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1、2017 State of the Industry Report on Mobile Money Copyright 2018 GSM Association The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with almost 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment
2、 providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai, Mobile World Congress Americas and the Mobile 360 Series of conferences. For more information, pleas
3、e visit the GSMA corporate website at Follow the GSMA on Twitter: GSMA GSMA Mobile Money The GSMAs Mobile Money programme works to accelerate the development of the mobile money ecosystem for the underserved. For more information, please contact us: Web: Twitter: gsmammu Email: THE MOBILE MONEY PROG
4、RAMME IS SUPPORTED BY THE BILL p. 56 5 Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) Abridged Postal p.12 10 2017 STATE OF THE INDUSTRY REPORT ON MOBILE MONEY THE BIG PICTURE: ADOPTION, ACCESSIBILITY, USAGE AND REVENUES Total Sub-Saharan African accounts 2012/2017 2012, % s
5、hare2017, % share 338m75m 9.7% Middle Africa 3% Southern Africa 30.9% Western Africa 3.5% Southern Africa 3.6% Middle Africa 16.7% Western Africa 76.1% Eastern Africa 56.4% Eastern Africa Breakdown of total value transacted per average customer Bulk disbursements $10.7 Bill payments $9.5 Merchant pa
6、yments $4.3 Airtime top-ups $2.8 P2P transfers $57 Cash-in $56.4 Cash-out $45.9 The average mobile money customer is moving $188 per month FIGURE 2 BREAKDOWN OF TOTAL VALUE TRANSACTED PER AVERAGE MOBILE MONEY CUSTOMER* * Total US$ value transacted per active customer per month. Calculation: Number o
7、f transactions per active customer per month x average value transacted per active customer per month. THE BIG PICTURE: ADOPTION, ACCESSIBILITY, USAGE AND REVENUES11 2017 STATE OF THE INDUSTRY REPORT ON MOBILE MONEY FIGURE 1B SUB-SAHARAN AFRICA CUSTOMER MIX FROM DECEMBER 2012 - DECEMBER 2017 INDUSTR
8、Y SPOTLIGHTS Rural and female customers remain two of the hardest to reach groups and thus two of the most untapped commercial opportunities for providers. Increasing amounts of investment and innovation are being directed toward addressing this. Beyond the urban areas Providers have invested in exp
9、anding their rural agent networks in recent years. Forty-eight per cent of deployments taking part in the 2017 Global Adoption Survey identified greater rural penetration as one of their top three strategic priorities. This has yielded some encouraging progress, particularly in predominantly rural m
10、arkets, where mobile money providers captured 22 per cent of the addressable market in 2017, up from 17 per cent in 2015.6 Reaching women According to the 2017 adoption survey, women make up just 36 per cent of registered mobile money customers. This figure varies significantly by deployment, from 1
11、5 per cent to nearly 50 per cent. A major challenge for providers remains segmenting customer bases by gender. The number of providers tracking this is growing, alongside consumer insights research into how to increase uptake and use by women. Nevertheless, the barriers to getting the data right rem
12、ain significant, as many accounts used by women are registered under a mans name because of, for example, the gender gap in identity ownership, gendered cultural norms, or shared family accounts. In this context, government policy interventions to introduce foundational identities and promote digita
13、l literacy amongst women can play a crucial role in helping providers to reach more women. Research by the GSMA, conducted in Cte dIvoire and Mali, found that a perceived lack of need and lack of money, as well as low literacy rates and lack of trust, also limit womens ability or willingness to use
14、mobile money. The study set out an approach for analysing customer data with a gender lens, which can help providers overcome these challenges.7 and (b) connectivity infrastructure, an agent network and liquidity management to ensure beneficiaries have a positive and smooth experience. The project h
15、as also benefitted from strong organisational capacity, trusted relationships, and the agility to make projects succeed in a difficult context.9 Operator and NGO partnership snapshots INDUSTRY SPOTLIGHTS13 THE METHODOLOGY: LEVERS TO SCALE 2017 STATE OF THE INDUSTRY REPORT ON MOBILE MONEY 14 THE METH
16、ODOLOGY: LEVERS TO SCALE High Mobile money providers Registered mobile money accounts as a proportion of total operator connections Active mobile money accounts as a proportion of registered mobile money accounts Low High 31 On average each of these providers is integrated with 95+76,500 FIGURE 3 RE
17、ACHING SCALE IN MOBILE MONEY13 A steady uptick in active customers, transactions and direct revenue are all signs that mobile money is evolving into a sustainable industry and an important driver of economic growth in developing markets. While profitability remains a challenge for many providers, a
18、growing number are enjoying healthy margins. More than one in four mobile money deployments reported healthy EBITDA11 margins of 25 per cent or more. A 2014 study by GSMA12 identified scale as a critical factor for mobile money providers to achieve profitability. Scale implies on-boarding a large pr
19、oportion of a providers customer base, increasing the number of transactions per customer and decreasing reliance on cash-based transactions (such as cash-ins and cash-outs). The figure below displays the percentage of an MNO customer base registered for a mobile money account (i.e. the addressable
20、market in the case of a USSD-based service and/or an app locked to a single network) against the percentage of mobile money customers actively using the service (see Figure 3). It is clear that some deployments those in the top right corner have cracked the recipe for mobile money and managed to gro
21、w their activity rates and customer base to achieve scale. Two things distinguish the providers in the top right- hand quadrant from the rest. First, they are serving as platforms for a wider payments ecosystem. On average, these providers are each integrated with seven banks, over 95 billers and 31
22、 organisations for bulk disbursements, and 6,500 merchants. This, in turn, means higher average revenue per user: $1.7 per active customer, versus $1.2 on average across all providers. Second, providers in the top right overwhelmingly enjoy enabling regulation. Beyond this, weve identified four leve
23、rs of growth that providers can take hold of as they aspire to move into the top right-hand quadrant and, with the rollout of smartphone apps for use by customers on any network, far beyond. 11 EBITDA stands for earnings before interest, taxes, depreciation and amortization, and is an indicator of a
24、 companys financial performance. 12 Almazan, M. and Vonthron, N. (2014). “Mobile money profitability: A digital ecosystem to drive healthy margins”. GSMA. 13 GSMA Mobile Money, GSMA Intelligence. 2017 STATE OF THE INDUSTRY REPORT ON MOBILE MONEY THE METHODOLOGY: LEVERS TO SCALE15 Registered accounts
25、 Transaction volume Value USD 31.5bn1.8bn247m690m2017 26bn1.5bn191m553.7m Year-on-year growth, % 24.629.324.821.3 1.9bn29.5m7.2m36.5m2017 1.8bn28m5.5m33.3m Year-on-year growth, % 9.329.75.16.5 0.8bn66.1m11.5m21.5m2017 0.8bn59.3m10.1m19.7m Year-on-year growth, % 9.314.311.3 6.4 8.4bn518.1m86.3m234.8m
26、2017 5.7bn347.8m55.5m159.9m Year-on-year growth, % 46.955.74948.9 0.4bn38.1m18.3m47.2m2017 0.3bn31.8mn15.3mn44.7mn Year-on-year growth, % 5.719.821.520 Number of deployments 18 40 34 41 276* Active 90- day accounts As of December 2016 2016 2016 2016 2016 REGIONAL GROWTH IN 2017 GLOBAL EAST ASIA AND
27、PACIFIC LATIN AMERICA AND THE CARIBBEAN SOUTH ASIA MIDDLE EAST AND NORTH AFRICA * Europe and Central Asia is not reflected. These regions counted 11.5M; 1.7M; 4.4M and $66.7M for the respective metrics as of December 2017. 16 REGIONAL GROWTH IN 2017 Registered accounts Number of deployments Transact
28、ion volume Value USD 19.9bn1.2bn121.9m338.4m 17.4bn981.3m103.1m285.9m Year-on-year growth, % 18.418.217.914.4 13.2bn870.8m73.2m191.0m 11.9bn773.9m65.6m168.2m Year-on-year growth, % 13.611.612.510.5 Year-on-year growth, % 742.1m33.5m5.9m23.6m 1.3bn63.2m9.8m32.9m 64.172.688.339.8 123.4m10.5m2.7m10.0m
29、104.7m8.7m2.2m7.7m Year-on-year growth, % 29.420.120.917.9 5.3bn211.9m36.2m104.5m 4.6bn165.2m29.4m86.4m Year-on-year growth, % 20.923.528.315.2 16 135 51 11 57 Active 90- day accounts As of December 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 SUB-SAHARAN AFRICA SNAPSHOT WHOLE REGION EASTERN AF
30、RICA CENTRAL AFRICA SOUTHERN AFRICA WESTERN AFRICA SUB-SAHARAN AFRICA SNAPSHOT17 LEVER 1 INCREASING CUSTOMER ACTIVITY RATES Account activity remains a challenge, but the industry average can mislead. A growing number of providers are enjoying activity rates above 50 per cent. Jun 14Dec 13Jun 13Dec 1
31、2Jun 16Dec 15Jun 15Dec 14Dec 17Jun 17Dec 16 Active (90-day) accounts Activity rateRegistered accounts 26%32%34%33%34%36% 0 100 200 300 400 500 600 700 million FIGURE 4 GROWTH OF REGISTERED AND ACTIVE MOBILE MONEY ACCOUNTS 2017 STATE OF THE INDUSTRY REPORT ON MOBILE MONEY Our analysis shows that depl
32、oyments with the highest activity rates have significantly higher than average ARPU.14 Globally, activity rates have flattened over the last three years (see Figure 4) with three out of 10 mobile money customers transacting in the last 90 days. Have customer activity rates plateaued? Is 35 per cent
33、activity the best a mobile money provider can expect? A closer look at the data reveals a more nuanced story: there is significant variation among providers, and a growing number of mobile money services are achieving activity rates of well over 60 per cent (see Figure 4). Twenty per cent of provide
34、rs saw more than half of their customer base transacting regularly in 2017. Interestingly, several mobile money providers have managed to reach customer activity levels comparable to banks in developed countries and to digital wallets in China,15 suggesting that mobile money can fully serve the need
35、s of previously unbanked or underserved customers in developing economies. While most providers saw their activity rates move in the right direction, there was a small drop in the percentage of deployments in the 70+ per cent activity range. One reason for this is that only providers operational in
36、both 2012 and 2017 have been considered for our analysis. In absolute terms, the number of providers enjoying account activity rates above 70 per cent has actually increased, thanks to the success of several providers that launched after 2012. 18 LEVER 1: INCREASING CUSTOMER ACTIVITY RATES 2017 2012
37、 % range Above average activity levels Retail banks and Chinese mobile wallets (Alipay growth that was accelerated by the introduction of the E-Money Issuers Guidelines by the Bank of Ghana in July 2015. From the end of June 2012 to the end of June 2017, registered accounts increased five-fold from
38、two million to 10 million accounts. Active 90-day19 accounts increased 11-fold as a result of activity rates growing from seven per cent to over 70 per cent. Behind this growth was an understanding that an increase in registered customers does not necessarily translate into more customer activity. W
39、ith this in mind, MTN Ghana used five key strategies while maintaining high registration levels: Education An early and continued focus on ensuring every customer was shown how to conduct a transaction when registering and then conducted one on their own in the presence of an agent. Customer and age
40、nt incentives Customers were monitored and incentivised to continue transacting via mobile money with frequent public holiday promotions (e.g. over Independence Day). For agents, incentives tied to customer activity enticed them to encourage customer transactions. For example, agents received remune
41、ration for the second and third transaction a new customer made within their first month of registering. Increased engagement Door-to-door information sharing and use of community activators who spread awareness of the potential benefits of mobile money. Immediate mobile money registration When a cu
42、stomer registers as an MTN Ghana customer, they are instantaneously registered as an MTN Ghana mobile money customer. Increased investment For example, proactive investment in agent visibility, training and increasing the number of agents in the field. Building partnerships with banks, merchants (e.
43、g. satellite TV and utility providers), small and medium-sized enterprises (SMEs) and microfinance institutions (MFIs) was also critical to MTN Ghanas success, and would not have been possible without CEO and senior-level buy-in and support. Additionally, customers are responding to the opportunity
44、to earn interest by keeping more funds in their mobile money accounts and performing more digital transactions. 2017 STATE OF THE INDUSTRY REPORT ON MOBILE MONEY DRIVING GROWTH IN WESTERN AFRICA MTN GHANA LEVER 1: INCREASING CUSTOMER ACTIVITY RATES21 In 2015, four years after its initial launch, Dig
45、icel Haiti relaunched and rebranded its mobile money service, changing the name from TchoTcho to MonCash. By focusing on P2P as a core product, offering targeted customer education, promoting agents as partners, and building stronger mobile money teams, Digicel has seen tremendous growth. Between Ju
46、ly 2015 and July 2017, the service grew significantly: The active 90-day mobile money account base rose from 83,000 to 795,000, an increase of 860 per cent. Agent activity rate rose from 29 per cent, and 93 per cent. The value of mobile money transactions increased by 950 per cent and volumes increa
47、sed by over 2,000 per cent. The Digicel Haiti MonCash turnaround story shows that mobile money can succeed in Latin America and the Caribbean, when a targeted and coordinated approach to fundamentals is applied.20 2017 STATE OF THE INDUSTRY REPORT ON MOBILE MONEY DIGICEL HAITI MONCASH A TURNAROUND S
48、TORY 19 The number of customer accounts that have been used to perform at least one P2P payment, bill payment, bulk payment, cash-in to account or cash-out from account within 90 days. 20 Novais, T. (2017). “Digicel Haiti MonCash: A turnaround story”. GSMA. Use cases such as bulk disbursements, bill
49、 payments and bank-to-mobile transactions have driven this change. In the month of December 2017, $12.6 billion entered the global mobile money ecosystem, 75.4 per cent of which was through agent cash-ins. This marked a drop from approximately 88 per cent in 2012 (see Figure 6), as higher numbers of bank-to-mobile transactions and bulk disbursements have played an especially important role in reducing the proportion of cash-ins. It has also improved provider revenue, as the fees agents receive for cashing in a