1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Payments Market Trends
Mobile Remittances to Africa: Mobile and Financial Services Converge

Mobile Remittances to Africa: Mobile and Financial Services Converge

  • March 2017
  • 28 pages
  • ID: 4773733
  • Format: PDF
  • By GlobalData

Summary

Table of Contents

Search Inside

Mobile Remittances to Africa: Mobile and Financial Services Converge

Summary
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".

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
- 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.

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 doesn’t.
- 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.
- The report discusses commercial and technical developments in the wider mobile money market and what these developments might mean for the future.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
20% Off

($1195)

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Mobile Money Market by Transaction mode, Nature of Payment, Application, Type of Payments, Region - Global Forecast to 2024

Mobile Money Market by Transaction mode, Nature of Payment, Application, Type of Payments, Region - Global Forecast to 2024

  • $ 4950
  • January 2020

Government initiatives to promote cashless economy to drive the demand for mobile money marketThe mobile money market is projected to grow from USD 3.4 billion in 2019 to USD 12.0 billion by 2024 at a ...

The Rise of Mobile Money in West Africa

The Rise of Mobile Money in West Africa

  • $ 4500
  • December 2019

This IDC Market Perspective presents an overview of mobile money in West Africa. It examines trends in key markets, looks at drivers and challenges, and concludes with guidelines on how to increase service ...

Norway Cards & Payments: Opportunities and Risks to 2023

Norway Cards & Payments: Opportunities and Risks to 2023

  • $ 2750
  • January 2020

Norway Cards & Payments: Opportunities and Risks to 2023Summary’Norway Cards & Payments: Opportunities and Risks to 2023’ report provides detailed analysis of market trends in the Norwegian cards and ...


ref:plp2017

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on