Over Half A Billion To Use Mobile Money Services By 2014
A lot is being expected from Mobile Money since the launch of easypaisa, primarily offering bill payments and promises to offer more services soon. People are looking froward to mobile banking potentials especially the un-banked population for their socio-economic empowerment. According to new analysis from Juniper Research, consumer demand for mobile money transfer services will see users exceed 500 million globally by 2014, principally in developing countries.
Juniper Research’s new report – ‘Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014’ - also suggests, however, that the many new mobile money services being announced will face political, regulatory or commercial challenges as they bring their services to market.
Howard Wilcox, Senior Analyst at Juniper Research and lead author, explained: “Every country has different regulatory structures, and its own set of local market conditions that service operators need to plan around. Nonetheless, we see this as a growth market because of the ubiquity and convenience of mobiles which offer realistic prospects of financial service access for those without traditional banking services.”
In developing world economies often only a small percentage of the population has a bank account or a credit card. A larger percentage, however, have a mobile phone or access to one. The reality is that far more people in countries that are underbanked will have used a mobile phone than will have used an ATM or visited a bank branch.
Further findings from the Juniper Research Mobile Money Transfer report include:
• Sophisticated mobile financial services such as loans and savings accounts can add to the attractiveness of mobile money services, and help to reduce mobile operator churn
• Africa & Middle East, Far East & China and the Indian Sub Continent will be the leading regions for national mobile money transfer services in 2014
The Mobile Money whitepaper and further details of the study, ‘Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014’ can be found at Juniper website.
Via Juniper Research.
 |
 (No Ratings Yet) Loading ... |
 |
TelecomPk.Net is a leading source of information and analysis about Pakistan Telecom industry. 
yah i agree, lot of people will start using mobile for payments and other stuff after the introduction of sites like easypaisa, but security of data will be one concern