According to new analysis from Juniper Research
(www.juniperresearch.com), 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
* 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
The report, launched globally today, contains comprehensive six year
forecasting for all the key market parameters including users,
transactions and values for national and international transfers, and
sophisticated mobile financial services.
The Mobile Money whitepaper and further details of the study, ‘Mobile
Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014’
can be freely downloaded from the Juniper website.