Summary
TransferWise is a global cross-border money transfer solution. Founded in the UK in March 2010, the solution now enables users to send money globally in more than 50 currencies to recipients’ bank accounts.
TransferWise operates on a peer-to-peer (P2P) money transfer model with a network of international accounts around the world. Instead of transferring the sender's money directly to the recipient in a foreign country, TransferWise redirects them to the recipient of another transfer going in the opposite direction, thereby eliminating the need for currency conversion and for funds to actually cross borders. This means TransferWise can offer lower transaction fees than its competitors.
To diversify its portfolio, TransferWise introduced the multi-currency Borderless account for businesses in May 2017 and later extended it to individual customers. Account holders are offered a Mastercard-branded contactless debit card that can be used for in-store and online payments as well as cash withdrawals at ATMs in multiple currencies.
The report provides information and insights into alternative payment solution TransferWise, including:
- - Detailed insight into its business and geographical presence
- - Comprehensive coverage of its products and services
- - Comparative assessment with key alternative payment solutions
- - Information on its performance, including its revenue model
- - The company's important events and milestones
Scope
- - In March 2010, TransferWise was founded in the UK.
- - TransferWise operates on a P2P money transfer model with a network of international accounts around the world.
- - TransferWise enables users to send or receive money in 47 currencies through their online website and mobile app.
- - In August 2019, TransferWise launched TransferWise Platinum Mastercard debit cards for individuals and businesses in New Zealand and Australia.
Reasons to buy
- - Gain insights into TransferWise's business operations, and key events.
- - Gain insights into its product portfolio and revenue model.
- - Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Table of content
Table of Contents
Overview
Historic Milestones
Benchmarking
Performance Highlights
Revenue Model
How Does It Work?
Products & Services
Significant Events
Appendix
CONTACT US:
North Main Road Koregaon Park, Pune, India - 411001.
International: +1(646)-781-7170
Asia: +91 9169162030
Email: [email protected]
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Global investments company D1 Capital Partners L.P (D1) based out of the US, has announced that the firm has bought a stake in one of the leading British fintech firms – online money transfer financial service provider Transferwise.The fintech news space notes that D1 has purchased a $200 million stake in the fintech solutions star, Transferwise as a part of a secondary share sale in the previous week, that witnessed the value of the startup rise up to $5billion.
This soar was a $1.5 billion increase last year on this time and was around equal to £4 billion.Both these firms are fresh faces in the industry.Nine years ago, Taavet Hinrikus and Kristo Käärmann had set up Transferwise.
Kristo was an Estonian financial consultant and Taavet, a former Skype employee.
Together they set up Transferwise as a fintech solution to solve the problem of international money transfer.
Since then, the firm has grown to be an offeror of more than 750 currency routes and also reached a respectable net profit of $8 billion in the year of 2018, as stated by Forbes.D1, the US hedge fund is relatively new and is getting started after its launch in 2018 by Daniel Sundheim, a Wall Street investor who formerly stood at the helm of Viking Global Investors, a hedge fund based out of Connecticut until 2017.
The budding company was deemed as ‘one of the hottest new hedge funds’ in the industry by Business Insider, last year.
The new report studies the Global Digital Remittance Market in detail and presents comprehensive forecasts regarding the market’s growth trajectory in the coming years.
This report studies the global Digital Remittance market, analyzes and researches the Digital Remittance development status and forecast in United States, EU, Japan, China, India and Southeast Asia.
In addition, the sources of raw materials used for manufacturing by the key manufacturers in 2019 have been detailed in this study.Major Companies Profiled in Digital Remittance Market are:Western Union (WU)InstaReMRia Financial ServicesTransferWiseWorldRemitPayPal/XoomAzimoMoneyGramTransferGoRemitlyTNG WalletSmiles Mobile RemittanceOrbitRemitAvenues India Pvt LtdToast MeThe cost analysis of the Global Digital Remittance market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend.
Other factors such as industrial chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market.
Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration.Buy Digital Remittance Market Report at Discount: https://www.orbisresearch.com/contact/purchase-single-user/4196538All the way through this report, the core dynamic factors of the Digital Remittance market were acknowledged and the commercial partners, end users were also worked out.
Abundant interviews and talks were conducted with the protuberant leaders of the industry to gain dependable and reorganized information relevant to the market.Global Digital Remittance Market is segmented based by Type, Application and Region.Based on Type, the Market has been segmented into:Banks Digital RemittanceDigital Money Transfer OperatorsThe segment of digital money transfer holds a comparatively larger share in global market, which accounts for about 86%.Based on Application, the Market has been segmented into:Migrant Labor WorkforceStudy Abroad and TravelSmall BusinessesOtherThe migrant labor workforce holds an important share in terms of applications, and accounts for 67% of the market share.Ask Our Industry Expert: https://www.orbisresearch.com/contacts/enquiry-before-buying/4196538Table of Content (TOC):Market Overview: The report begins with this section where product overview and highlights of product and application segments of the global Digital Remittance Market are provided.
The advancement of technology has enabled various financial institutions to provide a high standard of service in all aspect of banking and financial services.
Customers can use either internet banking or mobile banking to fulfill their banking requirements.
Customers now have access to multiple online fund transfer options like asRia Money Transfer, TransferWise, Payoneer, Western Union, WorldRemit, Money mule, Timeline of PayPal, WebMoney, Moneygram, Electronic funds transfer, Interac e-Transfer, Revolution Money, etc.
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