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Africa Mobile Money Market Worth $14.27 Billion by 2020DALLAS, July 15, 2015 /PRNewswire/ -- According to a new market research report, "Africa Mobile Money Market by Transaction mode (NFC/Smart Cards, Direct Mobile Billing, Mobile Web/WAP Payments, SMS, STK/USSD, and others), by Nature of Payment, by Location, by Type of Purchase, and by Country - Forecast to 2020", published by MarketsandMarkets, Africa Mobile Money Market to grow from $2.73 Billion in 2015 to $14.27 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 39.2%. Browse 87 market data Tables and 43 Figures spread through 181 Pages and in-depth TOC on "Africa Mobile Money Market" http://www.marketsandmarkets.com/Market-Reports/africa-mobile-money-market-213412592.html Early buyers will receive 10% customization on this report. The market report defines, the Africa Mobile Money Market based on various transaction modes, nature of payments, location types, and types of purchases with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving this market, various restraints, and opportunities impacting it along with the adoption trends. For more Inquiry: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=213412592 With the growing availability of financial solutions on mobile phones, the mobile users have been able to take timely business decisions and in accomplishing faster financial transactions simply through their mobile devices. The mobile money services provided by Mobile Network Operators (MNOs), banks, and payment processing agents prominently include the usage of mobile phones to transfer electronic money, send and receive international remittances, send and receive money from one mobile device to another, deposit and withdraw money, book travel or movie tickets, make bill payments, pay utility bills, make airtime transfers, and recharge top-ups, among various others. These mobile money services can be seamlessly used by both banked and unbanked customers present worldwide. Further, with the mobile device becoming a routine usage in the daily life of the people, mobile money services have promnently transformed the user's payment and money transfer experiences. The major vendors of the Africa Mobile Money Market are Vodacom, Orange S.A, Airtel, Econet Wireless, Mcel, Tigo, Safaricom, MTN, and Zantel. The major forces driving this market are the increase in mobile penetration, creation of new revenue stream for the stakeholders, and rise in interoperability. MarketsandMarkets broadly segments the Africa Mobile Money Market by country into South Africa, Kenya, Tanzania, Zimbabwe, Uganda, Angola, Zambia, DRC, Namibia, Mauritius, Mozambique, Malawi, Madagascar, and Others (Ghana, Rwanda, Botswana, and Lesotho); by transaction mode into NFC/smart card, direct mobile billing, Short Messaging Services (SMS), STK/USSD, and others (Interactive Voice Response (IVR), Bluetooth, Wi-Fi, JRME, BREW, and other in-store mobile applications); by nature of payments into person to person, person to business, business to person, and business to business; by location type into remote payments and proximity payments; by type of purchases into airtime transfers and top-ups, money transfers and payments, merchandise and coupons, travel and ticketing, and digital products. MarketsandMarkets forecasts the Africa Mobile Money Market to grow from $2.73 Billion in 2015 to $14.27 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 39.2%. In terms of countries, Kenya is expected to be the biggest market in terms of market size, whereas Mozambique, Madagascar, and Malawi are expected to experience increased market traction during the forecast period. Browse Related Report Mobile Money Market by Transaction Mode, Nature of Payment, Location, Type of Purchase, & by Industry (BFSI, Telecom & IT, Media & Entertainment, Healthcare, Retail, Travel & Hospitality, Transportation & Logistics, Others) - Global Forecast to 2019 Contactless Payments Market [by Solutions (Payment Terminal, Business Management, Card Issuance, Anti-Skimming), by Services (Consultation, Integration, Value Added Services)] - Global Advancements, Market Forecasts and Analysis (2013 - 2018) About MarketsandMarkets MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. Contact: SOURCE MarketsandMarkets 
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