Mobile money transactions worldwide have crossed the $2 trillion mark in 2025, highlighting a sharp acceleration in digital financial services and a growing shift towards everyday usage beyond basic peer-to-peer transfers, according to a new report.
The GSMA State of the Industry Report on Mobile Money 2026 said more than $2.1 trillion flowed through mobile money platforms in 2025 alone. The sector has now doubled in transaction value in just four years, having taken nearly two decades to reach its first trillion dollars.
The report underlined that the growth is being driven not only by new users entering the system but also by deeper and more frequent usage among existing customers.
“Active 30-day accounts rose by 15% to 593 million in 2025,” the report noted, adding that global monthly activity levels have reached their highest point in recent years.
The total number of registered mobile money accounts also expanded significantly, reaching 2.3 billion globally. This marked the largest annual increase in absolute terms, reflecting continued expansion across emerging and developing markets.
A key trend identified in the report is the rapid rise of merchant payments, which have become the fastest-growing use case within the mobile money ecosystem. Merchant transactions surged 42% to $155 billion, indicating a shift away from purely peer-to-peer transfers towards broader commercial and retail usage.
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The report also highlighted increasing integration between mobile wallets and formal banking systems. Bank-to-mobile transfers stood at $167 billion, while mobile-to-bank transfers reached $163 billion, signalling growing interoperability and a gradual decline in cash-based transactions.
Beyond payments, mobile money platforms are also diversifying their offerings. Savings and insurance services recorded the fastest growth in 2025, with providers increasingly focusing on broader financial well-being rather than just transaction services.
Profitability across the sector has also improved, with nearly 80 per cent of surveyed mobile money providers reporting profits in 2025. This growth has been supported by rising transaction volumes, expanding service portfolios and stronger revenue diversification.
However, the report cautioned that structural challenges persist. Regulatory hurdles in several markets continue to slow expansion, while rising fraud risks pose operational concerns for providers.
It also flagged a persistent gender gap in mobile money account ownership across multiple countries, calling for targeted policy measures to ensure more inclusive access to digital financial services.
The GSMA noted that mobile money continues to play a crucial role in advancing financial inclusion, particularly in low- and middle-income countries, where it often serves as the primary financial tool for millions of users.
As digital ecosystems expand, the report said mobile money is evolving into a broader financial infrastructure layer, reshaping how individuals and businesses transact, save and access financial services globally.
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