The research identified PaaP as critical to increasing revenue for mobile money vendors, as smartphone adoption and user expectations grow.
KUALA LUMPUR: A new study from Juniper Research has found that the total value of mobile money transactions in emerging markets (EMs) will exceed US$870bil (RM3.7 trillion) in 2026, up from US$555bil (RM2.3 trillion) in 2021 – representing growth of almost 60%. Mobile money in EMs includes microinsurance, microloans, microsavings and mobile money transfer.
This growth will be driven by the transition of mobile money vendors, such as M-PESA, to the PaaP (Payments-as-a-Platform) model, Bernama reported. This model enables mobile money vendors to offer their users access to third-party services such as eCommerce; creating additional revenue streams.
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