Philippines Domestic and International Money Transfer Industry Outlook to 2017

Philippines Domestic and International Money Transfer Industry Outlook to 2017 - Tie-ups and Price Wars to Influence the Market Growth The industry research report titled “Philippines Domestic and International Money Transfer Industry Outlook to 2017 - Tie-ups and Price Wars to Influence the Market Growth” provides comprehensive analysis of domestic money remittance, bill payment, mobile money, branch-pick ups, door to door transfer, direct credit to bank, online, mobile and international money transfer market. The report discusses the competition between banking and non-banking channel (money transfer companies and pawnshops) in Philippines and provides market share, number of transactions, average transaction size and transaction volume along with other parameters of all the major MTOs, Pawnshops and banks. The market for domestic money transfers in the Philippines is exceedingly dynamic and has been maturing since the last many years. In the last several years, the enormous market of international remittances has also engrossed international players such as Western Union and Money Gram into the domestic money transfer market. Conversely, the Philippines-based service providers such as banks, regional and national pawnshops, LBC Express, iRemit, Smart and others have a noteworthy presence in the domestic market. Some of the largely used payment service providers in Philippines include Palawan Pawnshop, Western Union, Cebuana Lhuillier, LBC Express, M Lhuillier and other regional pawnshops. The total market for domestic remittances was valued at USD million in 2012. In-country Filipinos characterized by domestic migrants who have moved for better economic and employment opportunities and permanent residents together accounted for approximately % of the total domestic remittances. Additionally, approximately % of the overall domestic remittances were funded by people/families who have also received international remittances from Filipinos in other...