Published on : Oct 24, 2019
Remittance is giving payment in return of some good or service to another party and is generally associated with the money sent to a distantly staying family. Remittance significantly influences economy of small and developing nations. It often constitutes disaster relief fund and helps to raise people’s standard of living.
Remittance represents a large supply of foreign fund. It effects local consumption demand and supports volatile flow of international funds such as foreign direct investment. Remittances increase household expenditure on education, housing and other activities that generate income. Advancement in information and communication technologies have enabled innovative delivery of financial products and services. Digital money transfer has revived remittance sector. Urban and working population forms a major segment of global digital money transfer and remittance market. Rising income has enabled remittance in different industries including retail, healthcare, ecommerce, restaurants and transport.
An intelligence report titled, “Global Digital Money Transfer and Remittance Market – Analysis By Type (Domestic, International), By Application (Consumer, Enterprise): Sizing, Growth, Opportunities and Forecast (2019 – 2024)” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository
Digital money transfer promotes sustainable development
Digital money transfers have introduced new services and products in market to facilitate convenient remittance. Digital transfers and remittances enhance customer’s ability to pursue financial goals. Innovative solutions have shifted the landscape of remittance services towards sustainable development. Digital money transfer has reduced cost and increased convenience with sending remittance. Mobile remittance solutions have been launched by many companies.
Digital money transfer reduces travel and wait time of traditional remittance approaches. Digital money payments have been successfully integrated with remittance for various reasons that include enhanced smart phone penetration, increasing digital transactions demand and faster cross-border transfer. Young and digital-savvy population forms the major customer segment of digital money payment ecosystem. The companies in competitive landscape of digital money transfer and remittance market are evaluating four major areas that include cost, speed, convenience and safety to acquire customers and gain competitive edge.
Global digital money transfer and remittance market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Global digital money transfer and remittance market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Global digital money transfer and remittance market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on digital money transfer and remittance.
An insightful and deep-dive assessment of the competitive assessment of the Global digital money transfer and remittance market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Global digital money transfer and remittance market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Global digital money transfer and remittance market: Research Methodology
Primary sources and secondary sources propel intelligence report on Global digital money transfer and remittance market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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