26 August 2016
Find out more

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

09 July 2009  |  5516 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)

Finextra news in your inbox

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

Related stories

M-Cube launches mobile pre-paid card system

M-Cube launches mobile pre-paid card system

09 February 2009  |  5247 views  |  0 comments
Visa looks to expand worldwide presence with payments processing JV

Visa looks to expand worldwide presence with payments processing JV

02 December 2008  |  5489 views  |  0 comments
Ukash launches in South Africa

Ukash launches in South Africa

27 November 2008  |  6508 views  |  0 comments
Visa launches Latin America's first NFC m-payments trial

Visa launches Latin America's first NFC m-payments trial

05 November 2008  |  12225 views  |  0 comments
E-commerce booming in Latin America and Caribbean - Visa

E-commerce booming in Latin America and Caribbean - Visa

27 June 2008  |  8570 views  |  0 comments
Unbanked to drive mobile finance - study

Unbanked to drive mobile finance - study

17 June 2008  |  7707 views  |  0 comments
Mobile banking projects launched in Africa and Latin America

Mobile banking projects launched in Africa and Latin America

07 May 2008  |  9884 views  |  0 comments
Pre-paid industry forum established

Pre-paid industry forum established

18 June 2007  |  5246 views  |  0 comments
European market for pre-paid cards set to soar

European market for pre-paid cards set to soar

11 May 2007  |  7448 views  |  0 comments
Remittances rise in Latin America; Swift looks to tap global market

Remittances rise in Latin America; Swift looks to tap global market

23 August 2006  |  9315 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euFind out moreVisit equens.com

Top topics

Most viewed Most shared
hands typing furiouslyBlockchain: what to expect for 2017?
8505 views 0 | 55 tweets | 46 linkedin
hands typing furiouslyBig Data's Three Big Trends in 2016
7156 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
6758 views 10 | 23 tweets | 8 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6216 views comments | 17 tweets | 19 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job