Mobile Money Market : Development Insight and Manufacturers Challenge Competitors
The global mobile money market is on the cusp of a transformative change with growth increasingly swinging toward emerging economies, says TMR in a new report. The global mobile money market will derive growth from factors such as companies investing in contextbased marketing and real-time marketing to leverage mobile money. With smartphone and personal device sales spiraling in emerging countries with an increasingly affluent consumer base, the need for more inclusive banking is also simultaneously being felt. This presents a multibillion dollar opportunity for companies such as Bango.net Limited, Fortumo OĂœ, Paypal, Inc. (PayPal Holdings, Inc.), Judo Payments, and others. Mobile commerce, mobile banking, mobile wallets, and mobile payments all come under the purview of the mobile money market. The coming together of various conducive factors will create an opportunity-laden environment for providers of mobile money services. Currently, service providers are focusing on cost effective alternatives to reach out to a larger consumer base. However, consumers continue to remain wary about security and privacy; the situation is compounded by regulatory complexity hampering the long-term growth of the mobile money market. The current generation of disparate platforms is also hindering the adoption of the mobile money solution amongst consumers as they are required to manage multiple wallets for different transactions/services. However, there is little doubt that with the unprecedented penetration of mobile devices, these will increasingly serve as vehicles for financial transactions. Obtain Report Details @ http://www.transparencymarketresearch.com/mobile-money-market.html In the global mobile money market, by mode of payment, the SMS payment segment holds the largest share. This is attributable to the convenience and efficiency that SMS-based payment operations lend. The greatest advantage, however, is that SMS-based mobile money is compatible with different connected devices such as tablets and smartphones.