Asia-Pacific Mobile Money IMarket research report – ken Research


The mobile payments market in Asia Pacific region is relatively varied and highly fragmented. It consists of a diverse set of both developed and developing markets with different payment ecosystems and contexts which ranges widely in terms of established and modern telecommunications, retail and transport infrastructure, number of unbanked and under-banked customers, economic status and most importantly industry standards and levels of regulatory compliance. However, consumers and businesses in Asia-Pacific region have been increasingly embracing mobiles as a channel for their financial transactions. Overall, the mobile money industry in Asia-Pacific region has inclined at a CAGR of ~% over the period of 2008-2014, receiving a major push from the countries including China and India.

Japan and South Korea were amongst the leading nations for the adoption of mobile payments in the world and in Asia, owing to presence of most developed mobile cultures. On the other side, the rapid adoption of mobile banking services in countries such as China and India have also facilitated the growth of the mobile payments market in the region. The young demography and prevalence of a growing remittance industry has further aggravated the market for mobile payments in nations including the Philippines and Indonesia.

Asia Pacific mobile payments industry has witnessed a majority of the transactions being funded by bank accounts or through credit and debit cards. The mobile banking services have been offered by a number of banks in various countries in the region. However, size of mobile banking transactions is huge in countries such as China and India. In 2013, China recorded a three-fold increase in the transactions value of mobile banking services, ascending from USD ~ billion in 2012 to USD ~ billion.


The mobile money industry in China has showcased a magnificent growth over the span of last few years. The country is deemed as the most opportunistic destination for the development of mobile payment sector in the world, with a subscriber base of more than ~ billion mobile phone users in 2014. The top tier cities such as Beijing and Shanghai have more than 100% mobile penetration rate. The size of the mobile phone subscribers in China is three times as big as the mobile subscriber base in North America and bigger than than the entire subscriber base in Europe. Along with this, the 3G services have been developing robustly the 3G services have been developing robustly in China and the number of 3G users has reached nearly 152 million people.

China also has a highly bancarized population with more than 3 billion banking cards in distribution at the end of 2014. Additionally, in over 440 of the nearly 600 cities in China, public transportation systems have been established which enable people to swipe smart cards, thus reflecting the penetration of contactless technologies. Furthermore, China hosts many major companies including handset manufacturers, telecom network equipment developers, and POS terminal manufacturers among others. The mobile payments landscape of China however, is marked with the presence of domestic



Mobile phones have a high potential of becoming a strong platform for financial inclusion by extending banking and payment services among the masses. The high outreach and the low costs involved are the largest advantages of the mobile phones as compared to other channels delivering banking services in the country. The use of mobile phones for banking and payment transactions is rapidly growing in India. For instance, by the end of 2014 around ~ million subscribers were already utilizing their mobile phones for banking purposes. The number of banking services available on mobile phones is limited. However, there lies a huge potential to offer many banking and payment services through this channel to both the banked as well as the financially excluded population.

The mobile payments and m-wallet offerings in India have the potential to overcome the problems posed by the limited reach of the banking services by lowering the cost of the domestic remittances. The domestic M-Wallet market is still in a nascent stage but is experiencing a robust growth. In 2014, the market reached USD ~ million in terms of principal transactions. The market reach of two of the best financed services, Airtel Money and Vodafone M-Pesa has been expanding across the country in the recent years. Apart from these, various other mobile money or wallet services have also been launched, such as MoneyOnMobile, Ezetap and others, which have managed to gain increasing growth in volume terms in the market in the last two years.

A number of startups of mobile payment service providers have been launched in the country post the rollout of mobile payments framework by the central bank of India in 2011. The significant players include Airtel Money and Vodafone M-Pesa. A number of mobile payment ventures have been focusing upon providing services to tap the domestic remittance market. This segment represents a huge market for the mobile payments providers as a majority of them are unbanked, but possess a mobile phone. The consistent growth in the number of wireless transfers noted in the last few years is also an indicator of the favorable environment for mobile payments in the country.


  1. Global Mobile Money Industry

1.1.         Global Mobile Money Market Size and Segmentation

By Transaction Value, 2008-2014

By Number of Transactions, 2009-2014

By Number of Accounts, 2011-2014

Market Segmentation by Regions, 2009-2014

  1. Asia- Pacific Mobile Money Industry

2.1.         Introduction and Market Size, 2009-2014

2.2.         Value Chain Analysis in Mobile Money Market

2.2.1.      Mobile Money Industry Participants   Supply Side

Mobile Network Operators

Device Manufacturers and Mobile Operating System Providers

Financial Institutions

Payment Network   Demand Side



  1. Financial Regulations, Licensing Rules, Mobile Payment Standards
  2. Business Models in Mobile Money Industry


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