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Cambridge, Massachusetts - December 2, 2010 - As mobile penetration in Latin America nears 100 percent, mobile remittance solutions represent a large opportunity for mobile operators in Latin America to generate incremental revenues and reduce churn, according to a new report from Pyramid Research (www.pyr.com).
Mobile Remittances: Network Operators Look to Cash In On a $60 Billion Market highlights why remittances represent a large opportunity for mobile operators, but require a significant paradigm shift in order to be fully realized. It also reviews the features that a mobile remittance service must include to be competitive, the current competition and why it will be a steep challenge to overcome, and the additional benefits of having such an offering in the marketplace.
Download an excerpt of this report.
Purchase this report online.
Due to the significant immigration to the US and Europe over the last 20 years, Latin America depends on family remittances to sustain local consumption. This has created a virtual bridge of capital from the host countries to Latin America, and in some cases the flows exceed 10 percent of nominal GDP. The flow of remittances has dramatically changed the economic structure of certain countries that rely heavily on the capital sent by these workers,” says Jose Magana, Senior Analyst at Pyramid.
Pan-regional operator Telefonica utilized remittances as a growth engine to help the company quickly recover from the global economic slowdown. “Mobile operators are well-positioned to benefit from any service that requires access to users, since almost 100 percent of the population is covered by mobile networks,” notes Magana.
“With an average banking penetration of 50 percent, and the advantage of an already-developed infrastructure, it is obvious that mobile players have first mover advantage over any other industry to provide a variety of additional services, including mobile remittances,” indicates Magana. In addition, slowness in response from operators risks them being left out of the value chain or playing a low-value role in the equation, similar to what appears to be happening in the content and mobile advertising businesses.
Mobile Remittances: Network Operators Look to Cash In on a $60 Billion Market is part of Pyramid Research's Latin America Telecom Insider report series. Download an excerpt of this report here. This report is priced at $595 and can be purchased online here or by contacting 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
Founded in 2000, Light Reading (www.lightreading.com) is the leading online media, research, and event focused company serving the $3 trillion worldwide 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.
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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
jbaker@pyr.com
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