Over the past three years, mobile money services have blossomed across a range of markets in developing Asia and sub-Saharan Africa. Encouraged by the astonishing success of Safaricom’s M-PESA in Kenya, other mobile network operators have sought to emulate it by deploying their own range of transfer and remittance options, thereby reaping substantial rewards from their deployments. Nearly 400 million mobile phone users worldwide are expected to use their handsets for mobile money transfer by 2018, that's up from just under 150 million this year, according to the latest market study by Juniper Research. Growth is expected to be driven primarily by deployments of domestic money transfer services, with multinational network operators increasingly launching products on a group-wide rather than an ad hoc basis. Findings from the market study stressed the need for mobile network service providers to ensure that support infrastructure -- including an extensive agent network -- neede...
TMT Market Research Summaries and Analysis