The new research, Digital Money Transfer & Remittances: Domestic & International Markets 2019-2024, shows that the mobile channel will account for 41% of international digital money transfers by volume in 2024, up from 33% in 2019.
Other key findings of the research:
blockchain-based payments have the potential to increase digital payments further
by utilising a blockchain-powered network, operators can offer their users a much faster, and more transparent service;
in order to succeed, blockchain platforms must focus on gaining as many partners as possible to increase the reach of their networks;
the rise of fintech players has meant that traditional players have had to evolve rapidly, with Western Union and MoneyGram both focusing on digital strategies going forward.
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