The growing number of mobile subscribers, the rising use of digital payment-based business models and increasing government initiatives to encourage a cashless economy are the prominent factors contributing to the growth of the mobile money market size. The financial and banking sector are disturbed by the digital revolution. Organizations globally are coming up with remarkable business models that are influencing the present banking revenue. There has been an increase in demand for digital payment due to customer requirements, rapid technological advancements, and regulatory compliance.
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