Mobile financial services to grow 700% in Latin America

Although still considered incipient in the region, mobile financial services are already used by 18 million subscribers in Latin America, and that number is expected to grow to 140 million in 2015, an increase of 700 percent in four years, according to data released by consultancy Pyramid Research. The data also shows that mobile internet penetration in some countries is close to 60 percent of the population, with a large percentage of people under 30 who are more likely to adopt new services.