Pakistan Surges Ahead of India in Mobile Money Revolution

[RiazHaq]

Haq's Musings: Mobile Money Revolution: Pakistan Surges Ahead of India

Pakistan government is handing out Rs. 40,000 per family to nearly a million internally displaced persons (IDPs) through mobile service operator Zong's mobile SIMs. The government is attempting to ease the discomforts of displacement for such a large number of people displaced after the start of Pakistan Army's Operation ZarbeAzb to root out terrorists from North Waziristan tribal agency. Zong is one of several mobile service operators offering Easypaisa m-money service. It was pioneered by Telenor Pakistan.


Easypaisa moved $3.5 billion in fiscal 2012-13. Bangladesh's bKash did $4 billion over the same period. These figures were well ahead of the $3.2 billion moved in comparable period by India's M-Pesa mobile money network, according to New York Times. Over the last 12 months, the m-money market volume in Pakistan has reached 153 million annual transactions worth US$ 6.2 billion, according to Asian Development Bank.


Easypaisa M-money Growth in Pakistan (Source: ADB)

Pakistan’s m-money infrastructure has grown rapidly since the launch of the first domestic initiative in October 2009. This expansion has been enabled by a liberal financial and telecommunications regulatory framework, and active private sector participation. Four out of five cellular mobile companies currently operating in Pakistan have launched m-money systems in partnership with financial institutions. The m-money market volume has reached 153 million annual transactions worth US$ 6.2 billion.

There are two ways through which m-money services are offered in Pakistan. Over 95% of m-money transactions are done through mobile banking (m-banking) agents, and the rest are processed directly through customers’ mobile-wallet (m-wallet) accounts, using mobile phones. M-banking agents (retail points) provide the basic infrastructure for Pakistan’s m-money services, whereas customers’ m-wallet accounts currently have a limited role in the m-money services market.

It is believed that the reason why India lags behind Bangladesh and Pakistan in mobile money is because its regulators require mobile operators to work with banks to provide the services. Mobile networks would prefer to have their own agents who can cash out the digital money into hard currency. Much of the infrastructure is already in place, because there are so many locations where customers can top up on airtime. But the mobile operators are not allowed to use those sales outlets as financial agents in India.

Haq's Musings: Mobile Money Revolution: Pakistan Surges Ahead of India

 

[Hemlock Khalid]

way to go...

 

[A.Rafay]

Pakistans Mobile Subscription reached 140 million, density of more than 70%.

 

[Chanakya's_Chant]

Using M-Pesa is not the only way out! India is a top use of mobile banking as well - we don't have to rely upon one service only - we have many to chose from!

With total payments approaching $9 trillion, India’s payments industry had revenues of nearly $14 billion in FY13!

Mobile Banking In India–$350 Billion Worth Of Transaction Expected By 2015 : NextBigWhat

Ever heard of IMPS? - Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones in India. We are using this service as well apart from the above mentioned - IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put high interbank fund transfers in a secured manner with immediate confirmation features.

Immediate Payment Service - Wikipedia, the free encyclopedia

Airtel Money, which is one of the largest mobile wallet players in India, witnessed a wide acceptability last year while achieving a growth of monthly active subscribers of nearly 55 percent year-on-year.

Mr. Haq has bad habit of highlighting only those parts of the articles which pleases him - rest of the fact are to be ignored - The same same article by NYT says -

"By 2015, mobile money transfers in India could total $350 billion annually, some analysts estimate."

“Within three to five years, you will see more than 30 percent of this country’s payments moving on a mobile device.”

​

The size of the opportunity has attracted the major banks and mobile network operators but also at least a dozen new companies, including Beam Money, CanvasM, Ezetap, PayMate, Y-Cash and Zaakpay. The most rapidly growing new venture is MoneyOnMobile. In operation less than three years, MoneyOnMobile already has attracted four times as many users as Kenya’s M-Pesa (75 million versus 18 million) and twice as many retail outlets (163,000 versus 79,000) although its transaction volume is tiny by comparison.

India records a much higher growth rate in this concern - by 2020 we will have 30% of the entire transaction in this mode only - It would simply cross a trillion$$!

 

[third eye]

How silly is this.

The last para makes a reference to India and the title sounds like Pak ' surges ' ahead in space technology or something.

Its an internal thing, each nation has its own rules on how it would like to regulate movement of money.

Whats the fuss ? India has more money moving around than what Pak can ever have hence the need for monitoring .

Talk of obsessions..

 

[SrNair]

Taking one or two field and comparing it with India.LoL
Everyone nation has its own rules ,regulations ,financial capability etc.You must show some confident in that.

 

[Gautam]

Its proved once again that Pakistanis are superior than Indians. Good news.

 

[punit]

Using M-Pesa is not the only way out! India is a top use of mobile banking as well - we don't have to rely upon one service only - we have many to chose from! Mobile banking is over $ 300 billion in India already!

Mobile Banking In India–$350 Billion Worth Of Transaction Expected By 2015 : NextBigWhat

Ever heard of IMPS? - Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones in India. We are using this service as well apart from the above mentioned - IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put high interbank fund transfers in a secured manner with immediate confirmation features.

Immediate Payment Service - Wikipedia, the free encyclopedia

Airtel Money, which is one of the largest mobile wallet players in India, witnessed a wide acceptability last year while achieving a growth of monthly active subscribers of nearly 55 percent year-on-year.

Mr. Haq has bad habit of highlighting only those parts of the articles which pleases him - rest of the fact are to be ignored - The same same article by NYT says -

"By 2015, mobile money transfers in India could total $350 billion annually, some analysts estimate."

“Within three to five years, you will see more than 30 percent of this country’s payments moving on a mobile device.”

The size of the opportunity has attracted the major banks and mobile network operators but also at least a dozen new companies, including Beam Money, CanvasM, Ezetap, PayMate, Y-Cash and Zaakpay. The most rapidly growing new venture is MoneyOnMobile. In operation less than three years, MoneyOnMobile already has attracted four times as many users as Kenya’s M-Pesa (75 million versus 18 million) and twice as many retail outlets (163,000 versus 79,000) although its transaction volume is tiny by comparison.

India records a much higher growth rate in this concern - by 2020 we will have 30% of the entire transaction in this mode only - It would simply cross a trillion$$!

damn! u burst their bubble !!

 

[pursuit of happiness]

Haq's Musings: Mobile Money Revolution: Pakistan Surges Ahead of India

Pakistan government is handing out Rs. 40,000 per family to nearly a million internally displaced persons (IDPs) through mobile service operator Zong's mobile SIMs. The government is attempting to ease the discomforts of displacement for such a large number of people displaced after the start of Pakistan Army's Operation ZarbeAzb to root out terrorists from North Waziristan tribal agency. Zong is one of several mobile service operators offering Easypaisa m-money service. It was pioneered by Telenor Pakistan.


Easypaisa moved $3.5 billion in fiscal 2012-13. Bangladesh's bKash did $4 billion over the same period. These figures were well ahead of the $3.2 billion moved in comparable period by India's M-Pesa mobile money network, according to New York Times. Over the last 12 months, the m-money market volume in Pakistan has reached 153 million annual transactions worth US$ 6.2 billion, according to Asian Development Bank.


Easypaisa M-money Growth in Pakistan (Source: ADB)

Pakistan’s m-money infrastructure has grown rapidly since the launch of the first domestic initiative in October 2009. This expansion has been enabled by a liberal financial and telecommunications regulatory framework, and active private sector participation. Four out of five cellular mobile companies currently operating in Pakistan have launched m-money systems in partnership with financial institutions. The m-money market volume has reached 153 million annual transactions worth US$ 6.2 billion.

There are two ways through which m-money services are offered in Pakistan. Over 95% of m-money transactions are done through mobile banking (m-banking) agents, and the rest are processed directly through customers’ mobile-wallet (m-wallet) accounts, using mobile phones. M-banking agents (retail points) provide the basic infrastructure for Pakistan’s m-money services, whereas customers’ m-wallet accounts currently have a limited role in the m-money services market.

It is believed that the reason why India lags behind Bangladesh and Pakistan in mobile money is because its regulators require mobile operators to work with banks to provide the services. Mobile networks would prefer to have their own agents who can cash out the digital money into hard currency. Much of the infrastructure is already in place, because there are so many locations where customers can top up on airtime. But the mobile operators are not allowed to use those sales outlets as financial agents in India.

Haq's Musings: Mobile Money Revolution: Pakistan Surges Ahead of India

--
Sir, can you reply post 4 statsvs your claim...?

 

[SledgeHammer]

Using M-Pesa is not the only way out! India is a top use of mobile banking as well - we don't have to rely upon one service only - we have many to chose from! Mobile banking is over $ 300 billion in India already!

Mobile Banking In India–$350 Billion Worth Of Transaction Expected By 2015 : NextBigWhat

Ever heard of IMPS? - Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones in India. We are using this service as well apart from the above mentioned - IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put high interbank fund transfers in a secured manner with immediate confirmation features.

Immediate Payment Service - Wikipedia, the free encyclopedia

Airtel Money, which is one of the largest mobile wallet players in India, witnessed a wide acceptability last year while achieving a growth of monthly active subscribers of nearly 55 percent year-on-year.

Mr. Haq has bad habit of highlighting only those parts of the articles which pleases him - rest of the fact are to be ignored - The same same article by NYT says -

"By 2015, mobile money transfers in India could total $350 billion annually, some analysts estimate."

“Within three to five years, you will see more than 30 percent of this country’s payments moving on a mobile device.”

The size of the opportunity has attracted the major banks and mobile network operators but also at least a dozen new companies, including Beam Money, CanvasM, Ezetap, PayMate, Y-Cash and Zaakpay. The most rapidly growing new venture is MoneyOnMobile. In operation less than three years, MoneyOnMobile already has attracted four times as many users as Kenya’s M-Pesa (75 million versus 18 million) and twice as many retail outlets (163,000 versus 79,000) although its transaction volume is tiny by comparison.

India records a much higher growth rate in this concern - by 2020 we will have 30% of the entire transaction in this mode only - It would simply cross a trillion$$!

Excellent reply, now the op has to churn out a new thread, this one ended with your post!!

 

[RiazHaq]

Using M-Pesa is not the only way out! India is a top use of mobile banking as well - we don't have to rely upon one service only - we have many to chose from! Mobile banking is over $ 300 billion in India already!

Mobile Banking In India–$350 Billion Worth Of Transaction Expected By 2015 : NextBigWhat

This is a highly optimistic forecast for India made in 2011 which has so far been proved wrong....it's like many other highly optimistic forecasts for India that have not materialized as its economy has slowed considerably.

BTW, here's what I forecasted for India back in 2011:

Haq's Musings: Indian Economy Slowing to "Hindu Rate of Growth"?

 

[punit]

This is a highly optimistic forecast for India made in 2011 which has so far been proved wrong....it's likely many other highly optimistic forecasts for India that have not materialized as its economy has slowed considerably.

BTW, here's what I forecasted for India back in 2011:

Haq's Musings: Indian Economy Slowing to "Hindu Rate of Growth"?

nice face saving gesture !!

 

[illuminatidinesh]

I thought they had invented something new! Lol another ego boosting thread.

 

[Chanakya's_Chant]

This is a highly optimistic forecast for India made in 2011 which has so far been proved wrong....it's like many other highly optimistic forecasts for India that have not materialized as its economy has slowed considerably.

BTW, here's what I forecasted for India back in 2011:

Haq's Musings: Indian Economy Slowing to "Hindu Rate of Growth"?

Year on Year Growth Rate - 67.27% in number of transactions
- 115.00% in amount of transaction

Enough said!

Hindu rate of growth = 3.5%! seriously? We are growing at 4.7% - will be able to grow at 7% in FY16 but still much better than faking figures from 3.5% to 4.1% - Pakistan can't even even match the Indian growth rate even after faking its growth figures

Credibility in question: GDP growth for 2013-14 much lower than 4.1%, says IPR – The Express Tribune

Excellent reply, now the op has to churn out a new thread, this one ended with your post!!

damn! u burst their bubble !!

Just love the way they lie!

 

[RiazHaq]

Year on Year Growth Rate - 67.27% in number of transactions
- 115.00% in amount of transaction

Enough said!

Hindu rate of growth = 3.5%! seriously? We are growing at 4.7% - will be able to grow at 7% in FY16 but still much better than faking figures from 3.5% to 4.1% - Pakistan can't even even match the Indian growth rate even after faking its growth figures

Credibility in question: GDP growth for 2013-14 much lower than 4.1%, says IPR – The Express Tribune




Just love the way they lie!

Add it all up in US$...it adds up to less than $3.2 billion in India, lower than $3.5 billion in Pakistan and 4 billion in Bangladesh.

Also read the following:

http://www.nytimes.com/2013/12/05/b...nts-gain-traction-among-indias-poor.html?_r=0

A soft revolution of mobile money in Pakistan: A pathway to financial inclusion - Asian International Economists Network