The number of mobile money subscribers in emerging markets is forecasted to grow from 133 million users in 2010 at a compound annual growth rate (CAGR) of 40 per cent to reach 709 million users in 2015, said a report.

The total value of mobile money transactions will simultaneously grow at a CAGR of 54 per cent from $25 billion in 2010 to $215 billion in 2015, added the new research report by Sweden-based Berg Insight, a leading telecom industry intelligence provider.

Asia-Pacific is expected to become the most important regional market, accounting for more than half of the total user base, the report said.

“In developing regions such as Africa the mobile phone will become the primary digital channel for people to conduct financial services in the coming years,” said Lars Kurkinen, telecom analyst, Berg Insight.

“Financial institutions are beginning to realize the importance of mobile phones to reach new clients viewing mobile money services as high-priority strategic projects. Also mobile operators and third party service providers are ramping up their efforts to target the huge unbanked populations in emerging markets.”

“The number of live mobile money services has thus grown at an explosive rate during the past two years and recently reached as many as 300 commercial deployments,” he added.

The report also identifies mobile international value transfer as a high-growth market and an important revenue source for mobile industry players.

Berg Insight estimates that $16 billion worth of international money transfers will be received using mobile phones in 2015, up from less than $1 billion in 2010.

Berg Insight also forecasts that international airtime transfers will grow at a CAGR of 67 per cent from $130 million in 2010 to reach $1.67 billion in 2015. – TradeArabia News Service