Mobile money transfer users to reach 100 million by 2013

David Gonzales  By on 07 Oct 08

As more and more migrant workers are sending money back home to their families, the rate of adoption of mobile money transfers is growing exponentially.

In fact, if a new analysis published by Juniper Research recently is to be believed, there would be more than 100 million users around the world who use their mobile phones for international money transfers by year 2013.

In places where the $100-laptop hasn’t been deployed yet, mobile phones will be the most important tools a migrant worker could ever have while he’s trying to save up every penny to send back home, as pointed out in the research.

“The mobile phone will become a vital enabler in developing countries because often many more people have phones than have bank accounts. The GSM Association Mobile Money Transfer global initiative emphasizes the importance that is attached to this across the mobile industry as a whole.”

The 100 million user-estimate was made on account of all major regions where international mobile money transfers were being made, and according to the report, the top three of the said regions by 2013 will be Western Europe, North America, and the Middle East.

Via RCR Wireless

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