Mobile Money Market Revenue, Opportunity, Segment and Key Trends 2017-2027
Population in the emerging economies are getting adaptive to the advanced technology. The usage of smart devices is getting traction in the developing regions with better communication facilities. Majority of the low-income group population in the emerging countries make transactions using informal mode of networks that are prone to theft and have high transactional costs. Mobile money is the innovative payment type that is bridging the gap by providing financial services through mobile devices, offering from simple person-to-person transfers to complex banking transactions. Mobile money is easy, secure, fast, and affordable way of making payment, transferring money, and performing other transactions using mobile phone. Person-to-person nature of payment is expected to experience growth in the mobile money market in the forecast period owing to the banks offering highlighted convenience of immediate transfers including withdrawals and deposits through mobile devices. Mobile money services are accessed through SMS, and multiple transaction modes such as direct mobile billing, SIM toolkit (STK) or unstructured supplementary service data (USSD), mobile web/wireless application protocol systems are also widely adopted.
Population in the emerging economies are getting adaptive to the advanced technology. The usage of smart devices is getting traction in the developing regions with better communication facilities. Majority of the low-income group population in the emerging countries make transactions using informal mode of networks that are prone to theft and have high transactional costs.
Mobile money is the innovative payment type that is bridging the gap by providing financial services through mobile devices, offering from simple person-to-person transfers to complex banking transactions. Mobile money is easy, secure, fast, and affordable way of making payment, transferring money, and performing other transactions using mobile phone.
Person-to-person nature of payment is expected to experience growth in the mobile money market in the forecast period owing to the banks offering highlighted convenience of immediate transfers including withdrawals and deposits through mobile devices. Mobile money services are accessed through SMS, and multiple transaction modes such as direct mobile billing, SIM toolkit (STK) or unstructured supplementary service data (USSD), mobile web/wireless application protocol systems are also widely adopted.
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<strong>Mobile</strong> <strong>Money</strong> <strong>Market</strong><br />
Population in the emerging economies are getting adaptive to the advanced technology. The usage of smart<br />
devices is getting traction in the developing regions with better communication facilities. Majority of the<br />
low-income group population in the emerging countries make transactions using informal mode of networks<br />
that are prone to theft <strong>and</strong> have high transactional costs.<br />
<strong>Mobile</strong> money is the innovative payment type that is bridging the gap by providing financial services through<br />
mobile devices, offering from simple person-to-person transfers to complex banking transactions. <strong>Mobile</strong><br />
money is easy, secure, fast, <strong>and</strong> affordable way of making payment, transferring money, <strong>and</strong> performing<br />
other transactions using mobile phone.<br />
Person-to-person nature of payment is expected to experience growth in the mobile money market in the<br />
forecast period owing to the banks offering highlighted convenience of immediate transfers including<br />
withdrawals <strong>and</strong> deposits through mobile devices. <strong>Mobile</strong> money services are accessed through SMS, <strong>and</strong><br />
multiple transaction modes such as direct mobile billing, SIM toolkit (STK) or unstructured supplementary<br />
service data (USSD), mobile web/wireless application protocol systems are also widely adopted.<br />
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<strong>Mobile</strong> <strong>Money</strong> <strong>Market</strong>: Drivers <strong>and</strong> Challenges<br />
Increasing awareness, urbanization <strong>and</strong> ever-changing technology encourage adoption of mobile money<br />
services fueling the growth of mobile money market. The ease of using an app or any other transaction<br />
mode for making a transaction is making people familiar to the innovations. People are increasingly<br />
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