Money Remittance Services Market Seeking Excellent Growth : UAE Exchange, MoneyGram, Bank of America

Global Money Remittance Services Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, player's market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.

Major Players in This Report Include,
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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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.

Opportunities
• Partnership with Multiple Wallets to Scale-up The Business across the Globe
• Significant Increase in Reach of the Internet, Online and Mobile Phone

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

Market Trend
• Blockchain-Based Remittances for Fast Transfer Time and Relatively Low Transaction Costs

Challenges
• The Entry of Wallets and FinTechs in the Remittance Business
• Transparency in Other Charges, Change in Government Policies

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In this research study, the prime factors that are impelling the growth of the Global Money Remittance Services market report have been studied thoroughly in a bid to estimate the overall value and the size of this market by the end of the forecast period. The impact of the driving forces, limitations, challenges, and opportunities has been examined extensively. The key trends that manage the interest of the customers have also been interpreted accurately for the benefit of the readers.

The Money Remittance Services market study is being classified 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)

The report concludes with in-depth details on the business operations and financial structure of leading vendors in the Global Money Remittance Services market report, Overview of Key trends in the past and present are in reports that are reported to be beneficial for companies looking for venture businesses in this market. Information about the various marketing channels and well-known distributors in this market was also provided here. This study serves as a rich guide for established players and new players in this market.

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Extracts from Table of Contents
Money Remittance Services Market Research Report
Chapter 1 Money Remittance Services Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Revenue (Value, Volume*) by Region
Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions
Chapter 6 Global Revenue (Value, Volume*), Price* Trend by Type
Chapter 7 Global Market Analysis by Application
………………….continued

This report also analyzes the regulatory framework of the Global Markets Money Remittance Services Market Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analyzed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.

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