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Digital Remittance Market Analysis - Industry Specific Opportunities and Trends Affecting the Growth - Says GIS
Digital Remittance Market
Read more about Digital Remittance Market here: https://www.globalinsightservices.com/reports/digital-remittance-market/
Digital Remittance is a term used to describe the electronic transfer of money from one person to another. This can be done through a number of different platforms, such as email, text message, or online banking. The sender typically initiates the transfer by entering the recipient's information, such as their name and bank account number. The funds are then transferred from the sender's account to the recipient's account, and the recipient can access the funds immediately.
Key Trends:
1. The use of blockchain technology is becoming more widespread in the remittance industry. This is because blockchain provides a secure and efficient way to send and receive money.
2. More remittance providers are offering mobile apps that allow users to send and receive money on their smartphones. This is convenient for users and helps to reduce costs.
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Key Drivers:
There are a few key drivers of digital remittance market. Firstly, the global digital remittance market is driven by the increasing number of migrant workers. Migrant workers are increasingly using digital remittance services to send money back to their home countries. This is because digital remittance services are often cheaper and faster than traditional money transfer methods.
Market Segments:
The digital remittance market report is bifurcated on the basis of type, channel, end-user, and region. On the basis of type, it is segmented into inward digital remittance and outward digital remittance. Based on channel, it is analyzed across banks, money transfer operator, online platforms, and others. By end-user, it is categorized into business, personal, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Players:
The digital remittance market report includes players such as Azimo Limited, Digital Wallet Corp., InstaReM Pvt. Ltd., MoneyGram, PayPal Holdings, Inc., Ria Financial Services Ltd., TransferGo Ltd., TransferWise Ltd., Western Union Holdings, Inc., and WorldRemit Ltd.
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