Mobile money is taking the world by storm. This Youtap Solution Paper outlines several innovations in the industry and why mobile money is set to grow exponentially in emerging markets.
Mobile money has been so successful in emerging economies that in 19 markets there are more mobile money accounts than there are bank accounts. Mobile money services are now available in 93 countries, providing the unbanked with a secure and affordable way to deposit and withdraw funds. Studies from the GSMA and McKinsey have documented this expansion, but several new developments are creating huge opportunities for growth.