MTOs tapping into the massive transaction volume at stake in key regions face a number of hurdles.
Boston, April 16, 2014 – Money transfer organizations operate in an increasingly cutthroat industry, where nominal growth in worldwide remittances strains to compensate for challenges in cross-border consumer money transfers. While growth rates in cross-border remittances are poised to pick up slightly over the next three years, downward pricing trends and local competition may impact money transfer organizations' bottom line. In this competitive landscape, opportunities to grow market share are sizable, but an understanding of the current trends is essential.
In this Impact Note, Aite Group discusses global and regional trends in the cross-border consumer money transfer market, reveals the top countries by inbound remittances, forecasts volume globally and by region, and discusses remittance pricing by channel and country.
This 18-page Impact Note contains 15 figures and four tables. Clients of Aite Group's Retail Banking & Payments service can download this report.