Market Research Report US Mexico Remittance Corridor,Number of Debit Card | Page 3

Mexico bill payment market is forecasted to grow at rapid rate.
Rising number of nuclear families owing to the internal
migrations will increase the usage of electricity, water,
broadband, phones and other utilities. Growth in the adoption
of digital payment methods, entry of non-traditional players,
technological innovations and proliferation of immediate
players in the country will drive the bill payment industry in
the coming future.
Ken Research in its latest study, Mexico Remittance & Bill
Payment Market Outlook to 2021 – Growing Mexican
Immigrants in the US & Internet Penetration to Drive Market
Growth suggested MoneyGram, Western Union, Xoom, RIA
money transfer will continue their dominance but have to face
fierce competition from the counterparts. The companies in the
industry have plans to launch their mobile wallets to take
advantage in increasing use of digital payment modes in the
country.
The Mexico Remittance market is estimated to register a
positive CAGR during 2016-2021. Rising internet penetration,
expanding service portfolio, growing number of internal
migrants, rising consumer expenditure are the key drivers for
the growth of the remittance and bill payment industry in the
country.