Digital Remittance Global Market Report 2024

Global Digital Remittance Market Report 2024

Digital Remittance Global Market Report 2024 – By Type (Inward Digital Remittance, Outward Digital Remittance), By Channel (Banks, Money Transfer Operators, Online Platforms, Other Channels), By End Use (Migrant Labor Workforce, Individual, Small Businesses, Other End Uses) – Market Size, Trends, And Global Forecast 2024-2033

Name: Digital Remittance Global Market Report 2024
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Digital Remittance Global Market Report 2024

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Digital Remittance Global Market Report 2024

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Digital Remittance Market Definition

Digital remittances refer to the digital exchange of money beyond international borders from a single individual or establishment to others. Digital remittances are done in several ways, including online or mobile apps that do not require transmitting currency.

The main types of digital remittance are inward digital remittance and outward digital remittance. Inward digital remittance is a safe bank-to-bank transfer of funds from an overseas account to a domestic one that helps insulate poor nations from financial setbacks. Various types of channels are used, including banks, money transfer operators, online platforms, and others, used by several end users, including the migrant labor workforce, individuals, small businesses, and others.

Digital Remittance Market Segmentation

The digital remittance market covered in this report is segmented –

1) By Type: Inward Digital Remittance, Outward Digital Remittance

2) By Channel: Banks, Money Transfer Operators, Online Platforms, Other Channels

3) By End Use: Migrant Labor Workforce, Individual, Small Businesses, Other End Uses

Global Digital Remittance Market Size 2023 to 2028: Graph

Digital Remittance Market Size 2024 And Growth Rate

The digital remittance market size has grown rapidly in recent years. It will grow from $21.85 billion in 2023 to $25.02 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to globalization and increased migration patterns, expansion of the internet and digital connectivity, rise of mobile and smartphone usage, emergence of online banking and fintech platforms, demand for faster and more convenient money transfers

Digital Remittance Market Growth Forecast

The digital remittance market size is expected to see rapid growth in the next few years. It will grow to $43.26 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to regulatory changes facilitating digital transactions, development of secure online payment gateways, adoption of central bank digital currencies, development of low-cost and scalable digital payment solutions, surge in the use of cryptocurrency for remittances, development of instant and real-time cross-border payment systems, growth of remittance-as-a-service (raas) models. Major trends in the forecast period include technological advancements in payment systems, integration of blockchain for secure and transparent transactions, artificial intelligence in remittance services, integration of biometric authentication in remittance services, integration of machine learning.

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Digital Remittance Market Driver: Surge In International Transactions Fuels Growth In Digital Remittance Market

A rising number of international transactions is expected to propel the growth of the digital remittance market going forward. International money transactions refer to the process by which money is paid directly to a person's or company's overseas bank account. One can make international money transfers with the aid of a bank, an international money transfer service, online platforms, or specific agents. Digital remittances can provide quicker and more effective transfers with other money transfer operator developments since they use new money movement networks and, in many cases, avoid correspondent banking movements. For instance, in May 2022, according to the World Bank, a US-based international financial institution, the amount of officially registered money transfers sent to low- and middle-income countries (LMICs) is anticipated to rise by 4.2% in 2022 to $630 billion. Therefore, the rising number of international transactions is driving the growth of the digital remittance market.

Digital Remittance Market Driver: Rising Mobile And Internet Penetration Is Anticipated To Fuel The Digital Remittances Market

The rising mobile and internet penetration is expected to propel the growth of the digital remittance market going forward. Mobile and internet penetration refers to the widespread accessibility and usage of mobile devices and internet services within a specific population or geographic area. Digital remittances facilitate quick and secure money transfers through mobile devices and the Internet, revolutionizing the traditional remittance process. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, there were 71.8 million mobile connections in the UK at the beginning of 2022, a 3.8% (or around 2.6 million) increase over 2021. Furthermore, in August 2023, according to Demand Sage, a US-based Google Sheets-based revenue operations platform, there will be 5.3 billion internet users worldwide as of 2023, meaning over 65% of the world’s population has access to the Internet. This number of Internet users is expected to reach 6.54 billion by 2025. Therefore, the rising mobile and internet penetration is driving the digital remittance market.

Global Digital Remittance Market Major Players

Major companies operating in the digital remittance market report are Remitly Inc., Citigroup Inc., American Express Company, PayPal Holdings Inc., Mastercard Inc., Western Union Holdings Inc., MoneyGram International Inc., Ria Money Transfer, Wise Payments Limited, WorldRemit Corp., Flywire Payments Corporation, OzForex Limited., Xoom Corporation, GoCardless Ltd., Nium Pte. Ltd., Touch 'n Go Sdn Bhd, PaySend, OrbitRemit Limited, Taptap Send, TransferGo Ltd., CurrencyFair, Currencycloud, Pangea Money Transfer, Azimo Ltd., Remitbee, InstaReM Pvt. Ltd., Digital Wallet Corporation, SingX Pte Ltd.

Global Digital Remittance Market Trend: Product Innovation Drives Evolution In The Digital Remittance Market

Product innovation is a key trend gaining popularity in the digital remittance market. Major players operating in the digital remittance market are focused on innovating new products and solutions to sustain their position in the market. For instance, in June 2023, Velmie, a US-based financial technology provider, launched its white-label international remittance software, an international money transfer platform. It will make international transactions faster and more affordable than conventional cross-border payment methods and international money transfers. Its cost-effective, flexible, and scalable cloud-native software enables clients to launch their products in an average of three months. With an innovative currency translation engine powered by real-time market data and revenue optimization algorithms, the system now supports more than 38 currencies around the globe.

Global Digital Remittance Market Trend: Digital Services To Facilitate Seamless Digital Remittances

Major companies in the digital remittances market are focused on providing digital services, such as digital remittance services, to facilitate seamless digital remittances and gain a competitive edge in the market. Digital remittance service is a secure and efficient electronic platform for sending and receiving money across borders. For instance, in July 2023, TNG Digital Sdn Bhd, a Malaysia-based e-wallet operator, launched the GOremit, a digital remittance service, within the Touch 'n Go eWallet that allows users to securely send money. Senders undergo electronic Know Your Customer (eKYC) verification and can choose to transfer funds to the recipient's bank account, local eWallet, or cash pick-up points. Recipients typically receive funds within 15 minutes. The service currently supports e-wallets such as bKash, GCash, and PayMaya, with plans to expand partnerships in the future.

Digital Remittance Market Merger And Acquisition: Remitly Strengthens Global Presence With Acquisition Of Rewire

In August 2022, Remitly, a US-based online remittance service provider, acquired Rewire for $80 million. This acquisition will enable Remitly to establish closer connections with clients, offer more ease and flexibility, and bring more capacity and knowledge by incorporating Rewire's product development and engineering teams. Rewire is an Israel-based digital remittance fintech company.

Regional Outlook For The Global Digital Remittance Market

North America was the largest region in the digital remittance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital remittance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the digital remittance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The digital remittance market includes revenues earned by entities by providing digital remittance from banks digital remittance and digital money transfer operators. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The digital remittance market research report is one of a series of new reports from The Business Research Company that provides digital remittance market statistics, including digital remittance industry global market size, regional shares, competitors with a digital remittance market share, detailed digital remittance market segments, market trends and opportunities, and any further data you may need to thrive in the digital remittance industry. This digital remittance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Digital Remittance Market Report Forecast And Analysis

Report Attribute	Details
Market Size Value In 2024	$25.02 billion
Revenue Forecast In 2033	$43.26 billion
Growth Rate	CAGR of 14.7% from 2024 to 2033
Base Year For Estimation	2023
Actual Estimates/Historical Data	2018-2023
Forecast Period	2024 - 2028 - 2033
Market Representation	Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered	1) By Type: Inward Digital Remittance, Outward Digital Remittance 2) By Channel: Banks, Money Transfer Operators, Online Platforms, Other Channels 3) By End Use: Migrant Labor Workforce, Individual, Small Businesses, Other End Uses
Regional Scope	Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope	The countries covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. Additional countries that can be covered in the report for an additional fee: Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, Mexico, Chile, Argentina, Colombia, Peru, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Key Companies Profiled	Remitly Inc.; Citigroup Inc.; American Express Company; PayPal Holdings Inc.; Mastercard Inc.; Western Union Holdings Inc.; MoneyGram International Inc.; Ria Money Transfer; Wise Payments Limited; WorldRemit Corp.; Flywire Payments Corporation; OzForex Limited.; Xoom Corporation; GoCardless Ltd.; Nium Pte. Ltd.; Touch 'n Go Sdn Bhd; PaySend; OrbitRemit Limited; Taptap Send; TransferGo Ltd.; CurrencyFair; Currencycloud; Pangea Money Transfer; Azimo Ltd.; Remitbee; InstaReM Pvt. Ltd.; Digital Wallet Corporation; SingX Pte Ltd.
Customization Scope	Request for Sample
Pricing And Purchase Options	Explore Purchase Options

1. Executive Summary

2. Digital Remittance Market Characteristics

3. Digital Remittance Market Trends And Strategies

4. Digital Remittance Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market

4.2. Ukraine-Russia War Impact On The Market

4.3. COVID-19 Impact On The Market

5. Global Digital Remittance Market Size and Growth

5.1. Global Digital Remittance Market Drivers and Restraints

5.1.1. Drivers Of The Market

5.1.2. Restraints Of The Market

5.2. Global Digital Remittance Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

5.3. Global Digital Remittance Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Digital Remittance Market Segmentation

6.1. Global Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Inward Digital Remittance

Outward Digital Remittance

6.2. Global Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Banks

Money Transfer Operators

Online Platforms

Other Channels

6.3. Global Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Migrant Labor Workforce

Individual

Small Businesses

Other End Uses

7. Digital Remittance Market Regional And Country Analysis

7.1. Global Digital Remittance Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

7.2. Global Digital Remittance Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Digital Remittance Market

8.1. Asia-Pacific Digital Remittance Market Overview

Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

8.2. Asia-Pacific Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8.3. Asia-Pacific Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8.4. Asia-Pacific Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Digital Remittance Market

9.1. China Digital Remittance Market Overview

9.2. China Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

9.3. China Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

9.4. China Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Digital Remittance Market

10.1. India Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

10.2. India Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

10.3. India Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Digital Remittance Market

11.1. Japan Digital Remittance Market Overview

11.2. Japan Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11.3. Japan Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11.4. Japan Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Digital Remittance Market

12.1. Australia Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12.2. Australia Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12.3. Australia Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Digital Remittance Market

13.1. Indonesia Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13.2. Indonesia Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13.3. Indonesia Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Digital Remittance Market

14.1. South Korea Digital Remittance Market Overview

14.2. South Korea Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14.3. South Korea Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14.4. South Korea Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Digital Remittance Market

15.1. Western Europe Digital Remittance Market Overview

15.2. Western Europe Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15.3. Western Europe Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15.4. Western Europe Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Digital Remittance Market

16.1. UK Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16.2. UK Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16.3. UK Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Digital Remittance Market

17.1. Germany Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17.2. Germany Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17.3. Germany Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Digital Remittance Market

18.5. France Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18.6. France Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18.7. France Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Digital Remittance Market

19.9. Italy Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19.10. Italy Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19.11. Italy Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Digital Remittance Market

20.13. Spain Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20.14. Spain Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20.15. Spain Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Digital Remittance Market

21.1. Eastern Europe Digital Remittance Market Overview

21.2. Eastern Europe Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21.3. Eastern Europe Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21.4. Eastern Europe Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Digital Remittance Market

22.1. Russia Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22.2. Russia Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22.3. Russia Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Digital Remittance Market

23.1. North America Digital Remittance Market Overview

23.2. North America Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23.3. North America Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23.4. North America Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Digital Remittance Market

24.1. USA Digital Remittance Market Overview

24.2. USA Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24.3. USA Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24.4. USA Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Digital Remittance Market

25.1. Canada Digital Remittance Market Overview

25.2. Canada Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25.3. Canada Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25.4. Canada Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Digital Remittance Market

26.1. South America Digital Remittance Market Overview

26.2. South America Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26.3. South America Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26.4. South America Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Digital Remittance Market

27.1. Brazil Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27.2. Brazil Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27.3. Brazil Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Digital Remittance Market

28.1. Middle East Digital Remittance Market Overview

28.2. Middle East Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28.3. Middle East Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28.4. Middle East Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Digital Remittance Market

29.1. Africa Digital Remittance Market Overview

29.2. Africa Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29.3. Africa Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29.4. Africa Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Digital Remittance Market Competitive Landscape And Company Profiles

30.1. Digital Remittance Market Competitive Landscape

30.2. Digital Remittance Market Company Profiles

30.2.1. Remitly Inc.

30.2.1.1. Overview

30.2.1.2. Products and Services

30.2.1.3. Strategy

30.2.1.4. Financial Performance

30.2.2. Citigroup Inc.

30.2.2.1. Overview

30.2.2.2. Products and Services

30.2.2.3. Strategy

30.2.2.4. Financial Performance

30.2.3. American Express Company

30.2.3.1. Overview

30.2.3.2. Products and Services

30.2.3.3. Strategy

30.2.3.4. Financial Performance

30.2.4. PayPal Holdings Inc.

30.2.4.1. Overview

30.2.4.2. Products and Services

30.2.4.3. Strategy

30.2.4.4. Financial Performance

30.2.5. Mastercard Inc.

30.2.5.1. Overview

30.2.5.2. Products and Services

30.2.5.3. Strategy

30.2.5.4. Financial Performance

31. Digital Remittance Market Other Major And Innovative Companies

31.1. Western Union Holdings Inc.

31.2. MoneyGram International Inc.

31.3. Ria Money Transfer

31.4. Wise Payments Limited

31.5. WorldRemit Corp.

31.6. Flywire Payments Corporation

31.7. OzForex Limited.

31.8. Xoom Corporation

31.9. GoCardless Ltd.

31.10. Nium Pte. Ltd.

31.11. Touch 'n Go Sdn Bhd

31.12. PaySend

31.13. OrbitRemit Limited

31.14. Taptap Send

31.15. TransferGo Ltd.

32. Global Digital Remittance Market Competitive Benchmarking

33. Global Digital Remittance Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Digital Remittance Market

35. Digital Remittance Market Future Outlook and Potential Analysis

35.1 Digital Remittance Market In 2028 - Countries Offering Most New Opportunities

35.2 Digital Remittance Market In 2028 - Segments Offering Most New Opportunities

35.3 Digital Remittance Market In 2028 - Growth Strategies

35.3.1 Market Trend Based Strategies

35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations

36.2. Currencies

36.3. Historic And Forecast Inflation Rates

36.4. Research Inquiries

36.5. The Business Research Company

36.6. Copyright And Disclaimer

List Of Tables

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 6: Global Digital Remittance Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 7: Global Digital Remittance Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 8: Asia-Pacific, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 9: Asia-Pacific, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 10: Asia-Pacific, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 11: China, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 12: China, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 13: China, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 14: India, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 15: India, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 16: India, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 17: Japan, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 18: Japan, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 19: Japan, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 20: Australia, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 21: Australia, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 22: Australia, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 23: Indonesia, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 24: Indonesia, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 25: Indonesia, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 26: South Korea, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 27: South Korea, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 28: South Korea, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 29: Western Europe, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 30: Western Europe, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 31: Western Europe, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 32: UK, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 33: UK, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 34: UK, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 35: Germany, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 36: Germany, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 37: Germany, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 38: France, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 39: France, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 40: France, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 41: Italy, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 42: Italy, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 43: Italy, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 44: Spain, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 45: Spain, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 46: Spain, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 47: Eastern Europe, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 48: Eastern Europe, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 49: Eastern Europe, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 50: Russia, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 51: Russia, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 52: Russia, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 53: North America, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 54: North America, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 55: North America, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 56: USA, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 57: USA, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 58: USA, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 59: Canada, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 60: Canada, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 61: Canada, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 62: South America, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 63: South America, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 64: South America, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 65: Brazil, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 66: Brazil, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 67: Brazil, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 68: Middle East, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 69: Middle East, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 70: Middle East, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 71: Africa, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 72: Africa, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 73: Africa, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 74: Remitly Inc. Financial Performance

Table 75: Citigroup Inc. Financial Performance

Table 76: American Express Company Financial Performance

Table 77: PayPal Holdings Inc. Financial Performance

Table 78: Mastercard Inc. Financial Performance

List Of Figures

Figure 1: Global Historic Market Growth, 2018-2023, $ Billion

Figure 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Figure 3: Global Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 4: Global Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 5: Global Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 6: Global Digital Remittance Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 7: Global Digital Remittance Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 8: Asia-Pacific, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 9: Asia-Pacific, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 10: Asia-Pacific, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 11: China, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 12: China, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 13: China, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 14: India, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 15: India, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 16: India, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 17: Japan, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 18: Japan, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 19: Japan, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 20: Australia, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 21: Australia, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 22: Australia, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 23: Indonesia, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 24: Indonesia, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 25: Indonesia, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 26: South Korea, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 27: South Korea, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 28: South Korea, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 29: Western Europe, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 30: Western Europe, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 31: Western Europe, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 32: UK, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 33: UK, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 34: UK, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 35: Germany, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 36: Germany, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 37: Germany, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 38: France, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 39: France, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 40: France, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 41: Italy, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 42: Italy, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 43: Italy, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 44: Spain, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 45: Spain, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 46: Spain, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 47: Eastern Europe, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 48: Eastern Europe, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 49: Eastern Europe, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 50: Russia, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 51: Russia, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 52: Russia, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 53: North America, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 54: North America, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 55: North America, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 56: USA, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 57: USA, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 58: USA, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 59: Canada, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 60: Canada, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 61: Canada, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 62: South America, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 63: South America, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 64: South America, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 65: Brazil, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 66: Brazil, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 67: Brazil, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 68: Middle East, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 69: Middle East, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 70: Middle East, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 71: Africa, Digital Remittance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 72: Africa, Digital Remittance Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 73: Africa, Digital Remittance Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 74: Remitly Inc. Financial Performance

Figure 75: Citigroup Inc. Financial Performance

Figure 76: American Express Company Financial Performance

Figure 77: PayPal Holdings Inc. Financial Performance

Figure 78: Mastercard Inc. Financial Performance

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Frequently Asked Questions

What is the definition of the digital remittance market?

How will the digital remittance market drivers and restraints affect the digital remittance market dynamics? What forces will shape the digital remittance industry going forward?

The digital remittance market major growth driver - Surge In International Transactions Fuels Growth In Digital Remittance Market. For further insights on the digital remittance market, request a sample here

What is the forecast market size or the forecast market value of the digital remittance market?

The digital remittance market size has grown rapidly in recent years. It will grow from $21.85 billion in 2023 to $25.02 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to globalization and increased migration patterns, expansion of the internet and digital connectivity, rise of mobile and smartphone usage, emergence of online banking and fintech platforms, demand for faster and more convenient money transfers . The digital remittance market size is expected to see rapid growth in the next few years. It will grow to $43.26 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to regulatory changes facilitating digital transactions, development of secure online payment gateways, adoption of central bank digital currencies, development of low-cost and scalable digital payment solutions, surge in the use of cryptocurrency for remittances, development of instant and real-time cross-border payment systems, growth of remittance-as-a-service (raas) models. Major trends in the forecast period include technological advancements in payment systems, integration of blockchain for secure and transparent transactions, artificial intelligence in remittance services, integration of biometric authentication in remittance services, integration of machine learning. For further insights on the digital remittance market, request a sample here

How is the digital remittance market segmented?

The digital remittance market is segmented
1) By Type: Inward Digital Remittance, Outward Digital Remittance
2) By Channel: Banks, Money Transfer Operators, Online Platforms, Other Channels
3) By End Use: Migrant Labor Workforce, Individual, Small Businesses, Other End UsesFor further insights on the digital remittance market, request a sample here

Which region has the largest share of the digital remittance market? What are the other regions covered in the report?

North America was the largest region in the digital remittance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital remittance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa For further insights on the digital remittance market, request a sample here.

Who are the major players in the digital remittance market?

What are the key trends in the digital remittance market?

Major trend in the digital remittance market - Product Innovation Drives Evolution In The Digital Remittance Market. For further insights on the digital remittance market, request a sample here.

What are the major opportunities in the digital remittance market? What are the strategies for the digital remittance market?

For detailed insights on the major opportunities and strategies in the digital remittance market, request a sample here.

How does the digital remittance market relate to the overall economy and other similar markets?

For detailed insights on digital remittance market's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the digital remittance industry?

For detailed insights on the mergers and acquisitions in the digital remittance industry, request a sample here.

What are the key dynamics influencing the digital remittance market growth? SWOT analysis of the digital remittance market.

For detailed insights on the key dynamics influencing the digital remittance market growth and SWOT analysis of the digital remittance industry, request a sample here.