NEW YORK, Jan. 24, 2017 /PRNewswire/ -- Deployments for Unbanked Populations to Propel Regional Growth Opportunities for Telcos with Brazil and Colombia Setting Pace
The Latin American mobile money and payment services market is set to increase deployments for the unbanked population, which largely relies on cash and over-the-counter (OTC) transactions in place of electronic transactions. Currently, Brazil and Colombia have the majority of deployments for the unbanked, yet the partnerships between telcos and banks are dominant across Latin America. A number of factors separate those that have witnessed high growth in the mobile money services market from those that have only registered modest growth: density of agent networks, partnerships with merchants and other providers in the ecosystem, and mainstream financial services. There are specific use cases in which telcos can still play a role in mobile money services and dominate the market such as social support, physical goods and services, online goods and services, and churn reduction.
This study focuses on analyzing mobile carriers' initiatives regarding mobile money and payment services in Latin America, which includes Brazil, Argentina, Chile, Colombia, Mexico, and Peru.
The key focus areas of the research are as follows:
- Main trends (type of service, type of model, VAS, market evolution, ecosystem, benefits, regulations, success factors, role of telcos)
- Market assessment (payment channels used by the unbanked, banking transaction channels in Brazil, financial and non-financial transactions in Brazil, mobile services penetration, mobile services by customer type)
- Forecasts for 2017–2022 (registered and active users, registered and active users per population, registered users by country)
- Growth opportunities (standardization, advanced technologies, interoperability, cashless societies, single interface)
A look at the 16 current deployments for the unbanked in Latin America is also provided. Frost & Sullivan finds significant opportunity for growth in terms of the number of registered and active users across the region. By 2022, Latin America will have approximately 180.0 million registered mobile money and payment users with 91.8 million active users. In Brazil, Mexico, and Colombia, registered users are likely to reach 83.4 million, 39.6 million, and 17.8 million, respectively.
Key Questions This Study Will Answer
- What is the size of the total Latin American mobile payment services market? Is the market growing, how long will it continue to grow, and at what rate?
- What are the use cases and drawbacks of mobile payments? What are the key drivers and restraints impacting the growth of this market?
- What are the key trends and opportunities in the market?
Key Target Readers
- Service providers
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