Global Remittance Market Key Trends, Size, Growth, Shares and Forecast Research Report 2015

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Remittance is defined as transfer of money by an individual residing in foreign country to his/her home country. The monetary fund transferred by foreign migrants to their homes represents second largest financial inflow to the respective nation. Remittance channel is collectively comprised of a sender, a recipient, intermediaries in both countries, and the payment interface used by the intermediaries. In order to ensure greatest security during any money transfer transaction, certain international standards have been set by the World Bank. The remittance system encompasses the following components: Remittance Service Providers (RSP), Remittance Corridors, and Remittance Network and, Money Transfer System. Remittances are playing an increasingly large role in the economies of many countries. They contribute to economic growth and to the livelihoods of less prosperous people.

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The key factors driving the growth of the global remittance market are growing urbanization, accelerating economic growth, rising employment population and rapidly increasing international migrant population. Some of the noteworthy trends and developments of this industry are sustainable development goals and financing for development, expanding existing payment system infrastructure for remittances, unstable remittance cost, the impact of remittance on health, education and poverty, wide portfolio of remittance services and electronic transactions on the rise. However, the expansion of global remittance market is hindered by strict regulatory compliances and access points establishment.

The report “Global Remittance Market” provides an in-depth analysis of the global market along with a focus on all major regions. The major trends, growth drivers as...