Massive growth in mobile banking usage in South Africa - Mobile World Live

Massive growth in mobile banking usage in South Africa

20 FEB 2011

A recent survey of mobile banking usage in South Africa shows significant growth in usage of this service. (Read here). This survey published about two weeks ago, shows that the number of subscribers now using mobile banking has almost doubled (up from 27% to 44% in one year). The growth in transaction services was also healthy with purchasing airtime and bill payments the biggest penetration. A substantial percentage (12%) are now sending money from one phone to another.What is interesting about the South African mobile banking landscape is the number of players providing a viable services. Most of the banks (if not all) provide mobile banking services, the two largest mobile operators have launched mobile money services and many independent providers are also growing strongly (Wizzit, Pocit, MiMoney, to name a few). This shows that a market can develop well with healthy competition and a number of independent players. While this does not lead to one spectacular success, this is probably more sustainable and will lead to a healthy and sustainable growth.

Read more: http://mbanking.blogspot.com/2011/02/massive-growth-in-mobile-banking-usage.html

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