Mobile Money Market

Mobile Money Market: Multiple Conducive Factors Create
Opportunity
Description:
Multiple Conducive Factors Create Opportunity-laden Environment for Mobile Money Market
The global mobile money market is on the cusp of a transformative change with growth
increasingly swinging toward emerging economies, says TMR in a new report. The global mobile
money market will derive growth from factors such as companies investing in context-based
marketing and real-time marketing to leverage mobile money. With smartphone and personal device
sales spiraling in emerging countries with an increasingly affluent consumer base, the need for more
inclusive banking is also simultaneously being felt. This presents a multi-billion dollar opportunity
for companies such as Bango.net Limited, Fortumo OÜ, Paypal, Inc. (PayPal Holdings, Inc.), Judo
Payments, and others. Mobile commerce, mobile banking, mobile wallets, and mobile payments all
come under the purview of the mobile money market.
The coming together of various conducive factors will create an opportunity-laden environment for
providers of mobile money services. Currently, service providers are focusing on cost effective
alternatives to reach out to a larger consumer base. However, consumers continue to remain wary
about security and privacy; the situation is compounded by regulatory complexity hampering the
long-term growth of the mobile money market.
The current generation of disparate platforms is also hindering the adoption of the mobile money
solution amongst consumers as they are required to manage multiple wallets for different
transactions/services. However, there is little doubt that with the unprecedented penetration of
mobile devices, these will increasingly serve as vehicles for financial transactions.
Get accurate market forecast and analysis on the Mobile Money Market. Request a sample to
stay abreast on the key trends impacting this market :
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1505
SMS Payments to Remain Most Popular Means of Conducting a Mobile Money Transaction
In the global mobile money market, by mode of payment, the SMS payment segment holds the
largest share. This is attributable to the convenience and efficiency that SMS-based payment
operations lend. The greatest advantage, however, is that SMS-based mobile money is compatible
with different connected devices such as tablets and smartphones.
In countries across MEA, APAC, and Europe, transactional payments by SMS are already popular
and there are no signs of their popularity fading through the forecasting horizon. However, the
market is also marked by a growing adoption of other payment methods such as mobile billing,
payment clients, and WAP-based payments. The future could see NFC and UUSD/STK modes
emerge in a big way to challenge the leading position of SMS payments.
Moreover, by type of purchase transaction, in 2014, the money transfers and payments segment was
the largest in the global mobile money market. Growth is projected to be the strongest in the airtime
transfers and top-ups segment through 2024. In 2015, sectors such as BFSI, energy and hospitality
collectively accounted for more than one-third of the revenue generated in the mobile money
market.
Europe to Claim Highest Share in Mobile Money Market until 2024

Geographically, the mobile money market saw the highest revenue coming in from Europe in 2015.
While North America trailed Europe in terms of revenue contribution, the region is expected to post
better growth as compared to Europe through the forecast period.
Collectively, the two regions are estimated to contribute more than fifty percent of the revenue to
the global mobile money market. The MEA region is anticipated to be the fastest-growing segment
during the forecast period due to rising Internet and tablet penetration and technological
advancements in the telecommunication sector. Real-time buying is gaining momentum in MEA,
which enables companies to develop targeted products and services on the basis of mobile usage
patterns. This is expected to create immense opportunities for the mobile money market in the
region.
Among the top service providers in the global mobile money market are: Bango.net Limited, Boku,
Inc., Dwolla, Inc., Fortumo OÜ, Judo Payments, Paypal, Inc. (PayPal Holdings, Inc.), Square, Inc.,
Stripe, and WePay, Inc.
Request Toc @ https://www.transparencymarketresearch.com/report-toc/1505
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business
information reports and services. The company’s exclusive blend of quantitative forecasting and
trend analysis provides forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use proprietary data sources and various
tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it
always reflects the latest trends and information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary research techniques to
develop distinctive data sets and research material for business reports.
Contact TMR
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email:sales@transparencymarketresearch.com
Website:http://www.transparencymarketresearch.com