Sep
21

400 million mobile money users by 2018

Among the many mobile money services Barclays Pingit is just one example.

The bank has recently updated its platform and has been recently showing TV ads to enhance awareness.

Such high profile promotion is unsurprising given that Juniper Research expects the number of mobile money service users to reach 400 million by 2018 from the 150 million presently.

Deployment of regional services like Pingit is going to surge the growth and international operators are expected to launch group-wide regular products rather than intermittent products. However, adoption could be slowed by taxes applicable on mobile money platforms, as recently happened in Uganda and Kenya.

As per Dr Windsor Holden, Report Author at Juniper Research, although the Kenyan impact has been limited thus far one has to bear in mind that it has the most mature mobile money market.

Service providers have been advised to totally control partner network and infrastructure before launch.

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