<p>A report released by Arthur D Little (ADL), a global management consulting firm, evaluating the current market conditions for mobile financial services in M-BRIC countries (Mexico, Brazil, Russia, India and China) has recommend potential players to enter these market immediately.<br /><br />While only 32 million people in M-BRIC currently use mobile financial services, the firm projects that this number will increase to 290 million users by 2015, accounting for 10 per cent of their population.<br /><br />These users are expected to conduct a total of 20 billion transactions in 2015, with 6.9 billion in China, the report said.<br /><br />The report said that as mobile financial services are experiencing a global surge, the world's total m-payment transaction volume is to reach approximately USD 280 billion by 2015.<br /><br />"In M-BRIC countries, there is a substantial base of people on a low income spread across vast distances who own mobile phones and require banking services," Thomas Kuruvilla, Managing Director, Arthur D Little Middle East, said.<br /><br />"By bringing these two factors together, service providers can meet the need for a more extensive payment distribution network, especially in rural areas," he added.<br /><br />In India, m-payments will be bank-led, with banks offering this service to regions where ATMs and branches are not in reasonable distance. Over the next two years, players should focus their attention on top-ups and bill payments services.<br /><br />China's mobile phone users topped 800 million in the first half of 2010 and despite such a high mobile penetration, China's mobile payments are still in their infancy, and competition in the market is already intense, China Daily reported.<br /><br />A variety of players, such as mobile network organisers, independent service providers and banks, have already deployed a variety of technologies.<br /><br />Competition between telecom operators and banks for a dominant role in the new industry may also thwart the development of mobile payments in China, Cao Fei, an analyst from research firm Analysys International said.</p>
<p>A report released by Arthur D Little (ADL), a global management consulting firm, evaluating the current market conditions for mobile financial services in M-BRIC countries (Mexico, Brazil, Russia, India and China) has recommend potential players to enter these market immediately.<br /><br />While only 32 million people in M-BRIC currently use mobile financial services, the firm projects that this number will increase to 290 million users by 2015, accounting for 10 per cent of their population.<br /><br />These users are expected to conduct a total of 20 billion transactions in 2015, with 6.9 billion in China, the report said.<br /><br />The report said that as mobile financial services are experiencing a global surge, the world's total m-payment transaction volume is to reach approximately USD 280 billion by 2015.<br /><br />"In M-BRIC countries, there is a substantial base of people on a low income spread across vast distances who own mobile phones and require banking services," Thomas Kuruvilla, Managing Director, Arthur D Little Middle East, said.<br /><br />"By bringing these two factors together, service providers can meet the need for a more extensive payment distribution network, especially in rural areas," he added.<br /><br />In India, m-payments will be bank-led, with banks offering this service to regions where ATMs and branches are not in reasonable distance. Over the next two years, players should focus their attention on top-ups and bill payments services.<br /><br />China's mobile phone users topped 800 million in the first half of 2010 and despite such a high mobile penetration, China's mobile payments are still in their infancy, and competition in the market is already intense, China Daily reported.<br /><br />A variety of players, such as mobile network organisers, independent service providers and banks, have already deployed a variety of technologies.<br /><br />Competition between telecom operators and banks for a dominant role in the new industry may also thwart the development of mobile payments in China, Cao Fei, an analyst from research firm Analysys International said.</p>