International Digital Money Transfers were estimated $332 billion in 2019. Digital money transfers — sending money to another person via digital platforms — is a modern convenience that makes transferring funds easier, quicker and enables remote sends.
Considerable growth on the back of increasing growing urban and working population support with rising income, growing urbanization and Escalating application of POS systems in a number of industries such as Retail, Restaurants, Healthcare, Transportation, Ecommerce, among various others and on the other hand the ever-rising working population is driving factor for the consumer towards the digital payment. Cash still being preferred for general mode of transaction and growing threats of cybercrime few restrain factor for digital Money Transfers.
The global Digital Money Transfer market is segmented on the basis of Component, and Application. The global Digital Money Transfer market is segmented based on Component as Domestic Money Transfer and International Money Transfer. Based on Application the global Digital Money Transfer market is segmented as Consumer and Enterprise.
The regional outlook on the global Digital Money Transfer market covers regions, such as North America, Europe, Asia-Pacific, and Rest of the World. The Digital Money Transfer market for each region is further bifurcated for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Landscape
Partnership between banks & key players and E-wallet emergence increasing the specifications of the digital money transfer apps for increasing the demand and delivering the better consumer satisfaction more effectively. The global Digital Money Transfer market is highly competitive in nature with major players including Western Union (WU), Ria Financial Services, PayPal, TransferWise, WorldRemit, MoneyGram, Remitly, Azimo, TransferGo, InstaReM, TNG Wallet, Coins.ph, Toast, OrbitRemit, Digital Wallet Corporation, Avenues India Pvt Ltd, FlyRemit, WeChat Payment, Ant Financial/Alipay, and others. The report covers competitive analysis on the key market share holders. The companies are focused on several expansion and growth strategies to enhance their footprint in the Digital Money Transfer market. Market players are also involved in value chain integration gain competitive advantage.
Report Scope:
The Digital Money Transfer market report scope covers the in-depth business analysis considering major market dynamics, forecast parameters, and price trends for the industry growth. The report forecasts market sizing at global, regional and country levels, providing comprehensive outlook of industry trends in each market segments and sub-segments from 2017 to 2024. The market segmentations include,
Digital Money Transfer Market, By Component
• Domestic Money Transfer
• International Money Transfer
Digital Money Transfer Market, By Application
• Consumer
• Enterprise
Digital Money Transfer Market, By Region
• North America
• Europe
• Asia-Pacific
• Rest of the World
The report scope also includes competitive landscape covering the competitive analysis, strategy analysis and company profiles of the major market players. The companies profiled in the report include Western Union (WU), Ria Financial Services, PayPal, TransferWise, WorldRemit, MoneyGram, Remitly, Azimo, TransferGo, InstaReM, TNG Wallet, Coins.ph, Toast, OrbitRemit, Digital Wallet Corporation, Avenues India Pvt Ltd, FlyRemit, WeChat Payment, Ant Financial/Alipay, and others. Company profiles cover company overview, product landscape, financial overview, and strategy analysis.
Report Highlights
• Global Digital Money Transfer market sizes from 2017 to 2024
• Market growth projections through 2024 and the resultant market forecast for 2024
• Impact of the market dynamics including market drivers, restraints and opportunities in the market size
• Key industry trends, product trends, and application trends
• Major driving/ leading segmentations, regions and countries in the global Digital Money Transfer market
• Competitive analysis with comprehensive company profiles of the leading industry players
• In-depth analysis on growth and expansion strategies adopted by market players and their resulting effect on market growth and competition
Report Customizations
The customization research services cover the additional custom report features such as additional regional and country level analysis as per the client requirements.
Table of Contents
1. Introduction
1.1 Key Insights
1.2 Report Overview
1.3 Markets Covered
1.4 Stakeholders
2. Research Methodology
2.1 Research Scope
2.2 Market Research Process
2.3 Research Data Analysis
2.4.1 Secondary Research
2.4.2 Primary Research
2.4.3 Models for Estimation
2.5 Market Size Estimation
2.5.1 Bottom-Up Approach - Segmental Market Analysis
2.5.2 Top-Down Approach - Parent Market Analysis
3. Executive Summary
4. Market Overview
4.1 Introduction
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Challenges
4.2 Porter's Five Force Analysis
5. Digital Money Transfer Market, By Component
5.1 Introduction
5.2 Domestic Money Transfer
5.2.1 Market Overview
5.2.2 Market Size and Forecast
5.3 International Money Transfer
5.3.1 Market Overview
5.3.2 Market Size and Forecast
6. Digital Money Transfer Market, By Application
6.1 Introduction
6.2 Consumer
6.2.1 Market Overview
6.2.2 Market Size and Forecast
6.3 Enterprise
6.3.1 Market Overview
6.3.2 Market Size and Forecast
7. Digital Money Transfer Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 North America Digital Money Transfer, By Component
7.2.2 North America Digital Money Transfer, By Application
7.3 Europe
7.3.1 Europe Digital Money Transfer, By Component
7.3.2 Europe Digital Money Transfer, By Application
7.4 Asia-Pacific
7.4.1 Asia-Pacific Digital Money Transfer, By Component
7.4.2 Asia-Pacific Digital Money Transfer, By Application
7.5 Rest of the World
7.5.1 Rest of the World Digital Money Transfer, By Component
7.5.2 Rest of the World Digital Money Transfer, By Application
8. Competitive Insights
8.1 Key Insights
8.2 Company Market Share Analysis
8.3 Strategic Outlook
8.3.1 Mergers & Acquisitions
8.3.2 New Product Development
8.3.3 Portfolio/Production Capacity Expansions
8.3.4 Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5 Others
9. Company Profiles
9.1 Western Union (WU)
9.1.1 Company Overview
9.1.2 Product/Service Landscape
9.1.3 Financial Overview
9.1.4 Recent Developments
9.2 Ria Financial Services
9.2.1 Company Overview
9.2.2 Product/Service Landscape
9.2.3 Financial Overview
9.2.4 Recent Developments
9.3 PayPal
9.3.1 Company Overview
9.3.2 Product/Service Landscape
9.3.3 Financial Overview
9.3.4 Recent Developments
9.4 TransferWise
9.4.1 Company Overview
9.4.2 Product/Service Landscape
9.4.3 Financial Overview
9.4.4 Recent Developments
9.5 WorldRemit
9.5.1 Company Overview
9.5.2 Product/Service Landscape
9.5.3 Financial Overview
9.5.4 Recent Developments
9.6 MoneyGram
9.6.1 Company Overview
9.6.2 Product/Service Landscape
9.6.3 Financial Overview
9.6.4 Recent Developments
9.7 Remitly
9.7.1 Company Overview
9.7.2 Product/Service Landscape
9.7.3 Financial Overview
9.7.4 Recent Developments
9.8 Azimo
9.8.1 Company Overview
9.8.2 Product/Service Landscape
9.8.3 Financial Overview
9.8.4 Recent Developments
9.9 TransferGo
9.9.1 Company Overview
9.9.2 Product/Service Landscape
9.9.3 Financial Overview
9.9.4 Recent Developments
9.10 InstaReM
9.10.1 Company Overview
9.10.2 Product/Service Landscape
9.10.3 Financial Overview
9.10.4 Recent Developments
9.11 TNG Wallet
9.11.1 Company Overview
9.11.2 Product/Service Landscape
9.11.3 Financial Overview
9.11.4 Recent Developments
9.12 Coins.ph
9.12.1 Company Overview
9.12.2 Product/Service Landscape
9.12.3 Financial Overview
9.12.4 Recent Developments
9.13 Toast
9.13.1 Company Overview
9.13.2 Product/Service Landscape
9.13.3 Financial Overview
9.13.4 Recent Developments
9.14 OrbitRemit
9.14.1 Company Overview
9.14.2 Product/Service Landscape
9.14.3 Financial Overview
9.14.4 Recent Developments
9.15 Digital Wallet Corporation
9.15.1 Company Overview
9.15.2 Product/Service Landscape
9.15.3 Financial Overview
9.15.4 Recent Developments
9.16 Avenues India Pvt Ltd
9.16.1 Company Overview
9.16.2 Product/Service Landscape
9.16.3 Financial Overview
9.16.4 Recent Developments
9.17 FlyRemit
9.17.1 Company Overview
9.17.2 Product/Service Landscape
9.17.3 Financial Overview
9.17.4 Recent Developments
9.18 WeChat Payment
9.18.1 Company Overview
9.18.2 Product/Service Landscape
9.18.3 Financial Overview
9.18.4 Recent Developments
9.19 Ant Financial/Alipay
9.19.1 Company Overview
9.19.2 Product/Service Landscape
9.19.3 Financial Overview
9.19.4 Recent Developments
SDMR employs a three way data triangulation approach to arrive at market estimates. We use primary research, secondary research and data triangulation by top down and bottom up approach
Secondary Research:
Our research methodology involves in-depth desk research using various secondary sources. Data is gathered from association/government publications/databases, company websites, press releases, annual reports/presentations/sec filings, technical papers, journals, research papers, magazines, conferences, tradeshows, and blogs.
Key Data Points through secondary research-
Macro-economic data points
Import Export data
Identification of major market trends across various applications
Primary understanding of the industry for both the regions
Competitors analysis for the production capacities, key production sites, competitive landscape
Key customers
Production Capacity
Pricing Scenario
Cost Margin Analysis
Key Data Points through primary research-
Major factors driving the market and its end application markets
Comparative analysis and customer analysis
Regional presence
Collaborations or tie-ups
Annual Production, and sales
Profit Margins
Average Selling Price
Data Triangulation:
Data triangulation is done using top down and bottom approaches. However, to develop accurate market sizing estimations, both the methodologies are used to accurately arrive at the market size. Insert Image
