"The first adopters of mobile money were economies in sub-Saharan Africa, and over time adoption rates have increased rapidly particularly in Asia and Latin America. As of 2020, there were 1.2 billion mobile money accounts globally, with US$ 767 billion in transactions during the year. Sub-Saharan Africa accounts for 45.2 percent of all registered mobile money accounts, while South Asia and East Asia and the Pacific account for 25.2 percent and 20 percent of registered accounts respectively. A wide range of transactions are executed on mobile money networks, including person-to-person transfers (which account for the largest share), as well as merchant payments, mobile-bank payments, international remittances, bill payments, government transfers and payments, business-to-business payments and airtime purchases. The overall trend shows mobile money continuing to scale rapidly in a number of countries globally, although a number of implementations have been unsuccessful. This report details the key lessons from the mobile money experience in Africa that can contribute to the effective design, regulation and operation of central bank-issued digital currencies (CBDCs), based on the wealth of theoretical and empirical evidence on the social, economic and cultural impact of mobile money. The lessons are categorized into regulatory, technology, economic and socio-cultural." (Executive summary)