Mobile Financial Services are a powerful tool for bringing unbanked and underbanked people into the formal financial sector. With over 2 billion people in the world who still do not have access to formal financial services, mobile phones and other mobile devices are increasingly being used to increase reach and access to low-cost financial services including payments, transfers, insurance, credit and savings.

Now established in the majority of emerging economies, Mobile Financial Services is a maturing industry serving new business areas and enabling a wider range of digital finance products. Mobile Financial Services has become a core product offering for many Banks, Saccos, Credit Unions, MNOs, Microfinance organisations and Payment Service Providers (PSPs) who have licenses and business models to deliver these services in a sustainable and scalable manner.