As mobile usage swells and financial exclusion remains a pressing challenge in many emerging markets, Mobile Virtual Network Operators (MVNOs), in partnership with fintechs, are increasingly stepping into the gap. These collaborations are not just about providing connectivity, they’re about embedding financial services, unlocking trust, and driving participation in the digital economy.
Below are the key trends, some recent data, and what it means for players like MVNOs, fintechs, and digital financial service providers.
Key Market Stats
- The global MVNO market is projected to reach USD 167.9 billion by 2033, growing at a compound annual growth rate (CAGR) of about 7.4% from 2024 to 2033.
- In Latin America, MVNO subscriber numbers are expected to nearly double—from 32.8 million in 2024 to 57.2 million by 2029.
- Africa’s MVNO sector, while still emerging, is forecasted to grow at about 6.75% CAGR through 2028, driven significantly by demand for affordable services and financial inclusion.
- The “MVNO-in-a-Box” model (packaged solutions to launch MVNOs quickly) is forecast by Juniper Research to grow from approx. US$310 million in 2024 to over US$1 billion in 2029.
Major Collaboration Trends
1. Embedded Financial Services
MVNOs are no longer just providers of connectivity. They are integrating fintech products such as digital lending, wallet services, micro-credit, and merchant finance, into their offerings. These help in monetising subscriber bases more deeply while offering value to customers who are often underserved.
2. Flexible Pricing & Device Access
Affordability remains a critical barrier. MVNOs partnered with fintechs are rolling out flexible device ownership schemes (rent-to-own, instalment plans), airtime/data advances, and credit-based payment models. These allow users to gain access to smartphones and data without prohibitive upfront costs.
3. “MVNO-in-a-Box” & White-Label Solutions
To reduce complexity, emerging MVNOs are using ready-made platforms (“MVNO-in-a-Box”) that provide hosted services, billing systems, CRM integrations, and APIs. This lowers the barrier to entry, reduces time-to-market, and makes financial service bundling more feasible.
4. Regulatory & Wholesale Access Enablers
In many emerging economies, regulatory reforms are enabling MVNOs more spectrum or network access, and wholesale access is improving. This supports MVNO-fintech collaborations to scale, especially when fintech partners bring financial licensing or payment system integrations.
5. Data, AI, and Analytics
Fintech and MVNO partners are using customer usage data, connectivity data, and payment behaviour, combined with AI/ML, to underwrite credit, predict churn, deliver personalised offers, and manage risk. These tools are essential for making bundled fintech-connectivity services viable and sustainable.
Why These Trends Matter
For MVNOs and fintechs, emerging markets represent massive untapped opportunity. But to succeed, you need more than just innovation, you need stability, affordability, trust, regulatory alignment, and deep customer understanding.
Consumers in many emerging economies are highly price sensitive and credit constrained. Providing financial flexibility (credit, device financing) via trusted telco brands helps close trust gaps. Meanwhile, bundling connectivity + financial services improves ARPU (average revenue per user) and increases retention.
What to Watch Next
- Device ownership models will scale: more MVNOs will offer rent-to-own and instalment device access as key enablers of inclusion.
- Partnerships between fintech, MVNOs, and mobile wallets will deepen especially for female and rural users who are much more likely to be excluded in existing models.
- API-driven insurance, merchant microloans, rewards programs embedded into connectivity plans will become differentiators.
- Regulations (on KYC, credit, data privacy) will be crucial – markets that adopt enabling but safe frameworks will see faster growth.
MVNO-Fintech collaborations in emerging economies are rapidly evolving from experimental to foundational. They are unlocking access for underserved populations, enabling affordability in device ownership and connectivity, and building financially inclusive ecosystems.
For companies willing to integrate finance, tech, and connectivity in scalable, responsible ways, the opportunity is enormous. This is exactly the frontier where AIRVANTAGE is operating, and where innovation meets impact.