Global Remittance Industry Set for Massive Shake-up

[kreslik.news]

The US$600 billion global money remittance industry is set for a massive shake-up in the wake of mergers and acquisitions among the big players and an onslaught of digital-savvy new players entering the market. In Australia, the domestic retail remittance industry, which is estimated to be worth about A$7 billion, is also feeling the heat with a number of online providers making aggressive moves to gain market share.

In particular, the retail money remittance industry is a top candidate for fintech disruption and innovation. As recently as a few years ago, many fintech companies had been focused on creating products and services for the ... (read more)