Latest analysis from Juniper Research suggests that the need to access basic financial services by users in developing countries will drive the short term growth from current less than 100 million of active mobile money users globally to exceed 200 million by 2013.
At the same time, the report titled “Mobile Money Transfers & Remittances: Markets, Forecasts & Vendor Strategies 2011-2015” also cautions that whilst there are several high profile examples of extremely successful mobile money services, each new rollout needs an established, robust and extensive local distribution network to ensure access to the service.
Further findings from the report include:
- The market has been boosted recently by person-to-person money apps in developed countries to enable people to easily make social transfers such as split the cost of meals or pay the babysitter.
- Nearly 40% of active users in 2015 will be in the Africa & Middle East region.
As usual, you can get additional information on Juniper’s report from their website.