Market Research Report
Mobile Financial Services Market Opportunities for Telcos in Latin America
|Published by||GlobalData||Product code||710726|
|Published||Content info||24 Pages
Delivery time: 1-2 business days
|Mobile Financial Services Market Opportunities for Telcos in Latin America|
|Published: September 18, 2018||Content info: 24 Pages||
Latin America's mobile subscriptions reached 112% of population in 2017. However, only 11% of the total population is mobile money users. In the region, MFS has not reached significant scale yet due to low awareness of MFS, security concerns over mobile payments, and low broadband penetration.
Given that the vast majority of Latin American countries fall under undeveloped markets, the opportunity for telcos to offer consumers mobile financial products is still present. No country in the region presents a penetration above 50% of Mobile Money Users.
The lack of smartphones and mobile broadband altogether create a high barrier to entry in the MFS market. Although smartphone penetration reached 68% of the population in Latin America, only 55% of people have access to mobile broadband.
Upper middle income countries are significantly different from middle income countries in terms of the MFS market as these countries show the highest account ownership within the traditional banking system. Telcos generally play a small role or size a less lucrative opportunity in MFS. As a result MFS are being adopted at a slower rate.
"Mobile Financial Services Market Opportunities for Telcos in Latin America", is a new Telecom Insider Report, provides an executive-level overview of mobile financial services (MFS) in Latin America. It delivers deep qualitative insight into the telco service portfolios and positioning strategies in the region, analyzing key trends on telcos' mobile financial practices, business models to foster their in the mobile financial space, and case studies.
Companies Mentioned: Telefonica, America Movil, Telcel, Tigo, Millicom, Vivo Brazil, Western Union, Paypal, Mastercard.