Digital Remittance Market Forecast Showing 24.0% CAGR to 2025: Western Union (WU), Ria Financial Services, PayPal/Xoom, TransferWise, WorldRemit, MoneyGram
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.
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Companies Profiled in this report includes: 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
Digital Remittance is an online service that lets people send money to friends and family living abroad, using a computer, smartphone or tablet.
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.
In 2017, the global Digital Remittance market size was 1540 million US$ and it is expected to reach 8590 million US$ by the end of 2025, with a CAGR of 24.0% during 2018-2025.
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The study objectives of this report are:
To analyze global Digital Remittance status, future forecast, growth opportunity, key market and key players.
To present the Digital Remittance development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
Table of Content:
1 Report Overview
2 Global Growth Trends
3 Market Share by Key Players
4 Breakdown Data by Type and Application
5 United States
9 Southeast Asia
11 Central & South America
12 International Players Profiles
12.1 Western Union (WU)
12.1.1 Western Union (WU) Company Details
12.1.2 Company Description and Business Overview
12.1.3 Digital Remittance Introduction
12.1.4 Western Union (WU) Revenue in Digital Remittance Business (2013-2018)
12.1.5 Western Union (WU) Recent Development
12.2 Ria Financial Services
12.2.1 Ria Financial Services Company Details
12.2.2 Company Description and Business Overview
12.2.3 Digital Remittance Introduction
12.2.4 Ria Financial Services Revenue in Digital Remittance Business (2013-2018)
12.2.5 Ria Financial Services Recent Development
12.3.1 PayPal/Xoom Company Details
12.3.2 Company Description and Business Overview
12.3.3 Digital Remittance Introduction
12.3.4 PayPal/Xoom Revenue in Digital Remittance Business (2013-2018)
12.3.5 PayPal/Xoom Recent Development
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Name: Sameer Joshi
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