500m users of mobile money transfer services in 2014

Staff writer
28 Oct 2009
00:00

Mobile money transfer services will see users exceed 500 million globally by 2014, principally in developing countries, according to new analysis from Juniper Research.

However, the new report titled “Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014” also suggests that the many new mobile money services being announced will face political, regulatory or commercial challenges as they bring their services to market.

“Nonetheless, we see this as a growth market because of the ubiquity and convenience of mobiles which offer realistic prospects of financial service access for those without traditional banking services,” said Howard Wilcox, senior analyst at Juniper Research.

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