Mobile money market Report 2019
- 1. Mobile Money Market - Global Forecast to 2019 Market Categorizes By Transaction Mode, Nature of Payment, Location, Type of Purchase, and By Industry (BFSI, Telecom & IT, Media & Entertainment, Healthcare, Retail, Travel & Hospitality, Transportation & Logistics, Others.
- 2. What is Mobile Money? Mobile Money is a cash management service available on the mobile phone/internet. It is mainly about facilitating money transfer for the global market. The service can also be used for reloading of few network units and for payment, of utility bills, goods & services. The service is available to both mobile and non mobile users. Mobile Money will also operate through authorized merchants who will facilitate the service on behalf of the partner banks.
- 3. How Mobile Money Works? Mobile Money utilizes with many more platforms and users. Ex: A person, hanging from the side of a mountain, receives a text message on his mobile. The message is from his bank, telling him that his account is about to be overdrawn. With just a few clicks on his mobile, he transfers funds from his savings account to his checking account. Problem solved. He finishes his climb, confident that his financial life remains in order. This scenario, though highly dramatized for effect, illustrates what many believe is the future of banking. It is mobile banking, or m-banking, which enables mobile users to access basic financial services even when they are miles away from their nearest branch or home computer/or any portable devices.
- 4. What about Mobile Money market? The demand for mobile money is steadily gaining momentum in the global market as a response to the rapid development of the telecommunications sector and the need for anytime banking sectors, especially in remote locations. Furthermore, the advent and penetration of 2G, 3G, and 4G networks has bolstered the opportunities for the mobile money or mobile money/payment market to flourish. Presently, Europe and North America accounted for the majority of the market share. So the Mobile Money Market research report delivers a definitive business overview and investigates the factors impacting the mobile money or mobile payment market. It encompasses growth forecasts, demand and supply trends affecting the industry, market drivers, and growth inhibitors of the mobile payment or mobile money market. Additionally, the report also highlights the significant market developments and the upcoming technological advancements. The report provides qualitative and quantitative analysis based on the information sourced. It also uses analytical tools such as Porter’s Five Force models and SWOT analysis to determine the future bargaining power of buyers, suppliers and consumers.
- 5. Scope of the Market Report: By Transaction Modes: NFC/Smart Cards (An NFC-enabled phone is provisioned with a payment application and payment account information (i.e., credit or debit card) issued by the consumer’s financial institution.) Direct Mobile Billing (Direct mobile billing, also called direct to bill, is a method of paying for merchandise by charging the purchase to a cellular telephone (mobile phone) account. At the time of checkout, the customer selects the mobile billing option on a smart phone and follows a two-factor authentication procedure.) Short Messaging Services (SMS): Short Message Service (SMS) is a text messaging service component of phone, Web, or mobile communication systems. It uses standardized communications protocols to allow fixed line or mobile phone devices to exchange short text messages. STK/USSD (Using SIM Toolkit (STK), developers can build an application that is stored on the Subscriber Identity Module (SIM) card and appears in the top-level menu of a feature phone. USSD is nearly as old as SMS, but is available only for external services in a limited number of markets. Like: Africa, Central America, Europe, India and Southeast Asia, it is generally very popular.) Others
- 6. Scope of the Market Report: Nature of Payments: Person To Person Person To Business Business To Person Business To Business By Access Locations: Remote Payments (Remote payments occurs when the retailer is remote to you and you purchase goods via SMS text message or mobile website with your mobile device.) Proximity Payments (Proximity payments are based on contactless near field communications (NFC) and allows consumers to purchase goods and service directly at the point-of-sale using their mobile phone.)
- 7. Scope of the Market Report: Nature of Payments: Airtime Transfers and Top-ups (Airtime Transfer lets you send airtime from your cell phone to any Telecom Prepaid or Top Up customer.) Money Transfers and Payments Merchandise and Coupons Travel and Ticketing Digital Products Transaction value by industry: BFSI Telecom and IT Media and Entertainment Healthcare Retail Travel and Hospitality Transportation and Logistics Others
- 8. Scope of the Market Report: By Popular Regions: North America (NA) Europe (EU) Asia Pacific (APAC) Middle East and Africa (MEA) Latin America (LA)
- 9. Value/Growth of Mobile Money Market: 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. 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.
- 10. Value and Growth of Mobile Money Market: 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. 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, 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 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.
- 11. Reasons to Buy This Report This report segments the market of mobile money into transaction modes and types of purchases covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across location types, nature of payments, and industry vertical in all the major regions. This report will help mobile money service providers better understand the competitors and gain more insights to better position one’s business. There is a separate section on competitive landscape, including mergers and acquisitions, and venture capital funding. Besides this, there are company profiles of the ten major players in this market. In this section, market internals are provided that can help place one’s company ahead of the competitors. The report helps the suppliers understand the pulse of the market. It provides information on key market drivers, restraints, and opportunities.
- 12. Source of The Market Report http://www.marketsandmarkets.com/Market- Reports/mobile-remittance-money-mcommerce-market- 577.html Inquiry Before Buying Buy Report Now