Mobile Money Users in Emerging Markets to Reach 2.2 Billion by 2030

A new study by Juniper Research has revealed that over 53% of the adult population in emerging markets will use mobile money services by 2030. It forecasts that mobile money will gain over 370 million additional users compared with 2026.

The research identified the rising adoption of open platforms and APIs as being key to enabling interoperability. These changes allow providers to integrate seamlessly with key partners, such as banks, financial institutions, and fintechs, unlocking new use cases, including mobile microloans, microinsurance, savings, and Buy Now, Pay Later schemes.

“The industry-wide push towards expanding interoperability between mobile money platforms is enabling growth and improving financial inclusion for low- and middle-income population groups. Advancements in the technology layer are allowing vendors to expand beyond siloed systems and integrate into the wider financial ecosystem, driving mobile money from basic services to more advanced banking-like capabilities,” noted Jawad Jahan, Research Analyst at Juniper Research.

The research recommends that mobile money providers prioritise building open API ecosystems and developing relationships with key partners, such as banks, agent networks, retailers, and other technology providers. This enables platforms to position their capabilities to best match changing market trends.

“As smartphone penetration rises, mobile money is evolving from simple USSD-based P2P transfers into fully-fledged financial super apps. Open APIs will be critical in connecting these services, enabling seamless embedded finance, and unlocking the next wave of digital financial inclusion. Platforms failing to enable this transition will be rapidly left behind”, explained Jahan.