Global mobile money seen to reach $202 billion in 2012
Philippine Star – The magnitude of global mobile banking is forecast to hit $202 billion by 2012, and 60 percent of that will emanate from the Asia Pacific region.
Foreign consulting firm Edgar Dunn & Co. added that the Philippines, China, and India would be leading the way in the Asia Pacific region.
Lance Blockely, managing director of Edgar Dunn & Co. said that the Philippines is the global leader in mobile money transfer (MMT) and “the next few years will be a climate of explosive growth for mobile money transfers.”
By 2012, 364 million low-income, un-banked people could use mobile financial services. Likewise, the number of people without a bank account but with a mobile phone is estimated to grow from one to 1.7 billion.
This were some of the conclusion arrived at during the recently-concluded Mobile Money Transfer (MMT) Asia Pacific (APAC) conference in Manila, that brought in experts, providers and representatives of MMT practitioners from all over the world. Read the rest of the article on Philippine Star online.
cbalingit :: Dec.15.2009 :: News ::
