Mobile money transfers beat other digital payment platforms
People conduct transactions at a mobile money stall in Kenya's capital Nairobi. New digital payment platforms posted record levels of transaction values in 2022, posing stiff competition for mobile money platforms. PHOTO | FRANCIS NDERITU | NMG
Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
Mobile money transactions defied the competition last year, hitting a new record high globally despite the emergence of alternative digital payment platforms.
The latest mobile money industry report by the Global Systems for Mobile Communications Association (GSMA) shows that global daily transaction value in 2022 surpassed forecasts to hit $3.45 billion, as the total value transacted on mobile money platforms grew by 22 percent to hit $1.26 trillion.
