#MobileMoney on the cusp of exploding in #India

Mobile Money

That India is a big market for mobile base business is beyond doubt; this is as the economic powerhouse has over 900 million mobile phones currently. For many, it seems that mobile money has real attractive traction in India. Reported in The National, one of India's largest telecommunications providers Bharti Airtel just recently launched a huge initiative to promote its mobile payment services. The initiative consists of very conspicuous advertising efforts both online and offline.

The reason behind Bharti Airtel's  initiative is the fact that other developing countries have seen success in the implementation of mobile money. For example, in Kenya, Safaricom's M-Pesa for example has seen 6 million users in just 2 years. Furthermore research data indicates that there will be a staggering 100% increase in the number of mobile phones in used by 2015. Thus to take advantage of this untapped market potential, Bharti Airtel, along with other service providers are keen to change the mindset of many Indians who are still reliant on cash to pay for their purchases. With Nokia already making their presence felt in India, mobile money is poised to take off in the Indian market in the coming months.

 

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