In its latest research, Worldwide Mobile Money Modernisation and Monetisation (a.k.a. Modern Mobile Money 2017), TeleResearch Labs finds modern mobile money players to have achieved average revenue growth of up to 18% — by selectively investing in modern mobile money systems, APIs/ services, & user experience [1q 2017]. 

The research further portends this trend to continue bolstering from previous 18% to 24% by the year 2022. "Thanks to the stiff attitude of over 85-90% players who’re (still) clinging to the 'sub-traditional’ offerings (read "business models”); & ways of consumer handling (read "servicing & delivering”), all focussed solely on onboarding without any credible plan of/ for fast monetization & repeat business".

“It appears many have forgotten the dog and following the tail”, Oscar Mine, Principal Analyst at TeleResearch Labs criticising the present state of the industry. "There’re so many gaps, opportunities that nearly no-one is exploiting especially when retail, commerce, banking, & payment systems have all merged at large presenting opportunities never known before . . . It is disappointing to see Mobile Operators trying too hard becoming a replica of the Banks, forgetting they had a role to play; a role Banks underperformed. A Role that Customers demanded to be cut out from conventional chains and be given to outsiders”, he continues.

Having analysed over 500 business models [of approx. 280 unique businesses], the Report cites Equitel as an example of one such "Modern Mobile Money Business" that has challenged the odds and come out reporting strong growth of revenues outperforming the previous leaders in its market. In less than 2 years of (its) launch, Equitel is now the 2nd largest mobile money service provider in Kenya, as far as mobile money 'transaction values' are concerned. More interestingly, Equitel money has the mobile money subscriber share of only 4%; however, it accounts for 20% of the total mobile money transactions by volume, and 22% of total mobile money transactions by value, respectively by the end of 2016. The achievement of Equitel is noteworthy as M-Pesa has had the monopoly in Kenyan market before Equitel had even begun its operations. The research concludes “Modernisation' as the ultimate way, hinting at the mix of advanced technologies, innovation, & gratifying end-user experience for sustained growth.

TeleResearch Labs’ thought provokers~

What makes a successful “modern” mobile money business?

How modernity best be induced across Infra > to Servicing > to Executions for faster turnarounds?

Building & Maintaining a robust technological infrastructure for gains?

How can businesses (operators, banks, fintechs) determine the level of modernity present or missing from their offerings?

What is Hypergrowth? How are mobile money businesses achieving superfast results?

What’re some latest, top notch traditional/ non-traditional initiatives of Banks (& Partners)? Gaps in servicing, and How can payment banks exploit those vulnerabilities?

What are some most credible ‘mobile money— online/ offline’ offerings available to different mobile money players [mainly—mobile operators, banks, and fintechs], for the financial inclusion of the under-privileged?

How by further tweaking these offerings can be emulated/ applied to another extension of users?

The answer to these questions and many noteworthy cases of "modern mobile money" built upon hypergrowth models with revenue earning opportunities — in both developed and emerging markets— have been analysed in the Report, Worldwide Mobile Money Modernisation & Monetisation 2017-2022.

This "first-of-its-kind" research attempts to unlock sleuth of critical insights via pointing at transformative impacts of the existing "sub-traditional" systems in mobile money industry across both developed as well as emerging markets,” says David Brown, Senior Consultant, BFSI.