Mobile Money: How Do Emerging Markets Compare?
In the last two decades, mobile money services have become a driving force for financial inclusion for billions of people as well as creating tremendous opportunities for small businesses and entrepreneurs; particularly within emerging markets, where there are few institutions and/or legal infrastructures to support unbanked populations' access to financing.
A mobile money account can be opened by anyone with a mobile phone, providing an effective banking gateway for those without a bank account but who own a mobile phone. For the unbanked, mobile money solutions provide affordable, instant, and reliable access to transactions, savings, and credit. Rather than having to sign up at formal bank branches, which can pose difficulties, customers are able to deposit and withdraw funds from their mobile money wallets using a network of agents, such as airtime shops or retail outlets. In exchange for converting cash into electronic value, these retailers receive a small commission. As a result of the agent distribution network, lower-income individuals are also able to access financial services universally and without incurring travel expenses.
Essentially, mobile money provides greater accessibility than formal banking institutions, due to the extensive network of agents and more relaxed requirements for opening an account. It is particularly beneficial to the poor and those who live in rural areas since it enables them to establish a formal credit rating, which can then be used to obtain additional financial services. Additionally, mobile financial services are frequently designed to increase financial inclusion in emerging markets, which has been hampered by barriers to credit. The use of mobile money services is itself a financial inclusion indicator, however by recording each transaction mobile money services also help to increase transparency and traceability, thereby promoting efficiency, building credibility and trust in the formal financial system.
As the concept is based on mobile network operators providing MFS via mobile phones, these services can be as simple as domestic money transfers, or they can be more complex microfinance services that require risk assessment, such as loans and insurance. As a result of the use of mobile handsets for provisioning service, telcos and fintech solution providers are able to adopt a quasi-bank business model to serve underbanked and unbanked populations.
Source: Mobile Money in Emerging Markets 2024-2029
Download the Whitepaper: The Future of Mobile Money ~ The Shift to Advanced Services
Latest research, whitepapers & press releases
-
ReportJune 2026Telecoms & ConnectivityDirect to Cell Market: 2026-2031Our newest Direct-to-Cell research provides market stakeholders, such as mobile network operators and satellite network operators, with key analysis of the future of this rapidly emerging market.
VIEW -
ReportMay 2026Telecoms & Connectivity6G Market: 2026-2035Juniper Research’s 6G Market research suite provides detailed analysis and strategic recommendations for mobile network operators developing their 6G roadmaps in the build up to its standardisation and launch.
VIEW -
ReportMay 2026Fintech & PaymentsDigital Identity Verification Market: 2026-2030Our Digital Identity Verification research suite provides detailed analysis of this rapidly changing market; allowing digital identity verification solution providers, financial institutions, and other stakeholders to gain an understanding of key trends and growth opportunities.
VIEW -
ReportApril 2026Fintech & PaymentsStablecoins Market: 2026-2035Our Stablecoins market research suite provides detailed and insightful analysis of this evolving market; enabling stakeholders such as central banks, commercial banks, stablecoin issuers, and payment service providers to understand future growth, key trends, and the competitive environment.
VIEW -
ReportApril 2026IoT & Emerging TechnologyPhysical AI in Manufacturing & Logistics Market: 2026-2030Our Physical AI in Manufacturing and Logistics research suite provides in-depth analysis of the key economic, operational, and technological factors driving growth in this fast-growing market.
VIEW -
ReportApril 2026Fintech & PaymentsAgentic Commerce Market: 2026-2031Juniper Research’s Agentic Commerce research suite provides an insightful analysis of this rapidly emerging market; enabling stakeholders, including AI developers, payment infrastructure providers, eCommerce marketplaces, merchants and many others, to understand future growth, key trends, and the competitive environment.
VIEW
-
WhitepaperJune 2026Telecoms & ConnectivityNo Tower? No Problem: How Direct to Cell is Rewriting the Rules of Connectivity
Our complimentary whitepaper explores consumer demand for direct to cell services and provides strategic recommendations for how MNOs can optimise these services.
VIEW -
WhitepaperMay 2026Telecoms & ConnectivityLearning from 5G - How MNOs Can Make 6G a Success
Our complimentary whitepaper, Learning from 5G - How MNOs Can Make 6G a Success, explores the lessons that mobile network operators can learn from the development and commercialisation of 5G and apply to 6G.
VIEW -
WhitepaperMay 2026Fintech & PaymentsDigital Identity Verification in an Era of AI, Fraud & Regulatory Change
This complimentary whitepaper examines the state of the digital identity verification market: considering the impact of regulatory developments, emerging risk tactics, and how identity verification is evolving beyond traditional customer and merchant onboarding.
VIEW -
WhitepaperApril 2026Fintech & PaymentsPayment Rails Without Borders: The Rise of Stablecoins
Our complimentary whitepaper, Payment Rails Without Borders: The Rise of Stablecoins, analyses the history of stablecoin from its inception to the current day. It also provides insight into key trends shaping the stablecoin market, and an evaluation of stablecoins versus traditional payment rails.
VIEW -
WhitepaperApril 2026IoT & Emerging TechnologyKey Growth Opportunities for Physical AI in 2026
Our complimentary whitepaper, Key Growth Opportunities for Physical AI in 2026, provides insight into the rapidly evolving physical AI in manufacturing and logistics market; highlighting the countries in which high demand for automation in these industries is anticipated over the next five years.
VIEW -
WhitepaperApril 2026Fintech & PaymentsAgentic Commerce - Revolution or False Dawn?
Our complimentary whitepaper assesses the trends that are increasing agentic commerce adoption, and challenges to agentic commerce usage. Additionally, it includes a forecast summary of the global spend on agentic commerce by 2030.
VIEW
-
Telecoms & Connectivity
Direct to Cell: Monthly Active Users to Reach Over 130 Million by 2031, But Usage Forecast to Be Lower Than Anticipated
June 2026 -
Fintech & Payments
Merchant Payments: a $100 Trillion Opportunity for Providers, but Global Complexity & Friendly Fraud Creates Challenges
May 2026 -
Fintech & Payments
Calling All Digital Identity & Cybersecurity Innovators: Future Digital Awards Now Open for 2026
May 2026 -
Telecoms & Connectivity
Juniper Research Predicts the US and South Korea Will Lead 6G Launches in 2029
May 2026 -
Fintech & Payments
Cross-border Payment Transactions to Hit $63 Trillion by 2030 Globally, as Cross-border eCommerce Scales Rapidly
May 2026 -
Fintech & Payments
Corporate Cards: 66 Million Cards in Use Globally by 2030, with Adoption Rising Among Microbusinesses
May 2026