Mobile Money Service Provider

Mobile Money is a form of digital money and as the name suggests this e-money can be used via cell phone. An individual needs to have a bank account linked to their mobile number to make transactions using the phone. Some common examples of Mobile Money Service Providers (MMSP) are Google Pay, Paytm, PhonePe, and all the banking institutes that allow virtual banking services. In this article, we have performed a simple descriptive analysis on a global basis to understand who is actively using Mobile Money. As per the data, cell phone subscriptions have increased over time thus we have witnessed the rise of MMSPs and the usage of Mobile-money-services (MMS). Our analysis showed that the active consumers of this service are mostly rich, older adults, and men. So, Mobile money is not so popular with poor, young adults and women around the world. Is it because they do not have enough money to spend, hence reluctant to download a mobile money service providing app? As Edward R. Tufte once said, ‘Above all else, show the data’, thus, moving forward with the article.