Ovum's new report titled “Mobile money in emerging markets” finds the mobile payment market is still in its infancy, yet it has the potential to become a mass-market service.
While there is a range of alternative scenarios, Ovum predicts that the most likely scenario will be a market where service penetration reaches between 30% and 40% of the emerging market’s mobile users in 2014.
Where the industry resolves the market barriers more quickly than envisaged, an optimistic scenario is possible where strong user demand propels such services to penetrate between 60% and 70% of users in the emerging market in the same period.
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