Strategy Analytics has released a new white paper on the mobile money opportunity in Latin America.
Mobile money incorporates a range of different technologies and business practices, but mobile funds transfer represents a particularly attractive opportunity for mobile operators. This includes international and domestic remittances of funds to and from individuals, as well as payments by individuals to businesses and disbursement of funds by governments and other agencies. Mobile operators bring some distinct advantages to mobile funds transfer, but are unlikely to succeed without strong partnerships and a favourable regulatory environment.
“Latin America is ripe for the domestic person-to-person mobile remittance services that have proved successful in some African and Asian countries. Low rates of access to financial services and high cellular penetration in many Latin American countries indicate that the region is underserved by conventional banking service providers, while access to mobile service is common.” Tom Elliott, Emerging Market Communications Strategies, Strategy Analytics