• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Smartphones Help Propel Mobile Money Transfer Market

June 23, 2015

Smartphones Help Propel Mobile Money Transfer Market New market research is pointing to a huge opportunity in mobile money transfers, particularly in Africa. In a new report, Juniper Research suggests that mobile service providers stand to make $2 billion from this area this year, and that annual revenues will grow to reach $4 billion by 2018.

In Africa, service providers like MTN Uganda and Vodacom Tanzania are already making 10 percent of their revenues from mobile money transfers, while the leading company in this area, Safaricom with its MPESA service, made $330 million last year.

Juniper Research credits the booming numbers to cross-border agreements remittance agreements, both between service providers and governments; and also to the increasing deployment of smartphone applications, which are to some extent anticipating greater smartphone adoption going forward.

While the report also identifies obstacles in the areas of inappropriate marketing and fees, the overall trends are encouraging. And as more users around the world perform banking transactions on their mobile devices, and major mPayment platforms further popularize and normalize such transactions, we might expect to see further propulsion in the global mobile money transfer market going forward.

Related News & Articles

Chromebook Integrations, Payment Card Trials Bode Well for Fingerprint Cards

Fime Opens EMV Testing Lab in India

IDEX Amplifies Biometric Card Buzz at Money20/20 Asia

Primary Sidebar

Register For the Next Virtual Identity Summit

Travel & Hospitality Biometrics Online Summit
Register now!

Tweets

Sponsored Links

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi's product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Selfie Onboarding Specialist Names New CFO
  • AU10TIX Provides Selfie Onboarding for Israeli Digital Bank
  • ‘Meta Pay’ Plans Hint at Digital ID Applications
  • Google Switches to New In-display Fingerprint Sensor for Upcoming Pixel 6a
  • Meta Deactivates Instagram Filters for Users in Texas and Illinois

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 MobileIDWorld