#Digital Remittance Market Size

[researchinsights]

The global digital remittance market is projected to reach USD 16,953.5 million in 2023, registering a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period 2024-2030. The growth of the market is majorly driven by the rising focus on digital remittance due to rapid digitalization.

[paynxt360fintech]

Google and Amazon stand to gain from Meta’s social commerce exit

Ever since the pandemic outbreak, the e-commerce industry landscape has undergone a major revamp, with social commerce emerging as the next growth driver for the global market. Players such as Meta, Google, and Amazon all made a major push in the segment to tap into the high-growth potential of the social commerce industry. According to PayNXT360 estimates, the global social commerce market is expected to grow at a compound annual growth rate of 12.7% from 2022 to 2028. The global social commerce GMV will increase from US$661 billion in 2023 to reach US$1.3 trillion by 2028.

[timesofinnovation]

In a bold initiative aimed at enhancing the financial landscape of Pakistan, Visa has set its sights on exponentially increasing the acceptance of digital payments within the country. This strategic plan, articulated by Visa's general manager for Pakistan, North Africa, and Levant, Leila Serhan, seeks a tenfold expansion over the next three years through a partnership with 1Link, the largest payment service provider in Pakistan. This collaborative effort is not just about technology; it aims to empower businesses, streamlining transactions, and improving financial inclusivity for a large segment of the population. Pakistan is at a critical juncture, grappling with a significant challenge in its banking landscape. Despite a population of approximately 240 million, only 60% of the 137 million adults have access to banking services. This presents both a challenge and an opportunity for Visa and its partners. With the introduction of innovative solutions such as turning smartphones into payment devices and the integration of widely accepted payment methods like QR codes and contactless card tapping, the potential for transforming the payments ecosystem in Pakistan is immense. To achieve these ambitious goals, Visa plans to invest heavily in developing digital payment infrastructure. This investment not only focuses on making digital transactions more affordable and user-friendly but also addresses the needs of smaller merchants who often struggle with high transaction fees and complex setups. By lowering barriers to entry for digital payments, Visa aims to encourage widespread adoption among businesses of all sizes. The partnership with 1Link is particularly critical in enhancing the remittance process, which plays a vital role in Pakistan’s economy. With remittances contributing significantly to the nation’s GDP, improving the mechanisms for these transactions can have far-reaching effects. The collaboration involves allowing 1Link's PayPak cards to be utilized on Visa’s online platforms, offering customers more choices and simplified processes. This strategic move is noteworthy as it signifies a cooperative approach between two competitors working towards a common goal of financial inclusion. Moreover, this initiative aligns with Pakistan’s ongoing economic reforms, particularly following the $7 billion bailout from the International Monetary Fund (IMF). In an environment where digital payments are becoming increasingly central to economic recovery and growth, Visa's commitment to supporting these reforms showcases the company’s foresight in recognizing the importance of digital payments in modern economies. Visa’s strategy is underpinned by a deep understanding of the current market dynamics in Pakistan. The company is not merely pushing technology for technology's sake; instead, it is tailoring its offerings to meet the specific needs of the Pakistani consumer and business owner. For instance, the ability to facilitate various payment methods through established networks and technological innovations is critical in a country where many people remain unbanked. The integration of digital payment solutions can also help ensure that businesses operate more efficiently. With mobile payment options becoming more popular, particularly in urban areas, businesses that adopt these technologies stand to benefit significantly. Not only do they gain access to a broader customer base, but they also enhance their operational efficiencies through automated processes that reduce cash handling and the associated risks. As Visa moves forward with this initiative, it hopes to foster a more secure payment environment. Enhanced security features that accompany digital transactions can help build trust among users, encouraging them to switch from cash to digital solutions. The cooperation with 1Link adds an extra layer of reliability to this goal, as both entities are focused on ensuring that transactions remain secure and compliant with international standards.

Digital transformation is not just about improving processes; it's about creating a more inclusive financial system that can benefit everyone, especially those who have previously been left out. Visa's significant investment in infrastructure, combined with innovative solutions, has the potential to reshape the financial landscape in Pakistan in ways that benefit consumers and businesses alike. In conclusion, Visa's partnership with 1Link marks a pivotal moment for digital payments in Pakistan. As the country stands on the brink of a technological revolution in finance, it is essential to support this transition effectively. The ambitious plan to expand digital payment acceptance is not just about Visa; it’s about empowering millions of Pakistanis and positioning the economy for sustainable growth in the years to come.

[sudeepkedar]

Open Banking Market is Predicted to Grow At More Than 22% CAGR till 2032

Open Banking Market size is estimated to be valued at USD 130.2 Bn till 2032. The rising integration with digital currency platforms to enable seamless transactions between fiat currencies and cryptocurrencies will influence the industry growth. The implementation of robust security measures, such as encryption, multi-factor authentication, and real-time monitoring, has grown critical for protecting sensitive financial data in open banking. Of late, leading financial institutions and fintech firms are exploring subscription-based models for open banking services to offer premium features and value-added services through tiered pricing plans.

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Open banking market share from the digital currencies financial services segment is expected to exponentially expand between 2024 and 2032. By directly linking digital wallets to their banking systems, open banking streamlines the acceptance of digital currency payments by merchants. This integration lowers the hurdles for businesses eager to embrace cryptocurrencies. Furthermore, it enables connections with global financial institutions, simplifying cross-border transactions and allowing users to effortlessly send and receive payments in various currencies worldwide.

The on-premise deployment model segment is expected to account for considerable share of the open banking industry by 2032. Financial institutions using on-premise open banking solutions can fully control sensitive customer data. As concerns about data breaches and cyberattacks grow, numerous banks are opting to manage data in-house instead of depending on third-party cloud services. On-premise deployments further allow banks to customize their open banking infrastructure as per their specific needs. This flexibility is particularly important for large financial institutions with complex IT environments that require bespoke solutions.

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Asia Pacific open banking industry size is anticipated to reach a significant share by 2032. This is propelled by the surge in cross-border open banking services, particularly in areas, such as remittances and international payments. Countries like India, Indonesia, and Vietnam are witnessing a swift expansion of open banking. With a vast unbanked populace and a strong mobile presence, these nations present lucrative prospects for open banking solutions. The proliferation of digital payments in China and India will also influence regional market growth.

Partial chapters of report table of contents (TOC):

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Research design

1.2.1    Research approach

1.2.2    Data collection methods

1.3    Base estimates & calculations

1.3.1    Base year calculation

1.3.2    Key trends for market estimation

1.4    Forecast model

1.5    Primary research and validation

1.5.1    Primary sources

1.5.2    Data mining sources

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2021 - 2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Supplier landscape

3.2.1    API platforms and gateway providers

3.2.2    Security solutions providers

3.2.3    RegTech providers

3.2.4    End user

3.3    Profit margin analysis

3.4    Technology & innovation landscape

3.5    Patent analysis

3.6    Key news & initiatives

3.7    Regulatory landscape

3.8    Impact forces

3.8.1    Growth drivers

3.8.1.1    Increase in adoption of digital banking for convenience and accessibility

3.8.1.2    Technological advancements in big data analytics, artificial intelligence (AI), and APIs

3.8.1.3    Government initiatives and regulatory support to enhance financial transparency

3.8.1.4    Consumer demand for personalized services

3.8.2    Industry pitfalls & challenges

3.8.2.1    Security and privacy concerns

3.8.2.2    Lack of consumer trust and adoption

3.9    Growth potential analysis

3.10    Porter’s analysis

3.11    PESTEL analysis

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[marketinsight1234]

Mobile Remittance Service Market: Forthcoming Trends and Share Analysis by 2030

Global Mobile Remittance Service Market size is expected to grow from USD 22211.01 Million in 2023 to USD 85191.62 Million by 2032, at a CAGR of 16.11% during the forecast period (2024–2032)

You can use a mobile phone to send and receive money electronically with a mobile remittance service. It's an easy and accessible alternative to going in person to a bank or money transfer agency to transfer money. Bill payments and peer-to-peer transactions are made easier with the usage of mobile remittance services, which are available both domestically and internationally. They provide consumers with freedom in managing their finances by meeting the increasing demand for cross-border remittances and facilitating transactions between conventional bank accounts and mobile wallets. The market for conventional bank accounts is also present.

Financial inclusion, cost effectiveness, speed, and convenience are all provided by mobile remittance services. They enable customers to start transactions whenever and wherever they choose by doing away with the necessity for actual trips to banks or remittance centers. They are perfect for urgent financial situations because they offer transfers that happen almost instantly. Financial inclusion for individuals without simple access to traditional banking is further enhanced by the fact that digital transactions frequently have lower fees than traditional methods.

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Updated Version 2024 is available our Sample Report May Includes the:

Scope For 2024

Brief Introduction to the research report.

Table of Contents (Scope covered as a part of the study)

Top players in the market

Research framework (structure of the report)

Research methodology adopted by Worldwide Market Reports

Leading players involved in the Mobile Remittance Service Market include:

Mobetize Corp. (U.S.)

MoneyGram (U.S.)

Remitly (U.S.)

Regalii (U.S.)

Flywire (U.S.)

PayPal. (U.S.)

Ria Financial Services (U.S)

Western Union Holdings, Inc. (U.S)

Currency Cloud (UK)

Azimo (UK)

WorldRemit (UK)

TransferWise (UK) 

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. 

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Segmentation of Mobile Remittance Service Market:

By Type

Banks

Money Transfer Operators

By Application

Migrant Labor Workforce

Low-income Households

Small Businesses

An in-depth study of the Mobile Remittance Service industry for the years 2024–2032 is provided in the latest research. North America, Europe, Asia-Pacific, South America, the Middle East, and Africa are only some of the regions included in the report's segmented and regional analyses. The research also includes key insights including market trends and potential opportunities based on these major insights. All these quantitative data, such as market size and revenue forecasts, and qualitative data, such as customers' values, needs, and buying inclinations, are integral parts of any thorough market analysis.

Market Segment by Regions: -

North America (US, Canada, Mexico)

Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)

Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

South America (Brazil, Argentina, Rest of SA)

Key Benefits of Mobile Remittance Service Market Research: 

Research Report covers the Industry drivers, restraints, opportunities and challenges

Competitive landscape & strategies of leading key players

Potential & niche segments and regional analysis exhibiting promising growth covered in the study

Recent industry trends and market developments

Research provides historical, current, and projected market size & share, in terms of value

Market intelligence to enable effective decision making

Growth opportunities and trend analysis

Covid-19 Impact analysis and analysis to Mobile Remittance Service market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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[excentcapital]

Choosing the Right Cryptocurrency for Your Business: A Comprehensive Guide

In recent years, cryptocurrencies have emerged as a viable alternative to traditional forms of payment, offering businesses greater flexibility, security, and efficiency in financial transactions. With a myriad of cryptocurrencies available in the market, choosing the right one for your business can be a daunting task.

In this comprehensive guide, Excent Capital explore the factors to consider when selecting a cryptocurrency for your business and highlight some of the top contenders in the space.

Understanding Your Business Needs

Before delving into the world of cryptocurrencies, it's essential to assess your business requirements and objectives. Consider factors such as the nature of your products or services, target market, transaction volume, regulatory compliance, and risk tolerance. Understanding these factors will help you narrow down your options and choose a cryptocurrency that aligns with your business goals.

Factors to Consider When Choosing a Cryptocurrency

Security and Stability: Security is paramount when dealing with cryptocurrencies. Look for established cryptocurrencies with robust security features and a proven track record of stability. Avoid highly volatile or newly launched coins that may pose greater security risks.

Transaction Speed and Cost: The efficiency of cryptocurrency transactions can vary significantly depending on the network's scalability and transaction fees. Choose a cryptocurrency that offers fast transaction speeds and low fees to minimize costs and enhance customer satisfaction.

Market Acceptance and Liquidity: Consider the level of market acceptance and liquidity of the cryptocurrency you intend to use. Opt for cryptocurrencies with widespread adoption and ample liquidity to ensure seamless integration into your business operations and ease of conversion to fiat currency if needed.

Regulatory Compliance: Regulatory compliance is a crucial consideration, especially for businesses operating in heavily regulated industries. Ensure that the cryptocurrency you choose complies with relevant laws and regulations in your jurisdiction to avoid potential legal issues or regulatory scrutiny.

Technological Features: Assess the technological features and capabilities of the cryptocurrency, such as smart contract functionality, privacy features, scalability solutions, and interoperability with other blockchain networks. Choose a cryptocurrency that offers the features and flexibility required to meet your business needs now and in the future.

Top Cryptocurrencies for Businesses

Bitcoin (BTC): As the first and most well-known cryptocurrency, Bitcoin remains a popular choice for businesses seeking a store of value and a medium of exchange. With widespread acceptance and a large user base, Bitcoin offers liquidity and stability, making it suitable for businesses of all sizes.

Ethereum (ETH): Ethereum is a decentralized platform that enables the creation of smart contracts and decentralized applications (DApps). Businesses can leverage Ethereum's robust ecosystem to tokenize assets, automate processes, and build innovative blockchain solutions tailored to their specific requirements.

Ripple (XRP): Ripple is a digital payment protocol designed for fast, low-cost cross-border transactions. Businesses in the finance and remittance sectors can benefit from Ripple's blockchain technology to facilitate real-time settlements and reduce transaction costs associated with traditional payment systems.

Litecoin (LTC): Litecoin is a peer-to-peer cryptocurrency that shares many similarities with Bitcoin but offers faster transaction confirmation times and lower fees. Businesses looking for a faster and more cost-effective alternative to Bitcoin may find Litecoin to be a suitable option for everyday transactions.

Binance Coin (BNB): Binance Coin is the native cryptocurrency of the Binance exchange, one of the largest cryptocurrency exchanges globally. Businesses that frequently trade cryptocurrencies or participate in token sales may benefit from using Binance Coin to access discounted trading fees and other perks within the Binance ecosystem.

Conclusion

Choosing the right cryptocurrency for your business requires careful consideration of various factors, including security, transaction speed, market acceptance, regulatory compliance, and technological features.

According to Excent Capital, by understanding your business needs and evaluating the strengths and weaknesses of different cryptocurrencies, you can make an informed decision that aligns with your business objectives and sets you up for success in the evolving landscape of digital finance.

[statsresearch]

Fintech Blockchain Market Size, Share, Growth Drivers, Trends, Opportunity, Research by 2030

The Fintech Blockchain market report by stats and research is a research study that concentrates on all the key marketing variables fueling the market's growth. The market's regional and segmental sections were considered when creating the research report on the Fintech Blockchain market. The SWOT analysis, PESTEL analysis, and PORTER'S five forces analyses are all included in the report, along with all qualitative and quantitative market characteristics. The report provides a comprehensive understanding of the Fintech Blockchain market by covering the market's size, growth rates, estimates, and value predictions for the forecast period.

This report describes the global market size of Fintech Blockchain Market from 2018 to 2021 and its CAGR from 2018 to 2021, and also forecasts its market size to the end of 2030 and its expected to grow with a CAGR of 75.9% from 2023 to 2030.

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Top Key players in Fintech Blockchain Market: AWS (US), IBM (US), Microsoft (US), Ripple (US), Chain (US), Earthport (UK), Bitfury (US), BTL Group (Canada), Oracle (US), Digital Asset Holdings (US), Other Key players

By Application Payments, Clearing & Settlement Exchanges & Remittance Smart Contract Identity Management Compliance management / KYC Others

BY Organization Size Large Enterprises SME

For Discount, Click Here: https://www.statsandresearch.com/check-discount/40316-global-fintech-blockchain-market

[radgladiatorsuit]

Top Technologies Revolutionizing the Collections Industry

The digital lending sector is expected to grow from $405.11 billion in 2023 to $710.76 billion by 2028. This is not surprising, as digitization has substantially improved the borrowing process by making it more convenient and user-friendly. At the same time, financial institutions have benefitted from a wider customer base and access to valuable data.

The collections industry is not, however, free from challenges. Concerns persist related to data privacy, lack of empathy, poor visibility into customer data, low agent productivity, etc. The good news is that the latest innovations in the market have reduced these hurdles significantly.

Here are some of the top technologies revolutionizing the collection industry:

AI Bots

Many interactions between agents and customers in the collections industry involve routine tasks, such as answering common queries or offering basic information about outstanding debts. Traditionally, these tasks were handled by human agents, which could be time-consuming and resource-intensive.

Humanized collections bots, like those offered by Exotel, are designed to replicate human-like interactions while automating these routine tasks. Notably, 47% of CX leaders have embraced AI-based initiatives, often employing this technology to develop chatbots. These bots can understand and respond to borrower inquiries in a conversational manner and resolve first-level queries without making customers wait. Moreover, they can meet more queries at a relatively lower cost.

Automated Reminders

The introduction of automated reminders is revolutionizing the collection industry by addressing a common challenge both borrowers and agencies face. Borrowers often find it easy to overlook their payment deadlines or struggle to locate the appropriate payment links. This leads to potential delays or missed payments. On the other hand, manually reaching out to each borrower to provide reminders can be a cumbersome task for collection agencies.

In response to these challenges, collection agencies have adopted automated reminder systems to boost debt recovery. These reminders are customized according to the borrower’s details and loan amount. They not only serve as a nudge to prompt borrowers to make their payments but also provide custom payment links for added convenience. Agencies can significantly enhance in-moment remittances by offering borrowers hassle-free means of fulfilling their obligations and guiding them to the correct payment links.

Predictive Dialers

Traditionally, collection agents spent significant time manually dialing numbers and waiting for debtors to answer their calls. This frustrating process led to several challenges, including incorrect or outdated contact numbers, unresponsive debtors, and non-contextual interactions. Predictive dialers have emerged as a solution to these challenges by automating the dialing process.

Calls are placed from a pre-uploaded list of debtors, and the dialer ensures that the numbers are validated and accurate. As a result, agents no longer need to spend valuable time dialing numbers manually. They are seamlessly connected with debtors who answer their calls. This automation also filters out busy tones and answer machines, ensuring that agents spend more time engaging in meaningful conversations and less time navigating unproductive interactions. Agents can now achieve 4-5 hours of talk time during an 8-hour shift, a significant increase from the past.

Advanced-Data Analytics

Historically, collection agencies had to resort to a one-size-fits-all approach while devising collection strategies. This was because they lacked sufficient customer data. However, with the advent of big data and advanced analytics, agencies now possess the tools to craft more targeted outreach strategies.

For instance, based on historical data, agents can decide the best time to reach the borrowers, leading to improved call pick-up rates. Additionally, they can categorize borrowers into different risk profiles, such as hard or soft buckets. They can then choose an online or field collections strategy and promptly identify delinquent customers. Furthermore, collection agencies can evaluate agent performance and monitor real-time conversations. This critical insight helps identify training needs, track outcomes, and ensure that borrowers are assigned to the right agents based on factors like region and predefined categories.

Omnichannel Communication

Borrowers have different preferences when it comes to communication. Omnichannel communication ensures that agencies can meet borrowers on multiple communication channels. This flexibility ensures that borrowers can engage in discussions regarding their debts through the most convenient means, ultimately enhancing response rates and fostering more productive interactions.

Unsurprisingly, around 80% of customers prefer omnichannel strategies due to the seamless communication experience. What makes omnichannel particularly powerful is its ability to integrate multiple channels seamlessly. This means that if a borrower initiates contact through one channel, such as a chatbot on a website, and later decides to call the agency, the agent has access to all relevant information. This eliminates the need for redundant explanations and boosts productivity for both borrowers and agents.

Customer Relationship Management (CRM) Systems

As agencies grow in scale, the sheer volume of customer interactions can become overwhelming. Agencies can not only end up losing valuable insights but also suffer negative consequences related to agent productivity. CRM systems, powered by technological advancements, are revolutionizing the collection industry by integrating various communication channels and data sources. This has streamlined collecting, storing, and retrieving borrower information.

Collection agencies now have a comprehensive and organized platform to manage interactions with borrowers. They have 100% visibility into borrowers’ profiles, which enables highly personalized conversations. CRM integration has also improved agent productivity by automating routine tasks, like data entry and follow-up reminders.

Partner with Exotel!

As the collections industry continues to adopt the latest technologies, it stands ready to deliver improved outcomes for all stakeholders involved. For borrowers, these innovations translate into more convenient and empathetic interactions. On the agency side, the benefits are equally compelling and include increased efficiency, reduced operational costs, and better compliance with regulations.

Collaborating with experienced industry leaders like Exotel can be particularly valuable for businesses seeking to maximize these advantages. Exotel’s solutions offer a range of benefits, from extending business reach and providing multilingual support to improving promise-to-pay ratios and lowering the cost of customer coverage. Importantly, Exotel’s collection platform ensures that customers feel supported like a trusted friend. This helps build synergy between technological innovation and customer-centric solutions, benefiting everyone involved.

[paynxt360fintech]

The global gift card market continues to grow at an accelerated pace on the back of digital gift card offerings in 2023

Digitalization, tech-savvy population, and increasing trend of strategic alliances is driving the growth of the global gift card market in 2023. The growth rate is significantly higher in markets like the United States. According to a report from PayNXT360, the United States gift card market is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2023 to 2027. Based on the estimates, the industry will increase from US$185.4 billion in 2022 to reach US$247.9 billion by 2027.

[wealthview]

EbixCash IPO Date, Price, Review, Company Profile, Financials, Risk, Allotment Details 2023

New Post has been published on https://wealthview.co.in/ebixcash-ipo/

EbixCash IPO Date, Price, Review, Company Profile, Financials, Risk, Allotment Details 2023

EbixCash IPO: EbixCash is a leading Indian fintech company offering a variety of digital products and services across B2C and B2B sectors. They specialize in areas like forex, travel technology, insurance, and BPO. The Indian fintech industry is booming, driven by rapid digital adoption and the government’s push for a cashless economy.

EbixCash IPO Details:

IPO Date: While approved by SEBI, the IPO dates (open, close, and listing) are still undetermined.

Offer size: Up to Rs. 6,000 crore through a fresh issue of equity shares.

Price band: Yet to be announced.

Recent News Updates:

Anticipation and Buzz: Despite the delayed launch, the IPO is highly anticipated due to EbixCash’s strong financials, market leadership in forex and travel tech, and the overall growth potential of the fintech sector.

Ebix Inc. Bankruptcy: Concerns arose in October 2023 when EbixCash’s US parent company filed for bankruptcy. However, EbixCash emphasizes its financial independence and claims the bankruptcy won’t affect its operations.

Continued Monitoring: The market awaits details on the issue date and price band, closely watching how the bankruptcy news and other factors influence investor sentiment.

EbixCash IPO Offer Details:

Securities Offered:

The EbixCash IPO will solely offer equity shares, granting ownership stakes in the company. No bonds or other instruments will be included in this offering.

Investor Category Reservation:

Here’s how the offer size will be distributed among different investor categories:

Retail Individual Investors (RII): 35%

Qualified Institutional Buyers (QIB): 50%

Non-Institutional Investors (NII): 15%

Minimum Lot Size and Investment Amount:

Minimum Lot Size: 100 equity shares

Minimum Investment Amount: The minimum investment will depend on the final IPO price, which is yet to be announced. Based on the offer size of Rs. 6,000 crore and assuming a price band of Rs. 50-60 per share (as speculated by some analysts), the minimum investment could be roughly around Rs. 5,000-6,000.

EbixCash Company Profile:

Founded in 2002, initially known as ItzCash, before rebranding to EbixCash in 2016.

Offers a diverse range of fintech solutions across B2C and B2B sectors, including:

Forex: Leading player in India, handling remittance, currency exchange, and international money transfers.

Travel: Provides technology solutions to travel agents, tour operators, and airlines.

Insurance: Distributes a variety of insurance products and offers tech support to insurers.

BPO: Operates call centers and provides back-office services to various industries.

Extensive physical network exceeding 650,000 outlets, including 50,000 bank branches, giving it the edge over many purely digital competitors.

Strong online presence with mobile apps and an omni-channel platform supporting its services.

Market Position and Share:

Holds a leading position in the Indian forex market, handling a significant portion of remittance transactions.

Commands a dominant position in travel technology, serving many major travel companies.

Growing presence in the insurance and BPO sectors, aiming to further gain market share.

Key Brands and Partnerships:

EbixCash: Primary brand for all services offered.

Yatra Money: Popular travel money card issued by EbixCash.

Partnerships: Collaborates with major banks, airlines, insurance companies, and travel agencies.

Milestones and Achievements:

Clocked $100 million in EBITDA for FY2022-23, demonstrating consistent profitability.

Won several prestigious awards, including “Best Fintech Company” and “Best Forex Service Provider.”

Successfully transitioned from ItzCash to EbixCash, establishing a stronger brand identity.

Competitive Advantages and USP:

Vast Physical Network: Unique blend of extensive physical presence and robust online platform creates a strong distribution advantage.

Diversified Product Portfolio: Caters to various needs, minimizing reliance on any single market segment.

Focus on Technology: Continuous innovation in mobile apps and digital solutions keeps EbixCash ahead of the curve.

Strong Partnerships: Collaborations with leading players add value and enhance reach.

EbixCash Financials:

Revenue Growth: EbixCash has registered consistent double-digit revenue growth exceeding 20% in the past three fiscal years. This strong growth trajectory reflects rising demand for its B2C and B2B offerings.

Profitability: The company has maintained profitability since its inception, achieving Rs. 400 crore in net profit for FY 2022-23 and exceeding $100 million in EBITDA.

Debt Levels: EbixCash’s debt-to-equity ratio currently stands at approximately 0.5, considered moderate and manageable within the industry. This suggests a healthy balance between debt financing and equity capital.

EbixCash IPO Objectives:

EbixCash’s decision to launch an IPO aims to achieve several objectives that align with its future growth strategy:

1. Raise Capital for Expansion: The primary objective is to raise up to Rs. 6,000 crore through the fresh issue of equity shares. This capital will be crucial for:

Funding organic growth initiatives: Expanding its existing product lines, entering new markets, and strengthening its technology infrastructure.

Acquisitions and strategic investments: Identifying and acquiring complementary businesses or technologies to accelerate growth and diversify its offerings.

Meeting working capital requirements: Ensuring adequate financial resources to support ongoing operations and future expansion plans.

2. Enhance Brand Visibility and Reputation: Going public will elevate EbixCash’s profile in the Indian market and attract wider investor attention. This can:

Boost brand awareness and credibility: Attract new customers and partners, potentially leading to increased market share.

Improve access to talent and resources: Attract top talent and secure better loan terms or partnerships due to enhanced public image.

3. Create a Liquidity Event for Investors: Existing shareholders, including Ebix Inc., will have the opportunity to exit their investments and unlock liquidity through the IPO. This can:

Provide financial returns to early investors: Reward their contribution to the company’s growth.

Free up capital for Ebix Inc. to focus on its core business: The US parent company can utilize its proceeds from the IPO for its own turnaround efforts.

EbixCash IPO Lead Managers:

EbixCash has appointed a consortium of five reputable investment banks to guide its IPO journey:

Motilal Oswal Investment Advisors: A leading domestic investment bank with extensive experience in managing large IPOs across various sectors. They’ve successfully handled over 150 IPOs, including prominent names like Delhivery, Adani Wilmar, and Nykaa.

Equirus Capital: Known for their expertise in technology and financial services IPOs. They’ve managed successful offerings for companies like Paytm, Zomato, and Policybazaar.

ICICI Securities: One of India’s largest investment banks with a strong track record in IPOs, having managed over 200 public offerings, including Bajaj Energy, Indigo Paints, and Star Health and Allied Insurance.

SBI Capital Markets: The investment banking arm of the State Bank of India, bringing a vast network and experience in managing large government and private sector IPOs.

Yes Securities: A well-respected investment bank with a growing presence in the IPO market, having managed successful offerings like Nuvoco Vistas Corporation and Sona Comstar.

The collective expertise of these lead managers ensures:

Effective marketing and pricing: Reaching the right investors and determining a suitable IPO price.

Regulatory compliance: Ensuring adherence to SEBI guidelines and other legal requirements.

Smooth execution: Facilitating a seamless IPO process from launch to listing.

Registrar: Keeping Track of the Details

Link Intime India Private Limited has been appointed as the registrar for the EbixCash IPO. Their role is crucial in:

Managing the application process: Receiving and processing IPO applications from investors.

Maintaining the record of applications: Ensuring accuracy and transparency in the allocation process.

Transferring shares to investors’ demat accounts: Facilitating smooth share distribution post-IPO.

EbixCash IPO Risks:

While EbixCash’s IPO holds promise, it’s important to consider potential risks and concerns before making an investment decision:

Industry Headwinds: The fintech sector is competitive and faces regulatory uncertainties. Increased competition or changes in regulations could affect EbixCash’s market share and profitability.

Company-Specific Challenges:

Ebix Inc. Bankruptcy: The ongoing bankruptcy of the US parent company raises concerns about potential financial implications for EbixCash, although the company maintains its operational independence.

Dependence on Forex: A significant portion of EbixCash’s revenue comes from the forex market, which can be volatile due to currency fluctuations.

Limited Profitability: While the company has been profitable, its net profit margin remains relatively low compared to some competitors, raising concerns about its long-term profitability.

Financial Health Analysis:

Debt Levels: EbixCash’s current debt-to-equity ratio of 0.5 is moderate, but future debt accumulation could impact its financial flexibility.

Reliance on Key Partnerships: Certain partnerships drive a significant portion of the company’s revenue, making it vulnerable to disruptions in these relationships.

Limited Track Record as a Public Company: As a yet-to-be listed entity, there’s limited historical data for investors to assess its performance as a publicly traded company.

Red Flags for Investors:

The delayed IPO launch: This could indicate potential challenges or uncertainties.

The impact of Ebix Inc. bankruptcy: Investors need to carefully assess the potential financial and reputational risks associated with this development.

The company’s dependence on specific segments: Over-reliance on forex or a limited product portfolio could expose the company to higher risks.

Read EBIXCASH Limited official DRHP

Also Read: How to Apply for an IPO?

[market-insider]

Blockchain in Retail Banking Market Strategies Unveiled: Future-Proof Finance

The global blockchain in retail banking market size is expected to reach USD 140.26 billion by 2030, advancing at a CAGR of 83.9% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The rise in the fintech industry, the IT industry revolution, the rise in competition, and evolving customer expectations are some of the reasons that are driving the market growth. Retail banks are focusing on adopting digital transformation and advanced technologies to streamline their business process and customer offerings, which bodes well for the adoption of blockchain in retail banking.

Blockchain in Retail Banking Market Report Highlights

The hybrid segment is expected to witness significant growth over the forecast period. Hybrid blockchain combines the benefits provided by both public and private blockchains. It allows retail banks to establish a private-permission-based system, with data stored on the blockchain being administered and public, contributing to the segment's growth

The application & solution segment is expected to witness significant growth over the forecast period. Blockchain provides applications & solutions, which include remittance, KYC, and fraud detection, enhancing retail banks' business processes. The extensive end use of these applications & solutions is flourishing the segment’s growth

The large enterprise segment dominated the market in 2021 and is expected to witness significant growth over the forecast period. Large enterprises deal with enormous amounts of data that must be processed, verified, and streamlined for better employee and consumer experience. Blockchain provides all these benefits, which are driving the segment's growth

The remittances segment is expected to register significant growth over the forecast period. Some of the challenges faced by traditional remittance services include higher processing time and higher service costs. Blockchain eliminates these roadblocks and provides real-time remittance at a lower price, which is expected to drive the segment's growth

Asia Pacific is expected to register rapid growth during the forecast period. The region is a hotspot for technologically inclined youth, who are more adaptable to technologies. Additionally, the favorable government initiatives to promote blockchain and many retail banks adopting advanced technologies to offer enhanced customer experience are driving the region's growth

For More Details or Sample Copy please visit link @: Blockchain in Retail Banking Market Report

Blockchain technology uses distributed, decentralized ledger that records transactions across many networks, which cannot be altered once registered. This provides banks with the necessary infrastructure to maintain their data confidentiality, real-time information, and payment transactions. Additionally, no single entity controls the ledger and every time a transaction is added, everyone on the network gets a copy of it. This provides the utmost transparency to retail banks, contributing to the market's growth.

Blockchain technology also facilitates real-time payments, enabling users to make payments 24/7. Adopting this technology helps banks save on costs and meet the latest security standards while providing a sophisticated customer experience. Leading banks across the globe are adopting blockchain for operational efficiency, which is anticipated to boost the demand for these platforms, further propelling the industry’s growth.

The COVID-19 outbreak played a crucial role in the development of blockchain in the retail banking market. Significant banks and non-banking financial corporations in the retail segment have shifted from traditional technologies to digital infrastructure. Thus, market leaders' introduction of advanced blockchain financial software in retail banking and increasing digital infrastructure fueled during the pandemic are some critical factors contributing to the market's growth.

[lovelypol]

Digital Remittance Market, Size Worth USD 66.4 Billion By 2032 | Data Analysis By GIS

In a world where borders blur, families span continents, and global connections thrive, the Digital Remittance Market emerges as a transformative force, reshaping how we send and receive money across the globe. Join me on an exhilarating journey through this financial frontier, where convenience meets compassion, and sending love knows no boundaries.

Imagine this: You want to support loved ones overseas, but traditional remittance channels entail lengthy processes and hefty fees. Enter the Digital Remittance Market—a game-changer revolutionizing the movement of money across borders:

💸 Seamless Transactions: Digital remittance platforms offer a streamlined process, allowing users to send funds with unparalleled ease, convenience, and speed. Say goodbye to long queues and paperwork!

🌍 Global Connectivity: The beauty of digital remittances lies in their ability to bridge geographical gaps. These platforms transcend borders, connecting families, supporting livelihoods, and fostering economic resilience across continents.

🔒 Security & Trust: With robust encryption and secure authentication measures, digital remittance services prioritize the safety of transactions, earning the trust of users by safeguarding their hard-earned money throughout the transfer process.

📱 Mobile-Centric Solutions: As smartphones become ubiquitous, digital remittance platforms leverage this trend, offering user-friendly mobile apps that empower users to send money anytime, anywhere, with just a few taps.

💡 Financial Inclusion: Digital remittances are leveling the financial playing field, providing access to financial services for the unbanked and underbanked populations, empowering them to participate in the global economy.

📈 Cost-Effective & Transparent: Compared to traditional methods, digital remittances often boast lower fees and more transparent exchange rates, ensuring that a larger portion of the sent money reaches the intended recipients.

🤝 Social Impact: Beyond financial transactions, digital remittances foster social impact by supporting education, healthcare, and livelihoods in recipient countries, playing a pivotal role in global development.

As we navigate a world where distances shrink and connections expand, the Digital Remittance Market emerges as a beacon of financial empowerment, global solidarity, and the boundless possibilities of digital innovation.

So, fellow global citizens and champions of connectivity, fasten your seatbelts! The digital remittance revolution invites us on a transformative journey, redefining how we support our loved ones and contribute to a world where financial compassion knows no borders. 💸🌐✨ #DigitalRemittanceRevolution #GlobalConnections #FinancialEmpowerment 📲💳

[prasannareddy]

Remittance Market Technology, Key Manufacturers Report 2022-2030: Special Focus on USA, Europe, Japan Market

The research on the growth of the "Remittance Market" from 2023 to 2030 offers valuable insights into present trends, hurdles, market risks, and limitations faced by key vendors. This comprehensive report encompasses geographical segmentation, current demand trends, in-depth growth rate analysis, industry revenue, and a detailed examination of the Compound Annual Growth Rate (CAGR). Additionally, this report on the Remittance market delivers both qualitative and quantitative analyses, including company profiles, investment prospects, strategic development strategies, industry size, and global market share assessments.

Allied Market Research published a report, titled, "Remittance Market By Application (Consumption, Savings, and Investment), Remittance Channel (Banks, Money Transfer Operator, and Others), and End User (Business and Personal): Global Opportunity Analysis and Industry Forecast, 2021-2030". According to the report, the global remittance industry was estimated at $701.93 billion in 2020, and is anticipated to hit $1.23 trillion by 2030, registering a CAGR of 5.7% from 2021 to 2030.

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Drivers, Restraints, and Opportunities

Surge in cross-border transactions & mobile-based payment channels, lowered cost & transfer time, and increase in adoption of banking & financial services fuel the growth of the global remittance market. On the other hand, lack of awareness regarding digital remittance and slowdown in the Asia-Pacific region impede the growth to some extent. However, technological innovations and increase in penetration of smartphones & the internet create new opportunities in the industry.

COVID-19 Scenario:

The outbreak of Covid-19 paralyzed the economy of the majority of countries, especially during the initial phase, thereby impacting the global remittance market negatively. A fall in remittance flows also imposed economic, fiscal, and social burdens across the world. However, the market is projected to recoup soon. The Consumption Segment to Dominate By 2030

Based on application, the consumption segment accounted for nearly three-fifths of the global remittance market share in 2020, and is anticipated to rule the roost by 2030. A huge sum of money is remitted every month by the workers to their home country for food, clothing, and other expenditures. This factor drives the growth of the segment. The investment segment, however, would cite the fastest CAGR of 8.1% throughout the forecast period. This is due to the fact that it helps developed countries regenerate new revenue stream by investing the remitted money in different investment schemes, which boosts the GDP of the country.

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The Banks Segment to Maintain the Dominant Share

Based on remittance channel, the banks segment held nearly half of the global remittance market revenue in 2020, and is expected to lead the trail by 2030. The fact that banks are joining forces to develop cross-border real-time services propels the segment growth. The money transfer operator segment, on the other hand, would manifest the fastest CAGR of 8.1% from 2020 to 2030. This is because an array of digital-only players such as WorldRemit, Xoom, Transfer Wise, and InstaReM enable direct global money transfers sent from and received through mobile wallets held on personal devices.

Asia-Pacific, Followed By LAMEA, Europe, and North America, Garnered the Major Share in 2020

Based on region, Asia-Pacific, followed by LAMEA, Europe, and North America, held the major share in 2020, generating nearly half of the global remittance market. The same region would also grow at the fastest CAGR of 6.4% by 2030. This is attributed to rapidly advancing technologies, evolving customer expectations, and changing regulatory setting in the region.

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Key Players in the Industry

Citigroup Inc. XOOM JPMorgan Chase & Co. RIA Financial Services Ltd. TransferWise Ltd. MoneyGram International Inc. Bank of America UAE Exchange Wells Fargo Western Union Holdings Inc.

Top Impacting Factors Rise in Cross-Border Transactions and Mobile-Based Payment Channels Reduced Remittance Cost and Transfer Time

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Remittance Market Report Highlights

By Application

Consumption Savings Investment

By Remittance Channel

Banks Money Transfer Operator Others

By End User

Business Personal

By Region

North America (U.S., Canada) Europe (France, Germany, UK, Italy, Spain, Rest of Europe) Asia-Pacific (China, Japan, India, Philippines, Pakistan, Rest of Asia-Pacific) LAMEA (Latin America, Middle East, Africa)

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

[markettrendsus]

Check Cashing Market: Growth Opportunities in Remittances and Other Services

The Global Check Cashing Market is expected to reach a value of USD 44.3 billion in 2023, and it is further anticipated to reach a market value of USD 60.5 billion by 2032 at a CAGR of 3.5%. 

Check cashing services provide a means of accessing funds without the need for a bank account. In return for a fee, these services provide the conversion of paychecks & different types of checks into cash. Operating as financial service providers, they provide a range of easy transactions in addition to consumer financial products, including money orders, small-scale loans, electronic bill settlement, & check cashing.

Key Players

Walmart Inc

Encore Capital Group

PHH Corp

Black Knight Inc

Film Finances Inc

Waterman Inc

Navient Solutions LLC

Ocwen Financial Corp

Harrison Vickers

Currency Exchange International Corp

Other

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Drivers:

Rising underbanked population - With limited access to traditional banking services, the underbanked population relies on alternative financial services like check cashing. Their numbers have grown significantly over the past decade.

High fees and interest rates - Check cashing services are able to charge high transaction fees, interest rates, and surcharges because underbanked consumers have few affordable alternatives. These lucrative fees drive industry growth.

Convenient locations and hours - Check cashers are located in areas close to the underbanked and offer extended hours on evenings and weekends when traditional banks are closed. This expands their potential customer base.

Lack of direct deposit - Many underbanked workers are paid by paper check rather than direct deposit. This creates an ongoing need for check cashing services.

Restraints:

Regulatory changes - Efforts to regulate check cashing fees and practices constrain industry growth. Many states now enforce fee caps.

Growing digital payments - As underbanked consumers adopt mobile banking and digital wallets, they rely less on check cashing services for basic transactions.

Bank branch expansion - Major banks are expanding branches to more low-income neighborhoods, providing greater competition.

Recession vulnerability - Check cashing revenues fall significantly during economic downturns when underbanked workers face unemployment.

Key Segmentation

By Service Provider

Banks

Credit Unions

Others

By Type

Pre-Printed Checks

Payroll Checks

Government Checks

Tax Checks

Others

By End User

Commercial

Personal

Companies covered

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Opportunities:

Expanded remittance services - Check cashers can grow their customer base by offering low-cost international remittance services.

New revenue streams - There are opportunities to generate revenues from bill payments, prepaid cards, payday loans, and other financial services.

Partnerships with employers and landlords - Strategic partnerships provide access to new groups of underbanked consumers in need of check cashing services.

Challenges:

Persistent poverty rates - The size of the underbanked population hinges on improving economic conditions and wages for low-income households.

Mobile and digital disruption - As financial technology evolves, it may gradually make check cashing services obsolete.

Debt traps - High fees for repeated check cashing transactions create debt spirals for chronic users. This leads to negative public perceptions.

Determining check legitimacy - Check cashers face risks from fraudulent or bad checks. Better technology is needed to verify legitimacy.

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