Pakistan Surges Ahead of India in Mobile Money Revolution

[RiazHaq]

Its proved once again that Pakistanis are superior than Indians. Good news.

"superior to", not "superior than"

 

[Contrarian]

Good for Pakistan.

 

[Chanakya's_Chant]

Good for Pakistan.

Exactly it is good and I appreciate it but I fail to understand why the hell India is being dragged into all this!

Add it all up in US$...it adds up to $3.2 billion in India, lower than $3.5 billion in Pakistan and 4 billion in Bangladesh.

Also read the following:

http://www.nytimes.com/2013/12/05/b...nts-gain-traction-among-indias-poor.html?_r=0

A soft revolution of mobile money in Pakistan: A pathway to financial inclusion - Asian International Economists Network

Mobile payments (Easy Paisa) started in Pakistan in 2009 and in India in 2011 (M-Pesa). Pakistan started it 2 years before India.

With a whopping 67.27% growth rate in number of transactions and 115.00% growth rate in amount of transaction Indian transactions will be around $ 06.88 Billion this year! What is the growth rate of Pakistan in this concern? I wonder in the next FY Pakistani transactions would be even half of Indian ones

Apart from it we don't have to depend upon foreign mobile payment service providers for the same - M-Pesa may be a vodafone venture but Airtel Money (last year achieved a growth of monthly active subscribers of nearly 55 percent year-on-year.) and MoneyonMobile are Indian firms leaving the new players such as Beam Money, CanvasM, Ezetap, PayMate, Y-Cash and Zaakpay.

 

[khujliwal]

Add it all up in US$...it adds up to less than $3.2 billion in India, lower than $3.5 billion in Pakistan and 4 billion in Bangladesh.

"Lower" is the comparative of "low," so it should only be applied to things that could be described as low. Do you understand? normally I don't care about English usage as long as I can understand the content and context, but since you seem to be very particular about it, felt like letting you know.

 

[RiazHaq]

Exactly it is good and I appreciate it but I fail to understand why the hell India is being dragged into all this!



Mobile payments (Easy Paisa) started in Pakistan in 2009 and in India in 2011 (M-Pesa). Pakistan started it 2 years before India.

With a whopping 67.27% growth rate in number of transactions and 115.00% growth rate in amount of transaction Indian transactions will be around $ 06.88 Billion this year! What is the growth rate of Pakistan in this concern? I wonder in the next FY Pakistani transactions would be even half of Indian ones

Apart from it we don't have to depend upon foreign mobile payment service providers for the same - M-Pesa may be a vodafone venture but Airtel Money (last year achieved a growth of monthly active subscribers of nearly 55 percent year-on-year.) and MoneyonMobile are Indian firms leaving the new players such as Beam Money, CanvasM, Ezetap, PayMate, Y-Cash and Zaakpay.

The real issue for M-Pesa and similar vendors in India is regulation, not demand.

Also, EasyPaisa is far more indigenous to Pakistan than M-Pesa to India.

EasyPisa started in Pakistan; M-Pesa started in Africa and then came to India.

EasyPaisa money volume in Pakistan has already exceeded $6.2 billion. It's actual, not a forecast.

 

[Mr.S.Singh]

This is a highly optimistic forecast for India made in 2011 which has so far been proved wrong....it's like many other highly optimistic forecasts for India that have not materialized as its economy has slowed considerably.

BTW, here's what I forecasted for India back in 2011:

Haq's Musings: Indian Economy Slowing to "Hindu Rate of Growth"?

i am a bit confused, what does domestic transaction have to do with FDI ?
FDI would create investments, more business etc, but present population would do their business or necessary transaction
If not mobile, it would be e-banking or debit/credit transaction
Transactions via cheque remain the most popular mode of money exchange after hard cash in India
Most transactions still done through cash, cheques | Business Line
For aam India, cash is still king | Business Line

Even with an economic downturn India's banking system have moved leap and bound, by 2020 India banks would raise 58% of funds required for countries transaction

 

[RiazHaq]

"Lower" is the comparative of "low," so it should only be applied to things that could be described as low. Do you understand? normally I don't care about English usage as long as I can understand the content and context, but since you seem to be very particular about it, felt like letting you know.

You must be arithmetic challenged if you don't think $3.5 billion in Pakistan is far higher in terms of per capita than $3.2 billion in India whose population is 7X Pakistan's.

 

[Mr.S.Singh]

Add it all up in US$...it adds up to less than $3.2 billion in India, lower than $3.5 billion in Pakistan and 4 billion in Bangladesh.

Also read the following:

http://www.nytimes.com/2013/12/05/b...nts-gain-traction-among-indias-poor.html?_r=0

A soft revolution of mobile money in Pakistan: A pathway to financial inclusion - Asian International Economists Network

India will not turn to mobile soon, most of transaction by ordinary Indians are for purchase, which Indian's still prefer to do by vertue of physical purchase.
Govt of India uses banks to remit fund, via e-banking and not Mobile banking
Airtel, a telecommunication operator tried to bring M-wallet called Airtel Money, but response was disappointing
airtel Money Transfer| Mobile Recharge | Bill Payment Through Mobile| mcommerce

E-banking still makes a big part of Indian transaction system, but hasn't increased some banks still don't provide E-banking
These are small Co-operative banks, they might be a bit last generation but provide 1-2% higher interest rates than normal corporate banks & state banks

The real issue for M-Pesa and similar vendors in India is regulation, not demand.

Also, EasyPaisa is far more indigenous to Pakistan than M-Pesa to India.

EasyPisa started in Pakistan; M-Pesa started in Africa and then came to India.

EasyPaisa money volume in Pakistan has already exceeded $6.2 billion. It's actual, not a forecast.

He emphasized on your point of growth rate to transaction sir, which is unanswered

 

[danger007]

Add it all up in US$...it adds up to less than $3.2 billion in India, lower than $3.5 billion in Pakistan and 4 billion in Bangladesh.

Also read the following:

http://www.nytimes.com/2013/12/05/b...nts-gain-traction-among-indias-poor.html?_r=0

A soft revolution of mobile money in Pakistan: A pathway to financial inclusion - Asian International Economists Network

haq is back. . I'm so happy to see haq shining world of pakistan. ..

 

[khujliwal]

You must be arithmetic challenged if you don't think $3.5 billion in Pakistan is far higher in terms of per capita than $3.2 billion in India whose population is 7X Pakistan's.

Wouldn't go to the levels to call you challenged, you missed the context. In post no. 16 you pointed out "than" vs "to" to @Gautam, I brought to your notice, a fault in your English. Not that I care of it, just that it's too easy to find faults. So we shouldn't preach what we may not always practice.

 

[Chanakya's_Chant]

The real issue for M-Pesa and similar vendors in India is regulation, not demand.

Also, EasyPaisa is far more indigenous to Pakistan than M-Pesa to India.

EasyPisa started in Pakistan; M-Pesa started in Africa and then came to India.

EasyPaisa money volume in Pakistan has already exceeded $6.2 billion. It's actual, not a forecast.

And it will be - RBI regulates such practices and it has its own set of reasons to regulate it to a limited extent only but we still post a whopping 67.27% growth rate in number of transactions and 115.00% growth rate in amount of transaction on a year on year basis! I don;t know what's the growth rate of Pakistan but I am damn sure it won't be as high as 115.00%! -

With total payments approaching $9 trillion, India’s payments industry had revenues of nearly $14 billion in FY13 - Do Bangladesh and Pakistan even stand close to this $9 trillion mark? We started in 2011 - posted a annual transaction mark of $3.2 billion in FY13 - continue to grow at a whopping 115.00% in this concern and already have payments approaching $9 trillion - an emerging payment market - we will be very well able to sideline both BD and PAK this FY! McKinsey says it all!

http://www.mckinsey.com/client_serv...~/media/57387926B33841B5B0F2A0D8A1429368.ashx