According to a new research report issued by Swedish analytical firm Berg Insight, several of the most successful mobile money services are today in use in Africa, but Asia-Pacific is expected to become the most important regional market, accounting for nearly two-thirds of the active user base in 2017. The total value of mobile money transactions is projected to grow from USD 44 billion in 2011 at a CAGR of 44 percent to USD 395 billion in 2017. Mobile money has a central role in extending the reach of formal financial services to the unbanked and financially underserved populations in emerging markets. The mobile phone will also be the primary self-service banking channel for a substantial share of the already banked individuals.Finally, the report has found that a number of services targeting the unbanked have been launched in several of the world’s largest countries such as Bangladesh, Pakistan, India, Nigeria, Mexico and Argentina. In some countries mobile money services have already matured to the extent that significant business opportunities emerge for companies from adjacent industries, such as insurance providers and merchant acquirers.
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