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• #TMOBILE MONEY DRIVERS#

“Concerted action is required from policymakers, the private sector, donors and other stakeholders to learn from success stories, address the issue and ensure that existing gender inequalities are not further entrenched, especially in light of the Covid-19 (coronavirus) pandemic. “Beyond traditional person-to-person transactions, such as transferring money to family or friends, the industry is now central in helping small businesses operate more efficiently and serve their customers better”.Īlthough praising the progress of the sector and impact on financial inclusion in low- and middle-income countries, the GSMA report highlighted work still to do, with some countries having a significant gender gap in use of mobile financial services.īarriers to further adoption include lack of access to a mobile handset, “a lack of awareness of mobile money and a deficit in perceived relevance, knowledge and skills,” the GSMA noted in a statement. As per the IMFs Financial Access Survey, mobile money is a pay-as-you-go digital medium of exchange and store of value using mobile money accounts. No account fees or minimum amount is required. Paycheck direct deposits can be split it between checking and savings accounts and still get paid up to 2-days early. T-Mobile MONEY is powered by BMTX, accounts provided by Customers Bank, Member FDIC. T-Mobile MONEY Savings Accounts All qualified customers will earn 1.50 Annual Percentage Yield (APY) on all savings account balances. Plus, when you set up direct deposit for your paycheck you can get paid up to 2 days early. In a statement, GSMA head of mobile for development Max Cuvellier noted “2021 was the year mobile money started to really diversify to B2B services”. T-Mobile MONEY puts you and your money first with no minimum balances, no account fees, no overdraft fees, and over 55,000 no-fee Allpoint ATMs.

#TMOBILE MONEY DRIVERS#

The GSMA noted one of the key industry drivers for the increase in transactions was the merchant payments segment. T-Mobile MONEY account offers an APY starting at 1.50 and ranging up to 4.00 (APY stands for annual percentage yield, rates may change).

Its latest annual state of the industry report on mobile money highlighted services were active in 98 markets globally, with a total of 5.6 million agents.