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Mobile Money in Emerging Markets
Berg Insight AB, May 2011
Mobile financial services are causing a significant transformation in the financial services, payments and international remittance industries. The mobile phone is changing how customers conduct their financial activities, leading to an extended reach and increased operational efficiency among financial service providers in emerging markets. In the longer term mobile money services are facilitating the increasing share of digital transactions in emerging markets, where cash transactions still dominate. A growing share of international remittances is being electronically disbursed into mobile money accounts. Mobile phones are also being increasingly used to send remittances.
“Mobile Money in Emerging Markets” is a comprehensive report analysing the latest developments on the mobile money and remittances markets.
This strategic research report provides you with 130+ pages of unique business intelligence and expert commentary on which to base your business decisions.
This report answers the following questions:
- How can mobile technology be applied to extend the reach of today's online banks?
- What is the true potential for providing mobile financial services to the unbanked population?
- What are the key challenges, critical success factors and best practices for operating mobile money services?
- Who are the most important players to watch in the mobile banking and payments industry?
- Who are the leading mobile money platform providers emerging markets?
- What are the business opportunities for mobile operators in international money transfer?
- What are the strategies of the leading providers of international airtime transfers?
- How are financial institutions responding to the entry of mobile network operators in the financial services industry?
This report will allow you to:
- Profit from 30 new executive interviews with market leading companies.
- Learn from valuable insights about successful mobile money deployments.
- Identify the leading mobile money platform providers in emerging markets.
- Understand the ecosystem required for providing financial transaction services in the mobile environment.
- Realize how mobile phones are being used for subscriber-to-subscriber financial transactions within and between countries.
- Predict the number of users and transaction volumes for mobile money services until 2015.
Who should buy this report?
"Mobile Money in Emerging Markets" is the foremost source of information about the status, future trends and technology developments on this market. Whether you are a bank, telecom vendor, mobile operator, investor, consultant or application developer, you will gain valuable insights from this in-depth research.
Executive summary
1. Mobile money in emerging markets
1.1 Introduction
1.1.1 The mobile as an enabler of branchless banking and electronic payments
1.1.2 Overview of mobile money service providers
1.1.3 Developments in the mobile money field
1.2 Overview of mobile money services
1.3 Evolving to a mature system
1.4 Mobile money fundamentals and success factors
1.4.1 Network effects in mobile money systems
1.4.2 Internal priority
1.4.3 Reaching the target customer groups
1.4.4 Building, incentivising and managing agent networks
1.5 Case studies
1.5.1 Mobile money in South Africa
1.5.2 The evolving mobile money ecosystem in Kenya
2. The mobile financial services industry
2.1 Technology vendors
2.1.1 The changing competitive landscape
2.1.2 General development trends
2.2 Mobile money service providers
2.2.1 Mobile network operators
2.2.2 Financial institutions
2.2.3 Third party service providers
3. International mobile remittances
3.1 Global money transfer flows
3.2 Cost of remitting money
3.3 Success factors for remittance services
3.4 The consumer-to-consumer remittance market
3.5 Remittance methods
3.5.1 Structure of a remittance operation
3.5.2 Agent networks
3.5.3 Informal value transfer systems
3.5.4 Regulations
3.5.5 Funds capture interfaces and payment instruments
3.5.6 Funds disbursement
3.6 Mobile remittance players
3.6.1 Money transfer offices
3.6.2 Mobile network operators
3.6.3 Platform providers and third parties
3.6.4 Financial institutions and payment processing networks
3.6.5 International airtime transfer companies
3.7 Case studies
3.7.1 Western Union is putting its bets on mobile money transfers
3.7.2 MoneyGram offers international mobile money transfers
3.7.3 MasterCard's MoneySend service goes mobile
3.7.4 Remittances to M-PESA wallets in Kenya
4. Forecasts and conclusions
4.1 Mobile money in emerging markets
4.1.1 Deployments launched by service provider
4.1.2 Deployments launched by region
4.2 Mobile money forecasts and analysis by region
4.2.1 Africa
4.2.2 Asia
4.2.3 Latin America
4.2.4 Eastern Europe and Western Asia
4.3 Mobile money technology vendors
4.3.1 The changing competitive landscape
4.3.2 Technology platform development trends
4.4 Mobile money service providers
4.4.1 Current focus and execution of services
4.4.2 Service provider development trends
4.5 Mobile remittances
4.5.1 Sending and receiving remittances with a mobile phone
4.5.2 Forecasts and analysis
4.5.3 Mobile remittance development trends
4.6 International airtime transfer
4.6.1 Service provider market shares
4.6.2 Forecasts and analysis
5. Company profiles
5.1 Mobile money platform providers
5.1.1 Comviva
5.1.2 Fundamo
5.1.3 Gemalto
5.1.4 Halcom
5.1.5 MasterCard
5.1.6 M-Com (Fiserv)
5.1.7 Monitise
5.1.8 MoreMagic
5.1.9 ProgressSoft
5.1.10 S1 6
5.1.11 Sybase 365 (SAP)
5.1.12 Utiba
5.1.13 YellowPepper
5.1.14 ZTE
5.2 Mobile value transfer providers
5.2.1 eServGlobal and BICS
5.2.2 Ericsson
5.2.3 Ezetop
5.2.4 Luup
5.2.5 MoneyGram
5.2.6 TransferTo
5.2.7 Visa
5.2.8 Western Union
Glossary
List of Figures
Figure 1.1: MNOs entry to financial services
Figure 1.2: Evolution of mobile banking services
Figure 1.3: Mobile money deployments in emerging markets (2005–2010)
Figure 1.4: Examples of basic and partnership-enabled mobile money services
Figure 1.5: Positive feedback loops affecting the value of mobile money systems
Figure 1.6: Marketing and customer adoption
Figure 1.7: Mobile and internet banking customers at Absa bank (2008–2010)
Figure 1.8: M-PESA growth statistics (2007–2010)
Figure 2.1: Top emerging market MFS vendors by number of deployments (March 2011)
Figure 2.2: Mobile money deployments by MNO (March 2011)
Figure 3.1: Remittance flows to different regions in US$ billion (2007–2012)
Figure 3.2: Top 12 developing world recipient countries (2010)
Figure 3.3: Average cost for sending US$ 200 between different countries (2010)
Figure 3.4: Top factors influencing remittance service provider choice (2006)
Figure 3.5: Factors inhibiting use of formal channels for remittance transfers (2009)
Figure 3.6: International C2C remittance industry market shares (2010)
Figure 3.7: Key financial indicators of top remittance companies (2010)
Figure 3.8: Remittance value chain
Figure 3.9: Illustration of a remittance operation
Figure 3.10: Funds capture instruments and interfaces
Figure 3.11: Funds disbursement channels
Figure 3.12: Overview of the mobile remittance market (2010)
Figure 3.13: Remittance service outlets in Kenya (2010)
Figure 4.1: Distribution of deployments by type of service provider (March 2011)
Figure 4.2: Major mobile money deployments in emerging markets (2010)
Figure 4.3: Regional distribution of mobile money deployments (March 2011)
Figure 4.4: Mobile money volumes in Africa (2010–2015)
Figure 4.5: Mobile money volumes in Asia (2010–2015)
Figure 4.6: Mobile money volumes in Latin America and the Caribbean (2010–2015)
Figure 4.7: Mobile money volumes in Eastern Europe and Western Asia (2010–2015)
Figure 4.8: Overview of MFS solution providers
Figure 4.9: Mobile international remittance transfer forecast (2010–2015)
Figure 4.10: Remittance service cost comparison
Figure 4.11: International airtime transfer volumes (February 2011)
Figure 4.12: International airtime transfer volumes (2010–2015)
Berg Insight predicts 709 million mobile money users in emerging markets by 2015
According to a new research report by Berg Insight, the number of mobile money subscribers in emerging markets is forecasted to grow from 133 million users in 2010 at a compound annual growth rate (CAGR) of 40 percent to reach 709 million users in 2015. The total value of mobile money transactions will simultaneously grow at a CAGR of 54 percent from US$ 25 billion in 2010 to US$ 215 billion in 2015. Asia-Pacific is expected to become the most important regional market, accounting for more than half of the total user base. “In developing regions such as Africa the mobile phone will become the primary digital channel for people to conduct financial services in the coming years. Financial institutions are beginning to realize the importance of mobile phones to reach new clients viewing mobile money services as high-priority strategic projects. Also mobile operators and third party service providers are ramping up their efforts to target the huge unbanked populations in emerging markets”, said Lars Kurkinen, Telecom Analyst, Berg Insight. “The number of live mobile money services has thus grown at an explosive rate during the past two years and recently reached as many as 300 commercial deployments.” The report also identifies mobile international value transfer as a high-growth market and an important revenue source for mobile industry players. Berg Insight estimates that US$ 16 billion worth of international money transfers will be received using mobile phones in 2015, up from less than US$ 1 billion in 2010. Berg Insight also forecasts that international airtime transfers will grow at a CAGR of 67 percent from US$ 130 million in 2010 to reach US$ 1.67 billion in 2015
- Comviva
- Fundamo
- Gemalto
- Halcom
- MasterCard
- M-Com (Fiserv)
- Monitise
- MoreMagic
- ProgressSoft
- S1 6
- Sybase 365 (SAP)
- Utiba
- YellowPepper
- ZTE
- eServGlobal and BICS
- Ericsson
- Ezetop
- Luup
- MoneyGram
- TransferTo
- Visa
- Western Union
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