Faster networks to drive mobile money

Monday, February 3, 2014

THE roll-out of super-fast mobile networks will aggressively drive the uptake of mobile money services, as research by MEF, the global community for mobile content and commerce, shows a quarter of users say they do not make mobile payments because “the network is too slow”.

The study says the lack of faster networks in many countries, especially emerging markets, could “help explain why fewer than one in seven mobile media users have made some form of mobile payment”.

Conversely, those connected to super-speedy 4G or long-term evolution (LTE) networks are much more engaged, as 64% have made a mobile payment.

Source: Business Day (link opens in a new window)

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banking, digital payments, mobile finance, mobile money