Juniper Research report reveals that mobile money transfer is a growth market opportunity despite near term issues
Hampshire, UK – 21st October 2009: According to new analysis from Juniper Research, consumer demand for mobile money transfer services will see users exceed 500 million globally by 2014, principally in developing countries.
Juniper Research's new report - 'Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014' - also suggests, however, that the many new mobile money services being announced will face political, regulatory or commercial challenges as they bring their services to market.
Howard Wilcox, Senior Analyst at Juniper Research, explained: "Every country has different regulatory structures, and its own set of local market conditions that service operators need to plan around. Nonetheless, we see this as a growth market because of the ubiquity and convenience of mobiles which offer realistic prospects of financial service access for those without traditional banking services."
In developing world economies often only a small percentage of the population has a bank account or a credit card. A larger percentage, however, have a mobile phone or access to one. The reality is that far more people in countries that are underbanked will have used a mobile phone than will have used an ATM or visited a bank branch.
Further findings from the Juniper Research Mobile Money Transfer 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
The report, launched globally today, contains comprehensive six year forecasting for all the key market parameters including users, transactions and values for national and international transfers, and sophisticated mobile financial services.
The Mobile Money whitepaper and further details of the study, 'Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014' can be freely downloaded from the Juniper website.
ENDS
About Juniper Research
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
For further information
John Levett
Juniper Research
T: +44(0)1256 830 002
E: john.levett@juniperresearch.com
