Friday, June 29, 2012

Mobile Payments Will Reach $245 Billion by 2014

According to 2011 data from Ernst & Young, mobile payments are expected to reach $245 billion in transaction value by by 2014. The actual forecast transaction is probably not so important. 


Neither is the forecast number of mobile money users are expected to total 340 million, equivalent to about five percent  of global mobile subscribers.


Perhaps the more-important issue are the categories of mobile money Ernst & Young believe offer revenue potential for mobile service providers globally. 



Mobile payment technologies and scenarios1

 SMSNFCMobile internet
Payment typePerson-to-person
Person-to-business
Business-to-person
Person-to-business
Business-to-business
Person-to-person
Person-to-business
Use caseDomestic remittance
International remittance
Branchless banking
Contactless payments
Identification- and marketingrelated services
In-app payments
Mobile wallet transactions
CharacteristicsPayment services for the
unbanked and underbanked
High levels of cross-industry collaborationExtension of online payment services
ExamplesSalary payments (Roshan, Afghanistan)
Money transfer (M-PESA, Kenya; Obopay)
Transit payments (Mobile FeliCa, Japan)Mobile wallet (Paypal, Zong, Starbucks)
Payment providers and enablersStart-ups
Mobile operators
Money transfer companies
Handset manufacturers
Card issuers
Mobile operators
Handset manufacturers
Merchants
Start-ups
Web services players
Start-ups
Mobile operators
Merchants
Mobile operator participationHighMediumLow

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