Through new business opportunities, mobile money is making progress in Latin America. The scene has evolved into an environment with its own set of characteristics.
Understanding it is a must for companies and professionals who want to be stakeholders in this market.
Frecuencia Latinoamérica has put together this latest infographic that easily summarizes the most telling figures. This material is made available for free and will help you to get a better understanding of the key aspects of mobile money in Latin America. Generally speaking, mobile money falls into three major categories. According to AMI Consulting, the various prospects and developments can be mapped out using these three different models.
The first model, with a penetration of over 7 percent, has Bolivia, Haiti and Paraguay as three of its leading exponents. Next on the list are countries that demonstrate positive conditions, like Mexico and Brazil. Last is the group with the least amount of potential, for the time being, and it includes Nicaragua, Costa Rica and Chile, among others.
All paths lead to mobile money
This infographic reveals the major aspects to consider when investing in a mobile money project in Latin America. Data and information from various nations serve as an essential guide for formulating a business plan.
According to the World Bank, 51% of the population in the region has a bank account. That means that nearly half of all people are eager to acquire new payment systems.
At the same time, the highest concentration of Millennials, the first generation of digital natives in the world, is in Latin America (Facebook). In that article we explained why it will be young people who will also dominate digital communication.
Even with the major differences depending on the markets, e-commerce is growing at record pace. Argentina, Mexico and Brazil are in the lead in terms of choices and offers, and they have an audience that continues to grow. New payment options and service platforms will find plenty of fertile ground here for providing their solutions.
An event to get to know the stakeholders
The 8th annual M2Banking & Fintech Latam conference will take place in Silicon Valley from July 18 to 20. This one-of-a-kind event will bring together the fintech community, the financial sector as well as financial providers. There will be three full days with exhibitor panels and discussions on banking issues, payments and mobile money. One day will be devoted to touring the facilities of pioneering and innovative companies in Silicon Valley. Among the latest confirmed companies to be visited will be PayPal and Plug & Play, one of the most important accelerators in the world, with over 2,000 startups to its name.
Confirmed speakers include Rosanna Ramos Velita, Chairperson, Caja Rural Los Andes, as well as Miguel Arce, Commercial Manager, Peru Digital Payments, and Jonathan Nelson, CEO, Hackers / Founders, among many others. The complete list of panelists can be found here. For more information about the conference, email anamaria@frecuenciaonline.com. The infographic can also be downloaded for free in Spanish.