April 2017 Mexico Remittance & Bill Payment Market Outlook to 2021
Executive Summary
Mexico Remittance & Bill Payment Market Outlook to 2021 - Ken Research
Ken Research Latest on “ Mexico Remittance & Bill Payment Market Outlook to 2021 - Growing Mexican Immigrants in the US & Increasing Internet Penetration to Drive Market Growth ” provides a comprehensive analysis of the remittance & bill payment market in Mexico . The report covers various aspects such as overall size of Mexico Remittance market in terms of transaction volume and total number of transactions . Information on International Remittance market , inbound remittance market , outbound remittance , Market segmentation of inbound international remittance market on the basis of region , money transferring channel and others , Mexico domestic remittance market and its segmentation , Mexico bill payment market and its segmentation , Trends and growth drivers of the industry , issue & challenges , market share , and snapshot on global remittance market have been covered in the report . The report also covers the competitive landscape of the industry , competitive benchmarking of major players and comprehensive profile of leading and emerging players operating in the market . The report also includes future outlook and projection of Mexico International Remittance market , Mexico domestic Remittance market , Mexico Bill payment market . Major macroeconomic indicators and upcoming projects affecting the market have also been highlighted in the report . The report also serves as a benchmark for every new player who is seeking to enter into Remittance & bill payment market in Mexico . The Mexico remittance industry in the country is booming from past few years on account of increasing immigrants , rising job opportunities , better salary , high employment rate in countries , fluctuating exchange rates and others . Over the past several years , as the number of migrant workers have increased , remittance flows have increased . The Mexico remittance industry is highly fragmented with presence of large number of local players . The remittance fund is transferred through different payment modes like online payment , account to account , cash / cheque , money orders and others .
Mexico International Remittance Market For Mexico , International Remittance is a critical source of income and supports the countries development in a major way . The international Remittance market has increased from the USD ~ million in 2011 to USD ~ million in 2016 , growing at a CAGR of ~ % during the period . In terms of total number of transactions the market has increased from ~ thousands in 2013 to ~ thousands in 2016 . The growth of the remittance industry in the country is been majorly driven by the large number of Mexican workers who have crossed borders in search of higher paying job opportunities . The US has majorly contributed in the total transaction volume of remittance in the country followed by Canada , Spain , Guatemala , France and others . Migrant ’ s workers often transfer more money in Mexico when peso falls against the dollar giving recipient more local currency . In 2015 , the US contributed ~ % in terms of transaction volume of remittance in Mexico .
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