What is digital remittance?

Digital remittance refers to the online transfer of funds across international borders or domestically via digital platforms and technology, eliminating the need for cash or traditional banking channels.

What is the size of the global remittance market?

The Global Digital Remittance Market is anticipated to reach a valuation of USD 22.1 Billion in 2023 , driven by mobile-based remittance solutions. This trend is expected to create new opportunities for the global market, leading to a projected CAGR of 15.0% between 2023 and 2032. It is estimated to gain a valuation of approximately USD 77.7 Billion by 2032.

What are the latest trends in the remittance industry?

Remittance industry trends include blockchain technology, the growth of mobile money services and digital remittance services becoming more widely popular.

How are fintech remittance companies disrupting traditional remittance services?

Fintech remittance companies are disrupting traditional remittance services by offering faster, simpler, and cheaper ways of sending money across borders. Leveraging technology to lower both costs and times associated with traditional services as well as additional offerings like mobile wallets and prepaid cards; fintech companies are revolutionizing global money transfers in ways traditional services never could.

What are the main players in the digital remittance market?

The digital remittance market includes both traditional financial institutions and fintech companies. Some popular players include PayPal Holdings Inc. Digital Wallet Corporation InstaReM Pvt. Ltd. MoneyGram Azimo B.V. TransferGo Ltd. Western Union Holdings Inc. Ria Money Transfer. WorldRemit Ltd. OFX Other Key Players

Global Digital Remittance Market By Type (Outward Digital Remittance and Inward Digital Remittance), By Channel (Money Transfer Operators, Banks, Online Platforms, and Other Channels), By End-User(Business, Personal), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Published date: March 2024
Report ID: 12200
Number of Pages: 259
Format:

Overview
Table of Contents
Major Market Players
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- PayPal Holdings Inc.
- Digital Wallet Corporation
- InstaReM Pvt. Ltd.
- MoneyGram
- Azimo B.V.
- TransferGo Ltd.
- Western Union Holdings Inc.
- Ria Money Transfer.
- WorldRemit Ltd.
- OFX
- Other Key Players

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Report ID 12200
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