Social media payments and biometric authentication continue to reshape mobile money transfers, security and processing, according to new reports from the Hampshire, United Kingdom-based Juniper Research and Denver-based Acuity Market Intelligence.

Juniper Research revealed that mobile money transfers grew by nearly 150% in 2015 to more than 13 billion transfers, and some social media firms are experiencing significant service usage increases.

The new report, "Mobile Money Transfer & Remittances: Domestic & International Markets 2015-2020," observed that U.S. social payment service Venmo has experienced traffic valued at almost $1 billion per quarter.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).