Mobile Banking Will Surpass 140m Users in Latin America by 2015

CAMBRIDGE, Mass., Dec. 5, 2011 /PRNewswire/ -- Pyramid Research estimates that around 18m users in Latin America use financial services from their mobile devices and that this number may rise to more than 140m by 2015, according to Jose Magana, Senior Analyst at Pyramid Research (www.pyr.com) who discussed trends in mobile banking in a live webinar produced by TeleSemana (www.telesemana.com) recently. 

During this live webinar for Latin American service providers, Magana discusses how Latin America has achieved the right conditions to smoothly increase the uptake of mobile financial services, including banking and payments.  "Mobile data services are soaring now with some countries with penetration of mobile Internet close to 16% of the population," says Magana. "There is a very large percentage of the population that is younger than 30 years old: the type of demographic that is more likely to try new services."

Magana encourages operators to have an open mind with business models. "Technology is the enabler, but they might also need to adopt business models and form partnerships," explains Magana. "Also, understand that for a mobile payments service, attracting merchants is as important as attracting users; they need to be open to developers and work closely with them to enhance the value of the devices sold through their networks."

The webinar is a result of Pyramid's partnership with TeleSemana to help both companies better serve the Latin American telecom industry, and is based on Pyramid's Telecom Insider Report: Operators Take Mobile Banking to the Masses, with 65% Annual Growth Expected until 2015.

Register to view a replay of the webinar at no charge:  http://www.telesemana.com/blog/2011/10/24/identificando-las-oportunidades-de-la-banca-movil-para-los-operadores-moviles-latinoamericanos/

For more information on Pyramid's research and analysis on Latin America's telecom market, please visit www.pyr.com, or click on one of the related products below.  If you are a Pyramid client, and would like to add the content below to your account, please contact us at [email protected].

Latin America Demand Forecasts

Pyramid Research renowned market forecasts follow a structured methodological approach to forecasting. Our forecasts provide intelligence at both the country, regional and operator level for approximately 20 markets in Latin America. 

Mobile Commerce Landscape Insight Pack

Mobile Commerce Landscape Insight Pack is a new research service that combines extensive database resources with high-level expert analysis to enable payment vendors to identify and exploit new telecom revenue opportunities in mobile payment and banking. The Mobile Commerce Landscape Insight Pack offers analysis on current trends and best practices in mobile payments in emerging and developed markets. It includes up-to-the-minute data and market forecasts, an in-depth research report and a live session with a Pyramid consultant, giving quick and direct insight into key trends.

Country Intelligence Reports

Pyramid Research's premium Country Intelligence Reports are the industry's best available analysis on market trends, regulatory environments and competitive dynamics. Each report offers a precise, incisive profile of the converged telecommunications, media and technology sectors, based on proprietary data from Pyramid Research's country-by-country research.

Latin America Telecom Insiders

Telecom Insiders deliver concise, data-driven analysis of emerging market and service trends affecting the Latin-American region. Each Insider report is packed with trend analysis, industry best practices, market sizing and forecasting, competitor analysis, and case studies ― all the essential information to make more informed business decisions.

Pyramid Research (www.pyr.com) offers practical solutions to the complex demands our clients face in the global communications industry. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies and emerging business models, powered by the bottom-up methodology of our market forecasts for more than 100 countries – a distinction that has remained unmatched for more than 25 years. As a telecom research arm of the Light Reading Communications Network (www.lrcn.com), Pyramid Research contributes to the only integrated business information platform serving the $4 trillion global communications industry.

The Light Reading Communications Network (www.lrcn.com) combines the most trusted telecom research brands with award-winning online communities and a rich events portfolio to deliver the only integrated business information platform serving the global communications industry. With the power of this platform, leaders who build, deploy, finance and regulate next-generation telecom networks are able to make more informed decisions on emerging market and service opportunities. The Light Reading Communications Network is a division of UBM TechWeb (www.ubmtechweb.com), the global leader in technology media and business information.

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Jennifer Baker
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617 871 1910
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SOURCE Pyramid Research

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