North America Mobile Money Industry | North America Mobile Money Industry share, report

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North America Mobile Money Industry | North America Mobile Money Industry share, report

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North America Mobile Money Industry Review to 2019 – Driven by Collaborations and Increasing Interest in NFC Payments

GLOBAL MOBILE MONEY INDUSTRY OVERVIEW

The global mobile money market was estimated to be USD ~ billion, in terms of value of transactions taking place in 2014. The market has expanded at an outstanding CAGR of ~% over the period of 2008-2014. The growth in the number of transactions has been supported by growing adoption of smartphones worldwide. Additionally, mobile operators all over the world have been focusing on stabilizing their falling voice average revenue per user (ARPU) by promoting the mobile data services. The mobile network operators have also been developing platforms and applications either in partnership with the banks or mobile payment service providers to offer mobile payment services.

North America mobile payment market is extremely fragmented and cumbersome, featured with technological splits and battling business models. The mobile transactions are gaining crucial momentum in the market, although the initial uptake of the mobile payment services in the region was less aggressive as compared to the European markets. Europe registered a share of ~% in global mobile money transitions, as observed in 2009, which has fell down to only ~% in 2014.

NORTH AMERICA MOBILE MONEY INDUSTRY

The current situation of the North American mobile money market showcases a low scale of development and adoption, which resonates the fact that mobile payments industry in the region is still in growing stages. In the US, the traction of m-payments has been increasing; however at a slow pace, as compared to other geographic markets worldwide. In 2013, the total m-payment transactions constituted only a fraction (0.7%) of the overall debit and credit cards transaction value.

The total amount of the disbursements made from mobiles in North America region was estimated at USD ~ billion in 2014. The existing players such as Starbucks in the US also generated growing revenues, with the advancement in the penetration rate of the mobile payment apps and wallets. Overall, the mobile payments industry in North America has grown at a CAGR of ~% for the period of 2008-2014, from a value of USD ~billion in 2009 to ~ billion in 2014.

THE US MOBILE MONEY INDUSTRY

The US has been long anticipated to emerge as one of the key markets for the mobile payments industry. Even though it has been established as one of the leading countries in e-commerce sector in the world with well-developed infrastructure of credit and debit systems, the growth trajectory reflected by the US in terms of mobile payments is far from being impressive. The usage of mobile channel as a medium of payments is still in infant stage in the country.

CANADA MOBILE MONEY INDUSTRY

The mobile ecosystem in Canada has been rapidly evolving with increasing mobile penetration, which was recorded as 78.4% in 2014 with a total of 27.8 million subscribers. On the other side, 56% of the Canadian population owned a smart phone by the end of 2013. This reflects the ample opportunities which Canada offers to the stakeholders of mobile payments industry. Presently, the mobile payments industry in Canada is just taking off, supported by encouraging activities of the financial institutions in the country.

Source : https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/north-america-mobile-money-market-research-report/632-93.html

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