A new study from Juniper Research has found that the global number of registered mobile domestic money transfer users is expected to reach 2.5 billion this year, up from an estimated 1.7 billion in 2016.
This will be driven by social media apps such as WeChat, Facebook and others already witnessing a dramatic rise in service usage, alongside new services including Apple Pay Cash, and Zelle Pay; with leading mobile money services driving growth in emerging markets.
The new research, Digital Money Transfer & Remittances: Domestic & International Markets 2018-2022, forecasts that by 2018 the global share of domestic money transfer services, by mobile transaction values will be as follows:
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