Mobile Money is Key to Accelerating The Growth of M-Commerce

Jan 28, 2014 (Tue): MEF’s first report in its Global Consumer Insights Series on Mobile Money has revealed that 15 percent of mobile media users made some form of mobile payment to make a purchase in 2013. Majority of mobile payment users were using mobile wallet especially based on Near Field Communications (NFC) technology.

The report also shows:

  • Mobile money users is 26 percent more likely to purchase via mobile
  • Mobile money users spend more on individual purchases
  • 10 percent less likely to make low value payments
  • 14 percent more likely to make mid-value purchases
  • 12 percent more likely to scan barcodes
  • 11 percent more likely to make charitable donations
  • 10 percent more likely to use location based services

Rimma Perelmuter, CEO at MEF said: “The 2014 Mobile Money Insight Report clearly highlights that early adopters of mobile money are key to accelerating the growth of mobile commerce. This is true both in terms of their propensity to spend more on individual purchases and their likelihood to engage with a wider array of mobile services. In many markets, mobile money has already hit the mainstream, with Africa leading the way. Faster mobile networks will only advance its adoption further worldwide.”

MEF, the global community for mobile content and commerce completed the report based on data from 10,000 respondents in 13 countries.

Author: Terry KS

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