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Cambridge, Massachusetts - April 28, 2011 - With as many as 2.3 billion mobile finance users in APAC by 2015, mFinance will become a service that will forever change APAC’s financial behavior by introducing innovative business models, partnerships and best practices, according to a new report from Pyramid Research (www.pyr.com).
Up to 2.3 Billion Mobile Finance Users in APAC by 2015 outlines the existing mFinance services in Asia-Pacific, with a focus on insights in emerging markets rather than in developed markets. The report then examines regional market dynamics to reveal the potential mFinance has to meet the demand of the considerably underserved population. It concludes with two case studies from the advanced and emerging markets in the region where mFinance has gained traction, as well as a discussion of the initiatives operators have taken to promote mFinance services.
Download an excerpt of this report here.
Purchase the report here.
As the largest mobile market in the world, Asia-Pacific accounted for 48.5% of the global mobile subscribers in 2010. Due to its size, the APAC region has the potential to comprise 2 billion mFinance users. “In emerging markets, operators know that their subscriber base overlaps with the segment of the population that lacked access to financial services,” says Daniel Yu, Senior Analyst at Pyramid. “Operators have attempted to address this demand by adding services such as mobile remittances, mobile top-up, and air time transfer through SMS-enabled platforms, therefore instantly bringing banking services to the lower-income segment,” he adds.
“From a demand perspective, mFinance possesses elements that can propel mobile usage to another dimension, adding another vital aspect of human interaction to a mobile phone,” indicates Yu. “However, the benefit isn’t just one-sided, because mFinance embraces the possibility to become an agent to reinforce an operator’s market position, improve business performance and further cultivate user loyalty,” he notes.
“Operators in developing markets will continue to benefit from the trust that end users have in their services,” says Yu. “While operators in developed markets will benefit from the trust factor among users who are already well versed in electronic payment options. Developed markets, however, will require technology standardization in order to realize their market potential,” Yu adds.
Up to 2.3 Billion Mobile Finance Users in APAC by 2015 is part of Pyramid Research's Telecom Insider Report Series and is priced at $595. Download the excerpt here. The report can be purchased online here. For more information please contact us at info@pyr.com.
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About Pyramid Research
Pyramid Research (www.pyr.com) offers practical solutions to the complex demands our clients face in the telecommunications, media and technology industries. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies and emerging business models, powered by the bottom-up methodology of our market forecasts for over 100 countries - a distinction that has remained unmatched for more than 25 years. As the telecom research arm of the Light Reading Communications Network, Pyramid Research works with Heavy Reading, providing the communications industry's most comprehensive market data, trusted research and insightful technology analysis.
About Light Reading (www.lightreading.com)
Founded in 2000, the Light Reading Communications Network is the world's leading research-led integrated media company serving the global communications market. Lightreading.com is the ultimate source for technological and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. Light Reading's research arms, Heavy Reading and Pyramid Research, provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world. Light Reading produces nearly 20 targeted communications events including TelcoTV, and TelcoTV Asia, Ethernet Expo New York and Ethernet Europe, and The Tower Summit @ CTIA, as well as focused one-day events tailored for cable, mobile, and wireline executives in the US, Europe, India, and China. Light Reading was acquired by United Business Media in August 2005 and operates as a unit of TechWeb.
About UBM TechWeb
UBM TechWeb (http://www.ubmtechweb.com/), the global leader in technology media and business information, enables people and organizations to harness the transformative power of technology. Through its core businesses - media solutions, marketing services, and professional information - UBM TechWeb produces the most respected and consumed brands, applications, and services in the technology market. More than 14.5 million business and technology professionals (CIOs, IT and IT Support managers, Web and digital professionals, software and game developers, government decision makers, telecom providers and business executives) actively participate in UBM TechWeb’s communities. UBM TechWeb brands include: global face-to-face events such as Interop, Game Developers Conference (GDC), Web 2.0, Black Hat, and VoiceCon; large-scale online networks such as InformationWeek, Light Reading, and Gamasutra; research, training, and certification services, including HDI, Pyramid Research, and InformationWeek Analytics; and market-leading magazines such as InformationWeek and Wall Street & Technology. UBM TechWeb is part of UBM, a global provider of media and information services for professional B2B communities and markets.
Press Contact:
Jennifer Baker
Pyramid Research
+1 617-871-1910
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