At the same time, the number of users carrying out transactions using mobile money is expected to total 340 million by 2014, equivalent to 5 per cent of existing mobile subscribers across the globe, the report said.
There were 81.3 million people worldwide that used their mobile devices to make payments in 2009 and the value of m-payments stood at US$69 billion during the period, according to an estimate.
The report said mobile money is being seen as the key for many operators in Asia to provide value-added services to customers and operators in emerging markets, such as the Philippines and Bangladesh, as well as a catalyst for bringing banking services to the large unbanked population of these countries.
(Published 26 September 2011, 15:20 IST)
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