With increasing access to mobile phones across the world, mobile money services have been growing in popularity, enabling users to deposit, transfer, and withdraw funds from a digital account without owning a bank account.
The advantages of mobile money are that it dramatically reduces transaction costs, while improving the convenience, security, and time taken for transactions. This VoxDevLit summarises research studying the expansion of mobile money service providers and accounts over the past decade, and highlights the importance of mobile money in changing financial behaviour, such as its effect on resilience, urban migration, and food security, especially among vulnerable groups. The impact of mobile money on financial inclusion is also discussed, alongside issues pertaining to mobile money regulation.
Mobile Money (Issue 2): Presentation of key takeaways
For our launch event, Tavneet Suri joined us to present the key takeaways from this VoxDevLit, highlighting policy relevant results from recent research on mobile money services.