Market Research Report US Mexico Remittance Corridor,Number of Debit Card | страница 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.