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Hot Topic—Latin American Mobile Money and Payment Services Markets

  • August 2014
  • -
  • Frost & Sullivan
  • -
  • 49 pages

Summary

Table of Contents

Financial Inclusion Leads to Market Growth

The study focuses on analyzing what mobile carriers are offering regarding mobile money and payment services in Latin America. Beyond the market assessment, the study also includes registered and active users forecasts for the period 2013 to 2019. The key focus areas of the research are as follows: current scenario, ecosystem, key trends, opportunities, and challenges for mobile payment services market.

Research Objectives, Scope, and Methodology
Objectives
This study focuses on analyzing what mobile carriers are doing regarding mobile payment services in Latin America. The key focus areas of the research are as follows:
-Main trends for mobile payment
-Market assessment and forecast Scope
-Geographic coverage: Latin America (Brazil, Argentina, Chile, Colombia, Mexico, and Peru)
-Forecast period: 2014–2019
-Base year: 2013
-Monetary units: US dollars Research Methodology Primary research was conducted and secondary research includes the Frost & Sullivan online database, market participants’ financial reports, and regulators’ Web sites.

Key Findings
-The mobile payment industry is entering a defining phase and go-to-market strategies will be crucial.
-Fundamental ingredients to any initiative in this market include:
oSecurity
oReliability
oEasy of use
oInteroperability
-Success will be contingent on:
oUnderstanding of the local market, customers, and regulations
oInnovating in services and being committed to invest resources into new initiatives
oBeing unafraid to forge partnerships with new participants
-According to Frost & Sullivan estimates, there will be million registered mobile money and payment users in Latin America by 2019 with million active users. In Brazil, Mexico, and Colombia, registered users are likely to reach million, million, and million in 2019, respectively.

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