Mobile Remittance 2010: Including trends in Mobile Banking published by Visiongain in December, 2009. This report consists of 146 pages and the price starts from US $ 2331.
Abstract
The world' s banking and financial retail infrastructure is characterised by
two scenarios. One scenario is played out in some regions that have a
saturated banking industry where the nature of business and society leaves no
time for people to conduct transactions in a bank' s premises. In other regions
physical bank sites are few and far between. Mobile money transactions allows
financial operations to be conducted under both scenarios.
Whether mobile remittance or mobile banking, the necessity of access to
banking and transactions solutions is available immediately and securely. Is
this a disruptive innovation for banks or a new opportunity for mobile
operator to work together effectively with the financial industry. Who should
take the lead in capitalising on the new opportunities? While banks have
combined with mobile operators to provide mobile money transaction services,
some mobile operators function alone.
This report presents an analysis of global remittances. This includes the
macroeconomic impact of regulations, the trends in global remittances and the
factors affecting global remittances. Studies have been conducted on the major
remittance corridors and major remittance markets. The report analyses the
mobile remittance market, beginning with the necessities of deploying a mobile
money transaction service which is becoming a dominant force both for
international and domestic remittance; with several case studies scrutinised.
The technological aspect of mobile remittance is also comprehensively studied
with several evolving business models and service models analysed.
To assess the future of the mobile remittance market, factors have been
identified which are necessary for mobile remittance to flourish. To
understand the forces of competition in a local mobile remittance market,
Porter' s five forces model has been used. In the end, a selection of forecasts
has been drawn to help decision makers in devising strategies.
To understand the greater implications of mobile money transaction services, a
study of mobile banking has been included in the latter stages of the report.
The technological models behind mobile banking, alongside the macroeconomic
and industry effects have been considered in the analysis.
This report provides a comprehensive insight into the mobile money transaction
industry which in some ways will be an eye opener for the banking industry in
general where mobiles are replacing physical in-situ banking services in an
increasingly feasible and sustainable way.
Focus of the report The report focuses on past and emerging trends of mobile
banking and mobile remittances. Forecasts for these trends are also included.
Focus will be put on the current business models and probable future business
models and how they will be shaped by regulations and market forces.
The technological side of the mobile remittances with an understanding of
current vendors of technology will be taken into account leading up to the
innovations that affect the discipline as a whole. Major markets that are hot
spots will be studied to give an overview of how companies can better tackle
the wide scale adoption of mobile remittances.
The global scenario of funds transfers across the globe will also be taken
into account as they form the total market of international mobile
remittances. What macroeconomic effects will the development of the industry
make will be analysed incomprehensively.
Who should buy this report?
The report is written in the view of aiding decision makers in the mobile and
banking sector take and informed decision as to their strategy directions and
their technological development. Precisely, the report focuses on:
- Decision makers in mobile companies.
- Decision makers in mobile app companies.
- Decision makers in domestic and international banks.
- Decision makers in international money transfer organisations.
- Decision makers in the mobile retail sector.
Why do you need to order this report today
- Strategist in a mobile company - Understand how mobile remittance and
mobile banking in general can increase your company' s profit. Understand the
technologies uesd, the trends occuring and the business and service models
followed. get an insight into the opportunity that remittance market holds for
mobile operators.
- Mobile Operators - Learn which markets hold the maximum potential for
profit in mobile money transaction services. Learn how companies have done it
all and how you can successfully implement the service in a potential market.
- Mobile handset vendors - Discover what mobile subscribers will want from
their handsets and what Android and Symbian are working to bring the mobile
market. Learn about opportunities in this market and how these can be best
utilised. Learn about the emerging technologies that hare being used in mobile
money transaction applications.
- Domestic and international bank decision makers - Learn how mobiles are
disrupting the traditional banking industry. Know how to mitigate the effects
that mobiles bring to the banking industry. Learn how your company can profit
from the emerging trends. Get an overall view of the global remittance market
and how you can improve your services to attract more customers.
- International money transfer organisation' s officials - Learn how you can
answer the demands of international remittances. Know what decisions to take
with regards to the including mobile transactions as part of your service.
- Mobile retail sector personnels - Know what customers want and align your
company' s decisions to the future trends. Know which services will sell the
most and will be in demand in future.
Table of Contents
CHAPTER - 1 Introduction
- 1.1 Disruptive innovations
- 1.2 Need for speed with more safety and convenience
- 1.3 The shift of the epicenter
- 1.4 The changing face of humanity
- 1.5 The huge potential
- 1.6 Potential pitfalls
- 1.7 The current market
- Figure: M- Wallet Usage for Remittances Forecast (Worldwide)(2008- 2012)
- 1.8 Focus of the report
- 1.9 For whom is the report?
CHAPTER 2- Global Remittances
- 2.1 The Critical Macroeconomic Role of Remittances
- 2.2Global Data
- Figure: Remittances as a percentage of country' s GDP (53 countries
considered)
- 2.3 Effect of the economic crisis on Global Remittances
- 2.4 Trends in Global Remittances
- Figure: Global remittances trends and forecasts (distribution by
country' s income level, 2006-2015)
- Figure: Annual growth rates for global remittances (2006-2011)
- Figure: Figure: Global remittances trends and forecasts (distribution by
region, 2006-2014)
- 2.5 Factors affecting Global Remittances
- 2.5.1 The Economic Crisis
- 2.5.1.1 Returning migrant stock
- 2.5.1.2 New migrants
- Figure: Migrant employment in UK by country of birth(2002-2009)
- Figure: Migrant population in US by country of birth(1990-2008)
- 2.5.1.3 Resulting scenario
- Figure: Growth in Global Migrant Stocks(1960- 2050)
- Figure: Annual Net Migrants to more developed regions(1950- 2050)
- 2.5.2 Efforts by migrants to maintain remittance
- 2.5.3 Volatile currency effects and government credit ratings
- Figure: Currency appreciation in the major remittance-receiving
countries
- Figure: Effect of interest rates of Government Bonds
- 2.5.4 High base effect
- 2.6 Major remittance corridors
- Figure: Major world remittance corridors
- 2.7 Remittance Channels
- Figure: Remittance channels
- 2.8 Remittance motive
- Figure: Remittances and capital flows to developing countries(2000- 2012)
- 2.9 Major remittance companies
- Figure: Market share of P2P Money Transfer companies- 2009
3. Mobile Remittances
- 3.1 Why M- Banking
- 3.1.1 Inadequate Servicing of Remittance by Existing Mechanisms
- Figure: US & UK Remittance Transaction Fees- 2009
- 3.1.2 Problems in reducing costs and an avenue for M- Banking
- 3.1.4 Poor financial infrastructure in developing economies
- 3.1.3 Participation in the formal vs. informal economy
- 3.2 Mobile penetration globally- Forecasts
- Figure: World' s mobile subscribers forecast (2000- 2015)
- 3.2.1 Major Growing mobile markets- Forecasts
- 3.2.1.1 Forecast for India- 2015
- Figure: Indian mobile market forecast (2005- 2014)
- 3.2.1.2 Forecast for China- 2015
- Figure: Chinese mobile market forecast (1999- 2015)
- 3.2.1.3 Forecast for Indonesia- 2015
- Figure: Indonesian mobile market forecast (2000- 2015)
- 3.2.1.4 Forecast for Brazil- 2015
- Figure: Brazilian mobile market forecast (2000- 2015)
- 3.2.1.5 Forecast for Africa- 2015
- Figure: African mobile market forecast (2002- 2015)
- 3.3 Mobile Remittances
- 3.3.1 Present Scenario
- 3.3.1.1 Smart Telecom mWallet Services, Philippines
- 3.3.1.1.1 Smart Padala Remittance: 4 years of success
- Figure: Smart Padala Remittance Partners and Locations Overseas
- 3.3.1.2 Globe Telecom, Philippines
- 3.3.1.2.1 GXI - Globe' s M-Commerce Subsidiary
- Figure: International GCASH REMIT Partners
- 3.3.1.3 Vodafone' s M- PESA
- 3.3.1.3.1 Safaricom and M-PESA: m-transaction as a precursor to
wider cross-border mobile remittance
- 3.3.1.3.2 M-PESA Adoption Curve
- 3.3.1.3.3 M-PESA Adoption Drivers
- 3.3.1.3.4 The M-PESA Service Model
- 3.3.1.3.5 M-PESA Expansion and International Implementation by
Vodafone
- 3.3.1.3.6 Vodafone and Citigroup/Citibank global agreement
- 3.3.1.4 Bharti Airtel and Western Union Pilot Project
- Figure: Western Union- number of agent locations worldwide, 2008
- 3.3.1.5 The GSM Association Mobile Money Transfer (MMT) Initiative
- 3.3.1.5.1 MMT: Attempt at creating a Multilateral Remittance
Framework
- Table: Options for the Implementation of Multilateral MMT Hub
Platforms
- 3.3.1.5.2 Partnerships
- 3.3.1.5.3 GSMA-Western Union Partnership
- Table: GSMA MMT Working Group Members
- 3.3.1.5.4 GSMA-MasterCard Partnership
- 3.3.2 Future developments
4. Technology aspect of mobile remittance
- 4.1 Evolving technologies to aid mobile remittances
- 4.1.1 The Development of M-transaction
- 4.1.2 Device Convergence
- 4.1.3 Convergence Embraces Mobile Transaction
- 4.1.4 Low-cost handsets
- Figure: Ultra Low Cost shipments, per annum, by region, 2009- 2014
- 4.1.5 SMS Banking
- Figure: SMS Banking Framework
- 4.1.5.1 Prime Disadvantages of SMS Banking
- Figure: Vulnerable points of SMS Banking
- 4.1.6 STK-enabled Mobile Transaction
- Figure: STK application communication channel
- 4.1.7 IVR Banking Service Delivery
- Figure: IVR Banking Framework
- 4.1.8 USSD/USSD2
- 4.1.9 WAP Service Delivery
- Figure: WAP delivery service model
- 4.1.10 Service Delivery via J2ME Apps
- Figure: Service Delivery via J2ME Apps
- 4.1.11 mWallet
- Figure: Mobile Wallet Enabler Topology
- 4.1.12 Conclusion: Technology Options
- 4.2 Evolving Business Models and Service Models- Mobile Remittance
- 4.2.1 Business models
- Figure: Mobile Remittance Value Chain
- 4.2.1.1 Mobile Operator as Bearer Channel Provider
- Figure: MNO as Bearer-only Business Model
- 4.2.1.2 Mobile Operator as Bearer and Banking Application
- Figure: MNO Banking Application Host Business Model
- 4.2.1.3 Integrating Banks/Financial Institutions into Mobile Operator
Hosted Platforms
- Figure: Business Model for an MNO as a Banking Hub
- Figure: Topology of the MNO as Banking Hub Model
- 4.2.1.4 MNO Adoption of Financial Institution Status
- Figure: Financially-licensed MNO model with MNO positioned as
beneficiary
- 4.2.1.5 Summary of MNO Business Model Options
- 4.2.2 Business Model Options for Financial Institutions
- 4.2.3 Service Models
- 4.2.3.1 m-Wallet to m-Wallet
- Figure: mWallet-to-mWallet Transaction Process
- 4.2.3.2 m-Wallet to Cash
- Figure: mWallet-to-Cash Transaction Process
- 4.2.3.3 Cash to mWallet
- Figure: Cash-to-mWallet Transaction Process
5. The Business Potential of remittance markets
- 5.1 Major domestic mobile remittance markets
- 5.1.1 Kenya
- 5.1.1.1 M- PESA offers
- 5.1.1.2 Growth in Kenyan mobile industry
- Figure: Kenyan mobile industry (2003- 2012)
- 5.1.1.3 Kenyan mobile remittance market forecast
- Figure: Number of registered users, M- Pesa (2007- 2012)
- Figure: M- Pesa market adoption (2007-2012)
- 5.1.2 Philippines
- 5.1.2.1 Smart Money
- Figure: Smart money (number of users) (2000-2015)
- 5.1.2.2 G- Cash
- Figure: G- Cash (number of users) (2004-2015)
- 5.2 Potential mobile remittance markets
- 5.2.1 Methodology
- 5.2.2 The Financial Inclusion Index
- 5.2.3 Mobile remittance potential index
- 5.2.4 Results
- Table: Mobile Remittance Potential Index (68 countries)
- Table: Classification by Mobile Remittance adoption potency
- Figure: Low Mobile Remittance adoption potential countries
- Figure: Medium Mobile Remittance adoption potential countries
- Figure: High Mobile Remittance adoption potential countries
- 5.3 Conditions necessary for mobile remittance to flourish
- Figure: Conditions necessary for adoption of mobile remittance
- 5.4 Competitive forces in the mobile remittance market
- 5.4.1 Porter' s Five Forces
- Figure: Porter' s five forces- Model
- 5.4.2 The five directions of competition- Explained
- 5.5 Regulatory issues in mobile remittance
- 5.5.1 Interplay between two regulatory frameworks- Financial regulations
and telecommunication laws.
- 5.5.2 Regulatory Issues
- 5.5.3 Assessing a country' s regulatory framework
- Figure: Checklist for assessing a country' s regulatory framework for
introduction of MMT services.
- 5.5.4 Impact of regulation on choice of business model
- Figure: Business Model Selection Framework
- 5.6 Entry and setup process for mobile remittance in a country
- Figure: Greenwich Consulting MMT services market entry strategy
6. Forecast of mobile remittances- Worldwide
- 6.1 Forecast by region
- Figure: Number of mobile users making national transfers split by 8 key
regions (2009- 2014)
- 6.2 Forecast by channels
- Figure: Forecasts by remittance channel volume (2009- 2015)
- Figure: Comparision of forecasts for remittance channel by value (2009-
2015)
- 6.3 Forecast by country
- Figure: Comparative mobile remittance forecasts fopr recipient countries
(2009- 2015)
7. Mobile Banking
- 7.1 The new way of banking
- Figure: Future of mobile banking
- 7.2 Emerging business models
- Figure: comparative overview of mobile channel platforms
- 7.2.1 SMS Banking
- Figure: SMS banking model
- 7.2.2 Mobile Web
- Figure: Mobile web banking model
- 7.2.3 Mobile Client Applications
- 7.2.3.1 JAVA Environment
- 7.2.3.2 Binary Runtime Environment
- Figure: Safaricom' s Mobile banking Client platform
- 7.2.4 SMS with Mobile Web
- Figure: SMS with Mobile Web banking snapshot
- 7.2.5 Secure SMS
- Figure: Secure SMS snapshot
- 7.3 Potential threats of Mobile Banking
- 7.4 Future prospects of Mobile Banking - Till 2012
- 7.4.1 Mobile money transfer
- Figure: Global state of Financial Inclusion
- 7.4.2 Mobile banking adoption
- Figure: Mobile Banking: Transactional Users - 2011 Regional Forecast
(%)
- 7.5 Market forecast for mobile money transfer and mobile banking.
- Figure: Total customers for mobile money transfers and mobile banking
(2009- 2014)
8. Industry effects and macroeconomic effects
- 8.1 Implications for the traditional banking industry
- 8.1.1 From the Bank to the Mobile
- 8.1.2 Basic necessities for Banks
- 8.1.3 Motivation
- 8.1.4 A threat to obsolescent banking industry
- 8.2 The macroeconomic effect
- 8.2.1 Effect on GDP by increased mobile penetration
- 8.2.2 Role of Governments
- Figure: Economic impact of mobile phones on GDP (2005-2015)
- 8.2.3 Estimation of economic impact due to mobile banking
9. Conclusion
- 9.1 A necessity for economic development equals high consequential take-up
- 9.2 The need for regulatory harmonization and accommodation- mobile
remittance
- 9.3 Standardisation as an achievable goal
- 9.4 Which form of mobile transaction platform will emerge as the most
common? Mobile banking and mobile remittance
- 9.5 Danger of regulations
Companies Listed
- Adobe
- Al Ahalia
- Al Ansari
- Al Jazeera Exchange
- Alliance & Leicester
- Amazing Communications
- Arabian Exchange
- Bancnet
- BDO Bank
- Bharti Airtel
- Blackberry
- Calisons Ltd.
- CGAP
- Citigroup
- City Exchange
- Country Remittance Partner
- CSL
- Cybertalk Limited
- Czarina Remittance
- DAX
- Department for International Development (DFID)
- Far East Remittance
- First Direct
- Future Exchange
- Gen Ex
- Global Mobile
- Global Peso Express
- Globe communications
- GP Express
- Greenwich Consulting
- GSM Association
- Gulf Exchange Main
- G-Xchange Inc
- Herald Remittance
- HSBC
- Ideal Pinoy Shop
- IME Remit
- IMF
- Indian Council for Research on International Economic Relations
- Indian Post
- IRemit
- Java
- Kabayan Remittance
- KenTv
- Lari Exchange
- LG
- Linux
- Luup International Ltd
- Mabini Express
- Maharlika Service
- Margento Remittance
- MasterCard
- Maxis
- McKinsey
- Mexican Migration Project (MMP)
- Moneygram
- Monilink
- Motorola
- Mozilla
- Nairobi Stock Exchange
- NatWest
- Nikia
- NTT DOCOMO
- NYBR
- One Transfer
- Opera
- Pera Padala
- Philippine Central Bank
- Philippine Long Distance Telephone Company
- Philippine National Bank
- Philippine Tropical
- Pinoy Center
- Pinoy Express
- Provident Capital Transfers
- Qualcomm
- Quick as a Flash
- Rainbow
- Reliable Peso
- Reliable Peso Remit
- Remit Plus
- Remit X
- Remittance Partner
- RIM
- Royal Bank of Scotland
- Rural Bankers Association of the Philippines (RBAP)
- Safaricom
- Sajmani
- SingTel
- Smart Communications
- Sony- Ericsson
- Sun Microsystems
- SWIFT
- Sybase
- Symbian
- Telkom Kenya
- Tesco Mobile
- Touch Mobile
- Travelex
- Twilight Express Unlimited
- UAExchange
- UK Office of National Statistics
- Ulster Bank
- UN
- UNCTAD
- UNDP
- Virgin Mobile
- Visa
- Vodafone
- Western Union
- Windows
- World Bank
LIST OF COUNTRIES IN THE REPORT
- Afganisthan
- Albania
- Argentina
- Armenia
- Azerbaijan
- Bahrain
- Bangladesh
- Belarus
- Belize
- Benin
- Bosnia
- Bosnia & Herzegovina
- Botswana
- Brazil
- Bulgaria
- Cambodia
- Canada
- Cape Verde
- Chile
- China
- Colombia
- Costa Rica
- Czech Republic
- Dominican Republic
- Ecuador
- Egypt
- El Salvador
- Estonia
- Ethiopia
- Fiji
- Finland
- Gambia
- Georgia
- Germany
- Ghana
- Grenada
- Guatemala
- Guinea-Bissau
- Guyana
- Haiti
- Honduras
- Hungary
- India
- Indonesia
- Iran
- Jamaica
- Japan
- Jordan
- Kazakhstan
- Kenya
- Kiribati
- Kuwait
- Kyrgyz Republic
- Lebanon
- Lesotho
- Liberia
- Lithuania
- Macedonia
- Madagascar
- Mexico
- Moldova
- Morocco
- Namibia
- Nepal
- Nicaragua
- Nigeria
- Pakistan
- Papua New Guinea
- Peru
- Philippines
- Poland
- Romania
- Russia
- Samoa
- Saudi Arabia
- Senegal
- Serbia
- Sierra Leone
- Slovak Republic
- Slovenia
- South Africa
- Spain
- Sri Lanka
- Sudan
- Tajikistan
- Tanzania
- Thailand
- Togo
- Tonga
- Trinidad and Tobago
- Tunisia
- Turkey
- Uganda
- UK
- Uruguay
- US
- Venezuela
- Vietnam
- West Bank and Gaza
- Yemen, Rep.
- Zambia
- Zimbabwe
