Mobile phones are rapidly transforming how billions access financial services, bridging gaps and empowering communities globally.

Global Trends in Financial Inclusion

Over the past decade, formal account ownership has soared from around 51% of adults in 2011 to nearly 80% in 2025. Still, approximately 1.3 billion adults remain unbanked, representing a vast opportunity for digital outreach. The Global Findex 2025 report underscores that mobile phones and the internet are revolutionizing financial inclusion, driving unprecedented growth in account usage and digital payments.

Data from the Findex Digital Connectivity Tracker reveal that 86% of adults worldwide own a mobile phone and 68% own a smartphone. Remarkably, about 900 million unbanked adults have access to mobile devices, including 900 million unbanked adults with smartphones, indicating immense latent potential for mobile-driven inclusion.

Mechanisms and Channels

Multiple digital channels now empower individuals to manage money, pay bills, and build resilience.

• Mobile money accounts and wallets: They allow users to store value, send/receive money, pay bills, buy airtime, and access savings, credit, and insurance. Daily flows exceed $4.6 billion globally, facilitating remittances, merchant payments, salary transfers, and government benefits.
• Mobile banking apps: In many emerging and high-income markets, these apps are the primary portal for banking services. Adoption rates exceed 87% in Scandinavia, 85% in Turkey, and 82% in Nigeria, with China leading at over 860 million users.
• Real-time payment rails via mobile: Systems like India’s UPI and Brazil’s PIX deliver instant low-cost transfers via mobile, enabling peer-to-peer transfers, merchant payments, and government-to-person disbursements almost instantly.
• Fintech and super-apps: Integrated into daily life, these platforms offer digital wallets, micro-lending, buy now pay later (BNPL), and micro-insurance. BNPL transaction value reached $350 billion in 2024, expanding credit access to underserved consumers.

Impacts on Inclusion and Livelihoods

The shift from cash to digital channels has far-reaching effects on how people earn, save, and manage risks.

• P2P transfers and remittances: Digital flows rose from 13% in 2019 to 46% in 2024, cutting costs and slashing transfer times.
• Government-to-person (G2P) payments: Three-quarters of recipients in low- and middle-income countries now receive benefits digitally, reducing leakage and improving targeting.
• Merchant and bill payments: 42% of adults in developing economies made merchant payments digitally in 2024, up from 35% in 2021, enabling small vendors to thrive.
• Saving via mobile: Formal savings in developing economies surged by 16 percentage points between 2021 and 2024, marking surge in formal savings and resilience after years of stagnation.
• Digital credit: Mobile-based micro-loans help micro and small enterprises flourish. In Sub-Saharan Africa, fintech lending to small businesses rose from 13% to 88% of overall fintech funding between 2020 and 2023.

Gaps, Risks, and Challenges

Despite rapid progress, significant hurdles remain in deepening and securing digital inclusion.

• Connectivity constraints: Over 1 billion people still rely solely on cash in regions with limited network coverage.
• Digital literacy: Users often need training to navigate mobile interfaces safely and effectively.
• Fraud and security: Rising online transactions increase exposure to cybercrime and unauthorized access.
• Gender disparities: Although the global account ownership gap has narrowed, women’s deposit and loan balances remain below men’s, reflecting a gender gap in account ownership in usage and credit.

Regional and Demographic Perspectives

In low-income economies, account ownership jumped by 11 percentage points between 2021 and 2024, while lower-middle-income countries saw an 8-point rise. These gains highlight how digital channels are leveling access across income brackets.

Women’s financial inclusion has advanced dramatically: globally, 77% of women now have an account compared to 81% of men, shrinking the gap from 9 to 4 points since 2011. In parts of Sub-Saharan Africa, over half of women use mobile money, illustrating how mobile as a gender equalizer can transform economic participation.

Age and education still influence adoption: college graduates adopt mobile banking at rates above 54%, while lower-educated segments lag. Targeted financial education and tailored platforms can help bridge these divides.

Future Trends and Opportunities

Innovation continues at pace. Emerging technologies such as blockchain, biometric authentication, and AI-driven credit scoring promise to enhance security, lower costs, and extend services to the hardest-to-reach populations. The rise of digital identity frameworks in countries like India and Estonia illustrates how verified identity can unlock new financial pathways.

Super-app ecosystems are expanding from payments into health, education, and e-commerce, creating integrated lifestyle platforms. These developments could drive a new wave of inclusion by embedding financial services into everyday needs.

Regulators and industry must collaborate to foster open APIs, protect consumer data, and ensure fair pricing. Public-private partnerships can scale agent networks in rural areas, combining mobile connectivity with human touchpoints for onboarding and support.

As we look ahead, the goal is clear: move beyond mere account ownership to shifting from access to active use. Empowering individuals with the skills, trust, and tools to manage their finances digitally will create resilient families, thriving businesses, and more equitable societies.

Together, by harnessing the power of mobile technology and fostering inclusive ecosystems, we can ensure that the next billion users not only gain access but truly benefit from the promise of digital finance.