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Global Mobile Money Market is expected to reach USD 255.65 Billion by 2024 from the value of USD 21.2 Billion in 2016 at CAGR of 36.51% (Detailed analysis of the market CAGR is provided in the report). In order to transfer funds between banks or accounts, deposit or withdraw funds, or pay bills mobile phone is used and it is also referred as the broader realm of electronic commerce where the mobile device is used to purchase items whether physical or electronic. The Segmentation of Global Mobile Money Market done by payment location, transaction mode, payment nature, purchase type, vertical and geography. In transaction modes, the Mobile apps sub-segment is expected to have the largest market share, because of its easy operability and customization facilities. In the nature of payments the Person to person segment, is expected to have largest market share in Global Mobile Money Market during the forecast period due to the payment services, provided by banks as they offer their customers with heightened convenience, immediate withdraws and deposits, and facilitate instant money transfers through any mobile device and Mobile Network Operator (MNO). By location, remote payments sub-segment estimated to share largest market in the given period. The reason being this type of payment usually makes use of premium SMS, browser, mobile, STK/USSD, web/WAP and mobile applications and can be processed over a subscriber’s mobile phone bill, prepaid payments and credit or debit card payments. These payments are convenient for consumers to conduct any type of mobile phone to ranging from a basic handset to smartphones. Airtime Transfer and top-ups segment, under types of purchases, is expected to have the largest market share in Global Mobile Money Market during the forecast period 2016–2021 because of the fact that airtime transfers are easy; users just have to select a top-up amount and airtime transfer is done and also it is safe to use and an instant way of payment. On the basis of geography Global Mobile Money Market is segmented by North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. Increasing in the application of Mobile Money is trending the overall Global Mobile Money Market. Increased Use of Mobile Devices and Technological Advancements among users, The Era of Cash-Less Payments, Inventing New Business Avenues for Stakeholders, Developing Demographic Needs across Regions and Increase in Use of Mobile Money Services Across Businesses are the major factors in driving the Global Mobile Money Market. However common data security awareness, interoperability among devices and lack of awareness regarding the benefits related to mobile money services act as restraining factors for the Global Mobile Money Market. Asia-Pacific is expected to gain the largest market share as well as to grow with the highest, due to the extensive acceptance of mobile money services along with the escalating advancements by the users in regulations and technologies benefitting all the stakeholders present in the mobile money ecosystem in this region, along with the presence of the vast number of mobile subscribers.

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