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  5. Remittance Software Market Analysis - By Software (Web-based, and App based) By Deployment Type (Clo
Global Remittance Software Market size and Growth Analysis 2025

Remittance Software Market Analysis - By Software (Web-based, and App based) By Deployment Type (Cloud, and On-premise) By Application (Personal Remittance, Business Remittance, Public Services Remittance) By Geography (North America, Europe, Asia Pacific, South and Central America, Middle East and Africa) – Size, share, trends, growth and Global Forecast to 2025

  • ID : 707909414  |  
  • Published : Mar-2018  |  
  • Region : Global  |  
  • Pages : 163   |  
  • Publisher : The Insight Partners

Global Remittance Software Market Size:                  

Remittance Software market is expected to grow US$ 3323.41 Mn by 2025 from US$ 1279.64 Mn in 2017. Cloud deployment model expected to continue its dominance as well as currently almost 61% of the Remittance Software deployments are on cloud. Cloud models are most preferred by large organizations to store, manage and share efficiently the critical and sensitive data. Lesser investments and easy integration with the systems have made the adoption of cloud deployment model more attractive among large enterprises.

Key trend which will predominantly affect the market in coming year is remittance software market is rising due to increasing number of migrants across the globe and smartphones penetration in developing countries. The needs and wants of customer increase each passing day modernization and innovation in traditionally used methods for remittance took place for gaining customer retention and loyalty. The companies that survive in the ecosystem would be on account of innovations and to support the digital workplace. The Remittance Software vendors would be classified in a broader category and be acquired by players who want to add remittance software as feature to their larger platform of technology. In addition to this, the market is highly fragmented market with the top ten companies accounting for approximately 20% of the market share. Less entry barriers to enter the business has favored the influx of many small companies into this business. The existing business models that were the brick-and-mortar stores are anticipated to face huge pressures from digital modes of money transfer. Also, the market saturations in the advanced countries of the world would lead to players tapping opportunities in the Sub-Saharan African regions as well as some of the developing Asian economies.

Remittance Software market by application is segmented into personal remittance software, business remittance software, and public remittance software. The propagation of smart phone across the globe and reduction in remittance cost in recent years are some of the trends contributing to the emerging remittance software market. Almost all the industry verticals are increasingly demanding remittance software capabilities that is less time-consuming mode for money transfer and secured.

The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview was conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the remittance software industry.

Global Remittance Software Market Analysis – Segmentation:

Global Remittance Software Market Analysis - By Software:

  • Web-based

  • App based

Global Remittance Software Market Analysis - By Deployment Type:

  • Cloud

  • On-premise

Global Remittance Software Market Analysis - By Application:

  • Personal Remittance

  • Business Remittance

  • Public Services Remittance

Global Remittance Software Market Analysis - By Region:

  • North America

  • Europe

  • Asia Pacific

  • South and Central America

  • Middle East and Africa

Leading Companies in the Global Remittance Software Market Size:

  • Remit One Ltd.

  • Remit Anywhere 

  • FinCode Ltd. 

  • MTS 

  • Girmiti Software Private Limited

  • Grey Systems 

  • ControlBox Corp 

  • NextGen Systems UK Limited

  • Fiserv, Inc.

  • Daemon Software.

1 Table of Contents 2 

1.1 List of Tables 9 

1.2 List of Figures 11 

2 Introduction 14 

2.1 Scope of the Study 14 

2.2 The Insight Partners Research Report Guidance 14 

3 Key Takeaways 16 

4 Market Landscape 19 

4.1 Market Overview 19 

4.2 Market Segmentation 21 

4.2.1 Global Remittance Software Market – By Software 22 

4.2.2 Global Remittance Software Market – By Deployment Type 23 

4.2.3 Global Remittance Software Market – By Application 23 

4.2.4 Global Remittance Software Market – By Geography 23 

4.3 PEST Analysis 25 

4.3.1 North America PEST Analysis 25 

4.3.2 Europe PEST Analysis 27 

4.3.3 Asia Pacific PEST Analysis 30 

4.3.4 Middle East & Africa PEST Analysis 33 

4.3.5 South America PEST Analysis 36 

5 Global Remittance Software Market – Key Industry Dynamics 38 

5.1 Key Market Drivers 38 

5.1.1 Proliferation in Adoption of Mobile App based Remittance Service 38 

5.1.2 Increasing Number of Migrants 39 

5.1.3 Decline in Remittance Cost 39 

5.2 Key Market Restraints 40 

5.2.1 Limited Money Distribution Methods 40 

5.2.2 Cyber Security Concern 40 

5.3 Key Market Opporunities 41 

5.3.1 Emergence of New Technologies 41 

5.3.2 Focusing on Customer Experience 41 

5.4 Future Trends 41 

5.4.1 Emerging Economies Gain More Prominence 42 

5.5 Impact Analysis of Drivers and Restraints 43 

6 Remittance Software Market – Global 44 

6.1 Global Remittance Software Market Overview 44 

6.2 Global Remittance Software Market Forecast and Analysis 45 

7 Global Remittance Software Market Analysis – By Software 46 

7.1 Overview 46 

7.2 Web-Based Software 47 

7.2.1 Overview 47 

7.2.2 Global Web-Based Software Market Revenue and Forecasts to 2025 (US$ Mn) 47 

7.3 Application Based Software 49 

7.3.1 Overview 49 

7.3.2 Global Application Based Software Market Revenue and Forecasts to 2025 (US$ Mn) 49 

8 Global Remittance Software Market Analysis – By Deployment Type 51 

8.1 Overview 51 

8.2 On-Premise Deployment Type 52 

8.2.1 Overview 52 

8.2.2 Global On-Premise Deployment Market Revenue and Forecasts to 2025 (US$ Mn) 52 

8.3 Cloud Deployment Type 53 

8.3.1 Overview 53 

8.3.2 Global Cloud Deployment Market Revenue and Forecasts to 2025 (US$ Mn) 53 

9 Global Remittance Software Market Analysis – By Application 55 

9.1 Overview 55 

9.2 Personal Remittance Software 56 

9.2.1 Overview 56 

9.2.2 Global Personal Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 56 

9.3 Business Remittance Software 57 

9.3.1 Overview 57 

9.3.2 Global Business Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 57 

9.4 Public Remittance Software 58 

9.4.1 Overview 58 

9.4.2 Global Public Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 58 

10 Global Remittance Software Market – Geographical Analysis 59 

10.1 Overview 59 

10.2 North America Remittance Software Market Revenue and Forecasts to 2025 60 

10.2.1 Overview 60 

10.2.2 North America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 61 

10.2.3 North America Remittance Software Market Breakdown by Key Countries 62 

10.2.3.1 U.S. Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 63 

10.2.3.2 Canada Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 64 

10.2.3.3 Mexico Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 65 

10.2.4 North America Remittance Software Market Breakdown by Software 66 

10.2.5 North America Remittance Software Market Breakdown by Deployment Type 67 

10.2.6 North America Remittance Software Market Breakdown by Application 68 

10.3 Europe Remittance Software Market Revenue and Forecasts to 2025 70 

10.3.1 Overview 70 

10.3.2 Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 71 

10.3.3 Europe Remittance Software Market Breakdown by Key Countries 72 

10.3.3.1 France Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 73 

10.3.3.2 Germany Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 74

10.3.3.3 Italy Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 75 

10.3.3.4 Spain Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 76 

10.3.3.5 UK Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 77 

10.3.3.6 Rest of Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 78

10.3.4 Europe Remittance Software Market Breakdown by Software 79 

10.3.5 Europe Remittance Software Market Breakdown by Deployment Type 80 

10.3.6 Europe Remittance Software Market Breakdown by Application 81 

10.4 Asia Pacific (APAC) Remittance Software Market Revenue and Forecasts to 2025 83 

10.4.1 Overview 83 

10.4.2 Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 84 

10.4.3 Asia Pacific Remittance Software Market Breakdown by Key Countries 85 

10.4.3.1 Japan Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 86 

10.4.3.2 China Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 87 

10.4.3.3 India Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 88 

10.4.3.4 Australia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 89

10.4.3.5 Rest of APAC Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 90

10.4.4 Asia Pacific Remittance Software Market Breakdown by Software 91 

10.4.5 Asia Pacific Remittance Software Market Breakdown by Deployment Type 92 

10.4.6 Asia Pacific Remittance Software Market Breakdown by Application 93 

10.5 Middle East & Africa (MEA) Remittance Software Market Revenue and Forecasts to 2025 95 

10.5.1 Overview 95 

10.5.2 Middle East & Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 96 

10.5.3 Middle East & Africa Remittance Software Market Breakdown by Key Countries 97 

10.5.3.1 Saudi Arabia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 98

10.5.3.2 UAE Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 99 

10.5.3.3 South Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 100

10.5.4 Middle East and Africa Remittance Software Market Breakdown by Software 101 

10.5.5 Middle East and Africa Remittance Software Market Breakdown by Deployment Type 102 

10.5.6 Middle East and Africa Remittance Software Market Breakdown by Application 103 

10.6 South America Remittance Software Market Revenue and Forecasts to 2025 105 

10.6.1 Overview 105 

10.6.2 South America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 105 

10.6.3 South America Remittance Software Market Breakdown by Key Countries 107 

10.6.3.1 Brazil Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 108 

10.6.4 South America Remittance Software Market Breakdown by Software 109 

10.6.5 South America Remittance Software Market Breakdown by Deployment Type 110 

10.6.6 South America Remittance Software Market Breakdown by Application 111 

11 Industry Landscape 113 

11.1 Market Initiatives 113 

11.2 Merger & Acquisitions 115 

11.3 Investment Scenario 116 

12 Competitive Landscape 117 

12.1 Competitive Product Mapping 117 

12.2 Market Positioning – Global Top 5 Players Ranking 119 

13 Global Remittance Software Market – Key Company Profiles 120 

13.1 ControlBox Corp. 120 

13.1.1 Key Facts 120 

13.1.2 Business Description 120 

13.1.3 Financial Overview 121 

13.1.4 SWOT Analysis 121 

13.1.5 Key Developments 122 

13.2 Daemon Enterprise Private Limited 123 

13.2.1 Key Facts 123 

13.2.2 Business Description 123 

13.2.3 Financial Overview 124 

13.2.4 SWOT Analysis 124 

13.2.5 Key Developments 125 

13.3 FinCode Ltd. 126 

13.3.1 Key Facts 126 

13.3.2 Business Description 126 

13.3.3 Financial Overview 127 

13.3.4 SWOT Analysis 127 

13.3.5 Key Developments 129 

13.4 Fiserv, Inc. 130 

13.4.1 Key Facts 130 

13.4.2 Business Description 130 

13.4.3 Financial Overview 131 

13.4.4 SWOT Analysis 132 

13.4.5 Key Developments 134 

13.5 Girmiti Software Pvt. Ltd. 135 

13.5.1 Key Facts 135 

13.5.2 Business Description 135 

13.5.3 Financial Overview 135 

13.5.4 SWOT Analysis 136 

13.5.5 Key Developments 137 

13.6 Grey Systems 138 

13.6.1 Key Facts 138 

13.6.2 Business Description 138 

13.6.3 Financial Overview 138 

13.6.4 SWOT Analysis 139 

13.6.5 Key Developments 140 

13.7 White Wings Technologies (MTS) 141 

13.7.1 Key Facts 141 

13.7.2 Business Description 141 

13.7.3 Financial Overview 141 

13.7.4 SWOT Analysis 142 

13.7.5 Key Developments 143 

13.8 Xoom (PayPal Holdings, Inc.) 144 

13.8.1 Key Facts 144 

13.8.2 Business Description 144 

13.8.3 Financial Overview 145 

13.8.4 SWOT Analysis 146 

13.8.5 Key Developments 148 

13.9 RemitOne Ltd 149 

13.9.1 Key Facts 149 

13.9.2 Business Description 149 

13.9.3 Financial Overview 150 

13.9.4 SWOT Analysis 150 

13.9.5 Key Developments 151 

13.1 World Remit 153 

13.10.1 Key Facts 153 

13.10.2 Business Description 153 

13.10.3 Financial Overview 153 

13.10.4 SWOT Analysis 154 

13.10.5 Key Developments 155 

14 Appendix 157 

14.1 About The Insight Partners 157 

14.2 Glossary of Terms 158 

14.3 Methodology 160 

14.3.1 Coverage 160 

14.3.2 Secondary Research 160 

14.3.3 Primary Research 161 

14.4 Contact Us 162 

14.5 Disclaimer 162 

1.1 List of Tables 

Table 1: Global Remittance Software Market Revenue and Forecasts to 2025 (US$ Bn) 45 

Table 2: North America Remittance Software Market Revenue and Forecasts to 2025 – By Software (US$ Mn) 66 

Table 3: North America Remittance Software Market Revenue and Forecasts to 2025 – By Deployment Type (US$ Mn) 67 

Table 4: North America Remittance Software Market Revenue and Forecasts to 2025 – By Application (US$ Mn) 69 

Table 5: Europe Remittance Software Market Revenue and Forecasts to 2025 – By Software (US$ Mn) 79 

Table 6: Europe Remittance Software Market Revenue and Forecasts to 2025 – By Deployment Type (US$ Mn) 80 

Table 7: Europe Remittance Software Market Revenue and Forecasts to 2025 – By Application (US$ Mn) 81 

Table 8: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 – By Software (US$ Mn) 91 

Table 9: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 – By Deployment Type (US$ Mn) 92 

Table 10: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 – By Application (US$ Mn) 94 

Table 11: Middle East and Africa Remittance Software Market Revenue and Forecasts to 2025 – By Software (US$ Mn) 101 

Table 12: Middle East and Africa Remittance Software Market Revenue and Forecasts to 2025 – By Deployment Type (US$ Mn) 102 

Table 13: Middle East and Africa Remittance Software Market Revenue and Forecasts to 2025 – By Application (US$ Mn) 104 

Table 14: South America Remittance Software Market Revenue and Forecasts to 2025 – By Software (US$ Mn) 109 

Table 15: South America Remittance Software Market Revenue and Forecasts to 2025 – By Deployment Type (US$ Mn) 110 

Table 16: South America Remittance Software Market Revenue and Forecasts to 2025 – By Application (US$ Mn) 112 

Table 17: Glossary of Terms, Remittance Software Market 158 

1.2 List of Figures 

Figure 1: Remittance Software Market, South America Revenue for App based Software (US$ Mn), 2017 & 2025 17 

Figure 2: APAC Remittance Software Market, Global Revenue (US$ Mn), 2016 & 2025 18 

Figure 3: Remittance Software Market Segmentation 21 

Figure 4: Remittance Software Market Segmentation 22 

Figure 6: North America PEST Analysis 25 

Figure 7: Europe PEST Analysis 27 

Figure 8: APAC PEST Analysis 30 

Figure 9: MEA PEST Analysis 33 

Figure 10: SAM PEST Analysis 36 

Figure 10: Remittance Software Market Impact Analysis of Driver and Restraints 43 

Figure 11: Global Remittance Software Market 44 

Figure 12: Global Remittance Software Market Breakdown By Software, 2017 & 2025 (%) 46 

Figure 13: Global Web-Based Software Market Revenue and Forecasts to 2025 (US$ Mn) 48 

Figure 14: Global Application Based Software Market Revenue and Forecasts to 2025 (US$ Mn) 50 

Figure 15: Global Remittance Software Market Breakdown By Deployment Type, 2017 & 2025 (%) 51 

Figure 16: Global On-Premise Deployment Market Revenue and Forecasts to 2025 (US$ Mn) 52 

Figure 17: Global Cloud Deployment Type Market Revenue and Forecasts to 2025 (US$ Mn) 54 

Figure 18: Global Remittance Software Market Breakdown By Application, 2017 & 2025 (%) 55 

Figure 19: Global Personal Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 56 

Figure 20: Global Business Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 57 

Figure 21: Global Public Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 58 

Figure 22: Remittance Software Market, Global Breakdown by Regions, 2017 & 2025 (%) 59 

Figure 23: North America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 61 

Figure 24: North America Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%) 62 

Figure 25: U.S. Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 63 

Figure 26: Canada Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 64 

Figure 27: Mexico Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 65 

Figure 28: North America Remittance Software Market Breakdown by Software, 2017 & 2025 (%) 66 

Figure 29: North America Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%) 67 

Figure 30: North America Remittance Software Market Breakdown by Application, 2017 & 2025 (%) 68 

Figure 31: Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 71 

Figure 32: Europe Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%) 72 

Figure 33: France Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 73 

Figure 34: Germany Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 74 

Figure 35: Italy Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 75 

Figure 36: Spain Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 76 

Figure 37: UK Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 77 

Figure 38: Rest of Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 78 

Figure 39: Europe Remittance Software Market Breakdown by Software, 2017 & 2025 (%) 79 

Figure 40: Europe Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%) 80 

Figure 41: Europe Remittance Software Market Breakdown by Application, 2017 & 2025 (%) 81 

Figure 42: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 84 

Figure 43: Asia Pacific Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%) 85 

Figure 44: Japan Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 86 

Figure 45: China Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 87 

Figure 46: India Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 88 

Figure 47: Australia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 89 

Figure 48: Rest of APAC Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 90 

Figure 49: Asia Pacific Remittance Software Market Breakdown by Software, 2017 & 2025 (%) 91 

Figure 50: Asia Pacific Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%) 92 

Figure 51: Asia Pacific Remittance Software Market Breakdown by Application, 2017 & 2025 (%) 93 

Figure 52: Middle East & Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 96 

Figure 53: Middle East & Africa Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%) 97 

Figure 54: Saudi Arabia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 98 

Figure 55: UAE Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 99 

Figure 56: South Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 100 

Figure 57: Middle East and Africa Remittance Software Market Breakdown by Software, 2017 & 2025 (%) 101 

Figure 58: Middle East and Africa Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%) 102 

Figure 59: Middle East and Africa Remittance Software Market Breakdown by Application, 2017 & 2025 (%) 103 

Figure 60: South America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 106 

Figure 61: South America Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%) 107 

Figure 62: Brazil Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 108 

Figure 63: South America Remittance Software Market Breakdown by Software, 2017 & 2025 (%) 109 

Figure 64: South America Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%) 110 

Figure 65: South America Remittance Software Market Breakdown by Application, 2017 & 2025 (%) 111


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