How big is the Mobile Money Market | Digital Payments Industry, Size & Forecast Report 2025

Q: How big is the mobile money market size?

The mobile money market is projected to reach USD 59 trillion by 2031.

Q: What is the CAGR of the mobile money market?

The mobile money market is projected to grow at a CAGR of 11.50% from 2025 to 2031.

Q: Which services are provided by mobile money platforms?

Money transfers, bill payment, savings, loans, airtime top-ups, and merchant payments are among the services offered.

Q: Which technologies are employed by mobile money systems?

These technologies include blockchain, biometric verification, NFC, QR codes, USSD, and AI fraud detection.

Q: Which geographical areas are fueling the expansion of mobile money?

Due to their mobile-first economies and unbanked populations, Africa, South Asia, and Southeast Asia are experiencing the highest adoption rates.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA7561

Publication Date: Aug 2025

How big is the mobile money market?

According to 6Wresearch internal database and industry insights, the Global Mobile Money Market was valued at USD 14.5 Billion in 2024 and is expected to reach USD 59 Billion by 2031, growing at a compound annual growth rate of 11.50% during the forecast period (2025-2031).

This growth is driven by increasing smartphone usage and the expansion of mobile banking infrastructure. Additionally, due to strategic alliances between banks, fintech firms, and telecom providers, mobile money services are expanding in popularity, especially in under-banked areas.

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Growth Factors for Mobile Money Market

The use of mobile wallets and money transfers is being driven by the rapid digital transformation occurring in emerging markets.
Government efforts to promote financial inclusion have led to an increase in the number of users on mobile money platforms.
Increased adoption of P2P and merchant payments through mobile platforms.
Growing mobile broadband penetration is making mobile financial services more accessible.
Fintech partnerships with telecom operators are creating seamless user experiences.
User trust in mobile transactions is increasing due to security features like biometric authentication.

Mobile Money Market Trends

The Mobile Money Market is witnessing strong growth in contactless payments and QR code-based transactions. Mobile apps for cross-border remittances are becoming more popular, especially in Southeast Asia and Sub-Saharan Africa. Digital microloans and savings products are becoming widely available through mobile platforms. App-based gamification and loyalty incentives are increasing user engagement. Additionally, mobile money services are being incorporated into government subsidy disbursements, agriculture, and eCommerce. The integration of mobile money with blockchain and biometric authentication technologies is further enhancing transaction security and expanding financial inclusion.

Emerging Developments in the Mobile Money Market

Emerging developments in the Mobile Money Market include AI-powered fraud detection and analytics are being implemented to enhance transaction security. Research is being done on using blockchain technology to speed up international mobile payments. Central banks in developing countries are supporting regulatory frameworks for interoperability of mobile money. The incorporation of digital identity verification systems is making onboarding safer and more efficient. Additionally, telecom operators and fintech startups are increasingly collaborating to offer services that combine mobile connectivity with financial products, accelerating mobile money adoption.