Brazil Remittance Market by Inbound and Outbound International Remittance, by Mode of Transfer (Electronic and Cash), by Channel (Bank and Non-Bank), by Bill Payment Methods (Cash, Credit/Debit Card/E-Wallet and Electronic Transfers), by Types of Payment (Grocery Bills, Utility Bills, Fuel Bills, DTH and Broadband Bills and Mobile Recharge Bills) and by Regions – Outlook to 2022

Brazil Remittance Market by Inbound and Outbound International Remittance, by Mode of Transfer (Electronic and Cash), by Channel (Bank and Non-Bank), by Bill Payment Methods (Cash, Credit/Debit Card/E-Wallet and Electronic Transfers), by Types of Payment (Grocery Bills, Utility Bills, Fuel Bills, DTH and Broadband Bills and Mobile Recharge Bills) and by Regions – Outlook to 2022


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Executive Summary

The report titled “Brazil Remittance Market by Inbound and Outbound International Remittance, by Mode of Transfer (Electronic and Cash), by Channel (Bank and Non-Bank), by Bill Payment Methods (Cash, Credit/Debit Card/E-Wallet and Electronic Transfers), by Types of Payment (Grocery Bills, Utility Bills, Fuel Bills, DTH and Broadband Bills and Mobile Recharge Bills) and by Regions – Outlook to 2022” provides a comprehensive analysis of the remittance market in Brazil. The report covers various aspects such as overall market size of Brazil remittance market, international remittance market, domestic remittance market and bill payment market; segmentation on the basis of inbound & outbound international remittance, by major flow corridors (United States, Japan, Germany and others), by mode of transfer (electronic and cash), by channel (bank and non-bank), by bill payment methods (cash, credit/debit card/e-wallet and electronic transfers), by types of payment (grocery bills, utility bills, fuel bills, DTH & broadband bills and mobile recharge bills) and by regions. The report also covers snapshot on global remittance market, value chain analysis of Brazil remittance & bill payment market, competitive scenario in the industry, SWOT analysis, trends & developments, issues and challenges, regulatory scenario of Brazil remittance market. The report also covers the competitive landscape of the industry and comprehensive profile of leading players (WorldRemit, Western Union, TransferWise, MoneyGram, RIA Money Transfer, XOOM Corporation, Currency Solutions, Small World) operating in the market.
The report concludes with future outlook and projections of Brazil remittance market, major macroeconomic indicators and upcoming trends affecting the market have also been highlighted in the report. The report also serves competitive scenario for each market which exists in remittance industry to get an in-depth understanding of remittance sector in Brazil.

Market Overview
Brazil Remittance and bill payment industry has witnessed a stellar growth in past few years. Remittance represents an important source of currency for the country and currently comprises of ~% of the Brazil’s GDP. Rising Brazilian immigrants in other countries, better job opportunities, high salary and low employment rate in Brazil has attributed in the increasing market size of the industry. Brazil remittance industry is highly fragmented with presence of large number of domestic as well as international players. The remittance fund is transferred through different payment modes like online payment, account to account, cash/ cheque, money orders and others. In terms of transaction volume, Brazil remittance industry augmented from USD ~ million during 2012 to USD ~ million during 2017 at a CAGR of ~% during 2012-2017. International remittance market has majorly dominated the remittance industry in Brazil. The inflow of remittance fund from other countries to Brazil has contributed largely in the revenues of the market. The US is the major contributor in the remittance fund with the percentage share of ~% in terms of transaction volume in 2017. Rising industrialization, entry of foreign players in the country and improvement in job opportunities has majorly triggered Brazil remittance market during the review period. Major players in Brazil remittance market include WorldRemit, Western Union, TransferWise and others.

Brazil International Remittance Market
International remittance is the transfer of money from a migrant worker to their families or other parties who are living in some other country, which generally is the migrant workers’ home country. During 2017, Brazilians working overseas send over USD ~ million to their families. The growth of the remittance industry in the country has been majorly driven by the large number of Brazilian workers who have changed their residence to countries with higher paying job opportunities. The US has majorly contributed in the transaction volume of remittance in the country. In 2017, the US contributed ~% (USD ~ million) in the transaction volume of remittance in Brazil. The growth of international remittance is aided with the growth of new technology and expansion of new services by money transferring agencies.

Brazil International Remittance Market Segmentation
By Inbound and Outbound Remittance: International Remittance in Brazil is majorly dominated by inflow of remittance from other countries to Brazil. The increasing Brazilian population in other countries in search of better job opportunities and high salary has contributed to the rising size of the remittance industry. Inbound remittance accounted for a share of ~% (USD ~ million) of the overall transaction volume during 2017. Outflow of remittance in the country is less as compared to inflow because of low migration of foreign workers in the country. Outbound remittance has accounted for a share of ~% (USD ~ million) during 2017.
By Channel (Bank and Non-Bank): Non-bank channel in Brazil majorly consists of the money transfer agencies, local merchants and exchange houses. Non-bank channels have accounted for a major chunk of overall transactions, accounting for ~% (USD ~ million) of the total transaction volume during 2017. Bank as a channel is preferred owing to security but huge unbanked population in the country and less penetration of banks in rural areas has resulted in dominance of non-banking channels for remittance in the country. Banks have accounted for a share of ~% (USD ~ million) of the overall transaction volume during 2017.

Brazil Domestic Remittance

Brazil has a disparity in terms of developed and developing cities across the country which has results in massive internal migration of skilled and unskilled labor to the developed cities that offer better wages and standard of living. Urban cities of the country have witnessed huge population growth which has attracted higher investments into the region leading to creation of even more job opportunities. However, since the average salaries being paid in these industrial belts and developed areas is much higher that what can be earned in the underdeveloped areas, the workers support their families by regularly remitting money back home as their income is on the higher side as compared to what their families earn. Money order and telegraph majorly contribute in total transaction of domestic remittance. Telegraph and money order are the traditional, very popular and the safest way for transferring money from one place to another. Banks also account for a major share of overall transaction volume during 2017. Other modes of domestic remittance include e-wallet operators and money transfer operators.

Brazil Bill Payment Market
Large number of businesses has been set up to cater to the needs and demands of the Brazilian population working outside the country. Companies like Xoom, MoneyGram and others offer cheap and easy ways for customers to pay their bills directly rather than initially remitting money to their home and then the residents of their home making the payment. The growth of e-payments in the country supported by growing penetration of internet has made it easy for the users to pay bills online through various operators. The major target segments of the bill payment companies include cash-based and unbanked customers within Brazil. Brazil has made progress in improvement in quality of life of its citizens which has increased consumption of electricity, broadband, mobile recharge and other facilities. Major types of bills include grocery bills, utility bills, fuel bills, DTH & broadband bills and mobile recharge bills.

Future Outlook of Brazil Remittance and Bill Payment Market
It is expected that Brazil remittance and bill payment market in future will grow at a descent growth rate, augmenting to USD ~ million during 2022 rising from USD ~ million during 2018 at a CAGR of ~% during 2018-2022. Brazil is expected to witness rise in job opportunities and better wages in developed regions which will attract residents from various cities to move to urban areas for work. It is believed that companies and banks will expand their network in coming future in order to be easily accessible to the customers. It is anticipated that international remittance in the country will increase at a good pace with the economic growth and development of Brazil. The rising Brazilian immigrants in foreign countries will result in increase in number of transactions from other countries to Brazil. Additionally, with the growth of immigrants worldwide, increasing use of technology and growing internet penetration will drive the remittance market in upcoming years.

Key Topics Covered in the Report
Money Transfer in Brazil
Brazil Remittance Market
Value Chain Analysis Brazil Remittance Market
Brazil Remittance Market Size
Brazil International Money Transfer Transactions
Major Players in Brazil Remittance Market
Money Transfer Companies in Brazil
Remittance Companies in Brazil
Major Money Transfer Operators Brazil
Unbanked Population Brazil
Non-Banking Operators Brazil
Competition in Brazil Remittance Market
Brazil International Money Transfer
Brazil Domestic Remittance Market
Brazil Bill Payment Services Market
E-wallets Market Brazil
Growth of Brazil Remittance Market
Market Share Leading Companies Brazil Remittance Market
Future of Brazil Remittance Market
Upcoming Trends in Brazil Remittance Market
International Immigrants Brazil
Inbound and Outbound Remittance Brazil
Western Union Remittance Transactions Brazil
MoneyGram Competitors Brazil
TransferWise Transaction Volume
Internet User Population Brazil
Number of Brazilian Immigrants Worldwide

 

 



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1. Executive Summary
2. Research Methodology
3. Snapshot on Global Remittance Market
4. Brazil Remittance and Bill Payment Market – Overview and Genesis
4.1. Overview of Brazil Bill Payment Market
4.2. International and Domestic Remittance in Brazil
5. Value Chain Analysis of Brazil Remittance and Bill Payment Market International Remittance Market
Domestic Remittance Market
5.1. Business Model for MTOs in Brazil Remittance and Bill Payment Market*
6. Brazil International Remittance Market Introduction
6.1. Brazil International Remittance Market Size by Transaction Volume, 2012-2017
6.2. Brazil International Remittance Market Segmentation
6.2.1. By Inbound and Outbound International Remittances, 2017
6.2.2. By Major Flow Corridors (United States, Japan, Germany and Others), 2017*
6.2.3. By Mode of Transfer (Electronic and Cash), 2017
6.2.4. By Channel (Bank and Non-Bank), 2017
6.3. Snapshot on Outbound and Inbound International Remittance in Brazil
6.4. Competition Scenario in Brazil International Remittance Market
6.5. Market Share of Major MTOs in Brazil International Remittance Market by Transaction Volume, 2017
6.6. Future Outlook & Projections of Brazil International Remittance Market by Transaction Volume, 2018-2022
6.6.1. By Inbound and Outbound International Remittances, 2022
6.6.2. By Channel, 2022
7. Brazil Domestic Remittance Market
7.1. Brazil Domestic Remittance Market Size, 2012-2017
7.2. Brazil Domestic Remittance Market Segmentation
7.2.1. By Region, 2017
7.2.2. By Major Remittance Channel (Bank, Telegraph/Money Order, Mobile Money/ E wallet Operators and Money Transfer Operators), 2017
7.3. Competition Scenario in Brazil Domestic Remittance Market
7.4. Market Share of Major Banks and MTOs in Brazil Domestic Remittance Market
7.5. Future Outlook & Projections of Brazil Domestic Remittance Market, 2018-2022
7.5.1. By Major Remittance Channels, 2022
8. Brazil Bill Payment Market Introduction
8.1. Brazil Bill Payment Market Size, 2012-2017
8.2. Brazil Bill Payment Market Segmentation
8.2.1. By Types of Payment (Grocery Bills, Utility Bills, Fuel Bills, DTH & Broadband Bills and Mobile Recharge Bills), 2017
8.2.2. By Bill Payment Methods (Cash, Credit/Debit Card/E-Wallet and Electronic Transfers), 2017
8.2.3. By Offline and Online Bill Payment, 2017
8.3. Competitive Landscape of Brazil Bill Payment Market
8.4. Market Share of Major Players in Brazil Bill Payment Market
8.5. Future Outlook & Projections of Brazil Bill Payment Market, 2018-2022
8.5.1. By Offline and Online Bill Payment, 2022
9. SWOT Analysis of Brazil Remittance and Bill Payment Market
10. BCG Matrix Analysis for Major Players in Brazil Remittance and Bill Payment Market*
11. Trends and Developments in Brazil Remittance and Bill Payment Market
12. Issues and Challenges in Brazil Remittance and Bill Payment Market
13. Government Regulations in Brazil Remittance and Bill Payment Market
14. Company Profile of Major Players in Brazil Remittance and Bill Payment Market
14.1. WorldRemit
14.2. Western Union
14.3. TransferWise
14.4. MoneyGram
14.5. RIA Money Transfer
14.6. XOOM Corporation
14.7. Currency Solutions
14.8. Small World
15. Analyst Recommendations
15.1. Major Upcoming Trends and Future Developments in Brazil Remittance and Bill Payment Market
16. Macroeconomic Factors in Brazil Remittance and Bill Payments Market
16.1. Number of Immigrants in Brazil, 2012-2022
16.2. Total Number of Households in Brazil, 2012-2022
16.3. Number of Brazilian Immigrants Worldwide, 2012-2022
16.4. Internet User Population in Brazil, 2012-2022

*Some of the qualitative or quantitative information provided would highly depend upon the computerized assisted telephonic conversations (CATIs) with industry experts. On the basis of the discussion, the section could be edited or deleted as per the information availability. All limitations and approach used will be clearly mentioned in the report.

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WorldRemit, Western Union, TransferWise, MoneyGram, RIA Money Transfer, XOOM Corporation, Currency Solutions, Small World

Inbound Remittance, Outbound Remittance, International Remittance, Bill Payment, Money Transfer Agent, Remittance Channel, Cash Money Transfer, Electronic Transfer, Post Office Money Transfer, Domestic Remittance, Money Transfer via MTO, Personal Remittance, P2P Money Transfer, Third Party Bill Payment, Billers Desk

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