Mobile Money Innovations for Financial Inclusion
Summary
Mobile money encapsulates digital platforms that enable financial transactions via mobile devices, transforming how individuals and small businesses access banking services. Since its emergence in the mid-2000s, mobile money has leveraged agent networks, secure mobile wallets and interoperable payment systems to reach populations lacking traditional bank infrastructure. Innovations in user authentication, low-cost transaction protocols and partnerships with telecom operators have driven widespread adoption across Africa, Asia and Latin America. By facilitating remittances, micro-payments and savings mobilisation, these services underpin broader economic participation, reduce cash-handling risks and stimulate local commerce. Ongoing advancements—such as integration with digital identity frameworks and the application of machine learning for credit scoring—further enhance the potential of mobile money to bridge financial gaps and support sustainable development goals.
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Mobile Money Innovations for Financial Inclusion publication trend
The graph below shows the total number of articles in mobile money innovations for financial inclusion across all publications each year (not limited to Nature Index journals).
Technical terms
Mobile money: A system that allows users to store, send and receive money through mobile devices without traditional bank accounts.
Financial inclusion: The process of ensuring access to useful and affordable financial services for all individuals and businesses.
Agent network: A distributed network of authorised individuals or outlets that facilitate mobile money transactions on behalf of users.
Digital wallet: A software application that securely stores users’ payment information and credentials for online and mobile transactions.
Remittance: A transfer of money by a foreign worker or individual to their home country or within a domestic economy, often facilitated by mobile money platforms.
References
- M-PESA: Mobile Money for the Unbanked Turning Cellphones into 24-Hour Tellers in Kenya. Innovations Technology Governance Globalization (2007).
- Exploring the gender gap in mobile money awareness and use: evidence from eight low and middle income countries. Information Technology for Development (2023).
- Use of mobile financial services among farmers in Africa: Insights from Kenya. Global Food Security (2022).
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