London/Zurich, May 22, 2013 - Management and technology consultancy BearingPoint has released the findings of its major study into mobile money adoption for the European Bank for Reconstruction and Development (EBRD). Spanning the 29 countries of EBRD operations, this landmark research examines the benefits and challenges of mobile money deployment across the region.
BearingPoint’s research finds that consumers stand to gain most from the growth of M-commerce with the benefits of greater financial inclusion, increased socio-economic development and improved security of cash. Companies adopting mobile money will gain the advantages of operational cost reduction, increased market penetration and greater customer retention and for governments the move to M-commerce will reduce the shadow economy and increase tax revenues.
There are hurdles to overcome, however. Universal mobile telecom network coverage and access to smart devices are essential to run mobile money platforms and governments need a progressive regulatory regime to foster the development of these novel payment structures.
Christian Bruck, Partner Financial Services at BearingPoint, says: “There are sizeable opportunities for mobile money players across the EBRD region, although not everyone is operating at the same speed and with the same focus.”
Andreas Rindler, Senior Manager Financial Services at BearingPoint, says: “Most of the prerequisites for M-money have been met, but tailored propositions are required to develop markets currently at differing levels of maturity while maintaining all-important inter-operability.”
You can download the BearingPoint research and other papers from the EBRD mobile money conference here: http://www.ebrd.com/pages/news/events/mobile-money.shtml
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