Key points are not available for this paper at this time.
Mobile payments- payment services conducted via a mobile device-have been a key driver of socioeconomic development in emerging markets. Factors such as advancements in technology, socioeconomic conditions, and the high penetration rate of mobile devices are driving m-payment development in certain emerging markets. As Tom Standage noted in his “Virgin Territory” Economist article (17 Nov. 2011), it's “easier to use your mobile phone to pay for a taxi in Nairobi Kenya's capital than in New York. ” A well-developed m-payment ecosystem has evolved in Kenya that, as of February 2012, had over 18 million m-payment users. In the Asia Pacific, m-payment is expected to grow by 15 percent annually, reaching US3. 8 billion by 2015. 2 Likewise, mobile banking in Africa is expected to reach US22 billion by 2015. 3 Table 1 presents some examples of m-payment systems in the emerging economies of Africa, Asia, and Latin America.
Kshetri et al. (Sun,) studied this question.