Consumers in developing regions leading the revolution, says Juniper.
A new report by the market watcher says mobile financial services are so attractive that some regions will achieve a rate of one in five money service users over the next two years.
In individual countries the rate could hit one in two mobile subscribers within two to three years from launch.
Further findings from the new report include:
· Domestic transfers, airtime top-ups and bill payments account for at least 60 per cent of all applications
· International mobile money transfer users will more than double by 2013, driven by migrant workers and specialist MNOs
“Our research found that, money transfers, bill payments and airtime top-ups constitute the typical top three mobile money services in an operator’s portfolio.
Increasingly though merchant payments are being offered and operators can, via partnerships with supermarkets for example, enable people to pay for their shopping this way,” said report author Howard Wilcox.