このレポートでは、国内外のデジタルマネートランスファーと送金市場を包括的に分析し、COVID-19パンデミックの影響と市場回復の潜在的なタイムラインを検証しています。

 

Report Description

Juniper Research’s new Digital Money Transfer & Remittances research provides a comprehensive analysis of both the domestic and international digital money transfer and remittance markets; examining the impact of the COVID-19 pandemic and the potential timeline for market recovery. It addresses key trends and developments within both the domestic and international money transfer and remittance markets, examines the current and potential further growth of mobile money, and outlines challenges posed by instant payments to established digital money transfer models. The research includes vendor analysis of players across the ecosystem via 3 separate Juniper Research Leaderboards.

 

The research also provides in-depth industry benchmark forecasts and analysis for:

This research suite includes:

KEY FEATURES

Sector Dynamics: Provides a detailed analysis of the digital money transfer market and key trends shaping the ecosystem:

Mobile Domestic Money Transfer

Online Domestic Money Transfer

Mobile International Money Transfer & Remittances

Online International Money Transfer & Remittances

Market Analysis: An independent analysis of the key trends and outlook for the digital money transfer market, including the growth of mobile transfers and remittances, as well as the shift towards digital payments and the threat posed by instant payments to established money transfer models.

Interviews: Key money transfer and remittance platform vendors across the value chain interviewed:

Amdocs

Comviva

Huawei

Juniper Research Leaderboards: Key player capability and capacity assessments for 44 vendors within the digital money transfer and remittances ecosystem, via 3 separate Leaderboards:

Leading international remittance providers

Key mobile money transfer providers

Prominent digital money transfer platform providers

Benchmark Industry Forecasts: Includes forecasts for domestic and international money transfer and remittances, split by mobile and online, and providing detailed insights into user adoption, as well as transaction volume and value

KEY QUESTIONS

COMPANIES REFERENCED

Interviewed: Amdocs, Comviva, Huawei.

 

Case Studied: Ripple, SWIFT.

 

Included in Juniper Research International Remittance Providers Leaderboard: Azimo, Currencies Direct, CurrencyFair, FairFX, InstaReM, moneycorp, MoneyGram, OFX, Remitly, Ria, Western Union, Wise, WorldRemit, Xoom.

 

Included in Juniper Research Mobile Money Transfer Leaderboard: Airtel Money, bKash, Easypaisa, EcoCash, Equitel, eZ Cash, LinkAja, MonCash, M-PESA, MTN Mobile Money, Orange Money, Tigo, Transfer, uPaisa, Wave Money.

 

Included in Juniper Research Digital Money Transfer & Remittances Platform Providers Leaderboard: Amdocs, Comviva, FinCode, Huawei, Infosys EdgeVerve, Interac, Mastercard, OBOPAY, PayPal, RemitONE, Ripple, Seamless Distribution Systems, Telepin Software, Thunes, Visa.

 

Mentioned: 2Keys, ABN AMRO, Abu Dhabi Global Market Financial Services Regulatory Authority, Accel, Accenture, ACI Worldwide, Acxsys Corporation, ADD.XYZ, AED, AFEX Money Express, Africell, Afrimoney, AfroCoin, Airtel, Alipay, Allianz, Amazon, America Movil, American Express, Ant Financial, Apex Money, Apple, Apptopia, Aricent, AsiaHawala, Axiata, Azam Group, Banamex, Banaras Hindu University, Banco Inbursa, Bancolombia, Bank Asia, Bank Muscat, Bank of America Merrill Lynch, Bank of Jamaica, Bank of Montreal, Barclays, Barri, Batelco, BDO, Bharti Enterprises, Bill & Melinda Gates Foundation, Binance.US, Birla Institute of Technology and Science, BIS (Bank of International Settlements), Blockchain.com, BNP Paribas, BOSS Revolution, Bridgepoint, BSNL, BTC SMEGA, Canada Trust, Canadian Western Bank, Cassava Remit, CDOT (Center for Development of Telematics), Central Bank of Brazil, Central Bank of Ghana, Central Bank of Ireland, Central Bank of Kenya, Central Bank of Nigeria, Central Bank of Somalia, Checkout.com, Chime, ChromaWay, CIBC, Cisco Systems, Citi, Citibank, Coinbase, CoinMarketCap, Commerce Bank, Communitech, Compania Na?ional? ‘Po?ta Roman? S.A., Convoy Payments Limited, Co-operative Bank of Kenya, Credit Union Central of Canada, CSG, Cuentas, DBS, Delhi University, Dialog, DigiBank, Digicel, Dinex, Discover Financial Services, dLocal, Early Warning, Earthport, EcoCash, Econet Wireless, eCurrency Mint, eDahab, EIB (European Investment Bank), EITC, Emirates NBD, EPC (European Payments Council), Equity Bank, Ericsson, eServGlobal, Essar, Etisalat, Euronet, European Central Bank, Facebook, Federation des Caisses Desjardins du Quebec, FICO, Fidelity Bank, Finacle, FINCA Canada, First Bank, First Calgary Financial, Flutterwave, Free Money, Gcash, Ghana Chamber of Telecommunications, GhIPSS (Ghana Interbank Payment and Settlement Systems Limited), Glo, GoBank, Goldman Sachs, Google, GoPay, Grameenphone, GT Bank, GT&T MMG, Hand2Hand, Helios Investment Partners, HiFX, Honey, Hormud Telecom, HSBC, Huazhong University of Science and Technology, Hutch, Hyperwallet, ICICI Bank, iDEAL, IFIC Bank, IMB, IME, ING, inwi, iZettle, JazzCash, JSC Mobile Finance, KBZ Bank, Kim Phu Money Transfer, LAP GreenN (Uganda Telecom), Laurentian Bank, Leapfrog Investments, LHV Bank, Libro Credit Union, Linkaja, Luge Capital, MA Transworld, Mama Money, Marcus, Master Remit, Maxis M Money, Metro PCS, Metrobank, MetroRemit, MFS Africa, Mobilink, Monese, Monzo, Movii, Movitel, M-PAISA, M-Pitesan, MUFG Bank, Mukuru, N26, Nagarjuna University, NASDAQ, National Bank, National ITMX Ltd, New York Department of Financial Services, Nickel, Nokia, NPCI (National Payments Corporation of India), OKCoin, Omantel, ONE, Onfido, Ooredoo, Openet, Ovo, Paga, Paxos, Paykii, Payments Canada, Payquick, Paysend, Paytm, People’s Bank of China, Pertamina, Pockit, Proximus, Quickteller, Rakuten, RBC, Remitly, Reserve Bank of India, Reserve Bank of Zimbabwe, Revolut, Ria, Riaktr, Roshan, Royal Bank of Canada, Safaricom Plc, SAMA (the Saudi Arabian Monetary Authority), Santander, SBI, SBM Bank India, SCB (Siam Commercial Bank), Scotiabank, SEC (US Securities and Exchange Commission), Sendwave, Sequoia Capital, Shinhan Bank, Simility, Singaporean United Overseas Bank, Small World, Square, St. Stephen’s College, Standard Bank, Standard Chartered, Starling Bank, State Bank of India, Strex, Swift Financial, Symphoni, Tameer Bank, Tangerine Bank, TchoTcho, TCV, TD Canada Trust, Tech Mahindra, Telcel, Telecel, Telenor, Telkom, Telkom Kenya Limited, Telkomsel, Telma, Tempo, Terapay, TerraPay, Tetragon, The Clearing House Payments Company, TIO Networks, TMCEL, T-Mobile, Transfast, TransferTo, TransferWise, Travelex, True Move, TrueMoney, UBA (United Bank for Africa), UBank, Ufone, UK FCA (Financial Conduct Authority), Union Bank, UPI, USAID, Varo Money, Venmo, Viamericas, Viber, Vocalink, Vodacom, Vodafone, Volaris Group, Wallet Bank Meethaq, Walmart, Wameja, Warid Telecom, WeChat, Westpac, WhatsApp, Wirecard, WiseTech Global, Women in Payments, World Bank, XE, Yoma Bank, Zain Group, Zelle, Zenith.

 

• Mobile Domestic Money Transfer
• Mobile International Money Transfer
• Online Domestic Money Transfer
• Online International Money Transfer
• Domestic Consumer Instant Payments
• Cross-border Consumer Instant Payments

• Cash-in
• Cash-out
• Domestic Airtime Top-Up
• Domestic P2P Remittance
• Bulk Disbursement (G2P)
• International Airtime Top-Up
• International P2P Remittance

• Australia
• Brazil
• Canada
• China
• Denmark
• France
• Germany
• India
• Japan
• Kenya
• Mexico
• Netherlands
• Nigeria
• Norway
• Philippines
• Portugal
• Saudi Arabia
• South Korea
• Spain
• Sweden
• Tanzania
• UK
• US

1. International Money Transfer & Remittances

1.1 Introduction.9

1.2 Market Status .9

i. Key Remittance Corridors.9

Figure 1.1: Highest Remittance Inflows by Market ($bn), 2019 .10

Figure 1.2: Highest Remittance Outflows by Market ($bn), 2019.10

Figure 1.3: World Bank Remittance Outlook, 2020 ($bn) .11

1.2.2 The Impact of the COVID-19 Pandemic.11

i. The Rise of Digital Payments.12

ii. The Impact on Economies.12

iii. The Growth of Mobile Remittances .12

iv. Ease of Communication.13

1.2.3 Key Markets & Regions.13

i. Far East & Asia Pacific .13

Figure 1.4: Top Remittance Recipients in the Far East & Asia Pacific Region 

($bn), 2019.14

ii. Europe & Central Asia.14

Figure 1.5: Top Remittance Recipients in the Europe & Central Asia Region ($bn), 

2019.14

iii. Indian Subcontinent .14

Figure 1.6: Top Remittance Recipients in the South Asia Region ($bn), 2019 .15

iv. Latin America & the Caribbean.15

Figure 1.7: Top Remittance Recipients in the Latin America & Caribbean Region

($bn), 2019.16

v. Africa & Middle East .16

Figure 1.8: Top Remittance Recipients in the Africa & Middle East Region ($bn), 

2019 . 16

1.3 International Remittances: Key Trends.16

1.3.1 Remittance Costs .17

Figure 1.9: Global Average Cost of Sending $200 (%), 2017-2020 . 17

Figure 1.10: Average Cost of Remittances (%), by Region, Q4 2020 . 18

1.3.2 Key Developments: Instant Payments .18

i. Real-time Payments. 19

ii. SWIFT gpi . 20

iii. Blockchain. 22

iv. Threats From Instant Payments to Cross-border Money Transfer Models . 24

1.3.3 Other Key Developments.24

1.4 Market Outlook - Cross-border Remittances .25

i. Acquisitions and Consolidation. 25

ii. Instant Payments Will Gain Traction - but Not Yet . 25

iii. COVID-19: Market Recovery . 25

2. Domestic Money Transfer & Mobile Money

2.1 Introduction.27

2.2 Market Status .27

2.2.1 Mobile Money: Market Status .27

Figure 2.1: Mobile Money Transfer Capabilities . 27

Figure 2.2: Key Global Statistics . 28

Figure 2.3: Number of Live Mobile Money Services by Region, 2012-2019. 29

2.2.2 P2P Apps: Market Status .29

2.2.3 Key Developments.30

2.2.4 Impact of the COVID-19 Pandemic.30

Figure 2.4: COVID-19 Mobile Money Regulatory Response Type Across 32 

Low- and Medium-income Countries .32

2.3 Domestic Money Transfer: Key Trends .32

2.3.1 Instant Payments .32

i. Challenges to Instant Payments.33

2.3.2 CBDC (Central Bank Digital Currency) .33

2.3.3 The Growing Interoperability of Mobile Money Solutions .34

2.3.4 Social Payments .35

2.3.5 QR Code Payments.35

2.4 Market Outlook.36

2.4.1 Emerging Markets: The Shift Towards a PaaP Approach.36

2.4.2 Developed Markets: Digital-only Banks as Competition to 

Mobile Money Services? .37

3. Juniper Research Leaderboards: Introduction

3.1.1 Leaderboard Groupings.39

3.1.2 Limitations & Interpretation.39

4. Juniper Research Leaderboard: International Remittance Providers

4.1 Juniper Research Leaderboard: International Remittance 

Providers .42

4.1.1 Introduction and Methodology .42

4.2 Vendor Analysis.42

4.2.1 Vendor Assessment Criteria .42

4.3 Juniper Research Leaderboard: International Remittance 

Providers .43

Figure 4.1: International Remittance Provider Capability Assessment Criteria. 43

Figure 4.2: Juniper Research Leaderboard: International Remittance Providers 44

Figure 4.3: International Remittance Providers Leaderboard Scoring Heatmap. 45

4.4 Vendor Profiles: International Remittance Providers .46

4.4.1 Azimo.46

Figure 4.4: Azimo Capabilities. 46

i. Juniper Research’s View. 47

4.4.2 Currencies Direct.47

Figure 4.5: Currencies Direct Capabilities . 47

i. Juniper Research’s View. 47

4.4.3 CurrencyFair .48

Figure 4.6: CurrencyFair Capabilities . 48

i. Juniper Research’s View. 48

4.4.4 FairFX .49

Figure 4.7: FairFX Capabilities. 49

i. Juniper Research’s View. 49

4.4.5 InstaReM.49

Figure 4.8: InstaReM Capabilities . 49

i. Juniper Research’s View. 50

4.4.6 moneycorp .50

Figure 4.9: moneycorp Capabilities . 50

i. Juniper Research’s View. 50

4.4.7 MoneyGram.51

Figure 4.10: MoneyGram Capabilities.51

i. Juniper Research’s View .52

4.4.8 OFX.52

Figure 4.11: OFX Capabilities.52

i. Juniper Research’s View .52

4.4.9 Remitly.53

Figure 4.12: Remitly Capabilities .53

i. Juniper Research’s View .53

4.4.10 Ria .53

Figure 4.13: Ria Capabilities.53

i. Juniper Research’s View .54

4.4.11 Western Union.54

Figure 4.14: Western Union Capabilities.54

i. Juniper Research’s View .55

4.4.12 Wise.55

Figure 4.15: Wise Capabilities .55

i. Juniper Research’s View .56

4.4.13 WorldRemit.56

Figure 4.16: WorldRemit Capabilities.56

i. Juniper Research’s View .57

4.4.14 Xoom.57

Figure 4.17: Xoom Capabilities.57

i. Juniper Research’s View .57

5. Juniper Research Leaderboard: Mobile Money Transfer Providers

5.1 Juniper Research Leaderboard: Mobile Money Transfer 

Providers .59

5.1.1 Introduction and Methodology.59

5.2 Vendor Analysis .59

5.2.1 Vendor Assessment Criteria .59

Figure 5.1: Mobile Money Transfer Provider Capability Assessment Criteria. 60

Figure 5.2: Juniper Research Leaderboard: Mobile Money Transfer Providers . 61

Figure 5.3: Mobile Money Transfer Leaderboard Scoring Heatmap. 62

5.3 Vendor Profiles: Mobile Money Transfer Providers .63

5.3.1 Airtel Money .63

Figure 5.4: Airtel Money Capabilities. 63

i. Juniper Research’s View. 63

5.3.2 bKash.64

Figure 5.5: bKash Capabilities . 64

i. Juniper Research’s View. 64

5.3.3 Easypaisa .64

Figure 5.6: Easypaisa Capabilities . 64

i. Juniper Research’s View. 65

5.3.4 EcoCash .65

Figure 5.7: EcoCash Capabilities . 65

i. Juniper Research’s View. 65

5.3.5 Equitel.66

Figure 5.8: Equitel Capabilities. 66

i. Juniper Research’s View. 66

5.3.6 eZ Cash.66

Figure 5.9: eZ Cash Capabilities . 66

. Juniper Research’s View .67

5.3.7 LinkAja.67

Figure 5.10: LinkAja Capabilities .67

i. Juniper Research’s View .68

5.3.8 MonCash.68

Figure 5.11: MonCash Capabilities.68

i. Juniper Research’s View .68

5.3.9 M-PESA.69

Figure 5.12: M-PESA Capabilities.69

i. Juniper Research’s View .70

5.3.10 MTN Mobile Money .70

Figure 5.13: MTN Mobile Money Capabilities.70

i. Juniper Research’s View .70

5.3.11 Orange Money.71

Figure 5.14: Orange Money Capabilities.71

i. Juniper Research’s View .71

5.3.12 Tigo .71

Figure 5.15: Tigo Capabilities .71

i. Juniper Research’s View .72

5.3.13 Transfer.72

Figure 5.16: Transfer Capabilities.72

i. Juniper Research’s View .72

5.3.14 UPaisa.72

Figure 5.17: UPaisa Capabilities.72

i. Juniper Research’s View .73

5.3.15 Wave Money .73

Figure 5.18: Wave Money Capabilities. 73

i. Juniper Research’s View. 74

6. Juniper Research Leaderboard: Money Transfer Platform Providers

6.1 Juniper Research Leaderboard: Money Transfer Platform 

Providers .76

6.1.1 Introduction and Methodology.76

6.2 Vendor Analysis .76

6.2.1 Vendor Assessment Criteria .76

Figure 6.1: Digital Money Transfer & Remittances Platform Vendor Assessment 

Criteria. 77

Figure 6.2: Juniper Research Leaderboard: Digital Money Transfer & Remittances 

Platform Providers . 78

Figure 6.3: Digital Money Transfer & Remittances Platform Vendors Leaderboard 

Scoring Heatmap . 79

6.3 Money Transfer Platform Provider Movers & Shakers .80

6.4 Vendor Profiles .82

6.4.1 Amdocs .82

i. Corporate. 82

Table 6.4: Amdocs Financial Performance Snapshot ($m), 2016-2018 . 82

ii. Geographic Spread . 82

iii. Key Clients & Strategic Partnerships . 82

iv. High-level View of Offerings . 83

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities . 83

6.4.2 Comviva.84

i. Corporate. 84

Figure 6.5: Comviva Financial Results, 2016-2020 ($).84

ii. Geographic Spread.84

iii. Key Clients & Strategic Partnerships .84

iv. High-level View of Offerings .85

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities.85

6.4.3 FinCode.86

i. Corporate .86

ii. Geographic Spread.86

iii. Key Clients & Strategic Partnerships .86

iv. High-level View of Offerings .86

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities.87

6.4.4 Huawei .87

i. Corporate .87

Figure 6.6: Huawei Financial Performance Snapshot ($bn) 2015-2019.87

ii. Geographic Spread.88

iii. Key Clients & Strategic Partnerships .88

iv. High-level View of Offerings .88

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities.89

6.4.5 Infosys EdgeVerve.89

i. Corporate .89

Figure 6.7: Infosys EdgeVerve Financial Performance (Financial Services 

Segment) 2019-2020 ($m).89

ii. Geographic Spread.90

iii. Key Clients & Strategic Partnerships .90

iv. High-level View of Offerings . 90

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities . 91

6.4.6 Interac.91

i. Corporate. 91

ii. Geographic Spread . 91

iii. Key Clients & Strategic Partnerships . 91

iv. High-level View of Offerings . 92

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities . 93

6.4.7 Mastercard .93

i. Corporate. 93

Mastercard’s financial results between 2016 and 2019 are shown below: . 93

Table 6.8: Mastercard Financial Performance Snapshot ($m), 2016-2018 . 93

ii. Geographic Spread . 93

iii. Key Clients & Strategic Partnerships . 94

iv. High-level View of Offerings . 94

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities . 95

6.4.8 OBOPAY.95

i. Corporate. 95

ii. Geographic Spread . 95

iii. Key Clients & Strategic Partnerships . 95

iv. High-level View of Offerings . 95

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities . 96

6.4.9 PayPal.96

Figure 6.9: PayPal Financial Snapshot ($bn), 2016-2020 .96

i. Geographic Spread.97

ii. Key Clients & Strategic Partnerships.97

iii. High-level View of Offerings .97

iv. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities.98

6.4.10 RemitONE .98

i. Corporate .98

ii. Geographic Spread.99

iii. Key Clients & Strategic Partnerships.99

iv. High-level View of Offerings .99

Figure 6.10: Money Transfer Platform .99

v. Juniper Research’s View: Key Strengths and Strategic Development 

Opportunities.100

6.4.11 Ripple.100

i. Corporate .100

ii. Geographic Spread.101

iii. Key Clients & Strategic Partnerships .101

iv. High-level View of Offerings .101

v. Juniper Research’s View: Key Strengths and Strategic Development 

Opportunities.102

6.4.12 Seamless Distribution Systems .102

i. Corporate .102

Table 6.11: Seamless Distribution Systems Financial Performance Snapshot 

($m), FY 2016-2019 .102

ii. Geographic Spread.102

iii. Key Clients & Strategic Partnerships .102

iv. High-level View of Offerings . 103

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities . 103

6.4.13 Telepin Software.103

i. Corporate. 103

ii. Geographic Spread . 104

iii. Key Clients & Strategic Partnerships . 104

iv. High-level View of Offerings . 104

v. Juniper Research’s View: Key Strengths and Strategic Development 

Opportunities . 105

6.4.14 Thunes.105

i. Corporate. 105

ii. Geographic Spread . 105

iii. Key Clients & Strategic Partnerships . 105

iv. High-level View of Offerings . 106

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities . 106

6.4.15 Visa .106

i. Corporate. 106

Table 6.12: Visa Financial Performance Snapshot ($m), 2016-2020 (FYE 30 

September). 107

ii. Geographic Spread . 107

iii. Key Clients & Strategic Partnerships . 107

iv. High-level View of Offerings . 107

Figure 6.13: Visa Direct Funds Transfer API Snapshot . 108

v. Juniper Research’s View: Key Strengths & Strategic Development 

Opportunities . 108

6.5 Endnotes .109

 

1. Understanding the Mobile Money Transfer Market

1.1 Money Transfer & Remittances: Current Market Status .4

i. Key Remittance Corridors.4

Figure 1.1: Highest Remittance Inflows by Market ($bn), 2019 .4

Figure 1.2: Highest Remittance Outflows by Market ($bn), 2019.4

Figure 1.3: World Bank Remittance Outlook ($bn), 2020 .5

1.1.2 Mobile Money: Market Status & Outlook .6

Figure 1.4: Key Global Statistics.6

Figure 1.5: Number of Live Mobile Money Services by Region, 2012-2019 .7

1.1.3 P2P Apps: Market Status .7

1.2 Market Sizing: Introduction.8

1.2.1 Methodology & Market Sizing.8

1.2.2 Indicators.9

Figure 1.6: Money Transfer & Remittances Market Forecast Methodology .11

2. Money Transfer & Remittances: Forecast Summary

2.1 Digital Money Transfer & Remittances Usage Forecasts .13

2.1.1 Mobile & Online Digital Money Transfer Active Users .13

Figure & Table 2.1: Total Number of Active Digital Money Transfer Users (m), 

Split by 8 Key Regions 2020-2025.13

2.2 Money Transfer & Remittances: Transaction Forecast Summary

.14

2.2.1 Mobile & Online Money Transfer & Remittances: Total 

Transaction Volume.14

Figure & Table 2.2: Total Money Transfer & Remittance Transactions per annum 

(m), Split by 8 Key Regions, 2020-2025. 14

2.2.2 Mobile & Online Money Transfer & Remittances: Total 

Transaction Value.15

Figure & Table 2.3: Total Value of All Mobile & Online Money Transfers per 

annum ($m), Split by 8 Key Regions, 2020-2025 . 15

2.3 Money Transfer & Remittances: Service Provider Revenue 

Opportunity .16

Figure & Table 2.4: Service Provider Revenue Opportunity from Money Transfer 

& Remittance Services ($m), Split by 8 Key Regions, 2020-2025. 16

3. Domestic Money Transfer: Market Forecasts & Key Takeaways

3.1 Introduction.18

3.2 Domestic Money Transfer Usage Forecasts.18

3.2.1 Domestic Money Transfer Active Users.19

Figure & Table 3.1: Mobile & Online Domestic Money Transfer, Active Users (m), 

Split by 8 Key Regions, 2020-2025 . 19

3.3 Domestic Money Transfer: Transaction Forecast Summary.20

3.3.1 Domestic Money Transfer: Total Transaction Volumes .20

Figure & Table 3.2: Total Number of Mobile & Online Domestic Money Transfer 

Transactions per annum (m), Split by 8 Key Regions, 2020-2025 . 20

3.3.2 Domestic Money Transfer: Total Transaction Values.21

Figure & Table 3.3: Total Value of Mobile & Online Domestic Transactions per 

annum ($m), Split by 8 Key Regions, 2020-2025 . 21

3.4 Domestic Money Transfer: Service Provider Revenue 

Opportunity .22

Figure & Table 3.4: Service Provider Domestic Money Transfer Revenue ($m), 

Split by 8 Key Regions, 2020-2025 . 22

4. International Money Transfer & Remittances: Market Forecasts & Key Takeaways

4.1 International Money Transfer Usage Forecasts.24

4.1.1 International Money Transfer Active Users.24

Figure & Table 4.1: Mobile & Online International Money Transfer, Active Users 

(m), Split by 8 Key Regions, 2020-2025.24

4.2 International Money Transfer Transaction Forecast Summary.25

4.2.1 International Money Transfer: Total Transaction Volume .25

Figure & Table 4.2: Total Number of Mobile & Online International Money 

Transfer Transactions per annum (m), Split by 8 Key Regions, 2020-2025.25

4.2.2 International Money Transfer: Total Transaction Value.26

Figure & Table 4.3: Total Value of Mobile & Online International Transactions per 

annum ($m), Split by 8 Key Regions, 2020-2025.26

4.2.3 International Money Transfer: Service Provider Revenue 

Opportunity .27

Figure & Table 4.4: Service Provider Revenue Opportunity from International 

Mobile & Online Remittance ($m), Split by 8 Key Regions, 2020-2025 .27

Figure & Table 4.5: International Money Transfer & Remittance Commission 

Rates (%), Split by 8 Key Regions, 2020-2025 .28

5. Consumer Instant Payments: Market Forecasts & Key Takeaways

5.1 Introduction.30

5.2 Methodology & Assumptions .30

Figure 5.1: Consumer Instant Payments Methodology.31

5.3 Consumer Instant Payments Forecast .32

5.3.1 Value of Domestic Consumer Instant Payments .32

Figure & Table 5.2: Total Value of Instant Payments Domestic Consumer 

Transactions ($bn), Split by 8 Key Regions, 2020-2025.32

5.3.2 Value of Cross-border Consumer Instant Payments .33

Figure & Table 5.3: Total Value of Instant Payments Cross-border Consumer 

Transactions ($bn), Split by 8 Key Regions, 2020-2025. 33

5.3.3 Value of Consumer Instant Payments .34

Figure & Table 5.4: Total Value of Instant Payments Consumer Transactions 

($bn), Split by 8 Key Regions, 2020-2025 . 34