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Mobile Money

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17 stats that explore the growth of mobile money

By | Mobile Money | No Comments

Since MEF’s last Mobile Money eBulletin mobile proximity payments have taken a big step forward, in particular in China where Alipay and WeChat are becoming a popular option for in-store payments.

Elsewhere carrier billing is now a common-place channel for the purchase of digital goods and services as integration into app stores and other digital content markets rolls-out. The P2P transfer of money between mobile devices is also so well established in some growth markets that more money changes hands via mobile than any other way, including cash.

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mobile-money-services

Mobile money and interoperability in growth markets (part 2)

By | Featured Post, Mobile Money | No Comments

In part one Srinivas Nidugondi, Senior Vice President & Head of Mobile Financial Solutions at Mahindra Comviva discussed the importance of interoperablity between mobile money services and explained some of the barriers that are holding the market back.

Here he discusses the benefits and drivers of the mobile money space in this second instalment of a two-part article which also appears in MEF’s most recent free Mobile Money eBulletin.

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Modern smart mobile phone with on line shopping store graphic

Let’s make digital payments great again… with the browser

By | Featured Post, Mobile Money, Opinion | One Comment

Isn’t is delightful when your browser autofills a dauntingly long web form? Imagine if it could do that for payments. Well, it soon might. The W3C is working on what it calls a single ‘buy button for the web’. MEF Minute Features Editor Tim Green delved deeper…

Do you trust your browser? I’d wager you do. You probably store various passwords and log-ins inside it. You certainly fill it with bookmarks that reveal your most personal interests…

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Businesspeople using camera telephones

Mobile money and interoperability in growth markets (part 1)

By | Featured Post, Mobile Money | No Comments

Mobile money is a widespread business today available in two-thirds of low-and-middle-income countries. By the end of December 2016, 277 mobile money services were operating in 92 countries.

However, a majority of these mobile money operators provide closed loop services, which restricts the scope of digital transactions between users registered on diverse networks.

Srinivas Nidugondi, Senior Vice President & Head of Mobile Financial Solutions at Mahindra Comviva discusses the importance of interoperability between mobile money services in underpinning market growth in this first instalment of a two-part article which also appears in MEF’s most recent free Mobile Money eBulletin.

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Mobile Money Landscape Update

By | Featured Post, Mobile Money | 2 Comments

Mobile money continues to grow both in terms of usage and in the variety of options that are available to the consumer, bringing new and increasingly convenient ways to transact, peer-to-peer, in-store and online.

Check out the developments below in the latest Mobile Money Landscape graphic.

It categorises the Mobile Money ecosystem into in-store payments, online payments, P2P payments, direct operator billing, mobile wallets and mPos and includes a new area of the ecosystem, mobile-only banks.

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Online shopping concept. Mobile phone or smartphone with cart on the screen. 3d

Cart abandonment on mobile is the elephant in the m-commerce room

By | Featured Post, Mobile Money | No Comments

Cart abandonment is the bane of ecommerce retailers – but it is especially prevalent on mobile. MEF CEO Rimma Perelmuter explains why and offers some views on what businesses can do to combat such behaviour.

When thinking about a digital issue, it helps to frame it as a real-world one. So how are we to think about the problem of ‘cart abandonment’?

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Man Using Contactless Payment App On Mobile Phone In Cafe

18 statistics that explore the growth of mobile money

By | Analytics, Featured Post, Mobile Money

MEF’s recently published Mobile Money Report supported by Wirecard, asked 6,000 consumers in nine countries about their usage and attitudes towards mobile payments. It paints a detailed picture of how mobile money is taking hold in both growth and established markets and is available to download here for free.

The study found that 78 per cent of us had made a purchase by mobile in the previous six months, which suggests that all but the most tech-phobic consumers have now embraced the m-commerce habit. That figure is a global average. There are of course differences at the country level. China for example is leading the charge. The study reveals 88% of China’s citizens currently make mobile transactions.

Below we’ve picked out 18 statistics from the report that track the use of mobile money around the world.

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mobile money

Mobile transactions have moved to the mainstream, and its China that is leading the way

By | Analytics, Featured Post, Mobile Money

MEF’s recently published Mobile Money Report supported by Wirecard, asked 6,000 consumers in nine countries about their usage and attitudes towards mobile payments. It paints a detailed picture of how mobile money is taking hold in both growth and established markets. The headline statistic, that

The headline statistic, that two in five shoppers have used their mobile device to pay for items in-store, indicates just how much consumers are becoming habituated to replacing cash with a digital transaction.

Here, Christian Von Hammel-Bonton, EVP of Global Product Strategy at Wirecard discussed the report in more depth. The report can be downloaded here for free.

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