Mobile Money: Collaboration in competition

Posted on April 30, 2014  /  2 Comments

Nine mobile operators have agreed to accelerate the implementation of interoperable mobile money services across MEA regions. Bharti Airtel, Etisalat, Millicom, MTN, Ooredoo, Orange, STC, Vodafone and Zain will implement the GSMA’s Mobile Money Interoperability (MMI) program.

These operators represent 582 million mobile connections across 48 countries in the Middle East and Africa regions. As of December 2013, mobile money in this region showed following growth:

  • The regions accounted for 58% of the world’s 218 mobile money deployments;
  • Sixty-six percent of all registered accounts and 73% of active accounts are located in Sub-Saharan Africa and the Middle East and North Africa;
  • Mobile money users in these regions accounted for 77% of global transaction value in June 2013, performing 341 million transactions totaling US$5.7 billion.

Download GSMA’s “State of the Industry 2013: Mobile Financial Services for the Unbanked” report.