Intl' Mobile Money Transfer Market To Reach $65 Billion by 2014
November 17, 2009 9:22 AM | Interesting | Comments (1)
 Juniper's new report - ' Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014' - however also identified a number of inhibiting factors such as rising global unemployment and increased immigration controls by governments which will hold back the market until the recession is over. |
Howard Wilcox, Senior Analyst, commented: "Our view is very clear - in the long term this market proposition is highly attractive. Mobile remittance offers a speedy, cost effective and convenient channel for people to send money regularly to friends and family at home, who themselves may not have bank accounts".
The mobile money transfer report also revealed a new emerging sector for microcredits, saving accounts and insurance payments. Known as "sophisticated financial services" these services are entirely focused on developing countries where users do not have access to traditional banking or financial services or simply use alternative means of payment traditionally such as physically transporting cash, or storing cash savings at home. The report found that is new market for financial services on the mobile, can add to the attractiveness of mobile money services, and help to reduce mobile operator churn.
Further findings include:
- North America and Western Europe will be the main remittance sending regions in 2014
- Typically international transfers are conducted by a smaller base of users than national or domestic transfers, but transaction values are higher, payments are more regular and less frequent.
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 research website.
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Comments
Posted by: Wally Grizwald | November 25, 2009 4:24 PM
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