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Remittance

Remittance is the transfer of money by foreign migrants to their homes. Moreover, the significant developments and rising trade working leads the job vacancies around the globe and unlocked the door for the huge population in the developing regions which concludes the remittance market growth around the globe. The existence of jobs and migration has cooperatively stimulated growth of the international remittance market as well as domestic remittance industry. Whereas, the remittance channel considers of sender, intermediaries in both the countries and recipient in both the region, and the bill payment interface utilized by the intermediaries. It is expected that the North America, particularly The United States, will still play an efficient role which cannot be ignored. Any transformation of shifts from United States might affect the development trend of Remittance. Additionally, The UAE was classified as the second largest remittance source for Philippines. Saudi Arabia registered for a prominent share of the remittance to Philippines in 2017 and is one of the principal employers of OFWs.

Although, the market growth can be credited to aspects like significant increase in the number of OFWs, rising infrastructure and developmental activities, growing business segments and increasing job opportunities within the country, upsurge in the BPO sector and other related factors. According to the research, it is states that there are several key players which are recently functioning in this market more effectively for accounting the major share around the globe by proving better platform for transferring the money from one region to another more efficiently and within the less time includes Microsoft Corporation, Amazon.com, Inc., BitGo, NVIDIA Corporation, Advanced Micro Devices Inc., BitFury Group, Intel Corporation, AlphaPoint Corporation, Xilinx Inc., MoneyGram International Inc., Western Union Holdings, Inc., Euronet Worldwide, Inc., The Kroger Co., ABSA, Banco Bradesco SA, U.S. Bank, Scotiabank, SocieteGenerale, UBA and several others. Moreover, the key players of this market are adopting the effective strategies and policies for making significant developments in the technology of transferring money which further provide better consumer satisfaction and eliminate the time of being in a queue. This will also results in leading the fastest market growth during the forecasted period.

Nevertheless, significant increase in the number of migrants has a direct and positive impact on the growth of the remittance industry. The significant growth in the industrial and communication segments have considerably fueling to the market growth with job opportunities in the country. Therefore, in the near future outlook, it is expected that the market of remittance will increase across the globe more significantly over the decades.

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  1. Philippines Remittance and Payments Market Outlook to 2024 - Growth Backed by Sustained Internal Migration, Rise in Overseas Filipino Workers and Surge in BPO Sector.

    248 Pages| May 2019 |
    USD 4500
    The report is useful for industry consultants, remittance service providers (MTOs), banks, local agents, payment platforms, pawnshops and other stakeholders to align their market centric strategies according to ongoing and expected trends in the futu Learn More
  2. Europe International Remittance Market Outlook to 2023 - By Inbound & Outbound Remittance, By Channels (Banks, MTOs, M-wallets and Others), By Inflow & Outflow Remittance Corridors, By Point of Contact (Branch Pick-up, Mobile Payment & Online Transactions, Prepaid Cards)

    127 Pages| April 2019 |
    USD 4500
    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. Learn More
  3. 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)

    170 Pages| April 2019 |
    USD 3500
    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. Learn More
  4. 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

    246 Pages| July 2018 |
    USD 4500
    The report facilitate the readers with an in-depth analysis of the existing and future trends, issues and challenges prevalent in the industry and anticipated growth in the future depending upon changing industry dynamics in coming years. The report Learn More
  5. Cryptocurrencies - Thematic Research

    34 Pages| July 2018 |
    USD 1950
    In fairness, all currencies are a confidence trick. The US dollar, British pound, and the Euro all depend on nothing more than market confidence for their value. Learn More
  6. 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

    176 Pages| December 2017 |
    USD 2000
    The report is useful for money transfer operators, banks, bill payment portals, e-wallets/ mobile money and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future. Learn More
  7. Russia Remittance and Bill Payments Market by Inbound and Outbound International Remittance, By Mode of Transfer (Cash or Electronic Transfers), By Channel (Bank and Non-Bank) - Outlook to 2021

    196 Pages| December 2017 |
    USD 2000
    The increase in the number of expatriates on account of flexible labor laws and an expected fall in the unbanked population as a result of rise in the number of bank branches, remittance market is expected to uplift in the future. Learn More
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