DocumentCode :
1250725
Title :
Mobile Payments in Emerging Markets
Author :
Kshetri, Nir ; Acharya, Sharad
Volume :
14
Issue :
4
fYear :
2012
Firstpage :
9
Lastpage :
13
Abstract :
Mobile payments- payment services conducted via a mobile device-have been a key driver of socioeconomic development in emerging markets. Factors such as advancements in technology, socioeconomic conditions, and the high penetration rate of mobile devices are driving m-payment development in certain emerging markets. As Tom Standage noted in his “Virgin Territory” Economist article (17 Nov. 2011), it´s “easier to use your mobile phone to pay for a taxi in Nairobi [Kenya´s capital] than in New York.” A well-developed m-payment ecosystem has evolved in Kenya that, as of February 2012, had over 18 million m-payment users. In the Asia Pacific, m-payment is expected to grow by 15 percent annually, reaching US$3.8 billion by 2015.2 Likewise, mobile banking in Africa is expected to reach US$22 billion by 2015.3 Table 1 presents some examples of m-payment systems in the emerging economies of Africa, Asia, and Latin America.
Keywords :
banking; mobile computing; socio-economic effects; Africa; Asia; Latin America; emerging markets; m-payment development; m-payment ecosystem; mobile banking; mobile device; mobile payments; payment services; socioeconomic conditions; socioeconomic development; Costs; Economics; FInancial management; Marketing and sales; Mobile communication; Pricing; emerging economies; mobile payments;
fLanguage :
English
Journal_Title :
IT Professional
Publisher :
ieee
ISSN :
1520-9202
Type :
jour
DOI :
10.1109/MITP.2012.82
Filename :
6248655
Link To Document :
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