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Research Details
Published: 15-04-2024
Category:Fintech & Payments
Regions & Countries:
  • North America
    • US
    • Canada
  • Latin America
    • Argentina
    • Brazil
    • Chile
    • Colombia
    • Ecuador
    • Mexico
    • Peru
    • Uruguay
  • West Europe
    • Austria
    • Belgium
    • Denmark
    • Finland
    • France
    • Germany
    • Greece
    • Ireland
    • Italy
    • Netherlands
    • Norway
    • Portugal
    • Spain
    • Sweden
    • Switzerland
    • United Kingdom
  • Central & East Europe
    • Croatia
    • Czechia
    • Hungary
    • Poland
    • Romania
    • Russian Federation
    • Türkiye
    • Ukraine
  • Far East & China
    • China
    • Hong Kong
    • Japan
    • South Korea
  • Indian Subcontinent
    • Bangladesh
    • India
    • Nepal
    • Pakistan
  • Rest of Asia Pacific
    • Australia
    • Indonesia
    • Malaysia
    • New Zealand
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
  • Africa & Middle East
    • Algeria
    • Egypt
    • Israel
    • Kenya
    • Kuwait
    • Nigeria
    • Qatar
    • Saudi Arabia
    • South Africa
    • United Arab Emirates
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Key Statistics

$3.9tn

Total transaction value in 2024

$6.5tn

Total transaction value in 2028

41%

2024 to 2028 market growth

2024-2028

 Forecast period

Overview

Our Digital Money Transfer & Remittances research report provides a detailed evaluation and analysis of both the domestic and international markets, including the impact of instant payments, blockchain and CBDC and other initiatives disrupting the market such as mobile money, neobanks, mobile wallets and payment gateways. The research also considers the future challenges within digital money transfer and remittances, and emerging trends in the space.

In addition, this report covers market opportunities; providing strategic insights into the development of digital money transfer capabilities in line with new technologies, such as AI and machine learning.

It highlights future opportunities and technologies that are important for vendors, merchants and financial institutions to consider when adapting money transfer and digital remittances for the future, incorporating aspects such as Open Banking, instant transfers and CBDCs.

The report also positions 29 vendors across two Juniper Research Competitor Leaderboards, for digital money transfer and digital remittance; providing an invaluable resource for stakeholders seeking to understand the competitive landscape in the market.

The research suite contains a detailed dataset; providing forecasts for 61 countries across a wide range of different metrics, including total revenue from mobile domestic money transfer and online domestic money transfer to international mobile and online money transfer and instant transfers.

All report content is delivered in the English language.

Key Features
  • Market Dynamics: A strategic analysis of the major drivers, challenges, and innovations shaping the adoption and development of the digital money transfer and remittances space, including:
    • The importance of using digital money transfer and remittances systems in the face of growing digital solutions.
      Future strategic directions and market outlook for digital money transfer and remittances vendors.
    • Key drivers and benefits of digital money transfer and remittances for vendors, including an increase in global digital acceptance, the implementation of AI and ML, the analysis of real-time data and the impact on the digital money transfer and remittance space, as well as how money transfer platforms can improve the digital money transfer space.  
    • Country Readiness Index: Comprehensive coverage featuring country-level market analysis on the future of the market in a select 61 countries split by 8 key regions; thoroughly analysing each country’s potential success in the digital money transfer and remittance market, with insight into current and future trends, paired with supplementary 5-year forecast data.
  • Benchmark Industry Forecasts: Includes forecasts for the total money transfer for both domestic and international money movement, as well as the total money sent through consumer instant payment. This data is split by our 8 key forecast regions and 61 countries.
  • Juniper Research Competitor Leaderboards: Key player capability and capacity assessment for 29 vendors in the digital money transfer and remittance space, via two Juniper Research Competitor Leaderboards.
  • Market Dynamics: A strategic analysis of the major drivers, challenges, and innovations shaping the adoption and development of the digital money transfer and remittances space, including:
    • The importance of using digital money transfer and remittances systems in the face of growing digital solutions.
      Future strategic directions and market outlook for digital money transfer and remittances vendors.
    • Key drivers and benefits of digital money transfer and remittances for vendors, including an increase in global digital acceptance, the implementation of AI and ML, the analysis of real-time data and the impact on the digital money transfer and remittance space, as well as how money transfer platforms can improve the digital money transfer space.  
  • Country Readiness Index: Comprehensive coverage featuring country-level market analysis on the future of the market in a select 61 countries split by 8 key regions; thoroughly analysing each country’s potential success in the digital money transfer and remittance market, with insight into current and future trends, paired with supplementary 5-year forecast data.
  • Benchmark Industry Forecasts: Includes forecasts for the total money transfer for both domestic and international money movement, as well as the total money sent through consumer instant payment. This data is split by our 8 key forecast regions and 61 countries.
  • Juniper Research Competitor Leaderboards: Key player capability and capacity assessment for 29 vendors in the digital money transfer and remittance space, via two Juniper Research Competitor Leaderboards.

Research Deliverables

Market Data & Forecasting Report

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The numbers tell you what's happening, but our written report details why, alongside the methodologies.

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Interactive Forecast Excel

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Full 5-year forecasts for every available market metric provided in Excel format, with interactive 'What If' and scenario tools.

harvest Online Data Platform

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Access the very latest data in our exclusive online data platform, harvest. All the data from Excel, with frequent updates and a more user-friendly interface.

Market Trends & Strategies Report

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A comprehensive analysis of the current market landscape, alongside strategic recommendations.

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Competitor Leaderboard Report

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Provides a visual representation of the competitive positioning of the leaders within the market.

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The market-leading research suite for the Digital Money Transfer & Remittances market includes access to the full set of forecast data of 85 tables and over 40,000 datapoints. Metrics in the research suite include:

  • Total number of Money Transfer Users
  • Total Number of Money Transfer Transactions
  • Total Money Transfer Transaction Value 

These metrics are provided for the following key market verticals:

  • Mobile Domestic Money Transfer
  • Online Domestic Money Transfer
  • Mobile International Money Transfer
  • Online International Money Transfer
  • Consumer Instant Payments 

Juniper Research Interactive Forecast Excel contains the following functionality:

  • Statistics Analysis: Users benefit from the ability to search for specific metrics, displayed for all regions and countries across the data period. Graphs are easily modified and can be exported to the clipboard.
  • Country Data Tool: This tool lets users look at metrics for all regions and countries in the forecast period. Users can refine the metrics displayed via a search bar.
  • Country Comparison Tool: Users can select and compare specific countries. The ability to export graphs is included in this tool.
  • What-if Analysis: Here, users can compare forecast metrics against their own assumptions, via 5 interactive scenarios

Juniper Research’s Competitor Leaderboards provide detailed evaluation and market positioning for 29 leading vendors in the Digital Money Transfer & Remittances space. The vendors are positioned either as established leaders, leading challengers or disruptors and challengers, based on capacity and capability assessments. The vendors in the Digital Money Transfer Leaderboard include:

  • Amdocs
  • Comviva
  • Huawei
  • Infosys EdgeVerve
  • Interac
  • Mastercard
  • Nium
  • OBOPAY
  • PayPal
  • RemitONE
  • Ripple
  • Seamless Distribution Systems
  • Telepin Software
  • Thunes
  • Visa

The vendors in the Digital Remittances Competitor Leaderboard include:

  • Currencies Direct
  • CurrencyFair
  • FairFX
  • InstaREM
  • Moneycorp
  • MoneyGram
  • OFX
  • Remitly
  • Ria
  • Skrill
  • Western Union
  • Wise
  • WorldRemit
  • Xoom

Backed by a robust and comprehensive scoring methodology, Juniper Research’s Competitor Leaderboard allows readers to gain greater insight into leading market players; enabling them to view which companies have the highest market prospects and the strategies being implemented. 

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Market Trends & Strategies

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Competitor Leaderboard

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