05 July 2015

Latin America pre-paid market to be worth $160bn a year by 2015 - NovoPayment

09 July 2009  |  5243 views  |  0 iPhone on top of Keyboard

Latin America's pre-paid general-purpose reloadable mobile and utilities card market could be worth nearly US$160 billion a year by 2015, according to a forecast from vendor NovoPayment.

The region's huge unbanked population can benefit from linking pre-paid reloadable cards to mobile and utility services, offering low and middle-income consumers the ability to buy airtime and pay bills via text messaging, Internet, phone or scheduled debit without an underlying bank account, says NovoPayment.

The firm claims the overwhelming majority of mobile customers in Latin America - between 80% and 90% - are already on pre-paid plans, representing a huge business opportunity for service providers.

"Unbanked consumers spend on average 10 hours per month standing in line to pay bills for services simply because they do not have a traditional bank account or credit history," says Anabel Perez, CEO, NovoPayment. "Prepaid general-purpose cards are a value proposition for mobile and utilities service providers and their customers because they create loyalty, improve margins and connect the region's largest consumer group - which make up the base of the pyramid - to a modern payments and services infrastructure."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

09 February, 2009
02 December, 2008
27 November, 2008
05 November, 2008
27 June, 2008
17 June, 2008
07 May, 2008
18 June, 2007
11 May, 2007
23 August, 2006
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Barclays takes on Apple with wearable paym...
9186 views comments | 39 tweets | 35 linkedin
Singapore pledges S$225m to fintech
8762 views comments | 33 tweets | 24 linkedin
US banks pump $16.6bn into digital transfo...
7394 views comments | 38 tweets | 24 linkedin
Greeks flock to Bitcoin
6283 views comments | 31 tweets | 18 linkedin
UK payments regulator calls for 'pipes and...
5784 views comments | 27 tweets | 20 linkedin

Featured job


Find your next job