Juniper Research: Over half a billion people to use mobile money transfer services by 2014

Juniper Research’s latest report titled “Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014″ argues that the consumer demand for mobile money transfer services will see users exceed 500 million globally by 2014, most of which will come from the developing countries. The reason is simple – for many people living in such markets, a mobile phone will be their first touch with the banking system.

However, Juniper also points out that many of the mobile money services being announced will face political, regulatory or commercial challenges along the way.

Further findings from the 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;

More information is available from Juniper Research’s website.