The MasterCard Worldwide study MasterCard Mobile Payments Readiness Index (MPRI) has been released today. The survey relies on an analysis of 34 countries and their readiness to use three types of mobile payments: person to person, mobile web commerce and mobile contactless payments at the point of sale.
Globally, Singapore bagged the first spot with a score of 45.6 followed by Canada and US with a score of 42 and 41.5, respectively.
The survey rates India at a score of 31.5 in the MasterCard index. The Indian market is mainly being driven by high scores in the infrastructure component, moderate scores in financial services and consumer readiness, and lower scores in overall environment. With the score of 31.4, India is ranked 21st among 34 countries surveyed.
The country’s performance was driven by good score in the infrastructure component, financial services and consumer readiness, but scored low in overall environment.
“The results of the index for India are encouraging. The mobile payment industry will be largely driven by the young population and India’s demographic dividend offers a great prospect,” MasterCard Worldwide Division President (South Asia) T V Seshadri said.
Kenya ranks top in Africa in readiness to adopt mobile payment. The Kenyan market scored 40.4 on this scale. This is well above the average and a little more than one point behind the US.