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What will drive mobile financial services’ growth?

What will drive mobile financial services’ growth?

Driving Mobile Financial services’ growth: Ericsson and Juniper Research report for MNOs

In order to gauge MNOs’ (Mobile Network Operators) attitude to MFS (Mobile Financial Services), Ericsson and Juniper Research conducted a survey of decision makers responsible for MFS at 46 MNOs across 35 countries spread across Africa, Middle East, Asia Pacific and Americas. This survey report provides insights on factors that will drive mobile financial services’ growth over the next five years, helping industry leaders to shape their future strategy.

The key findings of the survey are:

  • 40% of mobile network operator user bases will be actively using mobile financial services in the next five years.
  • 80% growth in mobile financial services transaction value anticipated over the next five years.
  • Customer Incentives, extensive last-mile networks and COVID-19 digital payments surge lead top ten factors that have accelerated mobile financial services success.
  • Advanced services to drive mobile financial services growth over the next 5 years.
  • QR Code, AI/ML and NFC lead list of technologies that will have most impact on mobile financial services over the next five years.
  • Mobile network operators are focused on extending payments and international remittances via partnerships with merchants and money transfer operators.
  • Regulations and taxation, enduring preferences for cash and security concerns are key challenges inhibiting MFS growth.
  • Service portfolios are evolving rapidly, with banking tech and value-added services taking the lead.
  • Mobile financial services critical for enabling revenue growth and diversification for mobile network operators.
  • Enabling SDGs, access to formal financial services and financial inclusion are the biggest social benefits of mobile financial services.

Know more about these survey insights and support the growth of your mobile financial services by reading this report.