Money Transfer Agencies Market 2024-2028: Size and Rising illicit financial flows; growth driven by the Service, Some of key Companies Positioned Strategically

The money transfer agencies market size by Service (Money transfer and Currency exchange) and Geography (North America, Europe, APAC, Middle East and Africa, and South America), is forecast to increase by USD 15846.7 million. The market is expected to grow at a CAGR of   11.54% between 2024 and 2028.

• The money transfer agencies market faces significant challenges from the increasing prevalence of illicit financial flows in the global economy. Illicit financial flows encompass funds derived from illegal activities, such as money laundering, tax evasion, and fraud. The proliferation of digital technologies and advanced information and communication networks has facilitated the growth of these illicit activities, enabling the transfer and concealment of funds with greater ease. Furthermore, these technologies provide opportunities for organized cybercrimes, corruption, and other forms of criminal activity, posing a significant hindrance to the growth of the money transfer agencies market during the forecast period.
• The Money Transfer Agencies market is experiencing significant growth due to increasing globalization and the need for seamless cross-border transactions. These agencies offer efficient solutions for businesses and individuals to transfer funds internationally. Key players in this sector leverage advanced technologies, such as blockchain and artificial intelligence, to ensure secure and swift transactions. Regulatory compliance and customer service are also critical factors driving market expansion.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• Azimo BV
• Bank of America Corp.
• Citigroup Inc.
• Denarii
• Euronet Worldwide Inc.
• Finablr Ltd.
• HDFC Bank Ltd.
• JPMorgan Chase and Co.
• MoneyGram Payment Systems Inc.
• NIUM Pte. Ltd.
• NOW Payment Services Provider LLC
• OzForex Ltd.
• PayPal Holdings Inc.
• Remitly Global Inc.
• Remitware Payments Canada Inc.
• Sendah Direct
• TransferGo Ltd.
• U.S. Bancorp
• Wells Fargo and Co.
• Western Union Holdings Inc.
• Wise Payments Ltd.
• WorldRemit Ltd.

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