This work is based on reports by the regulators of Bolivia, Colombia, Guatemala, Mexico, Paraguay and Peru, who were tasked with preparing a document in which they narrate their experience with mobile financial services. The purpose of this special report is to draw lessons from these countries’ shared experiences, explore what has been done in each country to develop and advance MFS and examine the diverse approaches required by the unique socioeconomic contexts in which these regulators and policymakers operate.