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Mobile Money in Emerging Markets 2026-2030: Full Research Suite

Publisher Juniper Research
Published Feb 02, 2026
Length 189 Pages
SKU # JNRH20821121

Description

Our Mobile Money in Emerging Markets research report provides detailed evaluation and analysis of the ways in which the mobile financial services space is evolving and developing. The research also considers future trends and challenges within the mobile money market, such as the shift to advanced services and the expansion of merchant payments.

In addition, the report contains two Juniper Research Competitor Leaderboards; giving readers a comprehensive understanding of the competitive dynamics in this space. The Competitor Leaderboards position 20 mobile money services and 16 mobile money technology platform providers; delivering an invaluable resource for stakeholders seeking to understand the competitive landscape in the mobile money market on both a consumer-facing and B2B basis.

The research suite contains a detailed dataset; providing forecasts for mobile financial services use across a wide range of different metrics. This includes the total users and transactions made via mobile money services, the amount lent to users of microcredit, and the total monetary spend and deposits for mobile money services in mobile money.

KEY FEATURES

Market Dynamics: strategic analysis of the major drivers, challenges, and innovations shaping the adoption and development of the mobile money industry. This includes the shift from offering basic services to more advanced services and digital payments, the rise of the super app business model, and the use of AI to enable new capabilities within mobile wallets.
Key Takeaways & Strategic Recommendations: in-depth analysis of key development opportunities and findings within the mobile money market, accompanied by strategic recommendations for stakeholders, such as mobile money service providers and platform providers.
Benchmark Industry Forecasts: includes forecasts for the total users of, and spend via, mobile money platforms, split by different segments and transaction types. This data is split by 4 key forecast regions and 15 countries.
Juniper Research Competitor Leaderboards: key player capability and capacity assessment for 20 mobile money services and 16 mobile money technology platform providers, via two Juniper Research Competitor Leaderboards.

Please note: the online download version of this report is for a global site license.

Table of Contents

189 Pages
MARKET TRENDS & STRATEGIES
1. Key Takeaways & Strategic Recommendations
1.1 Key Takeaways
1.2 Strategic Recommendations for Mobile Money Services
1.3 Strategic Recommendations for Mobile Money Platform Providers
2. Current Status of the Mobile Money Market & Future Outlook
2.1 Introduction to Mobile Money
Figure 2.1: Unbanked Adult Population (m), Split by 8 Key Regions, 2025
2.2 Definitions Within Mobile Money
2.2.1 The Context
2.2.2 The Drivers
Figure 2.2: Unbanked Adult Population (%), Split by 8 Key Regions, 2025
2.2.3 The Key Pillars of Mobile Money
2.2.4 The Challenges
3. Segment Analysis
3.1.1 Mobile Money Transfer
i. Domestic
ii. Cross-border
3.1.2 Mobile Microloans
3.1.3 Mobile Microinsurance
Table 3.1: Customers Using Mobile Money to Pay for an Insurance Product, (%), Split by Country, 2023-2024
3.1.4 Mobile Microsavings
3.1.5 Merchant Payments (Both In-store and Online)
i. In-store Merchant Payments
ii. Online Merchant Payments
3.2 Status of the Mobile Money Market
3.2.1 Mobile Money Transfer
i. Introduction
ii. SWOT Analysis
iii. Outlook
3.2.2 Mobile Microloans
i. Introduction
ii. SWOT Analysis
iii. Outlook
3.2.3 Mobile Microinsurance
i. Introduction
ii. Outlook
3.2.4 Mobile Microsavings
i. Introduction
ii. SWOT Analysis
iii. Outlook
3.2.5 Merchant Payments
i. Introduction
ii. SWOT Analysis
iii. Outlook
3.2.6 Key Relationships
i. Banks
ii. Regulators
iii. Agent Networks
iv. Merchant Networks
v. Remittance Partners
vi. Platform Providers
4. Key Trends & Drivers
4.1 Key Trends & Drivers for Mobile Money Vendors
4.1.1 Superapps Are a Natural Evolution
Figure 4.1: Smartphone Penetration (%), Across 4 Emerging Regions, 2013/2025/2030
Figure 4.2: UI and UX Advancements in Mobile Money Services
4.1.2 The Convergence: Blockchain and Mobile Money
Figure 4.3: Ethereum Total Value Locked (TVL) in DeFi, Between 2018 to 2026, (USD), (bn)
4.1.3 Interoperability Unlocks New Use Cases
Figure 4.4: Interoperability With Mobile Money Services
4.2 Key Trends & Drivers for Mobile Money Platform Providers
4.2.1 Open APIs and Open Platforms
4.2.2 The Shift Towards Cloud-based Microservices Architecture
4.2.3 Unlocking AI-driven Insights and Use Cases 44
COMPETITOR LEADERBOARD
1. Mobile Money Services Competitor Leaderboard & Vendor Profiles
Table 1.1: Juniper Research Competitor Leaderboard: Mobile Money Services Vendors Included & Product Portfolio
Figure 1.2: Juniper Research Leaderboard: Mobile Money Services
Table 1.3: Juniper Research Leaderboard: Mobile Money Services
Table 1.4: Juniper Research Leaderboard Heatmap: Mobile Money Services – Part 1 of 2
Table 1.4: Juniper Research Leaderboard Heatmap: Mobile Money Services – Part 2 of 2
1.1 Vendor Profiles
1.1.1 Airtel Money
i. Corporate
Table 1.5: Airtel Africa Financial Snapshot, ($m), 2022-2025
Table 1.6: Airtel Money Operational KPIs, 2023-2025
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 1.7: Airtel Money Products and Services
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.2 bKash
i. Corporate
Table 1.8: bKash Financial Performance Snapshot, 2021-2024
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 1.9: bKash’s Products and Services
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.3 easypaisa
i. Corporate
Table 1.10: easypaisa’s Financial Performance Snapshot, 2021-2024
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.4 EcoCash
i. Corporate
Table 1.11: Econet Wireless Zimbabwe’s Financial Performance Snapshot, ($m), 2024-2025
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 1.12: EcoCash Pay Merchant Workflow
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.5 eZ Cash
i. Corporate
Table 1.13: Dialog Axiata PLC’s Financial Performance Snapshot, ($m), 2021-2024
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 1.14: eZ Cash List of Mobile Money Services
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.6 GCash (Philippines)
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.7 Grameenphone (GP)
i. Corporate
Table 1.15: Grameenphone’s Financial Performance Snapshot, ($m), 2021-2024
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.8 LinkAja
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.9 MonCash
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.10 Moov Money (Benin)
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.11 M-PESA
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.12 MTN Mobile Money
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.13 Ooredoo Money
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.14 Orange Money
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.15 Roshan M-Paisa
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.16 Tigo Money
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.17 Transfer (Telcel)
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.18 TrueMoney
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.19 UPaisa
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.1.20 Wave Money
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2 Juniper Research Leaderboard Assessment Methodology
1.3 Limitations & Interpretations
Table 1.16: Juniper Research Competitor Leaderboard Scoring Criteria: Mobile Money Services
2. Mobile Money Platform Providers Competitor Leaderboard
Table 2.1: Juniper Research Competitor Leaderboard: Mobile Money Platform Vendors Included & Product Portfolio
Figure 2.2: Juniper Research Competitor Leaderboard: Mobile Money Platform Vendors
Table 2.3: Juniper Research Competitor Leaderboard: Mobile Money Platform Vendors
Table 2.4: Juniper Research Competitor Leaderboard Heatmap: Mobile Money Platform Vendors
2.1 Vendor Profiles
2.1.1 Amdocs
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 2.5: Amdocs’ DFS Platform Solutions
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.2 Comviva
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 2.6: mobiquity Banking Suite Key Functionalities Infographic
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.3 DigiPay.Guru
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.4 Ericsson
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.5 Estel Technologies
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 2.7: Estel Technologies’ Mobile Money Platform Capabilities
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.6 Huawei
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 2.8: Huawei’s Mobile Finance Architecture
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.7 Inswitch
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.8 Obopay
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.9 Omobio
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 2.9: Omobio’s Key Features for Mobile Money Users
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.10 OpenWay Group
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 2.10: Way4’s Payment Business Capabilities
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.11 MobiFin
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.12 Seamless Distribution Systems
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.13 Telepin Software
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.14 Tmob – Thinks Mobility
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.15 Veengu
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.1.16 Youtap
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 2.11: Youtap’s Services
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
2.2 Juniper Research Leaderboard Assessment Methodology
2.3 Limitations & Interpretations
Table 2.12: Juniper Research Competitor Leaderboard Scoring Criteria: Mobile Money Platform Providers
2.4 Related Research 96
MARKET DATA & FORECASTS
1. Introduction & Forecast Methodology
1.1 Introduction to Mobile Money
Figure 1.1: Unbanked Adult Population (m), Split by 8 Key Regions, 2025
1.2 Definitions Within Mobile Money
1.2.1 The Context
1.3 Introduction to Forecasts
1.3.1 Mobile Money Forecast Methodology
Figure 1.2: Mobile Money Methodology
Figure 1.3: Microloans Forecast Methodology
Figure 1.4: Microsavings Forecast Methodology
Figure 1.5: Microinsurance Forecast Methodology
1.4 Market Forecasts Summary
1.4.1 Total Users of Mobile Financial Services
Figure 1.6: Total Mobile Money Users (m), Split by 4 Emerging Regions, 2025-2030
1.4.2 Total Monetary Spend and Deposits Made by Consumers on Mobile Financial Services
Figure & Table 1.7: Total Monetary Spend on Deposits Made by Consumers on MFS ($), Split by 4 Emerging Regions, 2025-2030
Table 1.8: Total Monetary Spend and Deposits Made by Consumers on MFS ($m), Split by Services, 2025 2030
1.5 Sophisticated Microfinance Forecasts
1.5.1 Number of Unique Mobile Users Who Make Sophisticated Microfinance Transactions
Figure & Table 1.9: Total Unique Mobile Users Who Make Sophisticated MFS (m), Split by 4 Emerging Regions, 2025-2030
1.5.2 Total Volume of Sophisticated Microfinance Transactions
Figure & Table 1.10: Total Volume of Sophisticated Microfinance Transactions per annum (m), Split by 4 Emerging Regions, 2025-2030
1.6 Mobile Money Forecasts
1.6.1 Total Number of Mobile Money Transactions per annum
Figure & Table 1.11: Total Number of Mobile Money Transactions per annum (m), Split by 4 Emerging Markets, 2025-2030
Table 1.12: Total Volume of Mobile Money Transactions in Emerging Markets (m), Split by Transaction Type, 2025-2030
1.6.2 Total Value of Mobile Money Transactions in Emerging Markets
Figure & Table 1.13: Total Value of Mobile Money Transactions in Emerging Markets ($m), Split by 4 Emerging Markets, 2025-2030
Table 1.14: Total Value of Mobile Money Transactions in Emerging Markets ($m), Split by Transaction Type, 2025-2030
1.7 Microloans and Microcredit Forecasts
1.7.1 Total Number of Mobile Microloans in Emerging Markets
Figure & Table 1.15: Total Number of Mobile Microloans in Emerging Markets (m), Split by 4 Emerging Markets, 2025-2030
1.7.2 Total Value of Mobile Microloans in Emerging Markets
Figure & Table 1.16: Total Value of Mobile Microloans ($m), Split by 4 Emerging Markets, 2025-2030
1.8 Mobile Microsavings Forecasts
1.8.1 Total Number of Mobile Microsavings Accounts
Figure & Table 1.17: Total Number of Mobile Microsavings Accounts in Emerging Markets ($m), Split by 4 Emerging Markets, 2025-2030
1.8.2 Total Annual Deposit Value for Mobile Microsavings
Figure & Table 1.18: Total Annual Deposit Value for Mobile Microsavings ($m), Split by 4 Emerging Markets, 2025-2030
1.9 Mobile Microinsurance Forecasts
1.9.1 Total Number of Mobile Microinsurance Accounts
Figure & Table 1.9: Total Number of Mobile Microinsurance Accounts in Emerging Markets ($m), Split by 4 Emerging Markets, 2025-2030
1.9.2 Total Cost of Mobile Microinsurance to Users
Figure & Table 1.20: Total Cost of Mobile Microinsurance to Users ($m), Split by 4 Emerging Markets, 2025-2030 22

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