Juniper: Huawei & Visa Lead In Money Transfer
Juniper Research Reveals 41% Surge! From mobile money in developing regions to instant payments in the EU
Juniper Research, a renowned authority in the field of payments markets, has recently conducted a study that highlights a significant surge in the value of digital money transfer and remittances transactions. Projections indicate a remarkable 41% increase over the next four years, with the total value soaring from $4.5 trillion in 2028. This impressive growth can be primarily attributed to the widespread adoption of digital money transfer solutions in developing regions, facilitated by platforms like mobile money. Furthermore, the rapid adoption of instant payments in developed markets, such as the European Union, plays a crucial role in driving this growth.
In their latest report titled "Global Money Transfer & Remittances Market 2024-2028," Juniper Research provides deeper insights into this trend. The report emphasizes the pivotal role played by digital money transfer platforms in fueling this growth. It also highlights the increasing significance of instant payments and their impact on the overall market landscape.
The report introduces a new ranking system called the Competitor Leaderboard, which evaluates the top 15 digital money transfer platforms based on various criteria. These criteria include the comprehensiveness of their solutions, geographical reach, and future business prospects. According to the Competitor Leaderboard for 2024, the top five vendors are Huawei, Visa, Mastercard, Comviva, and PayPal.
The report states that these leading players have achieved high scores due to the breadth and innovation of their offerings. However, in order to maintain their competitive edge, vendors must focus on developing solutions that operate on a Payment-as-a-Service (PaaS) approach. This approach emphasizes the development of robust API offerings, enabling seamless integration of payments into various applications such as superapps.
