Money Remittance Services Market to Witness Excellent Growth | Western Union Holdings, Bank of America, JPMorgan Chase & Co.

What’s Ahead in the Global Money Remittance Services Market? Benchmark yourself with strategic steps and conclusions recently published by AMA. According to survey, Money Remittance Services Market Will Hit Big Revenues in Future with CAGR (Compound Annual Growth Rate) of XX%.

Latest released the research study on Global Money Remittance Services Market, offers a detailed overview of the factors influencing the global business scope. Money Remittance Services Market research report shows the latest market insights with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Money Remittance Services. The study covers emerging player’s data, including: competitive situation, sales, revenue and global market share of top manufacturers. Top players in market are: Western Union Holdings, Inc. (United States), MoneyGram (United States), Bank of America (United States), Wells Fargo & Company (United States), TransferWise (United Kingdom), UAE Exchange (UAE), Ria Money Transfer (Euronet Worldwide) (United States), JPMorgan Chase & Co. (United States), Xoom (PayPal) (United States), Remitly, Inc. (United States).

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Money Remittance Services Overview:
A remittance is a money or a sum of money sent by someone working abroad to his or her family back home. It plays a large role in the economies of many countries as it contributes to the economic growth and to the livelihoods of those countries. Digital remittances have emerged with the advent of FinTech, leading to the rise of comparison platforms or aggregators. According to World Bank, in 2019, remittances were a total of USD 573 billion, of which USD 422 billion went to developing countries that involved 250 million migrant workers. Also, the top remittance recipients in 2018 were India with USD 79 billion, followed by China (USD 67 billion) and Mexico (USD 36 billion). Rapid developments in the industry and digitalization make individuals and even small-to-mid-sized companies enjoy faster, cheaper, and value-added foreign money transfer services.

By examining the current state of the Worldwide Money Remittance Services market, we have formed conclusions about how the market will take shape over the next decade? The significant growth of Money Remittance Services Market leading up to 2027 will present major opportunities and challenges for manufacturers, new-entrant, captive finance companies and dealerships. In particular, Key players will find insights in this report that can help them re-prioritise their customers and strategies in a volatile competitive landscape.

What’s Trending in Market?
• Blockchain-Based Remittances for Fast Transfer Time and Relatively Low Transaction Costs

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Highlights of Influencing Drivers:
• The surge in International Migrant Population and Safe, Fast & Reliable Services
• Increase in Adoption of Banking & Financial Services
• Growing Digitalization and Use of Internet and Mobile Phones

Market Restraints:
• Competitive Currency Conversion Tax and Commission Fee
• High Cost of Remittances to the Sender

Market Challenges:
• Transparency in Other Charges, Change in Government Policies
• The Entry of Wallets and FinTechs in the Remittance Business
• Concerns Regarding Money Laundering and Violent Activities

Money Remittance Services Market Segmentation: by Type (Inward Remittance, Outward Remittance), Application (Consumption, Saving & Investments, Others (Workers Remittance)), Channel (Banks, Money Transfer Operators, Others (FinTechs)), End User (Corporate/Businesses, Personal)

Key highlights of the Money Remittance Services Market Study:
• CAGR of the market during the forecast period 2020-2021
• Detailed information on factors that will accelerate the growth.
• Insights on upcoming trends and changes in consumer behaviour
• Uncovering market’s competitive landscape
• Comprehensive information about factors that will challenge the growth

Data Resources Breakdown of Primaries of Money Remittance Services Market:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.

The distribution of primary interviews is as follows:
- By Company Type: Tier 1- XX%, Tier 2- XX%, Tier 3- XX%
- By Designation: C- Level- XX%, D-Level- XX%, Others- XX%
- By Region: North America- XX%, Europe- XX%, Asia Pacific- XX%, Middle East & Africa- XX%, , and South America- XX%
Note: The tier of the companies has been defined based on their total revenue; as of 2020: Tier 1 = >USD Y billion, Tier 2 = USD Y billion to USD Y billion, and Tier 3 =
The key players in the Money Remittance Services market include companies such as Western Union Holdings, Inc. (United States), MoneyGram (United States), Bank of America (United States), Wells Fargo & Company (United States), TransferWise (United Kingdom), UAE Exchange (UAE), Ria Money Transfer (Euronet Worldwide) (United States), JPMorgan Chase & Co. (United States), Xoom (PayPal) (United States), Remitly, Inc. (United States)

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Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

Key questions answered
• Who are the Leading key players and what are their Key Business plans in the Global Money Remittance Services market?
• What are the key concerns of the five forces analysis of the Global Money Remittance Services market?
• What are different prospects and threats faced by the dealers in the Global Money Remittance Services market?
• What are the strengths and weaknesses of the key vendors?

Customization Service of the Report:-
Based on the given market data, AMA Research offers customizations in the reports according to client-specific requirements.

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