Mobile Money Transfer

The chapter reviews the growth of mobile money transactions (MMTs) and their effect on international remittances and financial inclusion. The novelty of MMTs is its widening adaptation beyond Sub-Saharan Africa with increased confidence in use of MMTs by international humanitarian agencies and governments in reaching out to citizenry through government-to-people (G2P) as well as people-to-government (P2G) payment platforms. The chapter is conceptualized on the emergent themes emanating from the World Bank data under the G20 financial inclusion indicators in 60 countries with remarkable MMTs per 100,000 adults. Emergent findings from the data indicates of MMT benefits to small countries such as the Pacific Island countries, benign economic policies under West African countries, increased uptake of cash and voucher transfers through humanitarian support, and the pursuit of cashless economy through mobile wallets. In essence, the growth of MMTs is currently viewed as leap-frog strategy to the low- and middle-income countries embracing MMTs in promoting the sustainable development goals.