South Africa Domestic and International Remittance Market Future Outlook to 2023: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The report titled “South Africa Domestic and International Remittance Market Outlook to 2023 – By Channels Used (Banking Channels, Retailers, ADLAs & MTOs and Others), Remittance Corridors (Inbound-Outbound and Rural-Urban)” provides a comprehensive analysis of South Africa’s Remittance Market including market evolution, overview, genesis, market size and market segmentation. Extensive focus has been placed in quantifying the transaction value and volume over the period, 2013-2023. The report covers aspects such as market segmentation (by channels used, by corridors and by income level) and an extensive snapshot on the bill payment market in South Africa. The report has covered the international and domestic space exclusively focusing on over the year’s computation & interpretation of change in volume, value and average ticket size of transactions in the country. Income earned & change in commission charged has been scrutinized well followed by explicit analyst explanations. Competitive landscape of major players including ABSA Bank, Capitec Bank, Bidvest Bank, Standard Bank, Western Union, MoneyGram, Hello Paisa, Mama Money, Mukuru, Shoprite, SPAR, PEP Stores and Pick n Pay have been covered including company overview, major business strategies, USP, distribution network, remittance services offered, financials and various other parameters. The report also covers future industry analysis (by value, volume and average transaction size), future market segmentation, SWOT analysis, growth opportunities, upcoming trends & analyst recommendations. Interested to Know More about this Report- Request for a sample report The report is useful for existing remittance companies, potential entrants, investors and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future. Market Overview (Current and Future): South Africa domestic and international remittance market are highly concentrated and in the growth stage. The market includes both formal and informal payment service providers including banks, money transfer operators, ADLAs, retailers and mobile wallets. Prominent business strategies adopted by major players to position themselves in the market include forming an extensive network & improved reach, new services launched & service innovation and better pricing & handy/transparent operations offered. The market has been fuelled by increased migration, rising government support for new competitors, declining fee charges and increased awareness towards digitalized remittance services. South Africa International Remittance Market Market Size: South Africa international remittance market recorded a CAGR of close to -1% in terms of average transaction size and close to -2% in terms of volume & value of transaction during 2013-2018. The market showcased a slow & negative growth owing to low purchasing power & high cost associated with remitting money in both inbound & outbound space. Outbound remittance has captured close to half of the market size by value in 2018 declining consistently since 2013. By Channel: International remittance market was led by banks and MTOs & ADLAs showcasing a robust CAGR close to 3% and 8% respectively during 2013-2018. ADLAs penetrated the market in 2015 and have been rising ever since. Retailers experienced a CAGR close to -1% in terms of value while the other players including post offices and hawalas experienced a double digit negative CAGR during 2013-2018 losing their share to other more organized players. By Corridors: Inbound remittance flow corridors are dominated by United Kingdom followed by New Zealand, Australia and Angola respectively. Other countries namely, Canada, United States and Botswana witnessed exhibiting small share close to 15%. Owing to its proximity and availability of numerous job opportunities, United Kingdom has been the market leader magnetized by majority of emigrants. Outbound flow corridors, on the other hand, are dominated by Zimbabwe followed by Lesotho and Mozambique respectively. The outbound corridors consist of the SADC countries bordering South Africa wherein foreigners tend to move to a more established country with more stable Economy. Competition Stage and Positioning: The international market is concentrated with majority of the market being captured by MTOs & ADLAs in 2018. There are 4 major banks namely ABSA Bank, Capitec Bank, Standard Bank and Bidvest Bank which have been active in the space. 2 major MTOs include Western Union and MoneyGram while major 4 ADLAs include Hello Paisa, Mama Money, Mukuru and Exchange4Free. Major 4 retailers include Shoprite, PEP Stores, Pick n Pay and SPAR. Major competing parameters include fees charged, time taken for the transaction, services offered, reach of the service providers, trust value attached, technological advancements, promotional offers and transparency in costs. The market has become highly competitive in terms of the fee charged after the penetration of the ADLAs offering low fees to the customer’s thereby increasing competition. Future Projections: The market is expected to showcase a CAGR close to 6% and -4% by value and volume of transactions during 2018-2023. In terms of average transaction size the market is expected to register a CAGR close to 3% during the same. South Africa Domestic Remittance Market Market Size: South Africa domestic remittance market recorded a CAGR of close to 3% in terms of average transaction size and close to 6% & 3% in terms of transaction value and volume during 2013-2018 respectively. The market showcased a positive growth with the entry of ADLAs & with the rise in government initiatives to push the market forward. Players witnessed rising profits owing to increase in the commission charged year-on-year averaging a CAGR of close to 15% during the review period. This thus, accelerated the income earned by the players at a CAGR of more than 20% during the review period. By Channel: Domestic remittance market was led by banks with highest market share showcasing a CAGR close to 1% during 2013-2018. Retailers followed by Mobile wallet companies acquired the second and third highest share in the base year. MTOs witnessed strong growth during 2013-2018 by value of transactions. Other players including post offices and hawalas experienced a decline in popularity with the coming up of other organized gateways. By Corridors: Highest amount of money has been remitted between urban to rural in 2018. This has been followed by Urban to urban channel with Rural to Urban having a minor share. Competition Stage and Positioning: The domestic market is highly concentrated with majority share being captured by Capitec Bank, First National Bank, ABSA Bank, Bidvest and Mukuru in 2018 in terms of value of transactions. The market is expected to showcase a CAGR close to 12% and -7% by value and volume of transactions during 2018-2023. Key Segments Covered in South Africa International Remittance Market By Channels used (Value of Transactions) Banking channels, ADLAs & MTOs Retailers Others By International Inbound Remittance Flow Corridor (Value of Transactions) United Kingdom New Zealand Australia Angola Others By International Outbound Remittance Flow Corridor (Value of Transactions) Zimbabwe Lesotho Mozambique: Others By Work Profile (Value of Transactions) Key Segments Covered in South Africa Domestic Remittance Market By Channels used (Value of Transactions) Banking channels, ADLAs & MTOs Retailers Others By Domestic Remittance Flow Corridor (Value of Transactions) Urban to Rural Urban to Urban Rural to Urban By Work Profile (Value of Transactions) Key Target Audience Banks Money Transfer Operators ADLAs M-Wallet Companies Hawalas Convenience and Retail Stores Supermarket Chains South Africa Reserve Bank Bills and Payments Companies Investors & Venture Capital Firms Visit this Link :- Request for custom report Time Period Captured in the Report: 2013-2018 – Historical Period 2019-2023 – Future Forecast Companies Covered: ABSA Bank Limited, Albaraka Bank Limited, Bidvest Bank Limited, BNP Paribas SA – South Africa Branch, Capitec Bank Limited, China Construction Bank-Johannesburg Branch, Citibank-South Africa, Deutsche Bank AG-Johannesburg Branch, FirstRand Bank Limited, Habib Overseas Bank Limited, HBZ Bank Limited, HSBC Bank PLC–Johannesburg Branch, Investec Bank Limited, JPMorgan Chase Bank-Johannesburg Branch, Mercantile Bank Limited, Nedbank Limited, Sasfin Bank Limited, Société Générale, Standard Chartered Bank–Johannesburg Branch, State Bank of India, The South African Bank of Athens Limited, The Standard Bank of South Africa Limited, First National Bank, Bank of Baroda, Bank of India, Bank of China, Bank of Taiwan, Western Union , Money Gram, Hello Paisa, Mama Money, Mukuru, Exchange4Free, Imali Express (Pty), Ace Currency Exchange (Pty), Forex World (Pty) Limited, Global Foreign Exchange (Pty) Limited, Inter Africa Bureau de Change (Pty) Limited, Interchange RSA (Pty) Limited, Master Currency (Pty) Limited, Sikhona Forex (Pty) Limited, Tourvest Financial Services (Pty) Limited, American Express Foreign Exchange Services, Tower Bureau de Change (Pty) Limited, Travelex Africa Foreign Exchange (Pty) Limited, Southeast Exchange Company (South Africa), Terra Payment Services South Africa (RF) (Pty), WorldRemit South Africa (Pty) Limited, Shoprite, Pep Stores, Pick n Pay, Checkers, Spar, Ackermans and Boxers. To Know More About this report follow this link South Africa Domestic and International Remittance Market Outlook to 2023 – By Channels Used (Banking Channels, Retailers, ADLAs & MTOs and Others), Remittance Corridors (Inbound-Outbound and Rural-Urban) Related Reports Egypt Remittance Market Outlook to 2023 – By Inbound and Outbound Remittance, By Transfer Mode (Bank Transfer, Through Friends or Relatives, Through Agent or Courier, Carried Money on Their Visits, and Others), By Banking and Non-Banking Transfer, By Bill Payment Type (Mobile Services, Internet Services, Utilities, and Others), By Bill Payment Mode (Cash Payments, Card Payments, and Fund Transfers) Kuwait 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 Philippines Money Transfer And Bill Payments Market Outlook To 2023 – By Domestic Remittance Banking And Non Banking (Pawnshops, MTO) Channels, International Remittance Flow Corridors And Channel; Bill Payment Segment Nigeria Remittance And Bill Payments Market Outlook By Inbound And Outbound International Remittance, By Mode Of Transfer (Cash Or Electronic Transfers), By Channel (Bank And Non-Bank) – Outlook To 2022 Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications Sales@kenresearch.com +91-9015378249 Tags: ABSA Bank Remittance South Africa, ABSA Bank South Africa, ABSA Bank South Africa Remittance Market, Angola-South Africa Remittance Market, Australia-South Africa Remittance Market, Average Transaction Size Domestic Remittance Market South Africa, Average Transaction Size Inbound Remittance South Africa, Average Transaction Size International Remittance South Africa, Average Transaction Size Outbound Remittance South Africa, Best Company Domestic Remittance South Africa, Best Company International Remittance South Africa, Best Company Remittance South Africa, Bidvest Bank Remittance South Africa, Bidvest Bank South Africa, Bidvest Bank South Africa Remittance Market, Bill Payment Market South Africa, Capitec Bank Remittance South Africa, Capitec Bank South Africa, Capitec Bank South Africa Remittance Market, Challenges South Africa Remittance market South Africa, Competition Analysis Domestic Remittance South Africa, Competition Analysis International Remittance South Africa, Competition Analysis Remittance South Africa, Customer Pain Points Remittance Market South Africa, Domestic Remittance Market South Africa, Exchange4Free Remittance South Africa, Exchange4Free South Africa, Exchange4Free South Africa Remittance Market, Flow Corridors Remittance South Africa, Government Licenses for ADLAs South Africa, Government Licenses for MTOs South Africa, Government Licenses for Remittance Services Providers South Africa, Government Licenses for Retailers South Africa, Government Remittance Licenses for Banks South Africa, Hawala South Africa Remittance, Hello Paisa Remittance South Africa, Hello Paisa South Africa, Hello Paisa South Africa Remittance Market, Inbound Remittance Transaction Value South Africa, Inbound Remittance Transaction Volume South Africa, International Remittance Market South Africa, Key Remittance Operators South Africa Remittance Market, Lesotho-South Africa Remittance Market, Local Players South Africa Remittance, Major Players South Africa Domestic Remittance, Major Players South Africa International Remittance, Major Players South Africa Remittance, Major Players South Africa Remittance Market, Major Trends South Africa Remittance Market, Mama Money Remittance South Africa, Mama Money South Africa, Mama Money South Africa Remittance Market, Money Transfer Operations South Africa, Money Transfer Operators South Africa, MoneyGram Remittance South Africa, MoneyGram South Africa, MoneyGram South Africa Remittance Market, Mozambique-South Africa Remittance Market, Mukuru Remittance South Africa, Mukuru South Africa, Mukuru South Africa Remittance Market, New Zealand-South Africa Remittance Market, Operating Regulations Remittance Market South Africa, Outbound Remittance Transaction Value South Africa, Outbound Remittance Transaction Volume South Africa, PEP Stores Remittance South Africa, PEP Stores South Africa, PEP Stores South Africa Remittance Market, Pick n Pay Remittance South Africa, Pick n Pay South Africa, Pick n Pay South Africa Remittance Market, Remittance Commission Income South Africa, Remittance Digitalization in South Africa, Remittance Future Market Analysis South Africa, Remittance Income South Africa, Remittance Industry South Africa, Remittance Market Major Companies South Africa, Remittance Market South Africa Future South Africa, Remittance Services Competition, Rural to Urban South Africa Remittance Market, Shoprite Remittance South Africa, Shoprite South Africa, Shoprite South Africa Remittance Market, South Africa Domestic Remittance Market Future Analysis, South Africa International Remittance Market Future Analysis, South Africa Remittance, South Africa Remittance Average Transaction Size, South Africa Remittance Bitcoins, South Africa Remittance Bitcoins Remittance Market, South Africa Remittance Industry, South Africa Remittance Market, South Africa Remittance Market Analysis, South Africa Remittance Market Future Analysis, South Africa Remittance Report, South Africa Remittance Transaction Value, South Africa Remittance Transaction Volume, SPAR Remittance South Africa, SPAR South Africa, SPAR South Africa Remittance Market, Standard Bank Remittance South Africa, Standard Bank South Africa, Standard Bank South Africa Remittance Market, SWOT South Africa Remittance, Target Audience Remittance South Africa, Total Money Transfer South Africa, United Kingdom-South Africa Remittance Market, Urban to Rural South Africa Remittance Market, Urban to Urban South Africa Remittance Market, Western Union Remittance South Africa, Western Union South Africa, Western Union South Africa Remittance Market, Zimbabwe-South Africa Remittance Market
