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Wednesday, February 9, 2011

Mobile money users to double in next two years says report

A new report from Juniper Research says the number of active mobile money users globally will exceed 200 million by 2013. Under 100 million people use these services at the moment.

The report says much of this growth will come from developing countries, where users want a way to access basic financial services. In fact, by 2015, it’s expected that nearly 40% of active users will be in the Africa & Middle East region.

It also notes that the market has recently been boosted by person-to-person money apps in developed countries, enabling people to make casual occasional payments such as splitting the cost of a meal.

Howard Wilcox, Senior Analyst at Juniper Research, said “Our report reveals the sheer number of mobile money services, with more launches in the first eleven months of 2010 than in the whole of 2009. However, there are still many developing countries without these services, plus we're seeing typically at least three services per country.”

[Juniper Research whitepaper]

Dr Windsor Holden of Juniper Research is interviewed in this week’s podcast. Click here to listen - or download every podcast automatically by connecting to our RSS feed or finding them via iTunes.
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