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Mobile Money: Lessons from Emerging Markets

In emerging markets, there are millions of mobile customers (and potential customers) that have never had access to banking services. Mobile Network Operators are uniquely positioned to introduce the 'unbanked' to financial services - from micro-credit loans to person-to-person (P2P) transfers, remittances from migrant workers to their families at home - the potential is huge.

Despite its potential, the mobile money market today remains so far largely untapped. It offers plenty of growth opportunities to the different market players involved and mobile operators are proactively driving initial adoption and creating mass awareness of mobile money services as well as educating customers on how to use these services with the aim of gaining a share of the financial (as well as non-financial) benefits involved. However, the challenge is how to make a profit from these services. The target market is largely made up of individuals with little in the way of financial resources and they cannot afford large transaction fees to support the development of the services they need.

In this report we analyse the mobile money market opportunities and address the challenges faced by mobile operators. Using case studies of advanced mobile money service implementations including an in-depth analysis of the M-Pesa and Zain Zap services in the Kenyan market, the report arrives at a set of conclusions and recommendations that MNOs active in both mature and emerging mobile markets, need to consider in order to maximise profitability from this area.

Price: EUR 2,500.00 / GBP 2,100.00

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Table of Contents
1
OVERVIEW
1
2
INTRODUCTION
2
2.1
Background to the Report
2
2.2
Report Content
2
2.3
Exchange Rates
2
3
MOBILE MONEY MARKET OVERVIEW
4
3.1
Service Models / Applications
4
3.2
Key Market Players
5
3.3
Current Deployments and Market Size Potential
6
4
MNO ROLES, CHALLENGES & BENEFITS
8
4.1
MNO Roles
8
4.2
Challenges
8
4.2.1
Understanding Customer Needs & Behaviour
8
4.2.2
Balancing Security Against Customer Experience
9
4.2.3
Conforming to Financial Regulations
9
4.2.4
Driving Awareness through Customer Communications
11
4.2.5
Customer Education and Support
12
4.2.6
Acquiring a Capillary Network of Agents
13
4.3
Loyalty vs. ARPU Benefits
14
5
LESSONS FROM KENYA
15
5.1
Market Overview
15
5.2
Safaricom M-Pesa
16
5.2.1
Service Description & Partners
16
5.2.2
Tariffs
18
5.2.3
Agents Network
19
5.3
Zain Zap
21
5.3.1
Service Description & Partners
21
5.3.2
Tariffs
22
5.3.3
Agents Network
23
5.4
Regulatory Aspects
24
5.5
Service Impact
25
6
CROSS-BORDER MOBILE MONEY SERVICES POTENTIAL
30
6.1
Background
30
6.2
Orange Money
31
6.3
MTN MobileMoney
32
6.4
Zain Zap and One Network
34
6.5
Overcoming Regulatory Hurdles
35
7
CONCLUSIONS & RECOMMENDATIONS
36