Online Retail, Online Women Apparel, Online Men Apparel, Online Footwear Market

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Philippines Domestic and International Money
Transfer Industry Outlook to 2019
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• Philippines Domestic and International Money
  Transfer Industry Outlook to 2019 provides a
  comprehensive analysis of international and
  domestic remittances in the Philippines. The
  report covers various aspects such as market size
  on the basis of total volume of domestic and
  international remittances and bills paid. The
  report is useful for industry consultants,
  remittance service providers (MTOs), banks, local
  agents and other stakeholders to align their
  market centric strategies according to ongoing
  and expected trends in the future.

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Domestic Remittance Market

• The market for domestic money transfers in the
  Philippines is exceedingly dynamic and has been
  maturing since the past decade. Domestic money
  transfers encompass both remote money remittances
  and payment of bills. The domestic remittance
  space in Philippines has largely been a
  cash-to-cash market, with the money flowing from
  several informal modes of payment such as
  friends, family, drivers and others. As majority
  of the population in the Philippines has
  continued to remain un-banked, coupled with the
  fact that cash-to-cash mode of payment is not
  fitting to banks' transaction services,

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• regulatory and compliance structure, a large
  portion of the countrys inhabitants continue to
  resort to exchange of hard cash. The total market
  for domestic remittances was valued at USD
  million in 2014 with around million
  transactions. In-country Filipinos, characterized
  by domestic migrants who have moved for better
  economic and employment opportunities and
  permanent residents together, accounted for
  approximately 80 of the total domestic
  remittances.

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• Only of the total number of domestic
  remittance transactions was accounted by the
  banking channel in 2014. Of this, a significant
  proportion of the money transfers took place in
  urban areas in 2014. Lack of banking offices in
  several regions in Philippines has led to the
  emergence and growth of several other financial
  service providers (FSPs) such as pawnshops, money
  changers (MCs), money transfer companies,
  remittance agents (RAs) and FX dealers. Major
  players in the domestic remittance market
  includes Palawan Pawnshop, LBC Express, Western
  Union, M Lhuilier, Cebuana Lhuilier, Banco de Oro
  Unibank, Pinoy Express, iRemit and others

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Domestic Bill Payment Market

• The bill payment market in the Philippines was
  recorded at USD million, in terms of volume of
  transactions taking place in 2014. Bill payment
  transaction volume has grown at a CAGR of from
  USD million in 2009. The total number of bills
  paid was million in 2009 which has grown to
  million in 2014 at a CAGR of . A greater
  proportion of the bill payment has been utilized
  for the payment of utilities such as water and
  electricity.

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• Convenience stores such as 7-Eleven and Ministop
  were responsible for of the total bill
  payments in the Philippines in 2014. Owing to the
  greater reach and accessibility, convenience
  stores have dominated the bill payment landscape
  in the Philippines over the past many years. A
  noteworthy chunk of the population in the country
  has preferred to pay bills in cash directly at
  the biller offices with biller business offices
  registering a share of in 2014.

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International Remittance Market

• The Philippines international remittance market
  registered a total of USD million in inbound
  remittances from other countries in 2014 and
  showcased an annual growth rate of from 2013.
  The total remittances from OFWs accounted for
  of the countrys overall economic output in 2014.
  Stable progress in the diversity and coverage of
  global remittance networks has enabled OFWs to
  remit money at a reasonable cost of services
  which include automated teller machines,
  web-based services, and reusable/reloadable cash
  cards.

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• Remittances also exhibit an increase amid the
  holiday season especially in December as overseas
  Filipino workers send more money back home for
  Christmas festivities, gifts and other holiday
  related expenses.
• With a market share , Banco de Oro was the
  largest bank in the Philippines remittance market
  in 2014. The total volume of international
  remittances coursed through the bank was USD
  million in 2014.

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Key Topics Covered in the Report

• The market size of Philippines domestic
  remittance market.
• The market size of Philippines international
  remittance market.
• The market size of Philippines bill payment
  market.
• Market segmentation of Philippines domestic
  remittance market on the basis of major
  remittance channels, type of services and major
  flow corridors.
• Market segmentation of Philippines international
  remittance market on the basis of major flow
  corridors and average remittance transaction per
  OFW on the basis of occupation, place of work and
  mode of transfer.

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• Market segmentation of Philippines bill payment
  market on the basis of types of payment.
• Trends and Development in Philippines domestic
  and international remittance market.
• Entry barriers in Philippines domestic and
  international remittance market.
• Competitive landscape, market share, service
  positioning and strengths and weaknesses of major
  players in Philippines domestic and international
  remittance market.
• Future outlook and projections of Philippines
  domestic and international remittance market.

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• Related Reports https//www.kenresearch.com/banki
  ng-financial-services-and-insurance/financial-serv
  ices/philippines-remittance-market-research-report
  /2067-93.html
• ContactKen ResearchAnkur Gupta, Head
  Marketing CommunicationsAnkur_at_kenresearch.com
  91-9015378249
• Website www.kenresearch.com

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