Font Size: 

Earlier this year, CGAP teamed up with the GSM Association (GSMA) (a global trade association for the mobile communications industry) and McKinsey (a global management consulting fi rm) to measure the global market for financial services delivered via mobile phones (mobile money) in 147 developing countries. This is the first study of mobile money and the unbanked—those without access to formal fi nancial services—estimated to be almost 4 billion worldwide.