Global mobile money transfer to exceed $65b by 2014

Staff writer
24 Nov 2009
00:00
News
Daily News

The international mobile money transfer market will be worth in excess of $65 billion in gross transaction values by 2014, according to a new report from Juniper Research.

This growth will be driven principally by migrant workers based in developed countries, but inhibiting factors include rising global unemployment and increased immigration controls by governments.

Also, the report revealed a new emerging sector for microcredits, saving accounts and insurance payments -- services that are entirely focused on developing countries where users do not have access to traditional banking or financial services.

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