Mobile money transactions likely to reach $215bln by 2015

PanARMENIAN.Net - 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 percent to reach 709 million users in 2015, according to a new research report by Berg Insight.

The total value of Mobile money transactions will simultaneously grow at a CAGR of 54 percent from US$25 billion in 2010 to US$215 billion in 2015. Asia-Pacific is expected to become the most important regional market, accounting for more than half of the total user base.

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 US$16 billion worth of international money transfers will be received using mobile phones in 2015, up from less than US$1 billion in 2010. Berg Insight also forecasts that international airtime transfers will grow at a CAGR of 67 percent from US$130 million in 2010 to reach US$1.67 billion in 2015.

Google has finally shown off its long anticipated mobile payments platform at a show with the banking group, Citi, MasterCard, First Data and mobile network Sprint Nextel. The company expects that even things like boarding passes, tickets, ID and keys could be stored in Google Wallet.