Market Research Reports - Ken Research US Domestic Remittance Market Segmentation

The US International, Domestic Money Remittance and Bill Payments Market Outlook to
2018: Ken Research
The report titled "The US International, Domestic Money Remittance and Bill Payments
Market Outlook to 2018 - Tie-ups and Mobile Remittances to Foster Future Growth" provides
a comprehensive analysis of the various aspects such as inward and outward remittance
statistics and flow corridors of the US domestic and international remittance market along with
the market size of the US bill payment market. The report also covers the segmentations of the
domestic and international remittance, and the bill payment market, as well as the market
shares of major bank and non-bank players in the US domestic remittance space. The report
also provides a comprehensive overview of strengths, weaknesses and service positioning of
major players and the future of the international and domestic remittance market in the US.
The US money transfer market has progressed steadily and had been driven majorly by
international migration flows. The country is home to a large number of international
immigrants. The number of international migrants in the US has doubled since 1990 and was
recorded as 46.0 million in 2013. The country is deemed as the largest remittance sender owing
to expanding immigrant population. The immigrant population has provided a strong impetus
to the outbound or the international money transfer transactions. The US lags behind in terms
of inbound remittances from other countries. The proportion of money received by the US in
the form of remittances is comparatively very less in proportion to money being remitted from
the US. The reason for the same is the least number of US born nationals working in other
countries. Almost a quarter-million emigrants leave US every year, and the State Department
estimates that between 5-5.5 million Americans presently reside overseas. The numbers of
Americans leaving the US have increased steadily over the years, owing to tax structure,
government policies, high penalty rates and other such reasons. Even though there has been an
increase in American expat population in countries such as Canada, Mexico and the UK, there
has not been a corresponding increase in the money being remitted by the Americans living
abroad.
The bills payment landscape in the country is also witnessing radical changes. Since the launch
of electronic bill payment and presentment, the adoption of electronic means for bills payment
and presentment (e-bills) has increased. The use of online bill payments has flourished over the
last few years and customers are increasingly paying their bills either through their computers
or mobile devices. The need for convenient and accelerated bill payments solutions has been
fuelling the market for bills payment in the US. The domestic remittance market in the US,
which has hugely been driven by the increasing number of domestic and international
migrations, inclining numbers of banked households, mounting disposable incomes and
increasing employment, registered total transaction volume of USD ~ million in 2013. On the