In an increasingly interconnected world, the way we send and receive money across borders has evolved significantly. Digital remittance services have emerged as a key player in the financial industry, providing individuals and businesses with efficient, cost-effective, and secure methods for international money transfers. This article explores the dynamic landscape of the digital remittance market and its impact on global finance.The global digital remittance market was valued at $19 billion in 2022, and is projected to reach $83.6 billion by 2032, growing at a CAGR of 16.3% from 2023 to 2032.
The Digital Remittance Landscape:
Digital remittance services have disrupted the traditional remittance market, offering users a faster and more convenient way to send money to loved ones or conduct cross-border transactions. These services leverage technology, mobile apps, and online platforms to streamline the remittance process, reducing both time and costs associated with traditional methods.
Advantages of Digital Remittances:
Digital remittance platforms offer a host of advantages for both senders and recipients. This section delves into the key benefits, including enhanced security measures, rapid transfer times, and cost savings through competitive exchange rates and lower fees.
Blockchain's Influence:
Blockchain technology is making waves in the digital remittance market by providing increased transparency, security, and traceability to transactions. This title explores the impact of blockchain on remittance services and how it is driving innovation and efficiency in cross-border money transfers.
The Future Outlook:
The digital remittance market continues to evolve, driven by technological advancements, changing consumer preferences, and global economic shifts. This title discusses the future trends and predictions for the digital remittance industry, including the potential for increased financial inclusion and further disruption of traditional banking systems.
Global fintech platform Nium announced its latest fundraise today.
Visa, the world’s leader in digital payments, participated in the round along with existing investors.
Another new investor to join the fold was BRI Ventures, the Corporate Venture arm of Bank BRI of Indonesia.The funding announcement comes on the heels of major wins for Nium in 2020, some of which were:Winning the account of a large European marketplace payment provider to process a billion Euros annuallyWinning a large international bid for one of the world’s biggest maritime businesses to process crew payments via cards and collections for vessel managementWorking with a prominent Asian Neobank to help them expand overseas by providing international collectionsSupporting the development of a migrant bank in the US through integration of Nium’s Banking-as-a-Service stackNium has carved a niche for itself and its diversified suite of offerings, with clients often approaching them to solve problems at the cross section of Send, Spend and Receive.
As part of their own consumer and SME remittance offering (InstaReM) and remittance-as-a-service capabilities, Nium now reaches millions of customers across 10 licensed jurisdictions[1] with Japan and Indonesia being the latest additions.
On the enterprise front, they serve clients across six continents.
Through a fully micro-service driven model, Nium solves inefficiencies that plague traditional payment processes across industries like eCommerce, large corporates to SMEs, from services such as payroll disbursement to travel & expenses management etc.“I am thrilled to announce that we have closed another round of funding and added two more prestigious investors to our cap table.
Remittance Market OverviewAccording to the newly published report by Reports and Data, the Remittance Market report presents an extensive overview of the industry scenario and gives insights into the growth opportunities in the industry during the forecast timeline of 2020-2027.
The Remittance industry has a broad spectrum of applications and has an extensive product portfolio.
The report assesses comprehensive data to generate a total impact analysis of the pandemic and offers a futuristic outlook to offer a general idea of the current market scenario and economic landscape.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1007The report further offers radical data about the intense competitive landscape along with a comprehensive analysis of the key players and the strategies schemes they employ.
Along with this, the report also covers the technological developments and product advancements of the prominent players.The report covers extensive profiling of the leading competitors, including:MoneyGram International Inc.Euronet Worldwide Inc.Western Union Holdings Inc.Societe GeneraleThe Kroger Co.Banco Bradesco SAABSAS.
The regional analysis covers the assessment of the production and consumption rate, import/export, supply and demand ratio, market share, market size, revenue contribution, current and emerging trends, and the existence of the key players of the Remittance market in each region.
Furthermore, the report also covers the country-wise analysis of the Remittance market.Request discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1007The Remittance market is further segmented on the basis of product types offered by the market and the application spectrum.Remittance Market Segmentation by Type:Money Transfer AppBank Money Transfer ServicesOthersRemittance Market Segmentation by Application:Business RemittancesPersonal RemittancesPublic ServicesKey Regions Assessed in the Report Include:North America (U.S., Canada)Europe (U.K., Italy, Germany, France, Rest of EU)Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)Latin America (Chile, Brazil, Argentina, Rest of Latin America)Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)The Remittance report is formulated through extensive primary and secondary research and further validated through industry experts and professionals.
Remittance Market OverviewAccording to the newly published report by Reports and Data, the Remittance Market report presents an extensive overview of the industry scenario and gives insights into the growth opportunities in the industry during the forecast timeline of 2020-2027.
The Remittance industry has a broad spectrum of applications and has an extensive product portfolio.
The report assesses comprehensive data to generate a total impact analysis of the pandemic and offers a futuristic outlook to offer a general idea of the current market scenario and economic landscape.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1007The report further offers radical data about the intense competitive landscape along with a comprehensive analysis of the key players and the strategies schemes they employ.
Along with this, the report also covers the technological developments and product advancements of the prominent players.The report covers extensive profiling of the leading competitors, including:MoneyGram International Inc.Euronet Worldwide Inc.Western Union Holdings Inc.Societe GeneraleThe Kroger Co.Banco Bradesco SAABSAS.
The regional analysis covers the assessment of the production and consumption rate, import/export, supply and demand ratio, market share, market size, revenue contribution, current and emerging trends, and the existence of the key players of the Remittance market in each region.
Furthermore, the report also covers the country-wise analysis of the Remittance market.Request discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1007The Remittance market is further segmented on the basis of product types offered by the market and the application spectrum.Remittance Market Segmentation by Type:Money Transfer AppBank Money Transfer ServicesOthersRemittance Market Segmentation by Application:Business RemittancesPersonal RemittancesPublic ServicesKey Regions Assessed in the Report Include:North America (U.S., Canada)Europe (U.K., Italy, Germany, France, Rest of EU)Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)Latin America (Chile, Brazil, Argentina, Rest of Latin America)Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)The Remittance report is formulated through extensive primary and secondary research and further validated through industry experts and professionals.
The global Remittance Market report published by Reports and Data offers a precise and detailed analysis of the market share and market size on a global and regional level.
The report also studies the value chain, recent product developments, and the emergence of lucrative growth opportunities in the market.
It aims to provide accurate estimation and forecast for market growth and segmentation for the forecast period of 2020-2027.
Get a Sample Report PDF with Detail TOC & List of Figures@ https://www.reportsanddata.com/sample-enquiry-form/1007Leading Players Profiled in the Report Include:MoneyGram International Inc.Euronet Worldwide Inc.Western Union Holdings Inc.Societe GeneraleThe Kroger Co.Banco Bradesco SAABSABankScotiabankUBAThe report covers a comprehensive analysis of the impact of the COVID-19 pandemic on the global market.
The pandemic has adversely impacted the businesses and industries due to stringent government policies on social restrictions, transportation bans, and disruption in production and product supply chains.
The report provides a comprehensive analysis of the pandemic’s impact on the global market and offers key insights into ways to circumvent the negative effect of the pandemic.Market Segmentation: The global Remittance market report covers a detailed analysis of the market segmentation to provide key insights into the scope of the market expansion.
