Global Money Transfer Agencies Market Research Report 2023

Money Transfer Agencies Market

Money transfer agencies provide remittance services to international migrants transferring money to their native countries. It consists of different channels such as banks, money transfer providers, and distributors of mobile networks. In addition, money transfers have increased significantly, owing to growth in companies associated with customers and individuals working overseas in recent years.

The global Money Transfer Agencies market was valued at US$ million in 2022 and is anticipated to reach US$ million by 2029, witnessing a CAGR of % during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

North American market for Money Transfer Agencies is estimated to increase from $ million in 2023 to reach $ million by 2029, at a CAGR of % during the forecast period of 2023 through 2029.

Asia-Pacific market for Money Transfer Agencies is estimated to increase from $ million in 2023 to reach $ million by 2029, at a CAGR of % during the forecast period of 2023 through 2029.

The global market for Money Transfer Agencies in Individuals is estimated to increase from $ million in 2023 to $ million by 2029, at a CAGR of % during the forecast period of 2023 through 2029.

The key global companies of Money Transfer Agencies include Western Union Holdings Inc, TransferWise Ltd., Finablr, MoneyGram International, Inc, Ria Financial Services, Xoom Corporation, Remitly Inc., WorldRemit Ltd and SMALL WORLD FINANCIAL SERVICES, etc. In 2022, the world's top three vendors accounted for approximately % of the revenue.

Report Scope

This report aims to provide a comprehensive presentation of the global market for Money Transfer Agencies, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Money Transfer Agencies.

The Money Transfer Agencies market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Money Transfer Agencies market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Money Transfer Agencies companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.

Scope of Money Transfer Agencies Market Report

Core Chapters

1.1 Study Scope

1.2 Market Analysis by Type

1.2.1 Global Money Transfer Agencies Market Size Growth Rate by Type: 2018 VS 2022 VS 2029

1.2.2 Money Transfer

1.2.3 Currency Exchange

1.3 Market by Application

1.3.1 Global Money Transfer Agencies Market Growth by Application: 2018 VS 2022 VS 2029

1.3.2 Individuals

1.3.3 Business

1.4 Study Objectives

1.5 Years Considered

1.6 Years Considered

2.1 Global Money Transfer Agencies Market Perspective (2018-2029)

2.2 Money Transfer Agencies Growth Trends by Region

2.2.1 Global Money Transfer Agencies Market Size by Region: 2018 VS 2022 VS 2029

2.2.2 Money Transfer Agencies Historic Market Size by Region (2018-2023)

2.2.3 Money Transfer Agencies Forecasted Market Size by Region (2024-2029)

2.3 Money Transfer Agencies Market Dynamics

2.3.1 Money Transfer Agencies Industry Trends

2.3.2 Money Transfer Agencies Market Drivers

2.3.3 Money Transfer Agencies Market Challenges

2.3.4 Money Transfer Agencies Market Restraints

3.1 Global Top Money Transfer Agencies Players by Revenue

3.1.1 Global Top Money Transfer Agencies Players by Revenue (2018-2023)

3.1.2 Global Money Transfer Agencies Revenue Market Share by Players (2018-2023)

3.2 Global Money Transfer Agencies Market Share by Company Type (Tier 1, Tier 2, and Tier 3)

3.3 Players Covered: Ranking by Money Transfer Agencies Revenue

3.4 Global Money Transfer Agencies Market Concentration Ratio

3.4.1 Global Money Transfer Agencies Market Concentration Ratio (CR5 and HHI)

3.4.2 Global Top 10 and Top 5 Companies by Money Transfer Agencies Revenue in 2022

3.5 Money Transfer Agencies Key Players Head office and Area Served

3.6 Key Players Money Transfer Agencies Product Solution and Service

3.7 Date of Enter into Money Transfer Agencies Market

3.8 Mergers & Acquisitions, Expansion Plans

4.1 Global Money Transfer Agencies Historic Market Size by Type (2018-2023)

4.2 Global Money Transfer Agencies Forecasted Market Size by Type (2024-2029)

5.1 Global Money Transfer Agencies Historic Market Size by Application (2018-2023)

5.2 Global Money Transfer Agencies Forecasted Market Size by Application (2024-2029)

6.1 North America Money Transfer Agencies Market Size (2018-2029)

6.2 North America Money Transfer Agencies Market Growth Rate by Country: 2018 VS 2022 VS 2029

6.3 North America Money Transfer Agencies Market Size by Country (2018-2023)

6.4 North America Money Transfer Agencies Market Size by Country (2024-2029)

6.5 United States

6.6 Canada

7.1 Europe Money Transfer Agencies Market Size (2018-2029)

7.2 Europe Money Transfer Agencies Market Growth Rate by Country: 2018 VS 2022 VS 2029

7.3 Europe Money Transfer Agencies Market Size by Country (2018-2023)

7.4 Europe Money Transfer Agencies Market Size by Country (2024-2029)

7.5 Germany

7.6 France

7.7 U.K.

7.8 Italy

7.9 Russia

7.10 Nordic Countries

8.1 Asia-Pacific Money Transfer Agencies Market Size (2018-2029)

8.2 Asia-Pacific Money Transfer Agencies Market Growth Rate by Region: 2018 VS 2022 VS 2029

8.3 Asia-Pacific Money Transfer Agencies Market Size by Region (2018-2023)

8.4 Asia-Pacific Money Transfer Agencies Market Size by Region (2024-2029)

8.5 China

8.6 Japan

8.7 South Korea

8.8 Southeast Asia

8.9 India

8.10 Australia

9.1 Latin America Money Transfer Agencies Market Size (2018-2029)

9.2 Latin America Money Transfer Agencies Market Growth Rate by Country: 2018 VS 2022 VS 2029

9.3 Latin America Money Transfer Agencies Market Size by Country (2018-2023)

9.4 Latin America Money Transfer Agencies Market Size by Country (2024-2029)

9.5 Mexico

9.6 Brazil

10.1 Middle East & Africa Money Transfer Agencies Market Size (2018-2029)

10.2 Middle East & Africa Money Transfer Agencies Market Growth Rate by Country: 2018 VS 2022 VS 2029

10.3 Middle East & Africa Money Transfer Agencies Market Size by Country (2018-2023)

10.4 Middle East & Africa Money Transfer Agencies Market Size by Country (2024-2029)

10.5 Turkey

10.6 Saudi Arabia

10.7 UAE

11.1 Western Union Holdings Inc

11.1.1 Western Union Holdings Inc Company Detail

11.1.2 Western Union Holdings Inc Business Overview

11.1.3 Western Union Holdings Inc Money Transfer Agencies Introduction

11.1.4 Western Union Holdings Inc Revenue in Money Transfer Agencies Business (2018-2023)

11.1.5 Western Union Holdings Inc Recent Development

11.2 TransferWise Ltd.

11.2.1 TransferWise Ltd. Company Detail

11.2.2 TransferWise Ltd. Business Overview

11.2.3 TransferWise Ltd. Money Transfer Agencies Introduction

11.2.4 TransferWise Ltd. Revenue in Money Transfer Agencies Business (2018-2023)

11.2.5 TransferWise Ltd. Recent Development

11.3 Finablr

11.3.1 Finablr Company Detail

11.3.2 Finablr Business Overview

11.3.3 Finablr Money Transfer Agencies Introduction

11.3.4 Finablr Revenue in Money Transfer Agencies Business (2018-2023)

11.3.5 Finablr Recent Development

11.4 MoneyGram International, Inc

11.4.1 MoneyGram International, Inc Company Detail

11.4.2 MoneyGram International, Inc Business Overview

11.4.3 MoneyGram International, Inc Money Transfer Agencies Introduction

11.4.4 MoneyGram International, Inc Revenue in Money Transfer Agencies Business (2018-2023)

11.4.5 MoneyGram International, Inc Recent Development

11.5 Ria Financial Services

11.5.1 Ria Financial Services Company Detail

11.5.2 Ria Financial Services Business Overview

11.5.3 Ria Financial Services Money Transfer Agencies Introduction

11.5.4 Ria Financial Services Revenue in Money Transfer Agencies Business (2018-2023)

11.5.5 Ria Financial Services Recent Development

11.6 Xoom Corporation

11.6.1 Xoom Corporation Company Detail

11.6.2 Xoom Corporation Business Overview

11.6.3 Xoom Corporation Money Transfer Agencies Introduction

11.6.4 Xoom Corporation Revenue in Money Transfer Agencies Business (2018-2023)

11.6.5 Xoom Corporation Recent Development

11.7 Remitly Inc.

11.7.1 Remitly Inc. Company Detail

11.7.2 Remitly Inc. Business Overview

11.7.3 Remitly Inc. Money Transfer Agencies Introduction

11.7.4 Remitly Inc. Revenue in Money Transfer Agencies Business (2018-2023)

11.7.5 Remitly Inc. Recent Development

11.8 WorldRemit Ltd

11.8.1 WorldRemit Ltd Company Detail

11.8.2 WorldRemit Ltd Business Overview

11.8.3 WorldRemit Ltd Money Transfer Agencies Introduction

11.8.4 WorldRemit Ltd Revenue in Money Transfer Agencies Business (2018-2023)

11.8.5 WorldRemit Ltd Recent Development

11.9 SMALL WORLD FINANCIAL SERVICES

11.9.1 SMALL WORLD FINANCIAL SERVICES Company Detail

11.9.2 SMALL WORLD FINANCIAL SERVICES Business Overview

11.9.3 SMALL WORLD FINANCIAL SERVICES Money Transfer Agencies Introduction

11.9.4 SMALL WORLD FINANCIAL SERVICES Revenue in Money Transfer Agencies Business (2018-2023)

11.9.5 SMALL WORLD FINANCIAL SERVICES Recent Development

11.10 Azimo Limited

11.10.1 Azimo Limited Company Detail

11.10.2 Azimo Limited Business Overview

11.10.3 Azimo Limited Money Transfer Agencies Introduction

11.10.4 Azimo Limited Revenue in Money Transfer Agencies Business (2018-2023)

11.10.5 Azimo Limited Recent Development

13.1 Research Methodology

13.1.1 Methodology/Research Approach

13.1.2 Data Source

13.2 Disclaimer

13.3 Author Details

List of Tables

    Table 1. Global Money Transfer Agencies Market Size Growth Rate by Type (US$ Million): 2018 VS 2022 VS 2029

    Table 2. Key Players of Money Transfer

    Table 3. Key Players of Currency Exchange

    Table 4. Global Money Transfer Agencies Market Size Growth by Application (US$ Million): 2018 VS 2022 VS 2029

    Table 5. Global Money Transfer Agencies Market Size by Region (US$ Million): 2018 VS 2022 VS 2029

    Table 6. Global Money Transfer Agencies Market Size by Region (2018-2023) & (US$ Million)

    Table 7. Global Money Transfer Agencies Market Share by Region (2018-2023)

    Table 8. Global Money Transfer Agencies Forecasted Market Size by Region (2024-2029) & (US$ Million)

    Table 9. Global Money Transfer Agencies Market Share by Region (2024-2029)

    Table 10. Money Transfer Agencies Market Trends

    Table 11. Money Transfer Agencies Market Drivers

    Table 12. Money Transfer Agencies Market Challenges

    Table 13. Money Transfer Agencies Market Restraints

    Table 14. Global Money Transfer Agencies Revenue by Players (2018-2023) & (US$ Million)

    Table 15. Global Money Transfer Agencies Market Share by Players (2018-2023)

    Table 16. Global Top Money Transfer Agencies Players by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Money Transfer Agencies as of 2022)

    Table 17. Ranking of Global Top Money Transfer Agencies Companies by Revenue (US$ Million) in 2022

    Table 18. Global 5 Largest Players Market Share by Money Transfer Agencies Revenue (CR5 and HHI) & (2018-2023)

    Table 19. Key Players Headquarters and Area Served

    Table 20. Key Players Money Transfer Agencies Product Solution and Service

    Table 21. Date of Enter into Money Transfer Agencies Market

    Table 22. Mergers & Acquisitions, Expansion Plans

    Table 23. Global Money Transfer Agencies Market Size by Type (2018-2023) & (US$ Million)

    Table 24. Global Money Transfer Agencies Revenue Market Share by Type (2018-2023)

    Table 25. Global Money Transfer Agencies Forecasted Market Size by Type (2024-2029) & (US$ Million)

    Table 26. Global Money Transfer Agencies Revenue Market Share by Type (2024-2029)

    Table 27. Global Money Transfer Agencies Market Size by Application (2018-2023) & (US$ Million)

    Table 28. Global Money Transfer Agencies Revenue Market Share by Application (2018-2023)

    Table 29. Global Money Transfer Agencies Forecasted Market Size by Application (2024-2029) & (US$ Million)

    Table 30. Global Money Transfer Agencies Revenue Market Share by Application (2024-2029)

    Table 31. North America Money Transfer Agencies Market Size Growth Rate by Country (US$ Million): 2018 VS 2022 VS 2029

    Table 32. North America Money Transfer Agencies Market Size by Country (2018-2023) & (US$ Million)

    Table 33. North America Money Transfer Agencies Market Size by Country (2024-2029) & (US$ Million)

    Table 34. Europe Money Transfer Agencies Market Size Growth Rate by Country (US$ Million): 2018 VS 2022 VS 2029

    Table 35. Europe Money Transfer Agencies Market Size by Country (2018-2023) & (US$ Million)

    Table 36. Europe Money Transfer Agencies Market Size by Country (2024-2029) & (US$ Million)

    Table 37. Asia-Pacific Money Transfer Agencies Market Size Growth Rate by Region (US$ Million): 2018 VS 2022 VS 2029

    Table 38. Asia-Pacific Money Transfer Agencies Market Size by Region (2018-2023) & (US$ Million)

    Table 39. Asia-Pacific Money Transfer Agencies Market Size by Region (2024-2029) & (US$ Million)

    Table 40. Latin America Money Transfer Agencies Market Size Growth Rate by Country (US$ Million): 2018 VS 2022 VS 2029

    Table 41. Latin America Money Transfer Agencies Market Size by Country (2018-2023) & (US$ Million)

    Table 42. Latin America Money Transfer Agencies Market Size by Country (2024-2029) & (US$ Million)

    Table 43. Middle East & Africa Money Transfer Agencies Market Size Growth Rate by Country (US$ Million): 2018 VS 2022 VS 2029

    Table 44. Middle East & Africa Money Transfer Agencies Market Size by Country (2018-2023) & (US$ Million)

    Table 45. Middle East & Africa Money Transfer Agencies Market Size by Country (2024-2029) & (US$ Million)

    Table 46. Western Union Holdings Inc Company Detail

    Table 47. Western Union Holdings Inc Business Overview

    Table 48. Western Union Holdings Inc Money Transfer Agencies Product

    Table 49. Western Union Holdings Inc Revenue in Money Transfer Agencies Business (2018-2023) & (US$ Million)

    Table 50. Western Union Holdings Inc Recent Development

    Table 51. TransferWise Ltd. Company Detail

    Table 52. TransferWise Ltd. Business Overview

    Table 53. TransferWise Ltd. Money Transfer Agencies Product

    Table 54. TransferWise Ltd. Revenue in Money Transfer Agencies Business (2018-2023) & (US$ Million)

    Table 55. TransferWise Ltd. Recent Development

    Table 56. Finablr Company Detail

    Table 57. Finablr Business Overview

    Table 58. Finablr Money Transfer Agencies Product

    Table 59. Finablr Revenue in Money Transfer Agencies Business (2018-2023) & (US$ Million)

    Table 60. Finablr Recent Development

    Table 61. MoneyGram International, Inc Company Detail

    Table 62. MoneyGram International, Inc Business Overview

    Table 63. MoneyGram International, Inc Money Transfer Agencies Product

    Table 64. MoneyGram International, Inc Revenue in Money Transfer Agencies Business (2018-2023) & (US$ Million)

    Table 65. MoneyGram International, Inc Recent Development

    Table 66. Ria Financial Services Company Detail

    Table 67. Ria Financial Services Business Overview

    Table 68. Ria Financial Services Money Transfer Agencies Product

    Table 69. Ria Financial Services Revenue in Money Transfer Agencies Business (2018-2023) & (US$ Million)

    Table 70. Ria Financial Services Recent Development

    Table 71. Xoom Corporation Company Detail

    Table 72. Xoom Corporation Business Overview

    Table 73. Xoom Corporation Money Transfer Agencies Product

    Table 74. Xoom Corporation Revenue in Money Transfer Agencies Business (2018-2023) & (US$ Million)

    Table 75. Xoom Corporation Recent Development

    Table 76. Remitly Inc. Company Detail

    Table 77. Remitly Inc. Business Overview

    Table 78. Remitly Inc. Money Transfer Agencies Product

    Table 79. Remitly Inc. Revenue in Money Transfer Agencies Business (2018-2023) & (US$ Million)

    Table 80. Remitly Inc. Recent Development

    Table 81. WorldRemit Ltd Company Detail

    Table 82. WorldRemit Ltd Business Overview

    Table 83. WorldRemit Ltd Money Transfer Agencies Product

    Table 84. WorldRemit Ltd Revenue in Money Transfer Agencies Business (2018-2023) & (US$ Million)

    Table 85. WorldRemit Ltd Recent Development

    Table 86. SMALL WORLD FINANCIAL SERVICES Company Detail

    Table 87. SMALL WORLD FINANCIAL SERVICES Business Overview

    Table 88. SMALL WORLD FINANCIAL SERVICES Money Transfer Agencies Product

    Table 89. SMALL WORLD FINANCIAL SERVICES Revenue in Money Transfer Agencies Business (2018-2023) & (US$ Million)

    Table 90. SMALL WORLD FINANCIAL SERVICES Recent Development

    Table 91. Azimo Limited Company Detail

    Table 92. Azimo Limited Business Overview

    Table 93. Azimo Limited Money Transfer Agencies Product

    Table 94. Azimo Limited Revenue in Money Transfer Agencies Business (2018-2023) & (US$ Million)

    Table 95. Azimo Limited Recent Development

    Table 96. Research Programs/Design for This Report

    Table 97. Key Data Information from Secondary Sources

    Table 98. Key Data Information from Primary Sources

List of Figures

    Figure 1. Global Money Transfer Agencies Market Size Comparison by Type (2023-2029) & (US$ Million)

    Figure 2. Global Money Transfer Agencies Market Share by Type: 2022 VS 2029

    Figure 3. Money Transfer Features

    Figure 4. Currency Exchange Features

    Figure 5. Global Money Transfer Agencies Market Size Comparison by Application (2023-2029) & (US$ Million)

    Figure 6. Global Money Transfer Agencies Market Share by Application: 2022 VS 2029

    Figure 7. Individuals Case Studies

    Figure 8. Business Case Studies

    Figure 9. Money Transfer Agencies Report Years Considered

    Figure 10. Global Money Transfer Agencies Market Size (US$ Million), Year-over-Year: 2018-2029

    Figure 11. Global Money Transfer Agencies Market Size, (US$ Million), 2018 VS 2022 VS 2029

    Figure 12. Global Money Transfer Agencies Market Share by Region: 2022 VS 2029

    Figure 13. Global Money Transfer Agencies Market Share by Players in 2022

    Figure 14. Global Top Money Transfer Agencies Players by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Money Transfer Agencies as of 2022)

    Figure 15. The Top 10 and 5 Players Market Share by Money Transfer Agencies Revenue in 2022

    Figure 16. North America Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 17. North America Money Transfer Agencies Market Share by Country (2018-2029)

    Figure 18. United States Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 19. Canada Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 20. Europe Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 21. Europe Money Transfer Agencies Market Share by Country (2018-2029)

    Figure 22. Germany Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 23. France Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 24. U.K. Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 25. Italy Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 26. Russia Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 27. Nordic Countries Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 28. Asia-Pacific Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 29. Asia-Pacific Money Transfer Agencies Market Share by Region (2018-2029)

    Figure 30. China Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 31. Japan Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 32. South Korea Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 33. Southeast Asia Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 34. India Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 35. Australia Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 36. Latin America Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 37. Latin America Money Transfer Agencies Market Share by Country (2018-2029)

    Figure 38. Mexico Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 39. Brazil Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 40. Middle East & Africa Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 41. Middle East & Africa Money Transfer Agencies Market Share by Country (2018-2029)

    Figure 42. Turkey Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 43. Saudi Arabia Money Transfer Agencies Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 44. Western Union Holdings Inc Revenue Growth Rate in Money Transfer Agencies Business (2018-2023)

    Figure 45. TransferWise Ltd. Revenue Growth Rate in Money Transfer Agencies Business (2018-2023)

    Figure 46. Finablr Revenue Growth Rate in Money Transfer Agencies Business (2018-2023)

    Figure 47. MoneyGram International, Inc Revenue Growth Rate in Money Transfer Agencies Business (2018-2023)

    Figure 48. Ria Financial Services Revenue Growth Rate in Money Transfer Agencies Business (2018-2023)

    Figure 49. Xoom Corporation Revenue Growth Rate in Money Transfer Agencies Business (2018-2023)

    Figure 50. Remitly Inc. Revenue Growth Rate in Money Transfer Agencies Business (2018-2023)

    Figure 51. WorldRemit Ltd Revenue Growth Rate in Money Transfer Agencies Business (2018-2023)

    Figure 52. SMALL WORLD FINANCIAL SERVICES Revenue Growth Rate in Money Transfer Agencies Business (2018-2023)

    Figure 53. Azimo Limited Revenue Growth Rate in Money Transfer Agencies Business (2018-2023)

    Figure 54. Bottom-up and Top-down Approaches for This Report

    Figure 55. Data Triangulation

    Figure 56. Key Executives Interviewed