Mobile Money Market - Forecast(2021 - 2026)
Mobile Money Market Overview Mobile Money Market is forecast to reach $16.2 billion by 2025, growing at a CAGR 25.9% from 2020 to 2025. Mobile money refers to paying money through your mobile devices without using the hard cash. Mobile money systems can provide a gateway for online financial service providers to tap large unexplored market avenues, as this technology has yet to be adopted by most of the population. Companies can open themselves up to other submarkets such as micropayments, data-based financial services and potential digital markets by developing digital financial capabilities. The increasing omnipresence of mobile phones is a driving factor in increasing the number of users of mobile money and changing the dynamics of digital finance solutions. Efficiency in money exchange is one of the major determinants of mobile money technology development. Increasing the efficiency of mobile money transactions can result in an increase in overall expenditure which can encourage c...