Technology

Mobile payments explode in 2020 in the wake of the health crisis

The health crisis continues to have extremely significant consequences in our daily life. This is particularly the case with our consumption patterns. As the latest study from the GSMA, an organization bringing together operators on a global scale, reveals, the Covid-19 pandemic in 2020 gave rise to “a spectacular acceleration of mobile transactions”.

The number of accounts registered on mobile payment tools increased by 13% last year to more than 1.2 billion accounts, double what was expected so far. In 2020, the GSMA also notes that two billion dollars were exchanged daily from mobile payment tools, as can be for example Orange Money, the dedicated platform of Orange, whose CEO Stéphane Richard occupies the functions president of the GSMA.

In Europe, the number of accounts on this type of platform jumped in 2020 by 6%, to reach 21 million accounts. On the Old Continent, 234 million transactions were carried out on the nine platforms available during the last fiscal year, for a total value of $ 4 billion, up 13% over one year.

A tool for growth?

The growth of mobile payments has been driven in particular by the massive aid provided by many governments to several areas of activity, including commerce, but also to households. So much liquidity which was then redistributed via solidarity mechanisms, often within families.

“For the first time, more than a billion dollars were sent and received each month in the form of remittances via mobile payment,” notes the GSMA.

“Despite initial fears of a decline in transactions, with populations around the world suffering job losses and income cuts during the pandemic, it is clear that diasporas continue to support their families and friends back home. . As a result, the total value of transactions increased by 65%, reaching an annual total of $ 12.7 billion in 2020, ”explains the organization. And to demand the removal of the limitation on these money transfers, in order to further increase the weight of these platforms in the global economy and to allow more people to have access to them.

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