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A total of 140mn people in Latin America are forecast to access mobile banking services by 2015, compared to 18mn this year, according to a study by US consultancy Pyramid Research.
"Mobile data services are soaring now in some countries, with penetration of mobile internet close to 16% of the population," said Pyramid senior analyst José Magana. "There is a very large percentage of the population that is younger than 30 - the type of demographic that's more likely to try new services."
As such, mobile operators ought to be open to attract new business models.
"Technology is the enabler, but they might also need to adopt business models and form partnerships," Magana said. "Also, they need to understand that for a mobile payments service, attracting merchants is as important as attracting users; they need to be open to developers and work closely with them to enhance the value of the devices sold through their networks."