The US International, Domestic Money Remittance and Bill Payments Market Outlook to 2018
Tie-ups and Mobile Remittances to Foster Future Growth
May 2014
101
About the Report
About the Report
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 other hand, the bill payment market, driven by the increasing number of water, electricity, internet, cable TV and mobile connections, registered a transaction volume of USD ~ million. The inbound remittance market in the US declined at a negative CAGR of ~% from USD 5.3 billion in 2008 to USD ~ billion in 2013.
KEY TOPICS COVERED IN THE REPORT
- The market size of the US domestic remittance market.
- The market size of the US bill payment market.
- The market size of the US inward remittance market.
- The market size of the mobile remittance market.
- Market segmentation of the US domestic remittance market on the basis of contribution from the bank and the non-bank channel.
- Market segmentation of the US domestic remittance market on the basis of contribution from for different types of services.
- Market segmentation of the US bill payment market on the basis of category of bills paid.
- Market segmentation of the US bill payment market on the basis of contribution from different bill payment channels.
- Market segmentation of the US inward remittance market on the basis of contribution from different flow corridors.
- Market shares of major players in the non-bank and bank channel of the US domestic remittance market.
- Market shares of major consolidators and billers in the US bill payment market.
- Future outlook and projections of the US domestic remittance, inward remittance and the bill payment market in the US.
Products
Products
International remittance, inbound remittance, domestic remittance, bill payment, flow corridors, Migration Flows, Water and Electricity Bills, IPTV co
Companies
Wells Fargo, Citibank, US Bank, Chase (JPMorgan Chase), Western Union, MoneyGram International, Euronet, Xendpay, XOOM Corporation, Fiserv Inc, Fidelity National Information Services, Alacriti, Zumbox, Billeo
Table of Contents
Table of Contents
1. The US International and Domestic Money Transfer Market Introduction
2. The US Money Transfer Value Chain
3. The US Domestic Remittance Market Introduction
4. The US Domestic Remittance Market Size By Transaction Volume, 2008-2013
5. The US Domestic Remittance Market Segmentation, 2008-2013
5.1. By Major Channels: Banks & Non Banks, 2008-2013
5.1.1. Non Banks Segmentation by MTO's, Pawn Shops, credit Union and Others, 2008-2013
5.2. By Contribution of Different Services
5.2.1. Service Mix of Banks, 2008-2013
5.2.2. Service Mix of Non Banks, 2008-2013
5.3. State to State Migration Flows
6. Competitive Landscape - Domestic Money Remittance
6.1. Market Share of Major Players in the Banking Channel, 2013
6.1.1. Service Positioning, Strategy and Key Performance Indicators
6.2. Market Share of Major Players in the Non Banking Channel, 2013
6.2.1. Service Positioning, Strategy and Key Performance Indicators
7. The US Domestic Remittance Market Future Outlook & Projections, 2014-2018
8. The US Mobile Remittance Market
8.1. Competitive Landscape of Major Players in the US Mobile Paymentand Remittance Market
9. The US Bill Payments Industry Introduction
9.1. Major Factors Driving the Bills Payment Market in the US
Number of Water and Electricity Connections
Increased Number of Mobile Bill Payments
Number of Cable TV, IPTV and Satellite Subscribers
Broadband Subscriptions
10. The US Bill Payments Industry Market Size by Value, 2008-2013
11. The US Bill Payments Industry Market Segmentation
11.1. By Category of Bills Paid, 2008-2013
11.2. By Payment Channels, 2008-2013
12. Bills Payment Transaction Fees Comparison
13. Market Share of Major Players in the US Bills Payment Market
13.1. By Consolidators, 2012
13.2. By Biller Services, 2012
14. Competitive Landscape of The US Bills Payment Market
15. The US Bill Payments Market Future Outlook & Projections, 2014-2018
16. The US International Money Transfer Industry Market Introduction and Size
16.1. Major Flow Corridors, 2010-2013
17. Cause and Effect Relationship Analysis between Industry Factors and Expected Prospects in the US Money Transfer and Bills Payment Market
18. Government Regulations
19. Macro Economics and Industry Factors: Historical and Projections
19.1. Personal Disposable Income in the US, 2007-2018
19.2. Banked Households in the US, 2007-2018
19.3. Number of Domestic Migrants in The US, 2007-2018
19.4. Employed Population in the US, 2007-2018
20. Appendix
20.1. Market Definitions
20.2. Abbreviations
20.3. Research Methodology
Data Collection Methods
Approach
Variables (Dependent and Independent)
Final Conclusion
20.4. Disclaimer
List of Figure
Figure 1: Process for a Remittance Transaction effected through Banking Channel
Figure 2: Process for an International Remittance Transaction Conducted Through a MTO agent
Figure 3: Fund Movement for an MTO
Figure 4: The US Domestic Remittance Market Size on the Basis of Transaction Volume in USD Billion, 2008-2013
Figure 5: The US Domestic Remittance Market Segmentation on the Basis of Transaction Volume from Banking Channel and Non-Banking Channel in Percentage, 2008-2013
Figure 6: The US Domestic Remittance Market Non Banking Channel Segmentation by Types of Service Providers on the Basis Transaction Volume in Percentage, 2008-2013
Figure 7: Types of Services Available in the Bank Channel along with their contribution on the Basis of Transaction Volume in Percentage, 2013
Figure 8: Types of Services Available in the Non-Bank Channel along with their contribution on the Basis of Transaction Volume in Percentage, 2013
Figure 9: Market Share of Major Banks Operating in the US Domestic Money Transfer on the basis of Transaction Volume in Percentage, 2013
Figure 10: Market Share of Major MTO's Operating in the US Domestic Money Transfer on the Basis of Transaction Volume in Percentage, 2013
Figure 11: The US Domestic Remittance Future Projections on the Basis of Transaction Volume in USD Billion, 2014-2018
Figure 12: The US Mobile Payments Market Size and Future Projections on the Basis of transaction Volume in USD Billion and Share of Mobile Remittances to the Mobile Payments Market in Percentage, 2012-2018
Figure 13: The US Mobile Remittance Market Size and Future Projections in USD Million, 2012-2018
Figure 14: Number of Mobile Cellular Subscriptions in the US in Million, 2007-2013
Figure 15: Number of US Pay TV Subscribers by Technology in Million, 2011-2012
Figure 16: Number of Fixed (Wired) Broadband Subscriptions in the US in Million, 2007-2013
Figure 17: The US Bills Payment Market Size on the Basis of Number of Transactions in Million and Transaction Volume in USD Billion, 2008-2013
Figure 18: The US Bills Payment Market Segmentation by Types of Bills Paid on the Basis of Transaction Volume in Percentage, 2008-2013
Figure 19: Segmentation of Utility Bills by Electricity Bill, Water & Other Public Service Bill and Natural Gas Bill on the Basis of Transaction Volume in Percentage, 2013
Figure 20: Business Model for Biller's Direct Segment of the US Bills Payment Market
Figure 21: Business Model for Consolidator Segment of the US Bills Payment Market
Figure 22: Market Share of Major Players in the Consolidated Segment of the Bills payment Market in the US on the Basis of Revenues in Percentage, 2012
Figure 23: Market share of Major Players in the Biller's Direct Segment of the Bill Payment Market in the US, on the basis of Revenues in Percentage, 2012
Figure 24: The US Bill Payment Market Future Outlook and Projections on the Basis of Bill Payment Transaction Volume in USD Billion, 2014-2018
Figure 25: The US Inbound Remittances Market Size and Future Projections on the Basis of Transaction Volume in USD Million, 2008-2013
Figure 26: The US International Remittance Market Segmentation on the basis of Inflows from Major Flow Corridors in Percentage, 2010-2013
Figure 27: The US Personal Disposable Income in USD Million, 2007-2018
Figure 28: Banked Households in the US in Million, 2007-2018
Figure 29: Number of Domestic Migrants in the US in Million, 2007-2018
Figure 30: The Employed Population in the US in Million, 2007-2018
List of Table
Table 1: The US Domestic Remittance Market Segmentation on the Basis of Transaction Volume from Banking Channel and Non-Banking Channel in USD Billion, 2008-2013
Table 2: The US Domestic Remittance Market Non Banking Channel Segmentation by Types of Service Providers on the Basis of Transaction Volume in USD Million, 2008-2013
Table 3: State-to-State Migration in the US, Showcasing Top Five Preferred States with Number of Arriving and Departing Migrants, 2012
Table 4: State-to-State Migration in the US, Showcasing Top Five Least Preferred States with Number of Arriving and Departing Migrants, 2012
Table 5: Unemployment Rates of the Most Preferred and Least Preferred States for Migration in the US, as of February 2014
Table 6: Competitive Landscape of Major Banks operating in the US International and Domestic Remittance Market
Table 7: Wires Transfer Fees Charged by Top 10 Banks for Inbound and Outbound Domestic Transfers within the US in USD, 2013
Table 8: Competitive Landscape of the US Domestic and International Remittance Market
Table 9: Competitive Landscape of Major Players in the US Mobile Payment and Remittance Market
Table 10: Number of Electricity Consumers, Average Monthly Electricity Consumption in Kilowatt and Average Monthly Electricity Bill in USD, 2012
Table 11: The US Bills Payment Market Segmentation by Types of Bills Paid on the Basis of Transaction Volume in USD Billion, 2008-2013
Table 12: Category Wise Bills Payments in the US, 2012
Table 13: Description and Target Consumers for various Payment Channels in the US
Table 14: The US Bills Payment Market Segmentation by Contribution of Different Payment Channels on the Basis of Transaction Volume in Percentage, 2011-2013
Table 15: The US Bills Payment Market Segmentation by Contribution of Different Payment Channels in on the Basis of Transaction Volume in USD Billion, 2011-2013
Table 16: Bill Payment Transaction Fee Comparison of Different Convenience Stores in the US, 2013
Table 17: Competitive Landscape of Major Players (Fiserv, Fidelity National Information Services, Alacriti, Western Union, Manilla, Zumbox, Billeo) in the US Bills Payment Market
Table 18: The US International Remittance Market Segmentation on the basis of Inflows from Major Flow Corridors in USD Million, 2010-2013
Table 19: Major Destination and the Number of Immigrants Originating from the US as of mid, 2013
Table 20: Cause and Effect Relationship Analysis between Industry Factors and Expected Prospects in the US Money Transfer and Bills Payment Market
Table 21: The Most and Least Preferred States for Domestic Migration in the US, 2012
Table 22: Correlation Matrix of the US Domestic Remittance Market
Table 23: Regression Coefficients Output
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