#Digital Remittance Regional Analysis

[sapana22]

Digital Remittance Industry Report: Global Market Manufacturers, Outlook and Growth till forecast

Global Digital Remittance Market Report

The Digital Remittance Market research report offers an in-depth analysis of market dynamics, competitive landscapes, and regional growth patterns. This comprehensive report provides businesses with the strategic insights necessary to identify growth opportunities, manage risks, and develop effective competitive strategies in an ever-evolving market.

According to Straits Research, the global Digital Remittance market size was valued at USD 19.65 Billion in 2022. It is projected to reach from USD XX Billion in 2023 to USD 72.44 Billion by 2031, growing at a CAGR of 15.6% during the forecast period (2023–2031).

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Global Digital Remittance Market Segmental Analysis

As a result of the Digital Remittance market segmentation, the market is divided into sub-segments based on product type, application, as well as regional and country-level forecasts.

By Type

Inward Digital Remittance

Outward Digital Remittance

By Channel

Banks

Money Transfer Operators

Online Platforms

Others

By End-User

Migrant Labor Workforce

Personal

Small Businesses

Others

You can check In-depth Segmentation from here: https://straitsresearch.com/report/digital-remittance-market/segmentation

Why Invest in this Report?

Leverage Data for Strategic Decision-Making: Utilize detailed market data to make informed business decisions and uncover new opportunities for growth and innovation.

Craft Expansion Strategies for Diverse Markets: Develop effective expansion strategies tailored to various market segments, ensuring comprehensive coverage and targeted growth.

Conduct Comprehensive Competitor Analysis: Perform in-depth analyses of competitors to understand their market positioning, strategies, and operational strengths and weaknesses.

Gain Insight into Competitors' Financial Metrics: Acquire detailed insights into competitors' financial performance, including sales, revenue, and profitability metrics.

Benchmark Against Key Competitors: Use benchmarking to compare your business's performance against leading competitors, identifying areas for improvement and potential competitive advantages.

Formulate Region-Specific Growth Strategies: Develop geographically tailored strategies to capitalize on local market conditions and consumer preferences, driving targeted business growth in key regions.

List of Top Leading Players of the Digital Remittance Market -

Azimo Limited

Digital Wallet Corporation

Insta Re M Pvt. Ltd.

MoneyGram

PayPal Holdings, Inc.

Ria Financial Services Ltd.

Transfer Go Ltd.

TransferWise Ltd.

Western Union Holdings, Inc.

World Remit Ltd.

Reasons to Purchase This Report:

Access to Comprehensive Information: Gain access to an extensive collection of analysis, research, and data that would be challenging to acquire independently. This report offers valuable insights, saving you considerable time and effort.

Enhanced Decision-Making: Equip yourself with detailed insights into market trends, consumer behavior, and key industry factors. This report provides essential information for strategic planning, including decisions on investments, product development, and marketing strategies.

Achieving Competitive Advantage: Stay ahead in your industry by understanding market dynamics and competitor strategies. This report delivers deep insights into competitor performance and market trends, enabling you to craft effective business strategies and maintain a competitive edge.

Credibility and Reliability: Trust in the expertise of industry professionals and the accuracy of thoroughly researched data. Authored by experts and grounded in rigorous research and analysis, this report enhances credibility and reliability.

Cost-Effective Research: Reduce research expenses by investing in this comprehensive report instead of conducting independent research. It provides a cost-effective means of accessing detailed analysis and insights on a specific topic without requiring extensive resources.

Regional Analysis Digital Remittance Market

The regional analysis section of the report offers a thorough examination of the global Digital Remittance markets, detailing the sales growth of various regional and country-level markets. It includes precise volume analysis by country and market size analysis by region for both past and future periods. The report provides an in-depth evaluation of the growth trends and other factors impacting the Digital Remittance markets in key countries, such as the United States, Canada, Mexico, Germany, France, the United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil, and Saudi Arabia. Moreover, it explores the progress of significant regional markets, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

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About Straits Research

Straits Research is dedicated to providing businesses with the highest quality market research services. With a team of experienced researchers and analysts, we strive to deliver insightful and actionable data that helps our clients make informed decisions about their industry and market. Our customized approach allows us to tailor our research to each client's specific needs and goals, ensuring that they receive the most relevant and valuable insights.

Contact Us

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Address: 825 3rd Avenue, New York, NY, USA, 10022

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[sanikapatil22]

Digital Remittance Industry Report: Global Market Manufacturers, Outlook and Growth till forecast

Strategic Insights and Forecasts: Digital Remittance Market Leaders

The Digital Remittance Size report is anticipated to experience significant growth in the coming years. As the world continues to recover from the pandemic, the market is expected to expand. The Digital Remittance research not only highlights current industry standards but also reveals the latest strategic trends and patterns among market players. This research serves as an essential business document, aiding global market buyers in planning their next steps regarding the market's future trajectory.

According to Straits Research, the global Digital Remittance market size was valued at USD 19.65 Billion in 2022. It is projected to reach from USD XX Billion in 2023 to USD 72.44 Billion by 2031, growing at a CAGR of 15.6% during the forecast period (2023–2031).

The Digital Remittance Report is an essential resource for business strategists, offering insightful data and analysis. It includes an industry overview, growth analysis, and historical and projected figures for cost, revenue, supply, and demand (where applicable). Research analysts offer a thorough description of the value chain and distributor analysis. This report provides comprehensive information to deepen understanding, broaden the scope, and enhance the application of the findings.

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Leading Digital Remittance Market include: -

Azimo Limited

Digital Wallet Corporation

Insta Re M Pvt. Ltd.

MoneyGram

PayPal Holdings, Inc.

Ria Financial Services Ltd.

Transfer Go Ltd.

TransferWise Ltd.

Western Union Holdings, Inc.

World Remit Ltd.

The Digital Remittance Market Report helps a wide range of businesses determine what their consumers truly want by doing extensive market research. When it comes to new products, every company owner wants to know how much demand there is, and this report is a great resource. Additional benefits include ensuring that the most recent market developments are covered. You may closely check key rivals and their company growth tactics by reading the Digital Remittance market research. It also does an in-depth research for the years 2022-2030 in order to provide company owners with new business options.

This research also provides a dashboard view of prominent Organizations, highlighting their effective marketing tactics, market share and most recent advances in both historical and current settings.

Global Digital Remittance Market: Segmentation

By Type

Inward Digital Remittance

Outward Digital Remittance

By Channel

Banks

Money Transfer Operators

Online Platforms

Others

By End-User

Migrant Labor Workforce

Personal

Small Businesses

Others

The report forecasts revenue growth at all the geographic levels and provides an in-depth analysis of the latest industry trends and development patterns from 2022 to 2030 in each of the segments and sub-segments. Some of the major geographies included in the market are given below:

The regions covered include:

North America (United States, Canada, Mexico)

Europe (United Kingdom, France, Germany, Russia)

Asia-Pacific (China, Japan, Australia, Indonesia)

Middle East and Africa (UAE, Iran, Syria, South Africa)

South America (Brazil, Peru, Chile, Colombia)

This Report is available for purchase on Buy Digital Remittance Market Report

Reasons to Purchase This Report:

The Digital Remittance Market report provides an analysis of the evolving competitive landscape.

The report offers valuable analytical insights and strategic planning tools to support informed business decisions.

Researchers highlight key market dynamics, including drivers, restraints, trends, developments, and opportunities.

The report includes regional market estimates and business profiles of various stakeholders.

It helps in understanding all significant market segments.

The report provides extensive data on trending factors that will impact market growth.

Research Methodology:

We employ a robust research methodology that includes data triangulation based on top-down and bottom-up approaches, along with validation of estimated market figures through primary research. The data used to estimate the Digital Remittance market size and forecast across various segments at the global, regional, and country levels is sourced from the most reliable published materials and through interviews with relevant stakeholders.

About Us:

StraitsResearch.com is a leading research and intelligence organization, specializing in research, analytics, and advisory services along with providing business insights & research reports.

Contact Us: Email: sales@straitsresearch.com Address: 825 3rd Avenue, New York, NY, USA, 10022 Tel: +1 6464807505, +44 203 318 2846

[soulfulsteps]

Klarpay AG Reviews: Scam Exposed

Read Klarpay AG Reviews and find out if this company is a major scam or a legit enterprise in this Gripeo review.

As the first fintech company in Switzerland with a FINMA license, Klarpay says it caters only to digital merchants, social media influencers, and e-commerce. It provides remittance and cross-border payment acceptance solutions, including digital disbursement services, access to multi-currency IBAN accounts, and global payment acceptance. Mihkel Vitsur, a co-founder of BDSwiss, founded Klarpay in 2019. It was among the first Swiss fintech companies to be granted a banking license under the recently announced Small Banks Regime. This is our preliminary analysis.

Brief Story of Klarpay AG reviews

It appears that Klarpay AG is a kind of spin-off of Jan Eric Malkus’ investing company, BDSwiss. Several of its founders and former executives are important figures in the bank:

Mihkel Vitsur, a co-founder and former chairman of BDSwiss, is the chairman of Klarpay.

CEO of Klarpay and a former director of BDSwiss Group, Martynas Bieliauskas co-founded the company;

Former BDSwiss CIO and CTO Christos Alatzidis co-founded and serves as CTO of Klarpay; Marc Evans, the former CFO of BDSwiss, became Chief Financial Officer of Klarpay in February 2022.

The principal figures of Payabl (previously Powercash21), as recently revealed by reporters, are Dietmar Knoechelmann, his wife Ayelet Fruchtlander Knoechelmann, Ruediger Trautmann, and Frank Schoonbaert, all of whom were formerly Wirecard scheme managers. Former Wirecard satellite programs like Inatec and Powercash21 were absorbed by Payabl (see this story).

Payabl invested in Klarpay and successfully arranged a seed financing round for the latter in May 2022. A total of CHF 3 million was put into Klarpay. Ugne Buraciene, Group CEO of Payabl, was designated as an advisor to Klarpay as part of Payabl’s involvement with the latter company.

The marketplaces

As of August 2022, Similarweb’s most recent statistics show that over thirty percent of the around 10,000 website visits are from Turkey, with the Netherlands and Germany following closely behind. Therefore, it is reasonable to presume that Turkish merchants and/or their Turkish consumers make up a sizable component of Klarpay’s user base.

FINMA

The Swiss government agency in charge of financial regulation is called the Swiss Financial Market Supervisory Authority. This covers the oversight of other Swiss financial intermediaries such as banks, insurance providers, stock exchanges, and securities dealers. The name and abbreviation of FINMA are typically written in English to avoid giving the impression that one of Switzerland’s linguistic regions is being favoured.

The Federal Banking Commission, which was founded in 1934, was succeeded by FINMA, which was created in 2007. Located in Bern, it is a stand-alone organisation with its own legal identity. It reports directly to the Swiss parliament and is institutionally, operationally, and fiscally independent of the Federal Department of Finance and the central federal administration.

With the passage of the Federal Act creating the Swiss Financial Market Supervisory Authority (FINMASA) on June 22, 2007, FINMA was established. By doing this, the Federal Office of Private Insurance (FOPI), the Anti Money Laundering Control Authority, and the EBK-CFB were combined into a single organisation that was in charge of overseeing all financial regulations in Switzerland.

Due to their importance to the Swiss economy, two of the biggest banks in the world, UBS and Credit Suisse, are located in Switzerland. As such, FINMA has a specialised regulatory team focused on each of these companies.

FINMA issues banking licences to all Swiss banks. A “FinTech banking licence” is now an application option for some fintech businesses as of 2019. Five businesses have been licensed as fintech banks as of May 2023:  Klarpay AG, Relio AG, SR Saphirstein AG, SWISS4.0 SA, and Yapeal AG.

Klarpay AG Reviews (As claimed)

Leading financial provider Klarpay AG gives online companies access to digital disbursement solutions, global payment acceptance, and multi-currency IBAN accounts. With a focus on e-commerce, digital entrepreneurs, and social media influencers, Klarpay is the first fintech company with a Swiss licence. Its mission is to empower digital entrepreneurs by providing customised business banking solutions and scalable, international payment options. Established in 2019, Klarpay AG is a financial institution that accepts deposits and is subject to regulation by the Swiss Financial Market Supervisory Authority (FINMA) in accordance with Article 1b of the Swiss Federal Banking Act.

Klarpay AG Reviews: The influencer culture and its impact on digital payments in the future

Could you explain the significance of the influencer culture, which has exploded in the last five years around the globe, to the payments ecosystem?

It is debatable if influencers have changed marketing in the last ten years. Influencers have changed during the course of the culture’s quick ascent to prominence as a potent marketing tool. In the past, influencers’ exposure was mostly determined by the brands they were linked to; but, in recent years, this has changed, and influencers are increasingly starting to establish themselves as brands.

Influencer marketing is just as crucial in the financial industry as it is in other industries like fashion, food, and health. It resonates so well because we are interested in learning about the finest places to eat or who creates the most stylish, eco-friendly clothing since these topics are important to us on a daily basis.

However, people are curious about which brand or organisation is the most honest, which offers the greatest services, and which offers the best solution, since few things are as important to people as their finances.

Klarpay AG Reviews: Conclusion

Influencer.in by media published “The Influencer Marketing Report 2023.” It offers a thorough analysis of the sector, including insights into Influencer Marketing and its current developments. Over 500 survey responses from Indian content creators and over 50 responses from marketers were used to build the research for 2023 between June and August of this year. For companies looking to incorporate influencer marketing into their marketing mix, the research provides useful insights.

The growing popularity of short-form videos—more than 92% of influencers preferring to create content using this format—and YouTube Shorts’ emergence as the go-to platform for content creation were two significant discoveries. This is indicative of more general social media tendencies toward brief, eye-catching material.

Influencer marketing, according to more than 77% of respondents, is a “must-have” element of every digital marketing plan. YouTube shorts are now the most popular content format on Instagram, which continues to be the most popular channel for influencer marketing.

Influencer marketing continues to be a low-budget activity for brands; most allocate only 5–10% of their marketing budgets to this kind of advertising.

Since micro creators are frequently viewed by their fans as more real and relevant than celebrities, 61% of marketers prefer to collaborate with them over celebrities. This can help them be more successful in increasing engagement and sales.

Although mega- and macro-influencers are similarly well-liked, working with them is typically more costly. If you want to reach a large audience quickly they’re a good option, but may not be as effective at driving engagement as micro- and mid-tier influencers.

Influencer marketing in 2023 will be driven by authenticity and short-form videos. According to the poll, short-form films were preferred by 92% of influencers, which represents a significant shift in influencer activations. Over 51% of influencers chose YouTube as their favourite platform.

The most common video format among influencers is short-form content, such as Reels and YouTube Shorts.

[ofw-job-orders]

How Post-SARS Hong Kong's Tech Boom Relied on Filipino Network Admins, Remittances, & Brain Gain (OFWJobs.org)

The exodus of skilled workers from the Philippines, particularly to destinations like Hong Kong, has been a complex and evolving narrative for decades. While the economic benefits of remittances are undeniable, the impact on the Philippines’ own development, particularly in specialized fields like network administration, demands closer scrutiny. This examination becomes especially pertinent when viewed through the lens of post-SARS preparedness and the ongoing struggle to retain and repatriate valuable talent through "brain gain" initiatives. This article will explore the intricacies of this situation, focusing on Filipino network administrators in Hong Kong, the legal framework surrounding their remittances, and the ongoing efforts to create a more sustainable future for Filipino talent.

The SARS outbreak of 2003 served as a stark wake-up call for many countries, highlighting vulnerabilities in public health infrastructure and the interconnectedness of the global landscape. For Hong Kong, a major financial hub with a dense population and significant reliance on migrant workers, the impact was profound. The post-SARS period saw a renewed focus on strengthening healthcare systems and bolstering emergency preparedness. This included a growing demand for robust IT infrastructure to support contact tracing, data analysis, and communication networks. Network administrators, therefore, became crucial players in this rebuilding and preparedness effort. For Filipino network administrators in Hong Kong, this presented both opportunities and challenges. The demand for their skills increased, but so did the pressure to perform in a high-stakes environment.

The Philippines has long been a source of skilled IT professionals, with many choosing to seek opportunities abroad due to higher salaries and perceived better prospects. Hong Kong, with its proximity and established Filipino community, became a natural destination for many. The post-SARS period saw a surge in demand for IT professionals, attracting even more Filipino network administrators to the region. This influx of talent contributed significantly to Hong Kong's recovery and ongoing efforts to enhance its digital infrastructure. However, this brain drain also posed a significant challenge for the Philippines. Losing skilled professionals in a rapidly evolving field like network administration hampered the country's own technological advancement and competitiveness.

Recognizing the long-term implications of this outward migration, the Philippine government has implemented various "brain gain" initiatives. These programs aim to attract skilled Filipinos back to the country by offering competitive salaries, research opportunities, and improved working conditions. Some initiatives specifically target IT professionals, recognizing the importance of this sector for national development. However, these initiatives face significant hurdles. Competing with the lucrative salaries and benefits offered in places like Hong Kong remains a challenge. Moreover, creating a conducive environment for innovation and professional growth within the Philippines requires sustained investment and systemic reforms.

A crucial aspect of the OFW experience is the remittance system, the lifeline that connects these workers to their families back home. Remittances play a vital role in the Philippine economy, contributing significantly to the country's GDP. For Filipino network administrators in Hong Kong, sending money home is not just a financial transaction; it's a deeply personal commitment to their families’ well-being and future. Understanding the legal framework surrounding remittances is crucial for both the senders and recipients.

Several laws and regulations govern the remittance process, both in the Philippines and Hong Kong. These laws are designed to protect the rights of OFWs, ensure transparency in transactions, and prevent money laundering and other illicit activities. Key aspects of these regulations include:

* **Anti-Money Laundering Laws:** Both the Philippines and Hong Kong have stringent anti-money laundering laws that require financial institutions to monitor and report suspicious transactions. This is to prevent the use of remittance channels for illegal activities.

* **Foreign Exchange Regulations:** Regulations govern the conversion of currencies and the transfer of funds across borders. Understanding these regulations is essential for OFWs to maximize the value of their remittances.

* **Consumer Protection Laws:** These laws protect OFWs from unfair practices by remittance service providers, ensuring transparency in fees and exchange rates.

* **Taxation:** While remittances themselves are generally not taxed in the Philippines, OFWs may be subject to income tax in Hong Kong depending on their earnings and residency status.

Navigating these legal complexities can be challenging for OFWs. Therefore, access to reliable information and legal assistance is crucial. Organizations like OFWJobs.org (https://www.ofwjobs.org/) provide valuable resources and support for OFWs, including information on employment opportunities, legal rights, and financial literacy.

Beyond the legal aspects, understanding the employment landscape for Filipino network administrators in Hong Kong is essential. The competition for these positions can be intense, requiring individuals to possess not only strong technical skills but also soft skills like communication and adaptability. The working environment in Hong Kong is often fast-paced and demanding, requiring professionals to stay updated with the latest technologies and industry trends.

The ongoing debate surrounding brain drain versus brain gain requires a nuanced approach. While the departure of skilled workers presents challenges for the Philippines, it also creates opportunities for knowledge transfer and diaspora networks. Returning OFWs often bring with them valuable experience and expertise, which can contribute to the development of the local IT sector. Furthermore, remittances injected into the Philippine economy can fuel entrepreneurship and investment, creating new opportunities for economic growth.

The challenge lies in creating a sustainable cycle of development where the benefits of outward migration can be harnessed to strengthen the domestic economy and attract talent back to the Philippines. This requires a multi-pronged approach involving government initiatives, private sector engagement, and the active participation of the OFW community.

Investing in education and training programs that equip Filipinos with the skills needed for the global job market is crucial. This includes strengthening STEM education and promoting specialized training in areas like network administration and cybersecurity. Furthermore, fostering a culture of innovation and entrepreneurship within the Philippines is essential for attracting and retaining talent. This requires creating a supportive regulatory environment, promoting access to funding, and encouraging collaboration between academia and industry.

The role of the private sector in this equation is also significant. Companies can contribute to brain gain initiatives by offering competitive salaries and benefits, investing in employee development, and creating opportunities for research and innovation within the Philippines. Furthermore, fostering partnerships with universities and training institutions can help bridge the gap between education and industry needs.

The Filipino diaspora, including network administrators in Hong Kong, represents a valuable asset for the Philippines. Engaging with this community and leveraging their expertise is crucial for promoting brain gain. This can involve creating mentorship programs, facilitating knowledge sharing platforms, and supporting returning OFWs in their reintegration into the Philippine workforce.

The story of Filipino network administrators in Hong Kong is a microcosm of the larger narrative of OFW migration. It highlights the complexities of brain drain, the importance of remittances, and the ongoing efforts to achieve brain gain. The post-SARS period underscored the critical role of IT professionals in building resilient infrastructure and ensuring preparedness for future challenges. Moving forward, a collaborative approach involving government, the private sector, and the OFW community is essential for creating a sustainable future for Filipino talent and harnessing the full potential of the diaspora for national development.

[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

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact us:

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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.

Get Full PDF Sample Copy of Report: (Including Full TOC, List of Tables & Figures, Chart) @

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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. 

If You Have Any Query Mobile Remittance Service Market Report, Visit:

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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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About us:

Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.

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[truckdrivingtraining]

The Indisputable Power Of Frequent Credit Rating Tracking

Your credit rating is actually a relatively innocuous three-digit variety with unparalleled effect over your financial lifestyle. Nowadays, it is actually greater than just a variety; it's an image of your creditworthiness, a marker of leave financial institutions and lenders utilize to evaluate your potential to acquire and also, possibly most significantly, your accountability along with monetary issues. Offered its own importance, it may startle that several neglect the essential duty that frequent credit monitoring can play in their monetary safety as well as welfare.

From Lack of knowledge to Permission

Imagine the financial planet as a mentally stimulating games panel and also your credit history as the king. Comprehending each piece's setting and also potential is actually important to making sure the safety and security of your monetary master. Right here are some relocations that credit score management can easily deliver you with:

Keep Informed as well as In Control:

Without frequent check-ins, your credit might be silently assaulted by identity robbers. Observing informs serve as depended on toys, warning you when a technique threatens your monetary security. It has to do with existing, informed, and also, most importantly, prepared to counter any potential risks to your monetary empire.

Planning along with Up-to-Date Relevant Information:

Knowing your present score implies you are actually educated as well as may create calculated selections that boost your economic posture. Whether you will get a financing or even a visa or mastercard or desire to work out better terms, a high credit rating coupled with an understanding of your credit portfolio can easily tip the remainder in your favor.

Constructing a Tough Financial Citadel:

Uniformity is the name of the video game. Normal credit monitoring allows you track your development and also identity theft protection spending and also saving habits. When you can recognize places of weak point, you can improve all of them, solidifying your defenses against monetary threat.

The Road to Monetary Health

Monitoring may be a sign of expect those seeking to improve a bothering credit history. It provides a crystal clear process to recuperation, directing you by means of credit report analysis and updates on where your score stands up. Equipped through this expertise, you may take straight, tactical actions to improve your score, opening doors to better monetary possibilities.

Realizing Credit Score Factors:

Knowing the factors that form your credit rating is actually half the battle. Factors like remittance history, credit use, and also credit mix bring substantial value. Through always keeping a close eye on your credit report, you become cognizant of the effects of your economic decisions, finding out to participate in the activity purposefully.

Acting on Educational Insights:

A high-ranking credit score management doesn't merely give notifies; it educates you. It delivers quick relevant information that may militarize economic development through highlighting regions that demand interest. It is actually an educator, a mentor, as well as a financial adviser spun in to one.

Altogether, the benefits of normal credit report tracking can easily certainly not be overstated. It is actually a vital resource for anyone browsing the intricate economic garden, offering control, security, as well as the potential for considerable development. By proactively observing your credit history, you safeguard your financial interests and acquire a much more protected and also prosperous future.

The financial world is a strategic video game, as well as your credit score is your most essential item. Don't leave it vulnerable. Frequent credit monitoring company furnishes you with the know-how and devices you require to play-- and succeed-- the credit activity.

[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

[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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About Us:

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.

[web3broadcast]

The Role of Cryptocurrency in Remittances and Cross-Border Transactions

Cryptocurrency has emerged as a transformative force in the realm of global payments, reshaping the landscape of remittances and cross-border transactions by offering a decentralized, secure, and efficient alternative to traditional banking systems. In this comprehensive analysis, we delve into the pivotal role of cryptocurrency in facilitating cross-border transactions, improving the efficiency of remittance transfers, and fostering financial inclusion within the dynamic and ever-evolving world of global finance and digital asset management. Empowering Instant and Low-Cost Remittance Transfers: Cryptocurrency as a Catalyst for Seamless and Affordable Cross-Border Payments Cryptocurrency empowers instant and low-cost remittance transfers by serving as a catalyst for seamless and affordable cross-border payments that transcend the limitations of traditional banking systems and conventional remittance channels. By leveraging blockchain technology, decentralized ledgers, and secure digital wallets, cryptocurrency transactions enable individuals to send and receive funds across international borders in real time, with minimal transaction fees, and without the need for intermediary financial institutions, thereby fostering a more inclusive, accessible, and cost-effective remittance ecosystem that prioritizes the financial well-being and economic empowerment of individuals and communities across diverse geographical locations and socioeconomic backgrounds. Mitigating Currency Exchange Risks and Volatility: Cryptocurrency as a Stable and Secure Medium of Exchange for Global Transactions Cryptocurrency mitigates currency exchange risks and volatility by serving as a stable and secure medium of exchange for global transactions that require instant and transparent value transfer across different fiat currencies and international financial markets. By facilitating peer-to-peer cryptocurrency transactions, stablecoin-based remittance solutions, and cross-border payment platforms, cryptocurrency networks provide users with a reliable and secure means of conducting international trade, cross-border commerce, and remittance transfers, while minimizing the risks associated with fluctuating exchange rates, geopolitical uncertainties, and regulatory constraints that impact the stability and transparency of traditional currency exchange mechanisms within the global financial ecosystem. Fostering Financial Inclusion and Accessibility: Cryptocurrency as a Tool for Empowering Unbanked and Underbanked Populations Cryptocurrency fosters financial inclusion and accessibility by serving as a tool for empowering unbanked and underbanked populations that lack access to traditional banking services and formal financial infrastructures within their respective regions. By embracing cryptocurrency adoption, digital wallet solutions, and blockchain-based financial services, underserved communities can participate in global commerce, access digital payment platforms, and leverage decentralized financial networks to send and receive remittances, access microfinance opportunities, and engage in cross-border trade activities that promote economic growth, social development, and sustainable financial empowerment within emerging markets and developing economies worldwide. Promoting Regulatory Compliance and Transparent Financial Transactions: Cryptocurrency as a Catalyst for Trust and Accountability in Global Payments Cryptocurrency promotes regulatory compliance and transparent financial transactions by serving as a catalyst for trust and accountability in global payments that adhere to international anti-money laundering (AML) and know-your-customer (KYC) standards, as well as regulatory guidelines for cross-border financial transactions and remittance transfers. By implementing blockchain-based identity verification protocols, transparent transactional records, and regulatory-compliant cryptocurrency exchanges, the cryptocurrency industry fosters a culture of transparency, accountability, and responsible financial practices that align with global regulatory frameworks and promote ethical, secure, and sustainable cross-border transactions within the evolving landscape of international finance and digital asset management. The Future of Cryptocurrency in Remittances and Cross-Border Transactions: Innovations and Collaborative Financial Ecosystems for Global Economic Integration Looking ahead, the future of cryptocurrency in remittances and cross-border transactions holds promising opportunities for continued innovations, collaborative financial ecosystems, and the integration of blockchain-driven solutions that redefine the future of global payments, financial inclusion, and the global economic landscape. By fostering cross-industry collaborations, advocating for regulatory clarity, and promoting user education and awareness, the cryptocurrency community can harness the transformative power of digital finance to shape a future where cross-border transactions, remittance transfers, and global financial integration converge to create a dynamic and resilient global payments ecosystem that transcends the boundaries of traditional banking systems and fosters sustainable economic growth on a global scale. Read the full article

[rohitpalan]

P2P Lending Market Trends: What Lies Ahead

Low operational expenses and reduced market risk for lenders and borrowers are to blame for the market’s expansion. During the projected period, increased digitization in the banking industry is anticipated to present the market with sizable business prospects. By the end of 2032, the worldwide peer-to-peer lending market is predicted to have grown from US$ 407.2 billion in 2022 to US$ 1.3 trillion. From 2022 to 2032, the market is anticipated to grow at a CAGR of 12.7%.

P2P lending is also being effectively utilised by a variety of end users, including the real estate industry, as its popularity has grown. Additionally, it is anticipated that increased player initiatives to work together will eventually help the market.

For instance, in May 2022, Fable Fintech, an eminent banking infrastructure enterprise, announced its strategic partnership with XeOPAR. XeOPAR is ready to make the most of the Fable Growth Suite (Retail) by establishing its first P2P remittances corridor from the United Kingdom to India, among others in SE Asia, East Africa, West Africa, the USA, Singapore, and the Middle East.

Request a Sample of this Report @  https://www.futuremarketinsights.com/reports/sample/rep-gb-14675

Owing to such initiatives, the market is anticipated to expand significantly in the forecast period. On the contrary, risks associated with peer-to-peer lending are expected to limit the market growth in the forecast period. Also, with less awareness about P2P lending, the market is expected to suffer.

However, with rising development in APAC along with the increasing number of small business entities, the market will counter the inhibiting factors, thus, supporting the industry expansion.

Key Takeaways from the Market Study:

Market in the U.S to value US$ 568.2 Billion by 2032

Chinese market to expand at a CAGR of 11.3% from 2022- to 2032

By end-user, the small business segment is expected to exhibit a CAGR of 10.3% during the assessment period

The marketplace lending model segment to exhibit a CAGR of 12.9% in the assessment period

Market in France to garner US% 39.7 Billion by 2032

S to exhibit a CAGR of 14% from 2022 to 2032

Competitive Landscape

With the help of alternative distribution channels such as online sales, Players in the global peer-to-peer lending market are focusing to enhance their market presence across the globe. Major players in the market include Prosper Marketplace, Inc., LendingClub Corporation, CommonBond Inc., Funding Circle Limited, and Upstart Network Inc. among others.

In August 2021, CRED, an eminent player in the peer-to-peer lending market rolled out a new peer-to-peer lending platform called CRED Mint. It can be used as a cred-card repayment platform, and it allows members to earn interest on money by lending to other high-earning consumers.

In January 2021, LendingClub, an eminent peer-to-peer lending market player, announced the acquisition of Radius Bancorp, Inc, and its digital bank subsidiary to expand the revenue of the company.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global peer-to-peer lending market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

Key Segments Profiled in the Peer-to-Peer Lending Market Analysis

Peer-to-Peer Lending by End User:

Peer-to-Peer Lending for Consumer Credit

Peer-to-Peer Lending for Small Business

Peer-to-Peer Lending for Student Loans

Peer-to-Peer Lending for Real Estate

Peer-to-Peer Lending by Business Model:

Traditional Peer-to-Peer Lending Model

Marketplace Peer-to-Peer Lending Model

Peer-to-Peer Lending by Region:

North America Peer-to-Peer Lending Market

Europe Peer-to-Peer Lending Market

Asia Pacific Peer-to-Peer Lending Market

Middle East & Africa Peer-to-Peer Lending Market

Latin America Peer-to-Peer Lending Market

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About Us

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc. Christiana Corporate, 200 Continental Drive, Suite 401, Newark, Delaware – 19713, USA T: +1-845-579-5705 For Sales Enquiries: sales@futuremarketinsights.com Browse Other Reports: https://www.futuremarketinsights.com/reports LinkedIn| Twitter| Blogs

[ailtrahq]

The market research firm Technavio’s new report shows that the crypto wallet market will grow by $686 million by 2026. The report is called “Crypto Wallet Market by Product and Geography – Forecast and Analysis 2022-2026.” Technavio estimates that the potential growth of the crypto wallet market from 2021 to 2026 will be over $686 million. This growth is driven by people’s increasing interest in digital currencies, which offer faster and cheaper bank transfers, a surge in e-commerce, higher currency transactions in low-income nations, and a rise in international remittances. Cryptocurrencies, having a limited supply defined by mathematical algorithms, serve as a reliable long-term store of value, making them attractive to investors, Technavio claims. Crypto wallet geography The crypto wallet market is categorized by product into software-based and hardware-based wallets and by geography across North America, Europe, APAC, South America, and the Middle East and Africa. The software-based wallet segment is expected to grow significantly due to its user-friendly online operation, making transactions and storage of cryptocurrencies more accessible. North America holds the largest share of the crypto wallet market at 41%, attributed to the emergence of new players and increasing demand in the region. Main takeaways from Technavio’s latest market research report | Source: PR Newswire Crypto regulation concerns However, the adoption of cryptocurrencies faces challenges due to security threats and misuse. Many regulators express concerns about the potential misuse of digital currencies for illegal activities, including money laundering, tax evasion, and financing terrorism. Cryptocurrency exchanges’ unregulated and decentralized nature allows criminals to keep their financial transactions hidden, raising concerns among governments and businesses. As a result, governments can impose restrictions on these exchanges to monitor illicit activities, which may curtail market growth. Crypto cards worldwide: brief stats Crypto card payments are evolving as a payment method for U.S., European, and Latin American users. Each region has a different market, with specific populations and consumer preferences. The U.S. market currently has an estimated 13 million, or 5% of American adults have a crypto credit card, according to Finder.com. A recent report released by the European crypto card company Bitsa revealed that 30% of European users prefer to pay with crypto cards because they think it is an easy way to make purchases or payments. In comparison, 26% said they pay with crypto cards to avoid carrying cash. The Latin American market is currently one of the biggest markets for crypto card payments. A 2022 report by Master Card titled New Payments Index showed that 51% of its users made at least one purchase using cryptocurrency as a payment method. Source

[reportprime01]

Global Digital Cross-Border Remittance Market Size was USD 6.20 Billion in 2022, this report covers Market growth, trend, opportunity and forecast 2023-2030

The Digital Cross-Border Remittance Market is expected to grow from USD 6.20 Billion in 2022 to USD 18.80 Billion by 2030, at a CAGR of 17.10% during the forecast period.

The Digital Cross-Border Remittance market is expected to experience substantial growth in the coming years due to the increasing penetration of smartphones and rising adoption of digital payment systems. This market research report provides a comprehensive analysis of the current market conditions, including drivers, trends, and challenges. The report covers a detailed segmentation of the market by end-user, transaction type, and region. The market size is projected to reach $29.84 billion by 2026, growing at a CAGR of 24.2% during the forecast period. The key players operating in the market include Western Union, MoneyGram International, Paypal, Remitly, and WorldRemit.

The objective of report is to define, segment, and project the market on the basis of product type, application, and region, and to describe the content about the factors influencing market dynamics, policy, economic, technology and market entry etc.

Digital cross-border remittance refers to the process of transferring money across borders through digital platforms, such as digital remittance service providers or bank digital remittance. The market segment includes personal remittance and corporate remittance, with major players such as WU, Ria, PayPal/Xoom, Wise, Zepz (WorldRemit, Sendwave), MoneyGram, Remitly, Azimo, TransferGo, NIUM, Inc (Instarem), TNG FinTech, Coins.ph, OrbitRemit, Smiles/Digital Wallet Corporation, FlyRemit, SingX, Flywire, Intermex, and Small World. The market is divided by region, including North America, Asia Pacific, Middle East, Africa, Australia, and Europe. Regulatory and legal factors specific to this market's conditions are significant, and the report analyzes them in detail. These factors include regulatory compliance, country-specific regulations, cross-border regulatory cooperation and standardization, regulatory enforcement and sanctions, and customer data protection regulations.

[alliedcreation]

Domestic Tourism Market Size is Projected to Expand at a Noteworthy CAGR of 13.4 %

The global domestic tourism market is expanding as a result of a rise in demand for unusual and exotic vacation experiences, a rise in social media influence and its effects on the travel industry, and a rise in the popularity of online bookings. Additionally, the market is growing as a result of the convergence of big data analytics, artificial intelligence, and mobile applications. The global domestic tourism industry is anticipated to reach $6,736.1 by 2030, according to Allied Market Research. From 2021 to 2030, the market is projected to expand at a noteworthy CAGR of 13.4 percent. The research provides a thorough analysis of the segments of the domestic tourism market, including location, tour type, booking methods, age group, and area.

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Key Take Away

The local or regional travel segment would witness the faster growth, registering a CAGR of 16.4% during the forecast. OTA segment would dominate the market, accounting for 56% of the market. On the basis of mode of booking, the direct booking segment acquired $930.9 billion, exhibiting 43.28% of the global market share. Conference/Meetings segment would witness the fastest growth, registering a CAGR of 16.2% during the forecast period. The 50 years and above age group segment would witness the fastest growth, registering a CAGR of 15.2% during the forecast. Asia-Pacific is the largest market growing at a CAGR of 12.7% from 2021-2030.

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As tourists seek more tourist destinations, small & medium enterprises (SMEs) will play a more important role in ensuring the long-term sustainability and sustainability of the tourism industry. Governments and institutions need to support SMEs in these difficult times and help them achieve this transition. The pandemic may include tax breaks and remittances, which are essential for SMEs to maintain their business and help their online businesses and national platforms to digitally transform, which may become a new source of external income. Emerging companies have experienced a boom in the region to meet the needs of those willing to travel. For example, in Thailand, cafes started serving dinner on old planes for people who never flew.

The domestic tourism market is segmented into location, mode of booking, tour type, age group, and region. On the basis of location, the market is categorized into local or regional travel and interstate travel. By mode of booking, it is segregated into OTA and direct booking. Depending on tour type, it is fragmented into conferences/meetings, weekend getaways, adventures tours, organized tours, holidays trip, and others. As per age group, it is segregated into below 30 years, 30–41 years, 42–49 years, and 50 years & above. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Spain, Italy, Russia, Sweden, Switzerland, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, New Zealand, South Korea, Thailand, Malaysia, Philippines, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, United Arab Emirates, Turkey, and rest of LAMEA).

On the basis of location, the local or regional travel segment was valued at $295.3 billion in 2020, and is projected to reach $1,983.0 billion by 2030, growing at a CAGR of 16.4% from 2021 to 2030. The trends of local immersion and authentic experiences are encouraging visitors to explore new destinations in their local or regional area. People are slowing their travel experiences, preferring to focus on a single region where they can leisurely mingle with locals and discover a true insider’s experience in their home region. Thus, raising interest of the people to explore and get aware of popular destination places in their local and regional area is likely to garner the growth of the domestic tourism market through local or regional travel segment.

According to tour type, the adventures tours segment was valued at $292.1 billion in 2020, and is expected to grow at $1,879.5 billion by 2030, registering a CAGR of 15.9%. Activities involved in the adventure tours such as land-based activity, water-based activity, and air-based activity are gaining considerable popularity among the millennial population, owing to its physical and mental health benefits. The adoption of mobiles, computers, and other networking devices is rising notably, which helps people to get aware of exotic and interesting adventure places.

According to the domestic tourism market analysis, on the basis of age group, the adventures tours segment was valued at $292.1 billion in 2020, and is expected to grow to $1,879.5 billion by 2030, exhibiting a CAGR of 15.9%. The 42–49-year age group is financially & physically mature and contributes significantly in the domestic tourism. These individuals have their social groups to travel together, and some of them prefer solo travelling to explore different adventures. Thus, the 42–49 years age group is promoting the growth of domestic tourism market, and anticipated to continue this trend throughout the domestic tourism market forecast period.

[coinprojects]

New Post has been published on https://coinprojects.net/ftx-partners-with-visa-bnb-chain-suffers-exploit-and-elon-musk-returns-to-44b-twitter-deal-hodlers-digest-oct-2-8/

FTX partners with Visa, BNB Chain suffers exploit and Elon Musk returns to $44B Twitter deal: Hodler’s Digest, Oct. 2-8

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

Musk’s deal for Twitter looks set to go with original $44B price tag

Elon Musk is back on track to buy Twitter. The billionaire originally decided to buy the social media network back in April 2022, settling on a price tag of roughly $44 billion. He subsequently attempted to cancel the agreement, claiming inadequate transparency from Twitter regarding the firm’s financial health as well as fake account and spam bot prevalence on the platform. Musk now intends to complete the original $44 billion deal, according to a legal filing.

EU regulators ban cross-border payments from Russian crypto accounts

In light of recent escalations in the Ukraine-Russia war, the European Union has banned crypto activity between member regions and Russia, no matter how small the transaction. The ban covers “all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet,” according to an Oct. 6 statement from the European Commission. Russia, on the other hand, has taken the opposite stance, evident in its approval of cross-border crypto activity in recent weeks.

Read also

Features

Get your money back: The weird world of crypto litigation

Columns

Wall Street disaster expert Bill Noble: Crypto spring is inevitable

SWIFT says it has reached a ‘breakthrough’ in recent CBDC experiments

The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a key cog in the global payments system, unveiled a successful test related to central bank digital currencies (CBDCs). In short, the test proved interoperability between CBDCs globally. “For CBDCs, our solution will enable central banks to connect their own networks simply and directly to all the other payments systems in the world through a single gateway,” SWIFT chief innovation officer Tom Zschach said in an Oct. 5 statement. SWIFT’s other test pertained to tokenized assets.

Middle East and North Africa are fastest-growing crypto markets: Data

The Middle East and North Africa, known as the MENA region, took the cake for fastest crypto growth this past year. Between July 2021 and June 2022, the volume of crypto transactions in the region hit $566 billion, a 48% increase from the year prior, according to a Chainalysis report. Crypto usage in the MENA region ranged from capital preservation and remittance payments to institutional activity. Latin America took second in terms of growth at 40%, and North America came in third with 36%.

FTX and Visa partner to permit crypto payments in 40 countries

Crypto exchange FTX unveiled that it has teamed up with Visa to produce a reportedly feeless debit card. Launching such a card has been a long-standing goal of FTX CEO Sam Bankman-Fried. The FTX Visa card will reportedly be available in 40 countries. The card’s website states the card is also free to own.

Winners and Losers

At the end of the week, Bitcoin (BTC) is at $19,604, Ether (ETH) at $1,336 and XRP at $0.49. The total market cap is at $947.07 billion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Casper (CSPR) at 20%, Elrond (EGLD) at 12.98% and Convex Finance (CVX) at 12.44%.  

The top three altcoin losers of the week are UNUS SED LEO (LEO) at -11.93%, Chiliz (CHZ) at -9.04% and Lido DAO (LDO) at -8.06%.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis.

Read also

Features

Get your money back: The weird world of crypto litigation

Columns

Wall Street disaster expert Bill Noble: Crypto spring is inevitable

Most Memorable Quotations

“A year ago, nobody’s asking me questions about bankruptcy. A year ago, everybody was asking me questions about DeFi and things like that.

Diogo Mónica, president and co-founder of Anchorage Digital

“NFTs can give you the technical ability to take ownership of a game asset out of the control of the publisher of the game.

Alex Dunmow, CEO of Ninja Syndicate

“This recession is in its earliest stages, and the smarter play is to let the Fed’s monetary policy shifts play out and save capital.

Richard Gardner, CEO of Modulus

“As it stands, owning digital art is still relatively foreign to most people and, at most, it’s a cool concept.

Ted Mui, CEO of Kuma Games

“All financial goods will move across blockchain networks in the future.

Matthew Hougan, chief investment officer at Bitwise Asset Management

“That’s our mandate: not to make a world with Bitcoin or Ethereum, or not make that world — it’s just to understand what’s going on, set up a system where we […] make sure people have good resources to understand what’s happening.”

Curtis Loftis, treasurer for the U.S. state of South Carolina

Prediction of the Week 

A crumbling stock market could create profitable opportunities for Bitcoin traders

Bitcoin posted another week of largely range-bound price action, trading between $19,000 and $20,500 for the most part, according to Cointelegraph’s BTC price index.

Cointelegraph analyst Marcel Pechman detailed the potential importance of Q3 earnings announcements expected in October from big companies such as Tesla and Apple. If negative, the announcements could lead to a falling BTC price if the asset remains correlated to mainstream markets. In contrast, Bitcoin’s scarcity could appeal to investors if inflation woes continue.

FUD of the Week 

Kim Kardashian pays SEC $1.26 million to settle EthereumMax charge

Kim Kardashian faces legal action from the United States Securities and Exchange Commission (SEC) for not disclosing one of her Instagram posts as being sponsored, according to the regulator. The celebrity accepted $250,000 in exchange for publishing a promotional post about crypto project EthereumMax (EMAX) on her Instagram account. The act will cost Kardashian a total of $1.26 million in fines, which she has agreed to pay despite not confirming or denying the charges.

BNB Chain back online after suspension due to a cross-chain exploit

BNB Chain was paused briefly this week to combat a cross-chain attack related to the BSC Token Hub bridge. The exploit “resulted in extra BNB,” according to an Oct. 6 tweet from Binance CEO Changpeng Zhao. Although the chain was able to freeze $7 million, estimates say roughly $70 to $80 million was stolen, down from earlier estimates of $100 million. BNB Chain successfully resumed activity on Oct. 7.

South Korean judge dismisses warrant for individual involved in Terra collapse: Report

The broad hunt for members of the Terra team has resulted in its first arrest: head of Terraform Labs’ business team Yoo Mo was taken into custody by South Korean police. A Seoul Southern District Court judge dismissed the arrest warrant shortly after, questioning the regulatory claims of the accusations, although Mo is not allowed to leave South Korea. The Terra crypto project collapsed in outlandish fashion earlier in 2022. Project leader Do Kwon remains at large.

Best Cointelegraph Features

Wall Street disaster expert Bill Noble: Crypto spring is inevitable

“It’s 10% up or 10% down each day. I don’t have to wait five years in between crises. As a matter of fact, I only have to wait about 45 minutes.”

What remains in the NFT market now that the dust has settled?

From profile pictures to celebrity endorsements, the NFT space has changed a lot since the market boom in 2021.

Federal regulators are preparing to pass judgment on Ethereum

The Securities and Exchange Commission is moving to take action against Ethereum that reaches far beyond the United States’ borders.

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Editorial Staff

Cointelegraph Magazine writers and reporters contributed to this article.

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