• Latest

Mobile Financial Services in Developing Markets to Reach $500 Billion Transactions by 2021

7 November, 2016
China Liberal Education Holdings Limited Starts Higher Volume Production and Expands Domestic Sales Channels of All-in-one Machine AI-Space

China Liberal Education Holdings Limited Starts Higher Volume Production and Expands Domestic Sales Channels of All-in-one Machine AI-Space

19 December, 2020
Bell connecting Canadians at home for the holidays with free TV programming and no extra usage fees on residential Internet

Bell connecting Canadians at home for the holidays with free TV programming and no extra usage fees on residential Internet

18 December, 2020
TEMSA: Bus exports to be delivered to the heart of the European Union

TEMSA: Bus exports to be delivered to the heart of the European Union

18 December, 2020
EU tries to reshape the rules of the Internet

EU tries to reshape the rules of the Internet

17 December, 2020
Matterport Brings 3D Capture to the iPhone

Matterport Brings 3D Capture to the iPhone

5 May, 2020
NASA Administrator Statement on Agency Coronavirus Status

NASA Administrator Statement on Agency Coronavirus Status

15 March, 2020
Technology Supports Social Distancing in age of Covid-19

Technology Supports Social Distancing in age of Covid-19

15 March, 2020
Second Staff Exchange Between EU CyberSecurity Organizations

Second Staff Exchange Between EU CyberSecurity Organizations

19 February, 2020
Iranian Professor on the Iran-US escalation: “Iranians expected to hear a clear and steadfast condemnation from Turkish authorities over Soleimani’s death”

Iranian Professor on the Iran-US escalation: “Iranians expected to hear a clear and steadfast condemnation from Turkish authorities over Soleimani’s death”

16 February, 2020
Badly Trained Spam – Only A Quarter of Brits Train their Spam Filter

Badly Trained Spam – Only A Quarter of Brits Train their Spam Filter

6 February, 2020
Year 2020: What is the Status of 5G Rollout Worldwide and Turkey

Year 2020: What is the Status of 5G Rollout Worldwide and Turkey

31 January, 2020
Turkish Competition Authority’s Android Decision

Turkish Competition Authority’s Android Decision

18 December, 2019
  • About Us
  • Contact Us
  • Homepage
  • Latest News
  • News Widget
  • Privacy Policy
Wednesday, September 27, 2023
Social icon element need JNews Essential plugin to be activated.
  • Login
  • Register
Globaltelconews
Advertisement
  • IT
  • Telecom
  • Mobile
  • e-Commerce
  • Fintech
  • Security
  • New Tech
  • About
    • About Us
    • Contact Us
    • Privacy Policy
No Result
View All Result
  • IT
  • Telecom
  • Mobile
  • e-Commerce
  • Fintech
  • Security
  • New Tech
  • About
    • About Us
    • Contact Us
    • Privacy Policy
No Result
View All Result
Globaltelconews
No Result
View All Result

Mobile Financial Services in Developing Markets to Reach $500 Billion Transactions by 2021

globaltelconews-admin by globaltelconews-admin
7 November, 2016
in English
0

Hampshire, UK: 7th November 2016: A new study from Juniper Research has found that the total transaction value of Mobile Financial Services in emerging markets (including domestic money transfers, deposits on loans, insurance products, and savings accounts) will approach $500 billion in 2021, up from an estimated $198 billion this year.

Junipers latest research, Mobile Financial Services in Emerging Markets: Money Transfer, Loans, Savings & Insurance 2016-2021 , argued that by introducing insurance offerings, operators had the opportunity to substantially reduce churn levels. It cited the example of Telenor Suraksha life insurance scheme in India, which has seen nearly 50% of its 45 million user base sign up since its December 2015 launch.

According to research author Lauren Foye, The model underpinning the Surakhsa scheme requiring consumers to top-up airtime on a monthly basis to receive the insurance cover should be widely replicated. It enables operators to maintain average revenue levels within low-income, low-ARPU prepaid environments and allows consumers to reap the benefits of microinsurance cover.

However, the research cautioned that a key challenge would be tailoring financial service products to the needs of individual markets. It cited the case of several early implementations of mobile financial services in markets such as India, the Philippines and Nigeria achieving limited adoption where products were often ill-suited to their target audience.

Opportunity in New Markets

Nevertheless, the research highlighted the Asia-Pacific as a region which, while currently under-served due in part to the complexity of national regulations, has strong potential for future product launches.

Whilst restrictions have been in place previously, largely due to cultural beliefs, Juniper found that attitudes are changing in under-served regions, with Indonesia acquiring its first ever microloans product Kashmi in 2017. Additionally, specialised products have been launched to address religious requirements, such as Achuwat in Pakistan which provides interest free loans to meet Sharia requirements.

Previous Post

Connected Appliance Shipments to Pass 200m p.a. by 2021 as Vendors Develop eCommerce Strategies

Next Post

Smartphone VR to Claim Over Half of VR Device Shipments by 2021, But Only 7% of Hardware Revenues

Next Post

Smartphone VR to Claim Over Half of VR Device Shipments by 2021, But Only 7% of Hardware Revenues

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Navigation

  • Authors
  • Author Login
  • Author Application
  • Advertisement
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Sitemap
Social icon element need JNews Essential plugin to be activated.

© 2018 Globaltelconews.com

No Result
View All Result
  • IT
  • Telecom
  • Mobile
  • e-Commerce
  • Fintech
  • Security
  • New Tech
  • About
    • About Us
    • Contact Us
    • Privacy Policy

© 2018 Globaltelconews.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In