Mobile Remittances to Africa: Mobile and Financial Services Converge
MarketResearchReports.Biz
announces addition of new report "Mobile Remittances to Africa: Mobile
and Financial Services Converge" to its database.
The
number of mobile money users in Africa is still seeing significant
growth, however, that is not all. Mobile money services are also
evolving, with the next natural step arguably being mobile remittances.
The sizeable traditional remittance market is just now beginning to near
its mobile moment".
Complete Report Details @ https://www.marketresearchreports.biz/reports/1026669/mobile-remittances-to-africa-mobile-and-financial-services-converge-market-research-reports
Mobile
Remittances to Africa: Mobile and Financial Services Converge a new
Telecom Insider Report by GlobalData, provides an overview of the mobile
money and remittance market in sub-Saharan Africa. The report analyses
the mobile remittance market and the role of market participants such as
MNOs, money transfer operators (MTO), financial technology (fintech)
firms and banks. The insider provides case studies, comparisons,
conclusions as well as recommendations for operators.
Scope
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International mobile remittances are sent less frequently than domestic
person-to-person (p2p) payments, but on average transfers are
significantly higher in terms of value compared to domestic transfers.
-
Mobile remittances account for roughly 0.03% of total global
remittances. The total market size is in excess of US$601bn of which
most is still remitted via traditional channels (banks or money transfer
operators [MTO]) or informal channels (travelling friends or family
members). There is therefore a significant opportunity for MNOs to
capitalise on challenging the traditional channels and increase mobile
remittances usage.
-
Migration and remittance numbers are strongly correlated; and with
European entry points, such as Italy, having in 2016 seen a record in
migration numbers, remittance flows are likely to continue to increase.
According to the World Bank, global remittances to sub-Saharan Africa
will grow by 3.7% in both 2017 and 2018.
-
Competition in traditional and mobile remittances has increased greatly
with the entry of financial technology (fintech) firms that apply
over-the-top (OTT) solutions to transfer money to mobile wallets. There
is also significant co-operation between the different players in the
mobile remittances industry as market structure is still at a defining
stage. MNOs that lack a footprint in more developed countries are likely
to partner with fintech firms in order to enable the receipt of
remittances.
-
MNOs could be particularly competitive when lower sums of money are
being sent. This is partly because they already have existing subscriber
base and retail networks, which allows them to undercut the fees of
MTOs and banks.
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Reasons to buy
-
This Insider Report provides a comprehensive examination of mobile
remittance business models in the sub-Saharan market to help executives
fully understand market dynamics, determine what works and what doesnt.
-
Three case studies illustrate the findings of the report, providing
insight into particular situations in the mobile remittance market; this
will help the reader understand both the challenges confronted in the
real world and the strategies employed to overcome those challenges.
-
The report discusses concrete opportunities in the mobile remittance
market, providing a number of actionable recommendations for service
providers.
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The report discusses commercial and technical developments in the wider
mobile money market and what these developments might mean for the
future.
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