GSMA, which unites more than 750 telecom operators and almost 400 other companies in the mobile and related industries, has presented an annual report on the state of the mobile payment systems market.
According to the drafters of the report, mobile payments are having an ever-increasing impact on people’s lives and the economy, especially in emerging markets. According to GSMA estimates, an important mark was reached last year – the number of accounts in mobile payment systems exceeded one billion. Last year, the industry processed $ 2 billion in mobile payments daily.
In 95 countries of the world, there are 290 services that allow using advanced technological achievements for payment. For consumers, this means a shift from the use of cash to international transfers, savings, tuition fees, utilities, loans, purchases, and much more in digital form. For the first time, digital transactions in 2019 accounted for more than half (57%) of operations in mobile payment systems. Previously, most transactions were cash deposits and withdrawals.