Investorideas.com


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Investorideas.com potcasts - cannabis news and stocks to watch plus insight from thought leaders and experts    Investorideas.com crypto corner    Play by Play – the latest sports headlines and sports stock news    420 Cannabis Investor Ideas Call us 800 665 0411

 

Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Migrant Workers to Transfer $300 Billion via Digital Remittance Channels by 2021

Representing 44% of Formal International P2P Remittances

 

Hampshire, UK - March 5, 2018 (Investorideas.com Newswire) A new study from Juniper Research has found that international digital P2P remittances conducted via mobile and online platforms will exceed $300 billion globally by 2021, up from an estimated $225 billion in 2018.

The new research, Digital Money Transfer & Remittances: Domestic & International Markets 2018-2022, estimates that total international remittances via formal channels will exceed $600 billion in 2018. This means that international remittances conducted via mobile and online services will be 36% of formal remittance by value in 2018, growing to 44% by the end of 2021.

For more insights, download our free whitepaper - Why 2018 Is The Year Of Social Payments.

Traditional MTOs Lead as Digital Players Gain Market Share

The research found that traditional money transfer operators are expanding their digital footprint and, indeed, benefitting from their much delayed expansion into digital payments. Juniper forecasts that the combined market share for the top 4 money transfer operators will continue to increase over the next 4 years, reaching 39% of total formal remittances by 2022.

Meanwhile, digital-only challenger players such as TransferWise and Xoom are witnessing slow but increasing market share and revenue growth. Juniper estimates that the combined market share for digital disruptors such as TransferWise, Xoom, Remitly and WorldRemit, in terms of formal remittance transactions processed, will increase from 2.5% in 2015 to 12% in 2018.

Blockchain to Transform Remittances

The report also found that blockchain will have a significant role to play in the future evolution of transaction settlement solutions, with almost 1 in 3 of the proposed use cases for blockchain revolving around settlement and payments. Savings enabled by blockchain solutions will be passed on to consumers and enable transactions at or below the 3% average cost of remittances targeted.

Research author Nitin Bhas added: “This will result not only in more 'grey' remittance transferring to official channels, but also a net increase in remittance flows, helping to boost economies which are in part dependent upon remittances from migrant workers”.

Juniper Research is acknowledged as the leading analyst house in the Fintech & Payments sector, delivering pioneering research into payments, banking and financial services for more than a decade.

Contact:

sam.smith@juniperresearch.com
www.juniperresearch.com


TechSectorStocks.com - investing ideas in tech stocks - mobile payments, social media, AI and Robotics, Drone Stocks, GPS, Internet of Things (IoT)

Like Tech Stocks? View our Tech Stocks Directory  Get News Alerts on Tech Stocks


More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp