Mobile Money in Emerging Markets: Market Forecasts, Segment Analysis & Vendor Strategies 2021-2026

• Market SWOT Analysis: Extensive assessment of the main use cases for mobile money adoption, including the current viability of mobile money markets, challenges to future growth, and future outlook. This analysis includes four main areas:
  • Microinsurance
  • Microloans
  • Microsavings
  • Mobile Money Transfer
• Market Dynamics: Detailed analysis of the future evolution of the market and the challenges to further market growth.
• Juniper Research Competitor Leaderboards: Key player capability and capacity assessment for 23 vendors, split across two Competitor Leaderboards, for mobile money services and sophisticated mobile financial services. The vendors included are as follows:
  • Airtel
  • BIMA
  • bKash
  • Easypaisa
  • EcoCash
  • Equitel Money
  • eZ Cash
  • Grameenphone
  • LinkAja
  • MicroEnsure
  • Mon Cash
  • M-PESA
  • MTN Mobile Money
  • Ooredoo
  • Orange Money
  • Robi
  • Roshan M-Paisa
  • Smart Padala
  • Tigo
  • Tingg
  • Transfer/Telcel
  • uPaisa
  • Wave Money
• Benchmark Industry Forecasts: Forecasts for mobile money services, including microinsurance, microloans, microsavings and mobile money transfer, with data for user bases and transaction values, along with splits by our four key emerging market regions and the 15 countries listed below:
  • Bangladesh
  • Brazil
  • Colombia
  • Egypt
  • India
  • Indonesia
  • Kenya
  • Mexico
  • Nigeria
  • Pakistan
  • Philippines
  • South Africa
  • Sri Lanka
  • Tanzania
  • Thailand

1. What will the transaction value of mobile money services in emerging markets by 2026 be?
2. What role does Payments-as-a-Platform have in driving mobile money forward?
3. Which monetisation strategies will be most successful for service providers over the next five years?
4. What strategies can players implement to capitalise on the growing ecosystem?
5. Who are the leading mobile money providers in emerging markets?

Case Studied: Huawei.
 
Included in the Juniper Research Leaderboard: Airtel Money, BIMA, bKash, Easypaisa, EcoCash, Equitel Money, eZ Cash, Grameenphone, LinkAja, MicroEnsure, Mon Cash, M-PESA, MTN Mobile Money, Ooredoo, Orange Money, Robi, Roshan M-Paisa, Smart Padala, Tigo, Tingg, Transfer/Telcel, uPaisa, Wave Money.
 
Mentioned: Aga Khan Fund for Economic Development, Aixata Digital Innovation Fun, AliBaba, AliPay, Allianz X, Amazon, América Móvil, Ant Financial, AXA, Axiata, Banamex, Banco Inbursa, Bank of Africa, Bill and Melinda Gates Foundation, Blackrock, BNP Paribas, bolttech, Booking.com, BRAC Bank, CBA (Commercial Bank of Africa), CEFIF (CE Innovation Capital), Central Bank of Nigeria, Citibank, Clickatell, Commercial Bank of Africa, Department for International Development, Dialog, Digicel, DSTV, EcoLife, Endeavor Catalyst, Ericsson, EzyPesa, Fidelity, Financial Deepening Challenge Fund, Flutterwave, GCash, Go Beba, Goldman Sachs Asset Management, Google, Grab, GSMA, Halopesa, IFC (International Finance Corporation), JazzCash, Jumia, Juvo, Kenya Airways, KFC, Khushaal Beema, Kinnevik, Kopa Cash, LeapFrog Investment, Masoko, Mastercard, Meta, M-Fanisi, Milicom, Millicom, Money in Motion LLC, MoneyGram, M-Shwari, Nagad, Netflix, Omidyar Network and Opportunity International, PayMaya, Payoneer, Paytm, PayTv, Progression Africa, Radiomovil DIPSA, RBI (the Reserve Bank of India), Reserve Bank of Zimbabwe, Rocket Internet, Safaricom, Satya Capital, SBI (State Bank of India), Simbisa Group, Smart Money, SMARTCASH Payment Service Bank Limited, Smatoo, SoftBank Vision Fund, Sogebank, Standard Bank, Standard Chartered Bank, State Bank of Pakistan, Tameer Bank, TchoTcho Mobil, Telcel, Telenor Pakistan, Temenos, The Rise Fund, Timiza Akiba, TN Bank, TPesa, TPG Growth, Uber, UNCDF (United Nations Capital Development Fund), Velocity Capital, Visa, Vodafone, Voyager Innovations, WeChat, Western Union, WhatsApp, World Bank, World Remit, Yoma Bank, Zhima Credit, Zidisha.
 
 
 
 

Juniper Research’s Mobile Money in Emerging Markets forecast suite includes:

• Mobile money market split by four key sectors:
  • Microinsurance
  • Microloans
  • Microsavings
  • Mobile Money Transfer
• Forecast splits by:
  • Number of Users
  • Value of Spend
• Mobile Money Transfer Sector split by eight key transaction types:
  • Airtime Top-up
  • Bill Payment
  • Cash In
  • Cash Out
  • Domestic P2P
  • G2P
  • International P2P
  • Merchant Payment
• Interactive scenario tool allowing users to manipulate Juniper Research’s data for four different metrics.
• Access to the full set of forecast data of 91 tables and more than 12,500 datapoints.

Geographical splits: 15 countries

Harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables, overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the Interactive Scenario Tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a clients’ ability to both understand a particular market and to integrate their own views into the model.

The total value of mobile money transactions in emerging markets will exceed $870 billion in 2026, up from $555 billion in 2021; representing growth of almost 60%.

• This growth will be driven by the transition of mobile money vendors, such as MPESA, to the PaaP (Payments-as-a-Platform) model. This model enables mobile money vendors to offer their users access to third-party services such as eCommerce; creating additional revenue streams. PaaP is critical to increasing revenue for mobile money vendors, as smartphone adoption and user expectations grow. Mobile money vendors must focus on building their ecosystems now by establishing merchant partnerships to correctly leverage this opportunity.
• Microloans will be the fastest-growing segment within mobile money, with growth of over 180% over the next five years. Microloans are a key way in which mobile money service providers can increase their revenue by delivering banking-like services.
• Africa and the Middle East will dominate mobile money transaction values over the next five years; accounting for 56% of the global emerging markets value by 2026. Vendors in Africa must focus on expanding sophisticated mobile money services, such as microinsurance and microsavings, in order to best address this rapidly growing opportunity.