Telenor targets 10% of revenues from m-commerce

Norweian mobile operator Telenor aims to
achieve 10% of its revenue from Asian mobile financial services,
said Telenor EVP Kristin Skogen Lund at Mobile World Congress.

Telenor owns Easypaisa in Pakistan, a
highly successful mobile-based payments and branchless banking
service. It had launched the service with Tameer Micro Finance
Bank, in which it has a majority stake.

At the Mobile World Congress, Skogen Lund
said that the 10% revenue from m-commerce target was feasible for
the company, saying that made more than 30m transactions last year,
with a total volume worth $ 700m.

Skogen Lund said there is a “phenomenal
opportunity” to bridge the gap of banking services to the unbanked
particularly in Pakistan where around 85 % of the adult population
have no access to basic financial services.

Regarding potential regulatory obstacles in
their targets, she said:

“We know will have to sort this out in
different ways. In some countries, we are not allowed to own a
bank.”
 
Telenor is also focused on a contactless trial in Norway and mobile
wallet joint ventures in Sweden and Denmark.