More than $2 trillion flowed through mobile money wallets globally in 2025, found the State of the Industry Report on Mobile Money 2026, prepared by the GSMA Mobile Money programme.

This is an important threshold and exemplifies the exponential growth in transaction values the industry has experienced in recent years. It took 20 years to pass $1 trillion in annual transaction values, but just four years for this figure to double.

From its inception, only 25 years ago, mobile money has now become a mainstream financial service for underserved populations around the world, empowering those without access to traditional banking services and contributing to economic growth in countries where mobile money is present. The report also found that mobile money reached 2.3 billion registered accounts in 2025, growing by 268 million.

Vivek Badrinath, GSMA Director General, comments: “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.”

Regular mobile money usage is growing, supporting financial health  

Regular mobile money usage has increased worldwide over the past year, with active 30-day accounts rising by 15% to 593 million. Most new registered and active accounts came from Sub-Saharan Africa, although almost every region where mobile money is offered experienced a rise.

This has led to monthly usage of mobile money accounts growing by half a percentage point to 25.7%, the highest it has been since 2021. However, this still leaves almost 75% of accounts inactive monthly, with fraud remaining widespread and transaction taxes often encouraging users to revert to cash in the countries where they’re in effect, negatively impacting financial inclusion.

Through more frequent usage, mobile money users can improve their financial health – the capacity to manage day-to-day financial needs, withstand shocks and invest in the future – by benefiting from the increasing provision of adjacent services like credit, savings and insurance.

The report found that the number of mobile money providers offering insurance increased by one-third in 2025. Mobile-money enabled credit remains the most widely offered adjacent financial service, and this is nearly matched by those offering saving options.

Regulation is supporting mobile money in improving financial inclusion 

Regulation is playing a key role in expanding the reach of mobile money, the GSMA reports. Over 60% of mobile money providers believe that interoperability, know-your-customer and consumer protection regulations have supported their operations.

Although more must be done to support the industry, significant regulatory issues remain – particularly cross-border data transfer regulations, which 24% of mobile money providers report have hindered their operations.

With a supportive regulatory environment, the mobile money industry will be able to continue growing and, in turn, advance financial inclusion, especially among groups that have traditionally lacked access to banking services.

This is vital as a wide gender gap persists in mobile money account ownership across seven out of 10 countries surveyed in the report.  Aside from in Ghana, Kenya and Nigeria, women who own a mobile money account are still less likely than men to have used it within the past month.

Mobile money fosters innovation for good   

In addition to accelerating financial inclusion and supporting improved financial health, mobile money usage is enabling wider social and humanitarian benefits by enabling rapid payouts during crises, particularly in remote regions. However, for these and other use cases to succeed, mobile money needs to be complemented by digital financial literacy initiatives to continue responsible growth across regions and demographics.

MoneyMaster Payment Service Bank has introduced a refreshed mobile banking experience designed to make purchasing airtime and data more convenient and straightforward for customers.

As part of the rollout, customers will enjoy added value on their transactions. Airtime purchases on the Glo network come with a 100 percent bonus, while data purchases attract a 10 percent bonus, giving users amazing rewards on each purchase.

With this revamp, the app is now much easier to use, especially for airtime purchases. From selecting accounts to choosing amounts, the process is more seamless, with clearer options and fewer steps. Data plans are now neatly organized into categories such as daily, weekly, and monthly, making it easier for users to find what they need without endless scrolling.

Beyond the improved layout, customers now have more flexibility in how they recharge. Lower airtime denominations have been introduced, giving users the freedom to choose amounts that better suit their needs, while navigation has been adjusted to be quicker and more intuitive.

Speaking on the update, the bank’s Head of Business, Tajudeen Omokhide, explained that the goal is to make payments as simple and seamless as possible. According to him, customers expect speed, clarity, and affordability, and these improvements are part of the bank’s ongoing effort to meet those expectations. He also encouraged both existing and new users to get the latest version of the app.

These updates are a testament to MoneyMaster’s broader mission of developing practical, relevant products for everyday life. Promoted by Globacom and licensed by the Central Bank of Nigeria, the bank offers mobile wallets, savings accounts, individual current accounts, and business banking services.

MoneyMaster continues to position itself as a flexible, customer-centric platform, enabling over 4,000 individual and business billers to manage payments, access financial services, and stay connected with ease.

Nigeria and Finland have signed a Memorandum of Understanding (MoU) on digitalisation and innovation, prioritising stronger cybersecurity cooperation amid a surge in cyberattacks targeting Nigerian institutions.

The agreement was formalised in Abuja on Monday between Dr Bosun Tijani, Nigeria’s minister of communications, innovation and digital economy, and Jarno Syrjälä, Finland’s under-secretary of state for international trade.

The MoU focuses on cooperation in digital governance, technology infrastructure, and cybersecurity to drive economic growth and improve public services, says a statement issued on Monday by Isime Esene, special assistant to the minister.

The agreement is a significant step in strengthening bilateral relations and advancing Nigeria’s digital economy agenda, says Tijani.

He notes the MoU builds on engagements in Helsinki in February, which centred on Nigeria’s Data Exchange Platform and Finnish participation in Project BRIDGE (Building Resilient Infrastructure for Digital Growth and Empowerment).

The talks also involved key Finnish finance institutions, including Finnvera and Finnfund.

The partnership is expected to unlock new opportunities for innovation and investment, positioning digital technology as a catalyst for shared prosperity, says Tijani.

Finland is committed to supporting the development of resilient, secure, and human-centric digital systems in Nigeria, says Syrjälä. He adds that digitalisation should enhance public trust and empower citizens, noting that Nigeria remains a strategic partner for Finland in Africa.

The agreement complements Finland’s lead role in a €23 million Team Europe Initiative aimed at strengthening Nigeria’s digital public services.

This programme is implemented by Finland’s development agency, HAUS, in collaboration with Estonia’s ESTDEV, and supports the 3 Million Technical Talent (3MTT) programme.

The deal comes as Nigerian organisations record the highest number of cyberattacks in Africa. In January 2026, organisations experienced an average of 4 701 attacks per week, a 12% year-on-year increase, according to Check Point Research.

In response, authorities are developing the 2026 National Cybersecurity Policy and Strategy update.

Expected later this year, the framework will mandate minimum cybersecurity investment requirements for organisations operating critical national information infrastructure, notes the ministry.