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Home > Business/Finance > Financial Services > Banking
Global Consumer Money Transfer Market
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| Published Date:
May 2004
Published By:
Datamonitor
Page Count:
65
Order Code:
R313-6677
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Introduction
The Global Consumer Money Transfer Market has been growing steadily throughout the years. However, an upsurge in labor migration has further impacted on the market and opened the door to new opportunities. New providers are entering the market and new money transfer services are emerging. In what direction will the market move in the next four years? This briefing provides the answers.
Scope
This briefing focuses on person-to-person international money transfer transactions.
It concentrates on formal money transfer instruments.
It looks at inter-regional transfers only. Intra-regional transfers are excluded.
It provides a four-year forecast on the size of the formal global consumer money transfer market.
Highlights
In May 2004, ten countries from Central and Eastern Europe will join the EU. Many will not be granted 'freedom of movement of persons' for work purposes immediately. However, it is expected that after the end of the transition period workers from these new EU-countries will positively impact on the migrant population in the other EU-countries.
PayPal is still a mainly US focused solution. The company is based in California, the vast majority of its customers can be found in the US and while individuals in almost 40 countries can open a PayPal account in many countries, many users cannot withdraw funds to a bank account.
Yahoo! PayDirect has been in existence for several years but was never the first choice for online person-to-person payments. PayPal is by far the leader. Although Yahoo! PayDirect International offers extra features over PayPal, there is the issue whether Yahoo! brand is strong enough to convince customers to transfer significant sum of money.
Reasons to Purchase
It provides you with a thorough understanding of how the market works.
It gives you an insight in the future direction of the market and hence assists you in designing your strategic planning.
It gives you information on the size of the flow of remittances between regions and helps you determine where the opportunities lie.
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