Emerging markets to have 709 million mobile money users by 2015
17 July 2011 |
The number of subscribers to mobile money services in emerging markets is estimated to reach 709 million over the next four years, according to Berg Insight.
The number of subscribers is predicted to grow from 133 million users in 2010 at a CAGR of 40%. The report predicts that the total value of mobile money transactions will grow to $215 billion in 2015 from $25 billion in 2010 at a CAGR of 54%.
Asia-Pacific is predicted to account for more than half of the total user base by the end of the forecasted period.
Financial institutions are beginning to realise the importance of mobile phones to reach new clients viewing mobile money services as high-priority, said Lars Kurkinen, telecoms analyst at Berg Insight. Mobile operators and third-party service providers are ramping up their efforts to target the huge unbanked populations in emerging markets.
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