The adoption of mobile phones has continually increased worldwide over the past several years, but in the Middle East and North Africa (MENA), it is especially notable. Despite an overall slowdown in global growth in 2015, there are no signs of slowing in the region. Currently, there are roughly 680 million mobile subscriptions in MENA with that number expected to grow by six percent per year, reaching almost one billion by 2020.
We are thrilled to announce that our flagship identity verification solution, GlobalGateway, now covers MENA to help power cross-border mobile money remittances. The additional data sources secured from the MENA region including Jordan, Lebanon, Kuwait, Saudi Arabia, Oman, Egypt and the United Arab Emirates (UAE) brings Trulioo’s identity verification coverage total to include over 50 countries and more than 200 unique, independent data sources.
Developed for the international market, GlobalGateway, helps businesses comply with a diverse range of identity verification requirements, including AML and KYC.
At the Mobile World Congress this year, GSMA launched the 2015 State of the Industry Report on Mobile Money highlighting the massive reach and growth of the mobile financial services industry. Mobile money is reaching more than 411 million people worldwide and available in 85 percent of countries where the vast majority of the population lacks access to financial services.
“The power of mobile is undeniable,” said Jon Jones, President of Trulioo. “New mobile money services are expected to grow by as much as 50 percent in the Middle East and North Africa, presenting our global clients with an irresistible growth opportunity.”
In May 2016, Trulioo announced that GlobalGateway included coverage in BRIC (Brazil, Russia, India, China) countries, regions where B2C e-commerce growth rates are expected to grow faster than more advanced markets.