Mobile Money Transfer & Remittances | Domestic & International Markets 2013-2018 | Research | Statistics | Market research
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Mobile Money Transfer & Remittances

Mobile Money Transfer & Remittances

Domestic & International Markets 2013-2018

Publisher: Juniper Research
Date Published: 18/09/2013
Category: Mobile Commerce
No of Pages: 96
Coverage: Global ~ 8 key regions
 

Overview

•    ‘Mobile Money Incubators’ Identified
•    Regulatory Measures Analysed
•    Key Markets Assessed

What this Report Covers:

With mobile money services blossoming across sub-Saharan Africa and developing markets, this fourth edition of Juniper's report into mobile money transfer and remittance provides the definitive analysis of the dynamics and trends shaping this rapidly expanding marketplace.

The report identifies and evaluates the key criteria for ‘Mobile Money Incubators': markets which are most conducive to the deployment and development of mobile money services. It also assesses the service specific factors, including agent network rollout, which must be addressed if those services are to maximise their opportunities.

From Remittance Flow to Credit

The report discusses how mobile money services are evolving beyond remittance flow to support more sophisticated options including micro-insurance and loan disbursement. It explores the reasons behind the limited deployments of mobile international remittance and considers the opportunities emerging in the airtime top-up space.

Expert Analysis and Strategic Recommendations

Learn from expert analysis and strategic recommendations supported by interviews with mobile money platform providers including DonRiver, eServGlobal, Monitise, SAP and TransferTo.

These, and other key players within the mobile money space, are profiled, their relative capabilities analysed within the context of a Vendor Matrix.

Market forecasts

The report contains more than 1,100 datapoints in 22 tables and 15 charts, forecasting key metrics for the overall mobile money transfer market and by segment (domestic transfer, international transfer and sophisticated mobile financial service. Providing detailed assumptions on market developments, supported by a series of national and international indicators, forecasts are split by 8 key regions and include:

• Active Service Users
• Per User and Total Transaction Volumes
• Average Transaction Values
• Total Transaction Values

An accompanying product, the Mobile Money Transfer & Remittances Interactive Forecast Excel contains country-level data for domestic money transfer for five national markets (Mexico, Philippines, Kenya, Nigeria and Tanzania), and for international money transfer for five national markets (US, Canada, Germany, UK and Saudi Arabia) together with additional per category data.

 



Table of Contents

Executive Summary

Figure ES3 & Table ES1: Total Number of Mobile Money Transfer Users (m) Split by 8 Key Regions 2013-2018
Figure ES4 & Table ES2: Total Value of All Mobile Money Transfers ($m) pa Split by 8 Key Regions 2013-2018
Figure ES4 & Table ES3: Total Service Provider Mobile Money Transfer Revenue Opportunity ($m) pa Split by 8 Key Regions 2013-2018

1. The Mobile Money Landscape: Beyond M-PESA

1.1 Introduction
1.1.1 Setting the Trend: M-PESA
i. Service Developments
1.2 Mobile Money: The Opportunity for Financial Inclusion
1.2.1 From Remittance to Credit: The Evolution of Mobile Money Services
Figure 1.2: The Evolution of Mobile Money
i. Basic Remittance
a. Airtime Top-Up
Table 1.1: Air Time Top Ups, Relative Values by Selected Remittance Corridor
b. P2P Transfer
Figure 1.3: Sample Mobile Wallet Registration Process
ii. Mobile Payments
a. Case Study: Nepal Telecom
iii. Micro insurance and Loan Disbursement
1.3 Driving the Mobile Money Market
1.3.1 Consumer Drivers
i. Real Cash Alternative
ii. Service Security
iii. Growth in Migrant Worker Remittances
1.3.2 The MNO Imperative
Figure 1.4: Baseline Analysis of Selected National ARPUs, 2007-2012 (2007=100)
Figure 1.5: Monthly ARPU ($), Selected Emerging Markets, 2012
1.4 Financial Access in the Developed World
1.5 World Bank Remittance Forecasts
Figure 1.6 & Table 1.2: World Remittance Flows ($bn) to Developing Countries 2009-2015

2. Mobile Money Incubators: Identifying Optimal Nurture Conditions For Mobile Money

2.1 Assessing the Mobile Money Opportunity
2.1.1 The Leading Mobile Money Markets Today
Figure 2.1: Africa & Middle East, Registered Mobile Money Users, End 2012 (72.4 million)
2.1.2 The Key Prerequisite: High Mobile Penetration, Low Banking Penetration
Figure 2.2 Mobile Penetration by 20 Selected Markets, End 2012 (%)
Figure 2.3 Unbanked Adult Population by 20 Selected Markets, End 2012 (%)
Figure 2.4 Mobile Penetration vs Unbanked Adult Population by 20 Selected Markets, End 2012 (%)
i. Cellular Market Concentration
ii. Penetration of Formal Financial Services
iii. Regulatory Environment
a. KYC Requirements
iv. Political Environment
2.1.3 Addressing Service Specific Constraints
i. Inadequate Local Agent Networks
Table 2.1: Mobile Money Registered Subscribers (m) and Agent Numbers, Selected Operators
Figure 2.5 M-PESA Mobile Remittance Participant Activities
ii. Service Trust
iii. Service Localisation and Relevance
a. Case Study: From mChek to ICICI
iv. Consumer Awareness
Figure 2.6: Driving Early Uptake – The Need for Intervention
v. Lack of Interoperability
vi. Service Cost
a. Service Taxation
vii. Cost of International Money Transfer
viii. Network Reliability

3. The Evolution Of The Mobile MTR Space

3.1 The Mobile Money Transfer Space Today
3.1.1 Mobile Money Deployments: From Ad Hoc to Group…
3.1.2 …But International Remittance Deployments are Stalling
3.1.3 Services are Becoming More Modular and Flexible
3.1.4 Consolidation and Acquisition
3.1.5 The Transition to a Hubbed Environment
3.1.6 The Evolving Role of the MNO
i. Why Should MNOs Launch Mobile Money Services?
ii. The Third-Party Opportunity
a. Barriers to Co-Operation: The Banks’ Perception
iii. Delivering a Successful MMT Service
a. Necessity for Upfront Investment
Figure 3.1: Cumulative Net Cash Flow and Active Customer Base, MTN Mobile Money, Uganda
b. Monetising the MMT Service
3.2 Future Prospects, New Markets
3.2.1 The Impact of the Smarter Featurephone
i. Towards a Cloud-Based Environment
3.2.2 Prospects for Domestic Money Transfer in Developed Markets

4. Domestic Money Transfer Forecasts

4.1 Methodology
4.1.1 Approach and Assumptions
Figure 4.1: Mobile Money Transfer Market Forecast Methodology
4.2 User Forecasts
4.2.1 Main Trends
i. Total Domestic Money Transfer Mobile Wallet Users
Figure 4.2 & Table 4.1: Domestic Money Transfer, Active Users (m) Split by 8 Key Regions 2013‑2018
a. Africa & Middle East
b. Far East & China,
c. Indian Sub-Continent
d. Rest of Asia Pacific
e. Central & Eastern Europe
f. Latin America
g. North America & Western Europe
4.3 Transaction Traffic Forecasts
Table 4.2: Average Number of Domestic Mobile Money Transfer Transactions  per Mobile Wallet User pa Split by 8 Key Regions 2013-2018
Figure 4.3 & Table 4.3: Total Number of Domestic Mobile Money Transfer Transactions (m) pa Split by 8 Key Regions 2013-2018
4.4 Transaction Size Forecasts
Table 4.4: Average Size of Domestic Transactions ($) Split by 8 Key Regions 2013-2018
4.5 Transaction Value Forecasts
Figure 4.4 & Table 4.5: Total Value of Domestic Transactions ($m) pa Split by 8 Key Regions 2013‑2018
4.6 Service Provider Revenue Opportunity Forecast
Figure 4.5 & Table 4.6: Service Provider Domestic Mobile Money Transfer Revenue ($m) Split by 8 Key Regions 2013-2018

5. Microcredits, Savings & Insurance Forecasts

5.1 Sophisticated Mobile Financial Services Defined
5.2 User Forecasts
Figure 5.1 & Table 5.1: Number of Sophisticated Mobile Financial Services Users (m) Split by 8 Key Regions 2013-18
5.3 Transaction Traffic Forecasts
Table 5.2: Average Number of Sophisticated Mobile Financial Service Transactions per User pa Split by 8 Key Regions 2013-2018
Figure 5.2 & Table 5.3: Total Number of Sophisticated Mobile Financial Service Transactions (m) pa Split by 8 Key Regions 2013-2018
5.4 Transaction Size Forecasts
Table 5.4: Average Size of Sophisticated Mobile Financial Service Transactions ($) Split by 8 Key Regions 2013-2018
5.5 Transaction Value Forecasts
Figure 5.3 & Table 5.5: Total Value of Sophisticated Mobile Financial Service Transactions pa ($m) Split by 8 Key Regions 2013-2018
5.6 Service Provider Revenue Opportunity Forecast
Figure 5.4 & Table 5.6: Service Provider Sophisticated Mobile Financial Service Revenue ($m) Split by 8 Key Regions 2013-2018
5.7 Incremental Value from Sophisticated Mobile Financial Services
Figure 5.5 & Table 5.7: Incremental Value from Sophisticated Mobile Financial Services Compared to Domestic Mobile Money Transfers (%) Split by 8 Key Regions 2013-2018

6. International Money Transfer Forecasts

6.1 User Forecasts
Table 6.1: Top 10 Remitting Countries (Sum of Bilateral Remittances) ($m) 2011
Figure 6.1 & Table 6.2: Number of Mobile Users Sending International Transfers (m) Split by 8 Key Regions 2013-2018
6.2 Transaction Size Forecasts
Table 6.3: Average Size of International Transactions ($) Split by 8 Key Regions 2013-2018
6.3 Transaction Traffic Forecasts
Figure 6.2: Top 20 Migration Corridors Ranked by Migrants (m) in 2010
Table 6.4: Average Number of International Mobile Money Transfers Sent per User pa  Split by 8 Key Regions 2013-2018
Figure 6.3 & Table 6.5: Total Number of International Mobile Money Transfers Sent (m) pa Split by 8 Key Regions 2013-2018
6.4 Transaction Value Forecasts
Figure 6.4 & Table 6.6: Total Value of International Mobile Money Transactions Sent pa ($m) Split by 8 Key Regions 2013-2018
6.5 Service Provider Revenue Opportunity Forecast
Figure 6.5 & Table 6.7: Service Provider International Mobile Money Transfer Revenue Forecast ($m) 2013-2018

7. Vendors, Strategies & Applications

7.1 Introduction
7.2 Vendor Positioning
7.2.1 Vendor Assessment Methodology
Table 7.1: Vendor Capability Assessment Criteria
7.2.2 Limitations and Interpretation
7.2.3 New Positioning Matrix Results
Figure 7.1: Global Mobile Money Vendor Positioning Matrix
7.2.4 Vendor Groupings
i. Summary
ii. On Track Vendors
iii. Vendors Exceeding Expectations
iv. Vendors with Further Potential
7.2.5 Strategy Conclusions - Corporate Activity
7.3 Company Brief: Accenture
7.4 Company Brief: Mahindra Comviva
7.5 Company Brief: DonRiver
7.6 Company Brief: eServGlobal
7.7 Company Brief: Fundamo/Visa
7.8 Company Brief: Gemalto
7.9 Company Brief: Monitise
7.10 Company Brief: TransferTo
7.11 Company Brief: SAP

Companies Referenced

Interviewed: DonRiver, eServGlobal, Monitise, SAP, TransferTo.

Profiled: Accenture, DonRiver, eServGlobal, Fundamo/Visa, Gemalto, Mahindra Comviva, Monitise, SAP, TransferTo.

Case Studied: mChek, ICICI, Nepal Telecom.

Mentioned: Access Group, Air Kenya, Aircel, Airtel Money, America Movil, Apple, Axiata Group, Axis (Indonesia), Banamex, Banco Inbursa, Banglalink, Bank Alfalah Limited (BAFL), Bank Andara, Bank of Kigali, Bankable Frontier Associates, BestBuy Europe, Bharti Enterprises, BICS (Belgacom International Carrier Service), BlackBerry, BPR KS, Capitec Bank, Celcom, Cell C, Celpay, Center for Financial Services Innovation, Central Bank of Kenya, Central Bank of Tanzania, CIMB Group, Cisco Systems, Citibank, ClairMail, Cognizant, DBBL (Dutch-Bangla Bank), Digicel, Econet Wireless, eMerit Solutions, Emma Bridgewater, Equity Bank, , Ericsson, Etisalat, Fat Face, FATF (Financial Action Task Force), Federal Deposit Insurance Corporation, Finaccess Nepal, First Eastern, FirstBank of Nigeria, Gabon Telecom, Globe, Google, GSMA, Guyana Telephone & Telegraph, G-Xchange Inc, HBD Venture Capital, HBL, HSBC, Ingenico, Intermedia, Intuit, Jimmy Choo, Kabira, Kenya Airways, Kyrgyz Investment Credit Bank, Laura Ashley, Lebara Australia, Lloyds TSB, Maldives Monetary Authority, Masary Egypt, MasterCard, Maxis, MCB Bank, MCell, Meditel Morocco, Mobile Money Network (MMN), Mode, MoneyBoxAfrica, Moneygram, Movida, MTN Group, Naivas Supermarket, NatWest, Netsize, Nokia, Norges Bank, Norwest Ventures, O2, Obopay India, OECD (Organisation for Economic Co-operation and Development), Omega Advisors, Oracle, Orange, Paperchase, PT Astra Graphia Information Technology (AGIT), Remgro Ltd, Royal Doulton, Safaricom, Safarilink, Sanlam, Sequoia Capital, Smart Money, Standard Bank, Starbucks, Sybase, Synovate, Taiwan Mobile, Tate, Telcel, Telenor & Tameer Bank, Telma, Tesco, The Carphone Warehouse, Tigo, TK Maxx, T-Mobile, Top Vision, Uchumi Supermarket, Uganda Telecom, Ulster Bank, Universal Music, University of Queensland, Urwego Opportunity Bank, Valimo, Venda, Verisign, VimpelCom, Vodacom, Vodafone, Warid, Wickes, World Bank, Yellow Pepper, Zain Group, ZKR (Zolotoya Korona Remittances).

Extra Info

‡ 8 key regions includes:

North America, Latin America, Western Europe, Central & Eastern Europe, Far East & China, Indian Subcontinent, Rest of Asia Pacific and Africa & Middle East

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Key Questions

  • What are the optimal conditions for ‘Mobile Money Incubators’? And which markets fulfil those conditions?
  • Why has international money transfer failed to gain traction in mobile?
  • What is the scale of the service provider revenue opportunity in mobile money?
  • What strategies should service providers implement to maximise take-up?
  • What key trends are shaping the growth of the mobile money market today?
  • How big is the mobile money market today? And how big will it be in five years’ time?

 

Any Questions about this report please contact us.

 

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Mobile Money Transfer & Remittances IFxl 2013-2018

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