Q2 2015 update for Fortumo's Emerging Markets Payment Index

Today we are happy to publish the newest version of our Emerging Markets Payment Index.

Last quarter’s payment data shows a slight decline in average revenue per paying user and transaction sizes in most markets. At the same time, transaction volumes continue to grow in double-digit percentages. In Q2, Brazil remained the market with the highest end-user spend ($17.02 quarterly average revenue per paying user) while payment volumes grew most rapidly in Pakistan (81.35% increase compared to Q1 2015).

The shift in spending is caused by digital content merchants who are increasingly adapting their pricing to local markets. This means the average revenue per user remains lower than in Western markets but is compensated by a significant growth in the amount of people who can make payments. We see a similar trend continuing in the future as the percentage of the population in these markets using carrier billing continues to grow.

The index focuses on markets highlighted by GfK in its global forecast of top smartphone markets for growth by value in 2015: India, Indonesia, South Africa, Brazil, Pakistan, Nigeria, Egypt and Vietnam. These markets have a significantly lower level of access to traditional online payments than mature economies. India and Vietnam for example have a credit card penetration below 2% and in Nigeria 99.3% of all card transactions are conducted on ATMs.

Check out the report below!