Mobile Money Transfer Users to Approach 400mn by 2018, Juniper finds
Report Identifies “Mobile Money Incubator” Conditions and Markets
Hampshire, UK – 18th September 2013: Nearly 400mn mobile phone users worldwide are expected to use their handsets for mobile money transfer by 2018, up from just under 150mn this year, according to a new report from 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.
The report - Mobile Money Transfer & Remittances: Domestic & International Markets 2013-2018 – stressed the need for service providers to ensure that support infrastructure, including an extensive agent network, needed to be in place well in advance of commercial launch. It argued that the agent: subscriber ratio should be no greater than 1:500 to ensure a high proportion of active users, with strong agent concentrations at the outset in key urban areas within developing markets.
The report also identified the key criteria for what it termed “Mobile Money Incubators”, assessing the optimal conditions to nurture mobile money service deployment and development, and highlighting markets which fulfilled these criteria.
Mobile Money Taxes “Severe Brake on Growth”
However, the report cautioned against the imposition of taxes on mobile money services, such as those recently introduced in Kenya and Uganda. According to report author Dr Windsor Holden: “While the impact on the Kenyan market appears to have been limited thus far, we should point out that this is the most mature mobile money market. The introduction of a similar tax in a market in the early stages of service adoption could serve as a severe brake on growth or make potential service providers reconsider planned deployments."
Other findings from the report include:
• Airtime top-up is now viewed as the primary mobile international remittance opportunity
• Money transfer platforms are becoming increasingly modular and flexible to enable integration of future bolt-on services
The ‘Mobile Money Transfer – Send & Spend’ whitepaper is available to download from the Juniper website together with further details of the full report and the attendant Interactive Forecast Excel, which enables clients to interrogate the assumptions behind Juniper’s forecasts and create alternative future outputs.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
For further details please contact Michele Ince, Press Relations
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