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Latin America Telecom Insider / Vol. 3, No 2, Edition 5 - Operators Take Mobile Banking to the Masses, with 65% Annual Growth Expected until 2015
Pyramid Research, Inc, May 2011, Pages: 14
With mobile penetration in Latin America close to 100% and voice services barely showing organic growth, mobile operators are now open to investing resources in developing platforms that can create new markets or seek revenue lines that sustain growth. One of those areas is mobile financial services, including payments. Pyramid Research believes that Latin America has achieved the right conditions to smoothly increase the uptake of mobile financial services, including banking and payments. We expect that leading mobile operators, including Claro and Movistar, will develop commercial offerings over the next few months in order to participate in an emerging market where mobile operators have substantial upside. Currently, Pyramid Research estimates that around 18m users in Latin America use financial services from their mobile devices and that this number may rise to more than 140m by 2015.
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