GSMA says Mobile Money hits USD $2 trillion in 2025

Mobile money transactions exceeded USD $2 trillion in 2025, according to GSMA, doubling from the USD $1 trillion level reached four years earlier.

Registered accounts rose by 268 million to 2.3 billion, while 30-day active accounts increased 15% to 593 million. Monthly usage reached 25.7%, the highest level since 2021.

The figures indicate continued expansion in a service that has become a common financial tool in many markets with limited access to conventional banking. Most new registered and active accounts came from Sub-Saharan Africa, though nearly every region where mobile money is available recorded growth.

Transaction values have risen faster than volumes, suggesting users are moving more money through their wallets as adoption matures. GSMA noted that it took 20 years for annual mobile money transaction values to surpass USD $1 trillion, but only four years for that figure to double.

Growth in regular use is also drawing attention because inactive accounts remain widespread. Despite the increase in 30-day active accounts, almost 75% of registered accounts were still inactive every month.

GSMA linked some of that inactivity to fraud and transaction taxes in some countries, which can push users back towards cash. It argued that these pressures continue to weigh on financial inclusion even as account numbers rise.

Adjacent services

More frequent mobile money use can improve financial health by helping people manage daily expenses, absorb financial shocks and plan, the report said. It also found that the spread of additional services through mobile money platforms is widening the role these accounts play for consumers.

The number of mobile money providers offering insurance increased by one-third in 2025. Credit remained the most widely available additional financial service, with savings products close behind.

That mix suggests providers are trying to deepen customer relationships beyond transfers and payments. For users in underserved markets, these products can provide access to financial tools that might otherwise be difficult to obtain through the traditional banking system.

Regulatory role

Regulation was identified as a major factor in the sector's development. More than 60% of mobile money providers said interoperability, know-your-customer and consumer protection rules had supported their operations.

At the same time, providers highlighted continuing obstacles. Cross-border data transfer rules were cited as a barrier by 24% of those surveyed.

GSMA said supportive policy frameworks could help the industry extend services further, particularly for groups that have historically had less access to formal finance. It also pointed to persistent gaps in account ownership and use among women.

A gender gap in mobile money account ownership persists in seven out of 10 countries surveyed. Apart from Ghana, Kenya and Nigeria, women who have a mobile money account are still less likely than men to have used it in the previous month.

Wider use

Beyond retail payments and transfers, mobile money is increasingly being used for crisis response and humanitarian payments, especially in remote areas. The report added that such uses depend not only on access to mobile money itself but also on digital financial literacy if growth is to remain responsible across regions and demographic groups.

Vivek Badrinath, Director General, GSMA, said: "Mobile money has become one of the world's most impactful financial services. 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. The market is reaching new heights and greater maturity. Adoption and regular use are surging, and value is scaling even faster than volume, with more than $2 trillion flowing through mobile money in 2025 - doubling from the first trillion in just four years.

"Looking ahead, the industry's growing scale and sophistication will bring new opportunities and new responsibilities. By prioritising interoperability and cross‐border harmonisation, engaging in digital public infrastructure, strengthening consumer protection and fraud controls, and accelerating women's inclusion and financial health outcomes, we can ensure mobile money continues to provide safe, inclusive and sustainable digital financial services," said Badrinath.