Mobile Money Market Trends, Demand, Price, Analysis and Forecasts to 2022

According to Stratistics MRC, the Global Mobile Money market is estimated at $15.14 billion in 2015 and is expected to reach $140 billion by 2022 growing at a CAGR of 37.39% from 2015 to 2022. Increasing use of cashless transactions, high usage of mobile devices among users and technological advancements, crucial requirement to have far and wide access to financial solutions are the key factors driving the market growth during the forecast period. Less knowledge about the benefits related to services is the restraint to the market. Improving the virtual financial world in real life is opportunity for the market. Unidentified network coverage is the key challenge for the mobile money market.

Remote payments segment lead the market. This type of payment generally makes use of browser, mobile web/WAP, premium SMS, STK/USSD, and mobile applications and can be accessed over a subscriber’s mobile phone bill, prepaid payments, and debit or credit card payments. These payments are easier for consumers as they can be done through any type of mobile phone, ranging from a basic handset to a Smartphone. Asia-Pacific is projected to record the largest market values as well as anticipated to grow with the highest CAGR during the forecast period. This is because of the large-scale approval of mobile money services by the users along with the presence of the large number of mobile subscribers in the region.

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Some of the key players in the market are Monitise PLC, Bharti Airtel Limited, Paypal PTE. Ltd., Mahindra Comviva, Google Inc., Mastercard Incorporated, Orange S.A., Gemalto, Fidelity National Information Services, Inc., Vodafone Group PLC, Mahindra Comviva, PayPal, Amobee, Inc., Boku, Inc., Bango.net Limited, Judo Payments, Dwolla, Inc., Square, Inc., WePay, Inc. and Stripe.

Transaction Modes Covered:

Mobile Web/Wap Payments

Mobile...