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Post PC Era: Mobile Banking and Payments in Emerging Markets
 

Post PC Era: Mobile Banking and Payments in Emerging Markets

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Mobile phones offer numerous benefits in emerging markets; they ensure the safety and security of money, make payments more convenient and promote M-Commerce opportunities for local entrepreneurs. ...

Mobile phones offer numerous benefits in emerging markets; they ensure the safety and security of money, make payments more convenient and promote M-Commerce opportunities for local entrepreneurs. They also present opportunities for western companies looking to move into these markets, as well as learning’s for those who want to implement similar mobile finance models in developed markets.

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    Post PC Era: Mobile Banking and Payments in Emerging Markets Post PC Era: Mobile Banking and Payments in Emerging Markets Presentation Transcript

    • Post PC Era: Mobile Banking & Payments in Emerging MarketsReport Covers: India, Kenya, Indonesia, Ghana and Nigeria
    • In emerging markets, formal banking only reaches a small percent of the population,compared with high penetration rate for mobile phones. Low access to financial services andthe fact that people in these markets tend to trust mobile brands more than banks,encourages them to use their device to carry out financial activities.Mobile phones offer numerous benefits in emerging markets; they ensure the safety andsecurity of money, make payments more convenient and promote M-Commerce opportunitiesfor local entrepreneurs. They also present opportunities for western companies looking tomove into these markets, as well as learning’s for those who want to implement similarmobile finance models in developed markets.Although mobile finance is a popular activity in emerging markets, there is little known aboutthe financial habits of mobile Internet users in these economies. To address this we’ve puttogether the Post PC Era: Mobile Banking & Payments in Emerging Markets report.
    • On Device Research uses the mobile Internet to gain access to consumer opinions at any time, place or country We’ve surveyed over one million consumers across 53 countriesHave questions of your own you’d like to ask? We can add them to our Omnibus survey: info@ondeviceresearch.com
    • We make mobile research work… Expertise in mobile research projects There are numerous variables to consider in mobile research, including devices, survey design, locations, time of day, samples and cultural differences. Intelligent survey technology That works across any web enabled device – feature phones, smartphones, tablets and computers. Profiled survey respondents Recruited through our network of mobile publishers, available in any country and prepared to take part in studies anytime, anywhere.
    • Research Objective:To understand the behaviour of mobile Internet users engaged in mobile banking and payments in emerging markets
    • Summary• 53% of mobile Internet users in India, Kenya, Indonesia, Ghana and Nigeria have engaged in a financial activity via their mobile – these engaged users present M- Commerce opportunities for both local and western companies.• Kenya have especially high engaged mobile finance users - In Kenya 96% of mobile Internet users have engaged in a financial activity via their mobile.• Those in rural areas are also carrying out mobile finance activities, with almost equal penetration compared to urban usage in some countries – mobile finance provides new opportunities for those who previously didn’t have access to financial services.• Sending airtime is the most popular mobile banking activity in emerging markets, even in rural areas - airtime can be used as virtual credit to pay for goods & services.• Sending airtime is more prevalent in the African nations surveyed, more traditional banking activities are carried out in India & Indonesia.
    • Who did we speak to? 5,993 mobile Internet respondents Africa: 3,839 Live in the city: 63% Indonesia: 1,348 Live in rural areas: 37% India: 806 Feature phone: 93% Smartphone: 7% Under 25: 67% Male: 88% Over 25: 33% Female: 12%*Mobile Research is representative of the mobile Internet population in these marketsCountries: India, Kenya, Indonesia, Ghana and NigeriaN=5,993
    • Mobile Banking & Payment Activities
    • M-Commerce Opportunity: 53% Have engaged in a financial activity via their mobileCountries: India, Kenya, Indonesia, Ghana and NigeriaN=5,993
    • Kenya and Nigeria have highly engaged mobile users, who areconfident in using their mobile to carry out financial activities 96% % of people who have engaged in a financial activity via their mobile 78% 53% 46% 38% Kenya Nigeria India Ghana Indonesia
    • Although lower than in the cities, there is still a high % of people inrural areas engaging in mobile finance, especially in Kenya & Nigeria Ghana India 50% 54% 51% 39% City Rural Kenya Nigeria Indonesia 97% 79% 75% 40% 96% 35%Countries: India, Kenya, Indonesia, Ghana and NigeriaN=5,993Which of these do you currently have?
    • Sending airtime is a popular mobile financial activity in emergingmarkets - airtime can be used as virtual credit to pay for goods. Have you used your mobile phone to? 28% Using mobile phones to transfer funds is more popular than carrying out standard banking activities 13% 11% 11% 11% 7% 7% 5% 4% 1% Send Airtime Receive Send money Check bank Top up Deposit and Buy a Pay a bill Apply for Make a loan to someone money from to someone balance mobile withdraw product credit / loan repayment else someone else wallet money /service elseCountries: India, Kenya, Indonesia, Ghana and NigeriaN=5,993
    • Sending airtime is still the most popular activity across sub-groups Top Banking/Payment Activities: Under 25’s Over 25’s: • Send Airtime to someone else • Send Airtime to someone else • Receive money from someone else • Receive money from someone else • Top up mobile wallet • Deposit & withdraw money City area : Rural area: • Send Airtime to someone else • Send Airtime to someone else • Receive money from someone else • Receive money from someone else • Check bank balance • Send money to someone elseCountries: India, Kenya, Indonesia, Ghana and NigeriaN=5,993
    • Sending airtime is more prevalent in African nations surveyed. More traditional banking activities are carried out in India & Indonesia Ghana Nigeria Kenya25% Send Airtime to someone else 65% Send Airtime to someone else 77% Send Airtime to someone else9% Top up mobile wallet 11% Check bank balance 68% Receive money from someone else8% Receive money from someone else 11% Receive money from someone else 66% Send money to someone else India Indonesia 15% Top up mobile wallet 17% Top up mobile wallet 14% Check bank balance 13% Check bank balance 13% Receive money from someone else 11% Buy a product /service Countries: India, Kenya, Indonesia, Ghana and Nigeria N=5,993
    • Of the top mobile finance activities, it’s those living in the cities who are most likely to carry out these – apart from India where receiving money is higher for those living in rural areas Ghana Nigeria KenyaSend Airtime to someone else Send Airtime to someone else Send money to someone elseCity 28% vs Rural 20% City 66% vs Rural 57% City 70% vs Rural 62% India Indonesia Receive money from someone else Buy a product /service City 11% vs Rural 16% City 13% vs Rural 9%Countries: India, Kenya, Indonesia, Ghana and NigeriaN=5,993
    • Do you have questions you’d like to askrespondents in emerging markets?We run an Omnibus survey which allows you to ask 5questions, to 1,000 profiled respondents.Rates are extremely competitive. For a quote or if you haveany questions, please get in contact at: info@ondeviceresearch.com or call us: 0207 2786 627 Follow us on Twitter: @ondevice+44 (0) 207 2786 627