A digital money revolution sweeps the world, but leaves millions behind

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On a busy street in New Delhi, a street vendor taps a phone screen to receive payment. Thousands of miles away in Kampala, a trader does the same. Across continents, a quiet transformation is unfolding, reshaping how people interact with money itself.

According to The Global Findex Database 2025: Connectivity and Financial Inclusion in the Digital Economy, nearly 79% of adults worldwide now have a financial account. Just over a decade ago, that figure was barely above half.

The speed of that change is striking. It means that billions of people have entered the formal financial system in a relatively short time. But the story is not just about banks; it is about phones.

Today, 86% of adults globally own a mobile phone, and about 67% use the internet, mostly through smartphones, according to the report. These devices have become the new infrastructure of finance, replacing bank branches with digital platforms that fit in the palm of a hand.

“Finance is no longer anchored in physical branches,” the report notes. “It is embedded in handheld devices.”

Digital payments now dominate. In developing economies, 61% of adults made or received a digital payment, signalling a shift in how money moves. Governments are increasingly paying wages and social transfers digitally, while businesses are building transaction records that can unlock access to credit.

But beneath this progress lies a more complicated reality. About 1.3 billion adults still lack access to financial accounts. And while gender gaps persist, the report points to poverty as the biggest barrier. In simple terms, the poorest people are still the least likely to own smartphones, the very tools needed to fully participate in the digital economy.

The divide is no longer just about access to banking. It is about access to connectivity.

Even for those inside the system, financial security remains fragile. Only 56% of adults globally say they could access emergency funds easily. Many cannot cover more than a month of expenses, revealing a gap between having an account and having financial resilience.

There are also new risks. Only about half of mobile money users in some regions protect their devices with passwords. Scams and hidden fees are becoming part of the digital experience, raising concerns about trust and consumer protection.

The world, in other words, has made extraordinary progress in bringing people into the financial system, but inclusion alone is no longer enough.

The next challenge is ensuring that access translates into stability, security, and real economic opportunity.