Description
Wiseguyreports.Com Adds “Digital Remittance -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2023” To Its Research Database
This report studies the Digital Remittance market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions, and splits the Digital Remittance market by product and Application/end industries.
Digital remittances have the potential to engender positive development outcomes. The pure feebased cost savings that result from digital remittances could have a significant impact on immigrant workers, as well as families back home.
Beyond the pure fee costs, important time, reach, and security benefits accrue from digital remittances. The cost savings from digital remittances could be a meaningful boost to global GDP and have a noteworthy impact on poverty. In order for all of these positive developments to be realized, and enabling environment for digital remittances must be created.
Identity, connectivity, banking, and literacy solutions for all must be developed by the public and private sectors in collaboration. With the current refugee crisis, the time is ripe for digital remittances to provide enhanced economic opportunity for those that need it most.
In 2017, the global Digital Remittance Market Size was valued at 1536 million USD, and it will reach 8590 million USD in 2025, with a CAGR of 23.3% between 2018 and 2025.
According to the data from WorldBank, India is the largest country of Migrant remittance inflows, with 68968 million USD and percentage of 11.2% in the world. China, Philippines, Mexico, France, Nigeria, Pakistan, Germany, Vietnam and Bangladesh, also are top players which receive significant amounts of remittance volume.
Migrant labor workforce is the most important drivers to promote the global development. In future, the blockchain technology will exert far-reaching influence on the remittance market. Most of traditional bank, fintech and other financial firms have researched and tested the blockchain technology used in remittance volume. In the same time, some companies like Ant Financial/Alipay, Coins.ph, Auxesis, Bitspark, Rebit and Cashaa, have introduced their products in remittance.
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Currently, the global Digital Remittance market is dominated by several traditional global money transfer operators (MTOs) like Western Union (WU), Ria Financial Services and MoneyGram. But the fintech like start-ups Xoom, TransferWise, WorldRemit, Remitly and Azimo, have significant impact on the global Digital Remittance market.
The major players in global market include
Western Union (WU)
Ria Financial Services
PayPal/Xoom
TransferWise
WorldRemit
MoneyGram
Remitly
Azimo
TransferGo
InstaReM
TNG Wallet
Coins.ph
Toast
OrbitRemit
Smiles/Digital Wallet Corporation
Avenues India Pvt Ltd
FlyRemit
WeChat Payment
Ant Financial/Alipay
Geographically, this report split global into several key Regions, with, revenue (million USD), market share and growth rate of Digital Remittance for these regions, from 2013 to 2025 (forecast)
United States
Europe
Middle East & Africa
China
India
Southeast Asia
On the basis of product, the Digital Remittance market is primarily split into
Banks Digital Remittance
Digital Money Transfer Operators
On the basis on the end users/Application, this report covers
Migrant Labor Workforce
Study Abroad and Travel
Small Businesses
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Table of Contents
1 Industry Overview 1
1.1 Digital Remittance Market Overview 1
1.1.1 Digital Remittance Product Scope 1
1.1.2 Market Status and Outlook 1
1.2 Global Digital Remittance Market Size and Analysis by Regions (2013-2018) 2
1.2.1 United States Digital Remittance Market Status and Outlook 3
1.2.2 Europe Digital Remittance Market Status and Outlook 4
1.2.3 Middle East & Africa Digital Remittance Market Status and Outlook 5
1.2.4 China Digital Remittance Market Status and Outlook 6
1.2.5 India Digital Remittance Market Status and Outlook 6
1.2.6 Southeast Asia Digital Remittance Market Status and Outlook 7
1.3 Classification of Digital Remittance by Product 8
1.3.1 Global Digital Remittance Revenue (Million USD) and Growth (%) Comparison by Product (2013-2025) 8
1.3.2 Global Digital Remittance Revenue (Million USD) Market Share (%) by Product in 2017 9
1.3.3 Bank Digital Remittance 9
1.3.4 Digital Money Transfer Operators 10
1.4 Digital Remittance Market by End Users/Application 11
1.4.1 Migrant Labor Workforce 12
1.4.2 Study Abroad and Travel 12
1.4.3 Small Businesses 13
….
3 Company (Top Players) Profiles and Key Data 20
3.1 Western Union (WU) 20
3.1.1 Company Profile 20
3.1.2 Main Business/Business Overview 20
3.1.3 Products, Services and Solutions 21
3.1.4 Western Union (WU) Digital Remittance Revenue (Million USD) (2013-2018) 22
3.2 Ria Financial Services 23
3.2.1 Company Profile 23
3.2.2 Main Business/Business Overview 24
3.2.3 Products, Services and Solutions 24
3.2.4 Ria Financial Services Digital Remittance Revenue (Million USD) (2013-2018) 26
3.3 PayPal/Xoom 27
3.3.1 Company Profile 27
3.3.2 Main Business/Business Overview 28
3.3.3 Products, Services and Solutions 28
3.3.4 PayPal/Xoom Digital Remittance Revenue (Million USD) (2013-2018) 29
3.4 TransferWise 31
3.4.1 Company Profile 31
3.4.2 Main Business/Business Overview 31
3.4.3 Products, Services and Solutions 31
3.4.4 TransferWise Digital Remittance Revenue (Million USD) (2013-2018) 34
3.5 WorldRemit 36
3.5.1 Company Profile 36
3.5.2 Main Business/Business Overview 36
3.5.3 Products, Services and Solutions 36
3.5.4 WorldRemit Digital Remittance Revenue (Million USD) (2013-2018) 37
3.6 MoneyGram 39
3.6.1 Company Profile 39
3.6.2 Main Business/Business Overview 39
3.6.3 Products, Services and Solutions 39
3.6.4 MoneyGram Digital Remittance Revenue (Million USD) (2013-2018) 40
3.7 Remitly 42
3.7.1 Company Profile 42
3.7.2 Main Business/Business Overview 42
3.7.3 Products, Services and Solutions 42
3.7.4 Remitly Digital Remittance Revenue (Million USD) (2013-2018) 44
3.8 Azimo 45
3.8.1 Company Profile 45
3.8.2 Main Business/Business Overview 46
3.8.3 Products, Services and Solutions 46
3.8.4 Azimo Digital Remittance Revenue (Million USD) (2013-2018) 46
3.9 TransferGo 48
3.9.1 Company Profile 48
3.9.2 Main Business/Business Overview 48
3.9.3 Products, Services and Solutions 48
3.9.4 TransferGo Digital Remittance Revenue (Million USD) (2013-2018) 51
3.10 InstaReM 52
3.10.1 Company Profile 52
3.10.2 Main Business/Business Overview 53
3.10.3 Products, Services and Solutions 53
3.10.4 InstaReM Digital Remittance Revenue (Million USD) (2013-2018) 55
3.11 TNG Wallet 56
3.11.1 Company Profile 56
3.11.2 Main Business/Business Overview 57
3.11.3 Products, Services and Solutions 57
3.11.4 TNG Wallet Digital Remittance Revenue (Million USD) (2013-2018) 58
3.12 Coins.ph 60
3.12.1 Company Profile 60
3.12.2 Main Business/Business Overview 60
3.12.3 Products, Services and Solutions 60
3.12.4 Coins.ph Digital Remittance Revenue (Million USD) (2013-2018) 61
3.13 Toast 63
3.13.1 Company Profile 63
3.13.2 Main Business/Business Overview 63
3.13.3 Products, Services and Solutions 63
3.13.4 Toast Digital Remittance Revenue (Million USD) (2013-2018) 65
3.14 OrbitRemit 67
3.14.1 Company Profile 67
3.14.2 Main Business/Business Overview 67
3.14.3 Products, Services and Solutions 67
3.14.4 OrbitRemit Digital Remittance Revenue (Million USD) (2013-2018) 68
3.15 Smiles/Digital Wallet Corporation 70
3.15.1 Company Profile 70
3.15.2 Main Business/Business Overview 70
3.15.3 Products, Services and Solutions 71
3.15.4 Smiles/Digital Wallet Corporation Digital Remittance Revenue (Million USD) (2013-2018) 72
3.16 Avenues India Pvt Ltd 74
3.16.1 Company Profile 74
3.16.2 Main Business/Business Overview 74
3.16.3 Products, Services and Solutions 74
3.16.4 Avenues India Pvt Ltd Digital Remittance Revenue (Million USD) (2013-2018) 76
3.17 FlyRemit 77
3.17.1 Company Profile 77
3.17.2 Main Business/Business Overview 78
3.17.3 Products, Services and Solutions 78
3.17.4 FlyRemit Digital Remittance Revenue (Million USD) (2013-2018) 79
3.18 WeChat Payment 80
3.18.1 Company Profile 80
3.18.2 Main Business/Business Overview 81
3.18.3 Products, Services and Solutions 81
3.19 Ant Financial/Alipay 82
3.19.1 Company Profile 82
3.19.2 Main Business/Business Overview 83
3.19.3 Products, Services and Solutions 83
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