HOME Top Market Reports Mobile Money Market by Transaction Mode, Nature of Payment, Location, Type of Purchase, & by Industry (BFSI, Telecom & IT, Media & Entertainment, Healthcare, Retail, Travel & Hospitality, Transportation & Logistics, Others) - Global Forecast to 2019

Mobile Money Market by Transaction Mode, Nature of Payment, Location, Type of Purchase, & by Industry (BFSI, Telecom & IT, Media & Entertainment, Healthcare, Retail, Travel & Hospitality, Transportation & Logistics, Others) - Global Forecast to 2019

By: marketsandmarkets.com
Publishing Date: March 2015
Report Code: TC 3260

 

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The innovation in mobile phones has enormously changed the lives of the people all around the world. The proliferation of mobile phones spans across people of different age groups and leveraging the mobile phone for different usages. Over the years, the multi-functionalities of the mobile devices have diversified and intensified to become a comprehensive electronic device.  Pertaining to this, the incorporation of financial solutions with the mobile devices supplemented with affordable network connectivity as chiefly been responsible for transforming the usage of mobile devices merely from a communication device to a monetary transferring device. This has led to the magnificent setting of a new era in the mobile financial solutions, termed as ‘mobile money’.

Mobile money is also referred to as mobile payments or mobile transfers, and can be simply understood as the method for enabling money transactions over the mobile phone. Mobile money has led to the emergence of mobile wallets and digital payment techniques that help people leverage from virtual money transfers and payments. With mobile phones become an inseparable tool in one’s daily life, mobile money market provides the ultimate solution to enhance the customer’s in-store or online shopping; travel, and banking experiences by providing them with utmost convenience in payments and fund transfers. In addition, mobile money solutions have helped the mobile users in send and receive cross-border remittances, make bill payments, send and receive money over their mobile devices.

Further, mobile money has been the prime contributory for providing expansion in business revenues for the prime mobile money service providers which include Mobile Network Operators (MNOs), banks, payment processing agents, and payment platform providers. Mobile money has also leveraged these stakeholders in the mobile money ecosystem to retain customer loyalties, build and strengthen customer relations, reduce subscriber churn, uplift sales, and also expand its clientele base. With the widespread acknowledgement of mobile money services by users and merchants, mobile money services are broadly gaining traction across diverse industrial verticals in different regions.

Indispensable requirement to have ubiquitous access to financial solutions, manifestation of the mobile devices among the users, and creation of new business avenues for the stakeholders, are some of the factors driving the adoption of mobile money services. However, prevailing data security apprehensions, lack of awareness related to mobile money services, and ongoing switch to new handsets and interoperability among devices are some of the factors hindering the growth of the mobile money market. Moreover, the provision of enhanced flexibility among the mobile money services offers new opportunities to the mobile money service providers. While, diversified regulations and policies present across various regions still stands as a challenge faced by the vendors.

The market scenario for business intelligence platform is a substantial one with major acquisitions such as Clear2Pay by FIS, C-SAM, Inc. by MasterCard Incorporated, and Stackmob by PayPal. Various mobile money service providers such as Vodafone Gropu PLC, Monitise, Orange S.A., FIS, and Gemalto are offering enhanced mobile money solutions pertaining to the needs of users. Besides this, various payment security providers are developing innovative techniques of advanced data protection capabilities that can be incorporated to provide secured content and privacy protection in mobile financial transactions. In addition, the payment platform provides are aiding both the MNOs and banks with enhanced platforms to facilitate mobile money offerings. Thus, these stakeholders are cohesively adding significant value to the mobile money market. This is evident enough to portray that the market players have considerable interest to build market share in this space.

The report spans the overall structure of the mobile money market and provides premium insights that can help mobile money service providers such as MNOs, banks, payment processing agents, payment platform providers, and budding and independent mobile payment solution providers to identify the needs of the customers and mobile subscribers.

This report analyzes global adoption trends, future growth potential, key drivers, restraints, opportunities, challenges, and best practices in the mobile money market. The report also examines growth potential market sizes and revenue forecasts across different regions.

Scope of the report:

Mobile money market is a broad study of the global market and forecasts the market sizes and trends in the following sub-segments.

Market size by transaction modes:

  • NFC/Smart Cards
  • Direct Mobile Billing
  • Short Messaging Services (SMS)
  • STK/USSD
  • Others

Market size by nature of payments:

  • Person To Person
  • Person To Business
  • Business To Person
  • Business To Business

Market size by location:

  • Remote Payments
  • Proximity Payments

Market size by types of purchases:

  • Airtime Transfers and Top-ups
  • Money Transfers and Payments
  • Merchandise and Coupons
  • Travel and Ticketing
  • Digital Products

Mobile Money Transaction value by industry:

  • BFSI
  • Telecom and IT
  • Media and Entertainment
  • Healthcare
  • Retail
  • Travel and Hospitality
  • Transportation and Logistics
  • Others

Market size by region:

  • North America (NA)
  • Europe (EU)
  • Asia Pacific (APAC)
  • Middle East and Africa (MEA)
  • Latin America (LA)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Year
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Mobile Money Market Size Estimation
    2.2 Market Crackdown and Data Triangulation
    2.3 Market Share Estimation
           2.3.1 Key Data Taken From Secondary Sources
           2.3.2 Key Data Taken From Primary Sources
                    2.3.2.1 Key Industry Insights
           2.3.3 Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 37)
    4.1 Attractive Market Opportunities in the Mobile Money Market
    4.2 Top Three Transaction Modes
    4.3 Top Three Verticals and Regions (2014)
    4.4 Mobile Money Market (2019)
    4.5 Global Size, By Type of Purchase
    4.6 Mobile Money Regional Market
    4.7 Product Growth Matrix
    4.8 Life Cycle Analysis (2014), By Region

5 Market Overview (Page No. - 44)
    5.1 Introduction
    5.2 Evolution
    5.3 Market Segmentation
           5.3.1 Market, By Transaction Mode
           5.3.2 Market, By Nature of Payment
           5.3.3 Market, By Location
           5.3.4 Market, By Type of Purchase
           5.3.5 Mobile Money Market, By Industry
           5.3.6 Market, By Region
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Manifestation of Mobile Devices Among the Users
                    5.4.1.2 Indispensable Requirement to Have Ubiquitous Access to Financial Solutions
                    5.4.1.3 Creation of New Business Avenues for Stakeholders
                    5.4.1.4 Evolving Demographic Needs Across Geographies
                    5.4.1.5 Rising Use of Mobile Money Services Across Businesses
           5.4.2 Restraints
                    5.4.2.1 Prevailing Data Security Apprehensions
                    5.4.2.2 Lack of Awareness About the Benefits Related to Mobile Money Services
                    5.4.2.3 Ongoing Switch to New Handsets and Interoperability Among Devices
           5.4.3 Opportunities
                    5.4.3.1 Bridging the Virtual Financial World With Reality
                    5.4.3.2 Enhanced Flexibility Provisions Among the Mobile Money Services
           5.4.4 Challenges
                    5.4.4.1 Diversified Regulations and Policies Present Across Regions

6 Industry Trends (Page No. - 57)
    6.1 Introduction
    6.2 Value Chain Analysis  Functional Application of Mobile Money
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat From New Entrants
           6.3.2 Threat From Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Competitive Rivarly
    6.4 Mobile Money Technologies and Regulatory Trends
           6.4.1 Technologies and Platforms
                    6.4.1.1 Radio Frequency Identification (RFID)
                    6.4.1.2 Near Field Communication (NFC)
                    6.4.1.3 Digital and Mobile Wallets (Mwallets)
                    6.4.1.4 Mobile Web/ Wap Payments
                    6.4.1.5 SMS/PRSMS
                    6.4.1.6 Unstructured Supplementary Services Data (USSD)
                    6.4.1.7 Sim Tool Kit (STK)/ J2me / Brew
           6.4.2 Current Regulations and Strategic Initiatives
                    6.4.2.1 Anti-Money Laundering (AML)/ Combating Financing of Terrorism
                    6.4.2.2 Payment Service Directive (PSD)
                    6.4.2.3 Single Euro Payments Area (SEPA)
                    6.4.2.4 Gsm Association
                    6.4.2.5 Consultative Group to Assist the Poor (CGAP)
                    6.4.2.6 Know Your Customer (KYC)
                    6.4.2.7 Credit Card Accountability Responsibility and Disclosure (CARD) Act
    6.5 Mobile Money Service Provider Business Models
           6.5.1 Operator Centric Model
           6.5.2 Bank Centric Model
           6.5.3 Collaboration Model

7 Mobile Money Market Analysis, By Segments (Page No. - 69)
    7.1 Introduction
    7.2 Mobile Money Market Analysis, By Transaction Mode
           7.2.1 Introduction
           7.2.2 NFC/Smart Cards
           7.2.3 Direct Mobile Billing
           7.2.4 Mobile Web/Wap Payments
           7.2.5 Short Message Services (SMS)
           7.2.6 STK/USSD
           7.2.7 Others
    7.3 Mobile Money Market Analysis, By Nature of Payment
           7.3.1 Introduction
           7.3.2 Person to Person
           7.3.3 Person to Business
           7.3.4 Business to Person
           7.3.5 Business to Business
    7.4 Mobile Money Market Analysis, By Location
           7.4.1 Introduction
           7.4.2 Remote Payments
           7.4.3 Proximity Payments
    7.5 Mobile Money Market Analysis, By Type of Purchase
           7.5.1 Introduction
           7.5.2 Airtime Transfer and Top Ups
           7.5.3 Money Transfers and Payments
           7.5.4 Merchandise and Coupons
           7.5.5 Travel and Ticketing
           7.5.6 Digital Products

8 Mobile Money Market Analysis, By Industry Vertical (Page No. - 95)
    8.1 Introduction
    8.2 BFSI
    8.3 Telecom and IT
    8.4 Media and Entertainment
    8.5 Healthcare
    8.6 Retail
    8.7 Travel and Hospitality
    8.8 Transportation and Logistics
    8.9 Others

9 Geographic Analysis (Page No. - 106)
    9.1 Introduction
    9.2 North America
    9.3 Europe
    9.4 Asia-Pacific
    9.5 Middle East and Africa
    9.6 Latin America

10 Competitive Landscape (Page No. - 126)
     10.1 Overview
     10.2 Competitive Situations and Trends
             10.2.1 New Product Launches
             10.2.2 Agreements, Partnerships, Collaborations, and Joint Ventures, 2012–2014
             10.2.3 Mergers and Acquistions
             10.2.4 VC Funding

11 Company Profiles (Page No. - 140)
     11.1 Introduction
     11.2 Vodafone Group PLC
             11.2.1 Overview
             11.2.2 Products and Services
             11.2.3 Key Strategies
             11.2.4 Recent Developments
             11.2.5 SWOT Analysis
             11.2.6 MNM View
     11.3 Gemalto
             11.3.1 Business Overview
             11.3.2 Products and Services
             11.3.3 Key Strategies
             11.3.4 Recent Developments
             11.3.5 SWOT Analysis
             11.3.6 MNM View
     11.4 FIS
             11.4.1 Business Overview
             11.4.2 Products and Services
             11.4.3 Key Strategies
             11.4.4 Recent Developments
             11.4.5 SWOT Analysis
             11.4.6 MNM View
     11.5 Google, Inc.
             11.5.1 Business Overview
             11.5.2 Products & Services
             11.5.3 Key Strategies
             11.5.4 Recent Developments
             11.5.5 SWOT Analysis
             11.5.6 MNM View
     11.6 Mastercard Incorporated
             11.6.1 Business Overview
             11.6.2 Products & Services
             11.6.3 Key Strategy
             11.6.4 Recent Developments
             11.6.5 MNM View
     11.7 Bharti Airtel Limited
             11.7.1 Overview
             11.7.2 Products and Services
             11.7.3 Key Strategies
             11.7.4 Recent Developments
             11.7.5 MNM View
     11.8 Orange S.A.
             11.8.1 Business Overview
             11.8.2 Products and Services
             11.8.3 Key Strategy
             11.8.4 Recent Developments
             11.8.5 MNM View
     11.9 Monitise PLC
             11.9.1 Business Overview
             11.9.2 Products & Services
             11.9.3 Key Strategy
             11.9.4 Recent Developments
             11.9.5 MNM View
     11.1 Mahindra Comviva
             11.10.1 Business Overview
             11.10.2 Products & Services
             11.10.3 Key Strategy
             11.10.4 Recent Developments
             11.10.5 MNM View
     11.11 Paypal (Ebay, Inc.)
             11.11.1 Business Overview
             11.11.2 Products & Services
             11.11.3 Key Strategy
             11.11.4 Recent Developments
             11.11.5 MNM View

12 Appendix (Page No. - 180)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Introducing RT: Real Time Market Intelligence
     12.4 Available Customizations
     12.5 Related Reports


List of Tables (67 Tables)

Table 1 Global Mobile Money Transaction Value and Growth, 2012-2019 ($Billion, Y-O-Y %)
Table 2 Global Mobile Money Market Size and Growth, 2012-2019 ($Billion, Y-O-Y %)
Table 3 Manifestation of Mobile Devices is Enhancing the  Adoption of Mobile Money Services in  the Mobile Money Market
Table 4 Prevailing Data Security Apprehensions in the  Adoption of Mobile Money Services is Restraining the Market Growth
Table 5 Bridging of the Virtual Financial World With Reality is Paving the Way for Enhanced Growth Avenues and Opportunities for Mobile Money Vendors
Table 6 Diversified Regulations and Policies Present Across Regions is Challenging the Mobile Money Market
Table 7 Global Mobile Money Market Size , By Transaction Mode, 2012–2019 ($Billion)
Table 8 Global NFC/Smart Card-Based Transaction Mode Market Size, By Region, 2012-2019 ($Billion)
Table 9 Global Direct Billing-Based Transaction Mode Market Size, By Region, 2012-2019 ($Billion)
Table 10 Global Mobile Web/Wap Payments-Based Transaction Mode Market Size, By Region, 2012-2019 ($Billion)
Table 11 Global SMS-Based Transaction Mode Market Size, By Region, 2012-2019 ($Billion)
Table 12 Global STK/USSD-Based Transaction Mode Market Size, By Region, 2012-2019 ($Billion)
Table 13 Global Others-Based Transaction Mode Market Size, By Region, 2012-2019 ($Billion)
Table 14 Global Mobile Money Market Size, By Nature of Payment, 2012–2019 ($Billion)
Table 15 Global Person to Person Nature of Payment Market Size, By Region, 2012–2019 ($Billion)
Table 16 Global Person to Business Nature of Payment Market Size, By Region, 2012–2019 ($Billion)
Table 17 Global Business to Person Nature of Payment Market Size, By Region, 2012–2019 ($Billion)
Table 18 Global Business to Business Nature of Payment Market Size, By Region, 2012–2019 ($Billion)
Table 19 Global Mobile Money Market Size, By Location, 2012–2019 ($Billion)
Table 20 Global Remote Payments Market Size, By Region, 2012–2019 ($Billion)
Table 21 Global Proximity Payments Market Size, By Region, 2012–2019 ($Billion)
Table 22 Global Mobile Money Market Size, By Type of Purchase, 2012–2019 ($Billion)
Table 23 Global Airtime Transfer and Top Ups Market Size, By Region, 2012–2019 ($Billion)
Table 24 Global Money Transfers and Payments Market Size, By Region, 2012–2019 ($Billion)
Table 25 Global Merchandise and Coupons Market Size, By Region, 2012–2019 ($Billion)
Table 26 Global Travel and Ticketing Market Size, By Region, 2012–2019 ($Billion)
Table 27 Global Digital Products Market Size, By Region, 2012–2019 ($Billion)
Table 28 Global Mobile Money Transaction Value, By Industry Vertical, 2012-2019 ($Billion)
Table 29 Global Mobile Money Transaction Value in BFSI Industry, By Region, 2012-2019 ($Billion)
Table 30 Global Mobile Money Transaction Value in Telecom and IT  Industry, By Region, 2012-2019 ($Billion)
Table 31 Global Mobile Money Transaction Value in Media and Entertainment  Industry, By Region, 2012-2019 ($Billion)
Table 32 Global Mobile Money Transaction Value in Healthcare  Industry, By Region, 2012-2019 ($Billion)
Table 33 Global Mobile Money Transaction Value in Retail Industry, By Region, 2012-2019 ($Billion)
Table 34 Global Mobile Money Transaction Value in Travel and Hospitality Industry, By Region, 2012-2019 ($Billion)
Table 35 Global Mobile Money Transaction Value in Transportation and Logistics Industry, By Region, 2012-2019 ($Billion)
Table 36 Global Mobile Money Transaction Value in Other Industries, By Region, 2012-2019 ($Billion)
Table 37 Global Mobile Money Transaction Value, By Region, 2012-2019 ($Billion)
Table 38 Global Mobile Money Market Size, By Region, 2012–2019 ($Billion)
Table 39 NA: Market Size, By Transaction Mode, 2012-2019 ($Billion)
Table 40 NA: Market Size, By Nature of Payments, 2012-2019 ($Billion)
Table 41 NA: Market Size, By Location, 2012-2019 ($Billion)
Table 42 NA: Market Size, By Type of Purchase, 2012-2019 ($Billion)
Table 43 NA: Mobile Money Transaction Value, By Industry Vertical, 2012-2019 ($Billion)
Table 44 Europe: Mobile Money Market Size, By Transaction Mode, 2012-2019 ($Billion)
Table 45 Europe: Market Size, By Nature of Payments, 2012-2019 ($Billion)
Table 46 Europe: Market Size, By Location, 2012-2019 ($Billion)
Table 47 Europe: Market Size, By Type of Purchase, 2012-2019 ($Billion)
Table 48 Europe: Mobile Money Transaction Value, By Industry Vertical, 2012-2019 ($Billion)
Table 49 APAC: Market Size, By Transaction Mode, 2012-2019 ($Billion)
Table 50 APAC: Mobile Money Market Size, By Nature of Payments, 2012-2019 ($Billion)
Table 51 APAC: Market Size, By Location, 2012-2019 ($Billion)
Table 52 APAC: Market Size, By Type of Purchase, 2012-2019 ($Billion)
Table 53 APAC: Mobile Money Transaction Value, By Industry Vertical, 2012-2019 ($Billion)
Table 54 MEA: Market Size, By Transaction Mode, 2012-2019 ($Billion)
Table 55 MEA: Market Size, By Nature of Payments, 2012-2019 ($Billion)
Table 56 MEA: Market Size, By Location, 2012-2019 ($Billion)
Table 57 MEA: Mobile Money Market Size, By Type of Purchase, 2012-2019 ($Billion)
Table 58 MEA: Mobile Money Transaction Value, By Industry Vertical, 2012-2019 ($Billion)
Table 59 LA: Market Size, By Transaction Mode, 2012-2019 ($Billion)
Table 60 LA: Market Size, By Nature of Payments, 2012-2019 ($Billion)
Table 61 LA: Market Size, By Location, 2012-2019 ($Billion)
Table 62 LA: Mobile Money Market Size, By Type of Purchase, 2012-2019 ($Billion)
Table 63 LA: Mobile Money Transaction Value, By Industry Vertical, 2012-2019 ($Billion)
Table 64 New Product Launches, 2012–2014
Table 65 Agreements, Partnerships, Collaborations, and Joint Ventures
Table 66 Mergers and Acquisitions, 2012–2014
Table 67 VC Funding, 2012-2014
 
 
List of Figures (59 Figures)
 
Figure 1 Global Mobile Money Market: Research Methodology
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Break Down of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Data Triangulation
Figure 6 SMS  to Lead the Mobile Money Market in the Transaction Mode Segment
Figure 7 Person to Person Transaction to Lead the Mobile Money Market in the Nature of Payments Segment for the Forecast Period
Figure 8 Money Transfers and Payments Will Lead the Mobile Money Market in the Type of Purchase Segment By 2019
Figure 9 Global Mobile Money Transaction Value, By Industry: Telecom & IT to Lead the Market
Figure 10 Global Mobile Money Market Share, 2014: MEA Held the Maximum Market Share
Figure 11 Emerging Economies Offer Attractive Market Opportunities in the Mobile Money Market
Figure 12 Mobile Web/Wap Payments to Grow at the Fastest Rate Among the Top Three Transaction Modes in the Mobile Money Market
Figure 13 MEA Held the Maximum Market Share Among All the Regions in the Mobile Money Market (2014)
Figure 14 Money Transfers and Payments Will Dominate the Mobile Money Market in the Next Five Years
Figure 15 More Than 1/4th of the Market Will Come From the Top Two Purchase Types  in 2014-2019
Figure 16 Asia-Pacific Market to Grow Faster Than North America, Middle East and Africa
Figure 17 Mobile Money Market, Growth Matrix
Figure 18 Mobile Wallets to Play A Key Role in the Mobile Money Market
Figure 19 Rising Adoption of Mobile Money Services Across Various Industry Verticals is One of the Factors Driving This Market
Figure 20 Mobile Money, Value Chain Analysis: Major Role Played By Payment Platform Providers
Figure 21 Porter’s Five Forces Analysis (2014): Expansive Set of Players is Increasing  the  Competition in the Industry
Figure 22 Mobile Web/Wap Payments Will Have Highest Growth Rate in the Forecasted Period
Figure 23 Asia-Pacific is the Fastest Growing Region for NFC/Smart Cards Transaction Mode in Mobile Money
Figure 24 Mobile Web/Wap Payments Transaction Mode Will Have High Growth Rate in All Regions
Figure 25 SMS Transaction Mode Dominated the Mobile Money Market in 2014
Figure 26 Business to Person Will Have the Highest Growth Rate for the Forecasted Period
Figure 27 Person to Person Nature of Payment Dominated the Mobile Money Market in 2014
Figure 28 NFC is Propelling the Growth of Proximity Payments in the Mobile Money Market
Figure 29 Remote Payments Will Dominate the Mobile Money Market for the Forecasted Period
Figure 30 Merchandise and Coupons is the Fastest Growing Purchase Type in the Mobile Money Market
Figure 31 Airtime Transfer and Top-Ups; Money Transfers and Payments Dominated the Mobile Money Market in 2014
Figure 32 BFSI, Telecom and IT Will Continue to Dominate the Mobile Money Market During the Forecast Period
Figure 33 Geographic Analysis of Mobile Money Market, By Industry Vertical (2014)
Figure 34 More Than 40% of Mobile Money Transactions (Value) Will Take Place in BFSI, Telecom and IT Verticals
Figure 35 APAC Will Surpass MEA to Lead the Mobile Money Market By 2019
Figure 36 Geographic Snapshot – Asia-Pacific is Emerging as A New Hotspot
Figure 37 Asia-Pacific: an Attractive Destination for Mobile Money Market
Figure 38 APAC Market Snapshot: Increased Demand From the Mobile Money Users From the Developing Economies Will Drive the Market
Figure 39 APAC is the Fastest Growing Region in the Mobile Money Market
Figure 40 MEA Market Snapshot
Figure 41 Companies Adopted Mergers and Acquisitions as the Key Growth Strategy Over the Last Three Years
Figure 42 Google, Inc. Grew at the Fastest Rate Between 2009 and 2013
Figure 43 Mobile Money Market Evaluation Framework: Significant Number of Partnerships  Have Fueled Growth in 2013 and 2014
Figure 44 Battle for Market Share: Partnerships, Agreements, Collaborations, and Joint Ventures, and Venture Funding Were the Key Strategies
Figure 45 Geographic Revenue Mix of Top 5 Market Players
Figure 46 Vodafone Group PLC: Business Overview
Figure 47 Vodafone Group PLC: SWOT Analysis
Figure 48 Gemalto: Business Overview
Figure 49 Gemalto: SWOT Analysis
Figure 50 FIS: Business Overview
Figure 51 Google, Inc.: Business Overview
Figure 52 Google , Inc.: SWOT  Analysis
Figure 53 Mastercard Incorporated: Business Overview
Figure 54 Mastercard Incorporated: SWOT  Analysis
Figure 55 Bharti Airtel Limited: Business Overview
Figure 56 Orange S.A.: Business Overview
Figure 57 Monitise PLC: Business Overview
Figure 58 Tech Mahindra Limited: Business Overview
Figure 59 Ebay, Inc.: Business Overview

The mobile money market has competently established itself as one of the fastest growing markets globally and still exhibits growth of 44.6% between 2014 and 2019. With mobile phone usage becoming a consistent communication and content access medium, mobile money services are becoming highly popular among the people. From its onset, in the year 2007 mobile money has evolved from providing payment transactions though Short Messaging Services (SMS) and Direct Mobile Billing to the more contemporary Near Field Communication (NFC)/ Smart Card transactions.  Moreover, the Person To Person nature of payment continues to be the most widely used payment method in mobile money services, while both remote payments and proximity payments remain as the broadly used location-based payments. In addition, with the widespread acceptance of mobile money services across various regions, this market is gradually gaining traction among the industrial verticals of retail, travel and hospitality, healthcare, and transportation and logistics, whereby, BFSI and telecom prevail as the leading users of mobile money services. This has primarily been augmented with the widespread acceptance by the mobile users to leverage mobile money services and to increase their convenience obtained through faster monetary transactions over their mobile phones.

Today, the extensive usage of mobile phones has comprehensively redefined the lifestyle of the people. The ease in availability of feature-rich mobile phones supplemented with enhanced network connectivity has expansively enhanced the functionalities of the mobile device. The prominent enrichment in the mobile device usage is the provision of financial solutions over the mobile phone. These financial services are popularly referred to as ‘Mobile Money’ and have been instrumental in revolutionizing the mobile industry. With regards to mobile money, the mobile device has evolved from merely a communication device to a financial payments and monetary transactions medium.

Mobile money can be understood as a financial service which provides the mobile phone users visibility and accessibility to their monetary transactions merely over their mobile phones. With mobile phones becoming an integral part in the lives of the people, the advent of financial solutions has helped the users make faster financial transactions and enhance their overall monetary activities. Mobile money services primarily include transferring funds, send and receive money, make bill payments, deposit and withdraw money, send and receive remittances, recharge top-ups, make airtime transfers, pay insurance premiums, purchase movie and travel tickets, pay in-store merchants, and shop online among various others. Hence, the multitude of advantageous mobile money service provision leveraged by users has led to the widespread adoption of these financial services.

The emergence of mobile money services has also opened new business potentials for the chief stakeholders present in the mobile money ecosystem which include the Mobile Network Operators (MNOs), financial institutes such as banks, payment processing agents, and payment platform providers among various others. These services have broadly expanded the product portfolios for these stakeholders and have also been influential in boosting their revenues and market foothold to different markets. With the mounting usage of mobile money services by both banked and unbanked customers, these solutions have been chiefly responsible for diversifying and expanding their customer base across different regions and industrial verticals. Hence, the mobile money service in turn has been highly influential in empowering the business value and success rate for these stakeholders.

Manifestation of the mobile devices among the users, indispensable requirement to have ubiquitous access to financial solutions, creation of new business avenues for the stakeholders, evolving demographic needs across geographies, and rising use of mobile money services across businesses are some of the factors driving the adoption of mobile money services. However, prevailing data security apprehensions, lack of awareness related to mobile money services, and ongoing switch to new handsets and interoperability among devices are some of the factors hindering the growth of the mobile money market. Moreover, bridging of the virtual world with reality and provision of enhanced flexibility among the mobile money services offers new opportunities to the mobile money service providers. While, diversified policies and regulations present across various regions still stands as a challenge faced by these vendors.

Further, the major vendors involved in the mobile money market are Vodafone Group PLC, Gemalto, FIS, Google, Inc., MasterCard Incorporated, Bharti Airtel Limited, Orange S.A., Monitise, Mahindra Comviva, and PayPal (eBay, Inc.). Key strategies used by these vendors include partnerships and acquisition so as to increase their market share and global reach in the mobile money market.

The threat from new entrants is high for the existing suppliers in the mobile money market, mainly with the identification of underlying revenue potentials and increase in business revenues offered by the mobile money services for the budding mobile money vendors venturing into this market. However, the prevailing mobile money vendors face low threat from the substitute products as mobile money is fast gaining traction and acknowledgements by the users when compared to the existing traditional banking services. Presence of limited differentiation in mobile money product offerings in the market makes the bargaining power of suppliers low, whereas it gives higher bargaining power to the end-users, namely the mobile subscribers, and banked and unbanked customers.

The study is done to understand the structure of the mobile money ecosystem and is intended to help the mobile money service providers, namely MNOs, banks, payment processing agents, and payment platform providers among various others to better serve their clients which include customers and mobile subscribers. The overall market size in this study has been defined as the direct revenues that are being generated by MNOs, banks, and agents in the form of transaction fees and subscription fees charged to the customers. The overall mobile money market size has been further segmented into transaction mode, nature of payment, location, and type of purchase. The overall mobile money transaction value has been further segmented into industry verticals which include BFSI, telecom and IT, media and entertainment healthcare, retail, travel and hospitality, transportation and logistics, and others which include education; manufacturing; and government sector across various regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

The global mobile money market is expected to grow from $12.34 billion in 2014 to $78.02 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 44.6% during the forecast period from 2014 to 2019.

Global Mobile Money Market, 2014 - 2019 ($Billion, Y-O-Y %)

mobile money market

Source: Expert Interviews, Secondary Literature, and MarketsandMarkets Analysis

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