London: The GSMA has today published its annual ‘State of the Industry Report on Mobile Money’. It reveals a dramatic acceleration in mobile transactions during the COVID-19 pandemic as lockdown restrictions limited access to cash and financial institutions. The report found that the number of registered accounts grew by 13 per cent globally in 2020 to more than 1.2 billion – double the forecast. The fastest growth was in markets where governments provided significant pandemic relief to their citizens.

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