplatforms),particularlyoutsideurbancentres.With310liveservicesin96countries,mobilemoneyisnowavailableinmostmarketswhereaccesstofinancialservicesislow(seeFigure1).

Mobilemoneyprovidersalsohavetwonoteworthyadvantagesoverotherdigitalfinancialservices:excellentknowledgeoflocalmarketsandstrongpartnershipsandcollaborationswithfintechs,banks,governmentsandotherkeystakeholders.Thesecapabilitiesandassetsputtheminastrongpositiontoweatherthestormandbuildresilienceintolocaleconomiesandsocieties.Asaresult,inmanymarkets,mobilemoneyprovidersbecameanintegralpartofthenationalCOVID-19responseandprovidedacriticalpathtodeliveringfinancialassistancequickly,safelyandefficiently.

$11.5trillioninfiscalactionsandabout$7.5trillioninmonetaryactionsasofSeptember2020ingeographieswhereconditionsandbudgetallowed.See:

/external/pubs/ft/ar/2020/eng/downloads/imf-annual-report-2020.pdf

Sahay,R.,etal.(2020).

ThePromiseofFinTech:FinancialInclusioninthePost-COVID-19Era

.InternationalMonetaryFund(IMF).

Embracingdisruptionandbuildingresilience 11

StateoftheIndustryReportonMobileMoney2021

Figure1

Numberofmobilemoneyservicespercountry,20203,4

310services

in96countries

1service 2services 3services 4services 5ormore

services

Fromtheonsetofthepandemic,mobilemoneyprovidersactedurgentlytomoderatethedamagetocitizens,governmentsandbusinesses.Whilesomewereshort-termmeasures,manylaidafoundationforfuturegrowthandafastertransitionfromcashtodigitalpayments.Thissectionhighlightsglobal

industrytrendsduringthepandemic,includingregulatoryandpolicyresponsestoCOVID-19,aswellasimportantregionalvariations.Weunpackhowtheindustryembracedthedisruptionandbecamemoreresilient,includingscalingupmobilemoneyadoptionanduse.

GSMAMobileMoneyDeploymentTracker:/mobilemoneymetrics/

Note:thenumberofservicesavailableinacountryshouldnotbeseenorusedasaproxyformobilemoneypenetrationofthepopulation.

12 Embracingdisruptionandbuildingresilience

StateoftheIndustryReportonMobileMoney2021

Embracingdisruptionandbuildingresilience 13

StateoftheIndustryReportonMobileMoney2021

Steadyadoptiononallfronts

Despitethechallengesanddisruptionsitcaused,COVID-19triggeredawidespreadshiftintheadoptionofdigitaltools.Allatonce,morepeoplewereusingmobileservicesoutofnecessity.Restrictionsonmovementandthepotentialrisksofhandlingcashledconsumerstoquicklyturntodigitalpaymentsasasaferandmoreaccessibleoption.

In2020,thenumberofregisteredmobilemoneyaccountsgrewby12.7percentglobally,withover136millionaddedinjustoneyear.Thisgrowthwastwiceashighasexpectedandexceededlastyear’sforecastby6.4percentagepoints–takingthetotalnumberofregisteredaccountsgloballyto1.21billion.Apartfromachangeinconsumerbehaviour,thisimpressiveuptakewasalsoduetoregulatorsimplementingmoreflexibleKnowYourCustomer(KYC)processesandrelaxedon-boardingrequirements.

Aspredictedinlastyear’sStateoftheIndustryreport,registeredaccountsinAfricacomfortablysurpassedthehalfbillionmark.Sub-SaharanAfricahasbeenattheforefrontofthemobilemoneyindustryforoveradecade,andin2020continuedtoaccountforthemajorityofgrowth(43percentofallnewaccounts)(seeFigure2).Bytheendoftheyear,therewere548millionregisteredaccountsintheregion,over150millionofwhichwereactiveonamonthlybasis.AlthoughabsolutegrowthwashighestinWestandEastAfrica,SouthernAfricagrewthefastestat24percentyearonyear.

Figure2

Netadditionstoregisteredaccounts

34%

18%

<1%

2%

Additions

Additionsby

43%

Sub-Saharan

byregion

Africanregion

1%

22%

8%

3%

11%

Sub-Saharan

South

MiddleEastand

East

Central

Africa

Asia

NorthAfrica

Africa

Africa

LatinAmerica

Europeand

EastAsia

Southern

West

andthe

CentralAsia

andPacific

Africa

Africa

Caribbean

14 Embracingdisruptionandbuildingresilience

StateoftheIndustryReportonMobileMoney2021

EastAsiaandPacificalsoexperiencedsignificantgrowth,contributingto34percentofallnewaccounts,thankstostronggrowthinSoutheastAsiainparticular.Morethanhalfoftheservicesintheregionnowhaveoveronemillionregisteredaccounts.InSouthAsia,registeredaccountsgrewbyfivepercenttosurpass300millionregisteredmobilemoneyaccountsforthefirsttime.ThismeansthatoneinfourregisteredmobilemoneyaccountsgloballyarenowinSouthAsia.

TheMiddleEastandNorthAfricasawthelargestadditioninregisteredaccountsinabsolutetermsoverthelastfiveyears.Thisistheresultofbothnewandrenewedeffortsbyindustryplayersacrosstheregion.

Finally,LatinAmericaandtheCaribbeanhadthefastestgrowthofanyregionforregistered(38percent)andactiveaccounts(67percent).Thiswasdriveninpartbysignificantgovernmentsupportinthewakeofthepandemic,withmillionsofpeoplereceivingrelieffundsviamobilemoney.

Embracingdisruptionandbuildingresilience 15

StateoftheIndustryReportonMobileMoney2021

MOBILEMONEYHIGHLIGHTSIN2020

While2020sawunparalleledchallengesbroughtonbytheCOVID-19pandemic,themobilemoneyindustrywitnessedstrongeffortsinstrivingtowardscashlesssocieties,enteringstrategicpartnershipstoexpandthehorizonsofdigitalpaymentsanddevelopingnewandrobustinteroperablepaymentsystems.

MARCH APRIL JULY

NATIONAL

STRATEGIC

INCREASED

COMMITMENT

INTEROPERABILITY

PARTNERSHIP

GhanabecomesthefirstAfrican

GSMAlaunchestheMobileMoney

VodacomandSafaricomacquire

countrytolaunchauniversal

InteroperabilityTestPlatform

theM-Pesabrand,itsproduct

QRcodeenablingallGhanaians

empoweringboththird-party

developmentandsupport

tomakeinstantmerchant

serviceprovidersanddigital

servicesfromVodafone,offering

paymentsfromtheirmobile

financialserviceproviderstotest

opportunitiestoexpandM-Pesa

moneywallets,bankaccountsor

theirsoftwareimplementationin

intonewAfricanmarkets.

internationalcards.

anend-to-endecosystem.

JULY

JULY

INCREASED

INTEROPERABILITY

Interoperabilityplatform,

GIMACPAY,launchesin

CEMACcountriestofacilitate

interoperablemobilemoneyand

bankingpaymentsfortheCEMAC

population.

PRODUCT

EXPANSION

OrangeandNSIAcombine

expertisetolaunchOrangeBank

Africaandprovidegreateraccess

tofinancialservicesandincrease

financialinclusioninWestAfrica.

AUGUST OCTOBER OCTOBER

INTERNATIONAL

NATIONAL

PRODUCTEXPANSION

REMITTANCES

COMMITMENT

Safaricomintroducesanew

AirtelAfricaentersastrategic

ThePhilippineslauncha$575

M-pesafeature,‘Pochila

partnershipwithMoneyGram

Biashara’,targetedatsmall

millionprojecttoprovide

enablingAirtelMoneycustomers

businessownersallowingthemto

thepopulationwithnational

toreceiveMoneyGramtransfers

separatebusinessandpersonal

identificationcardsinefforts

directlyintotheirmobilewallets

funds,monitortransactionsmore

toboostfinancialinclusionand

fromover200countriesacross

efficientlyandsomakebetter

expandthedigitaleconomy.

theworld.

businessdecisions.

DECEMBER

NOVEMBER

INTERNATIONAL

REMITTANCES

INVESTMENT

PayPal’smoneytransferservice,

Grabinvests$100millionin

Xoom,launchesinternational

LinkAjatostrengthenitsfinancial

remittancepaymentsfromusers

servicesandacceleratefinancial

intheUK,USA,Canadaand

inclusioninIndonesia.

Europetomobilemoneywallets

acrosskeymarketsinAfrica.

16 Embracingdisruptionandbuildingresilience

StateoftheIndustryReportonMobileMoney2021

Activeaccountsand“financialdemarginalisation”

In2020,themobilemoneyindustryreachedanothermajormilestone:thenumberofmonthlyactivemobilemoneyaccountstopped300million,havinggrownatarateof17percentyearonyear.5Inthisyear’sStateoftheIndustryreport,weareshiftingawayfrommeasuringaccountactivityona90-daybasistoinsteadmeasureitonamonthlybasis(or

30-day),inlinewithbothbehaviouralchangesinusageandthewiderfintechindustry.6

Whileittooknearlyadecadeforthemobileindustrytoreachitsfirst100millionmonthlyactiveaccounts,ithastakenjustoverfiveyearstoreachanother200million(seeFigure3).

Figure3

Growthofmonthlyactiveaccounts

(2006–2020)

350m

300m

Monthlyactive

300m

mobilemoney

250m

200m

accountstopped

200m

300m

in2020

150m

100m

100m

50m

March

March

September

December

2006

2016

2018

2020

10

2¾

2½

years

years

years

90-dayactivityisalegacyofSIMcardactivityanddoesnotadequatelycapturemorerecentmobilemoneyusage.

App-basedfintechsolutionsprimarilymeasureactivitybythenumberofmonthlyactiveusers(MAUs)

Embracingdisruptionandbuildingresilience 17

StateoftheIndustryReportonMobileMoney2021

ByDecember2020,64mobilemoneyproviders–roughlyoneinfive–hadoveronemillionmonthlyactiveaccounts.Thisisupfrom30providersin2016(seefigure4).

Thisstrongandsteadygrowthsuggeststhatcustomersareusingmobilemoneyinmoreadvancedwaysandinallaspectsofdailylife.Thismarksachangefromtheearlydaysofmobilemoney