Around 53 percent of mobile internet users in India, Kenya, Indonesia, Ghana and Nigeria have engaged in mobile banking and payment activities. In Kenya, over 96 percent of mobile internet users have engaged in a financial activity via their mobile, according to a report by mobile research specialists On Device Research. The report also found that using mobile phones for financial activities is also popular in rural areas, with almost equal penetration compared to urban usage in some countries. Sending airtime credits is the most popular mobile finance activity, with 28 percent transferring credit. Airtime can be used as a form of currency to pay for goods and services.
Source: Telecom Paper.