Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Mobile Merchant Transactions in Emerging Markets Drive Financial Inclusion, More than Doubling to 3.8bn Annually in 2023

Unbanked Individuals to Spend $22 billion on Merchant Payments in 2023, Rising from $9.7 billion this Year

 

Hampshire, UK - August 14, 2018 (Investorideas.com Newswire) A new study from Juniper Research forecasts that the use of mobile devices to make retail and store payments will act as a driver for financial inclusion of the unbanked in emerging markets. The research forecasts that mobile merchant transactions by unbanked individuals will grow from 1.8 billion per annum in 2018 to 3.8 billion by 2023.

For more market insights, download the free whitepaper: 'How to Seize the Microfinance Opportunity'.

QR & NFC Technologies Deliver Growth and Efficiency

The new research, Mobile Financial Services in Emerging Markets: Mobile Money, Loans, Savings & Insurance 2018-2023, finds that Kenya and India will be core incubator markets for merchant services. Safaricom's Lipa Na M-PESA product already has over 100,000 merchants enrolled, and by 2023, merchant payment transactions in the Middle East & Africa alone will surpass $16 billion per annum.

The research singled out Mastercard as a key innovator in the sector. The company has launched a QR code-based solution with the aim of connecting 40 million micro and small merchants to its payments network by the end of 2020.

Research author Lauren Foye explained: "Previously merchant payments relied upon SMS to facilitate transactions, with customers texting a code to initiate payment; thus the process was slow and inefficient. With QR code solutions, shoppers simply scan a merchant code to rapidly initiate the payment process."

Merchant Payments: Fast Roll-out & Lower Costs

The research praised mobile merchant payments as they make digital transactions accessible to a much broader segment of society (as a Point of Sale terminal is not required). To nurture this, the research recommends that players provide value added services, such as microloans, analytical tools and advice for businesses, in addition to SMS-based marketing services, as a means to drive engagement. Juniper cautions that tariff rates must remain low, citing the fact that Lipa Na M-PESA was obliged to impose a 50% reduction in fees last year, both to address customer indifference and ward off competition.

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Contact:

sam.smith@juniperresearch.com
www.juniperresearch.com


TechSectorStocks.com - investing ideas in tech stocks - mobile payments, social media, AI and Robotics, Drone Stocks, GPS, Internet of Things (IoT)

Like Tech Stocks? View our Tech Stocks Directory  Get News Alerts on Tech Stocks


More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp