Dallas, TX -- (SBWIRE) -- 03/27/2012 -- A large unbanked population supported by a developed mobile and banking system will be the fundamental driver for the growth of mobile-based financial services in Brazil. In Brazil the majority of mobile money initiatives are led by banks. The need to gain access to the potential market through the unbanked population is driving strategic business alliances between banks and mobile operators.
In Russia operators are placing a strong emphasis on making contactless mobile payment service available to users using the NFC standard, with NFC-enabled mobile payment trails initiated for making retail payments or on public transport. All three leading mobile operators in Russia, Megafon, MTS and Vimpelcom, collaborated to provide users with common access to each other’s mobile payment services.
In India the growth of mobile money services increased as regulatory changes were implemented. Brought into effect by the Reserve Bank of India (RBI), the new regulations increased the per-day mobile money transfer limit to INR50,000 (US$1000) from the existing limit of INR5,000 (US$100). The rapidly growing mobile money market in India is driving the established business correspondents (BCs) to directly offer mobile payment services.
China is an upcoming destination for mobile money services owing to its large mobile subscriber base and increasing government support. China’s UnionPay, a card network operator in China, in collaboration with China’s leading banks, wireless operators and handset manufacturers, is forming a mobile payment industry alliance. This alliance is expected to enhance mobile payment coordination across industries by providing a single open mobile payment platform to users.
The report provides top-level market analysis, information and insights, including:
- In-depth analysis of mobile money opportunities in the four BRIC countries: Brazil, Russia, India and China
- A comprehensive and country-specific analysis of BRIC mobile money market attractiveness, covering the key trends, drivers and challenges across the four countries
- Detailed mobile money market sizing and forecasts for 2011–2016 for each BRIC country including volume, value and average transaction size
- This report provides an extensive analysis of the mobile money market in the four BRIC nations – Brazil, Russia, India and China
- It provides current and forecast market size for the mobile money market in each of the BRIC nations
- It offers a detailed analysis of business, infrastructure, technology and consumer trends driving the growth of the mobile money market in each of the BRIC countries
- The report highlights the key challenges faced by the mobile money market
- It provides case examples of key mobile payment vendors offering mobile payment services
- The report details the new services launched by mobile banking operators in each of the BRIC nations
- It also provides insights into the future of the mobile money market and upcoming trends shaping the growth of the market in each of the BRIC countries
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