According to the global telecom industry body GSMA, the mobile money services are growing in popularity worldwide. The number of mobile money services has increased from 178 in 74 countries in January 2013 to 208 in 83 countries in October 2013.
Over the coming few months, countries across the world will witness additional deployment of 117 mobile money services. The widescale deployment of mobile money services indicate that the services are achieving scale and are becoming an essential platform for providing financial services to the underserved in a convenient and affordable manner.
Globally, mobile money services were launched in nine markets in 2013, with majority of these markets already having mobile money services. .
Currently, more than one or two mobile money services are deployed in 51 markets as compared to 40 markets at the end of 2012 and 33 at the end of 2011. Further, out of the 51 markets, 24 have three or more mobile money services being provides, which offers great choice to consumers. Mobile money is also becoming a mainstream service for the operators rather than a differentiator. This is particularly so in Sub-Saharan Africa, which supports 53 per cent of all live mobile money services. Out of the 47 countries in the region, 36 countries support mobile money services.
