One of the key take outs from the report is 53% of mobile Internet users in India, Kenya, Indonesia, Ghana and Nigeria have engaged in mobile banking and payment activities. This is especially high in Kenya where 96% of mobile Internet users have engaged in a financial activity via their mobile.
In addition, the report found that using mobiles for financial activities is also popular in rural areas, with almost equal penetration compared to urban usage in some countries.
The other key take out from the report is sending airtime credits is the most popular mobile finance activity, with 28% transferring credit. Airtime can be used as a form of currency to pay for goods and services.
Alistair Hill CEO of On Device Research said, The high levels of mobile finance interaction we found in the research demonstrates there is fantastic M-Commerce opportunities for local entrepreneurs and western companies looking to move into emerging markets.