Brazil Remittance Market Outlook to 2022: Ken Research - PowerPoint PPT Presentation

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Brazil Remittance Market Outlook to 2022: Ken Research

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The report concludes with future outlook and projections of Brazil remittance market, major macroeconomic indicators and upcoming trends affecting the market have also been highlighted in the report. For more information on the research report, refer to below link: – PowerPoint PPT presentation

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Title: Brazil Remittance Market Outlook to 2022: Ken Research


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Brazil Remittance Market Outlook to 2022 Ken
Research
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The report titled Brazil Remittance Market by
Inbound and Outbound International Remittance, by
Mode of Transfer (Electronic and Cash), by
Channel (Bank and Non-Bank), by Bill Payment
Methods (Cash, Credit/Debit Card/E-Wallet and
Electronic Transfers), by Types of Payment
(Grocery Bills, Utility Bills, Fuel Bills, DTH
and Broadband Bills and Mobile Recharge Bills)
and by Regions Outlook to 2022 provides a
comprehensive analysis of the remittance market
in Brazil.
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The report covers various aspects such as overall
market size of Brazil remittance market,
international remittance market, domestic
remittance market and bill payment market
segmentation on the basis of inbound outbound
international remittance, by major flow corridors
(United States, Japan, Germany and others), by
mode of transfer (electronic and cash), by
channel (bank and non-bank), by bill payment
methods (cash, credit/debit card/e-wallet and
electronic transfers), by types of payment
(grocery bills, utility bills, fuel bills, DTH
broadband bills and mobile recharge bills) and by
regions. The report also covers snapshot on
global remittance market, value chain analysis of
Brazil remittance bill payment market,
competitive scenario in the industry, SWOT
analysis, trends developments, issues and
challenges, regulatory scenario of Brazil
remittance market. The report also covers the
competitive landscape of the industry and
comprehensive profile of leading players (World
Remit, Western Union, Transfer Wise, Money Gram,
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  • RIA Money Transfer, XOOM Corporation, Currency
    Solutions, Small World) operating in the market.
  • The report concludes with future outlook and
    projections of Brazil remittance market, major
    macroeconomic indicators and upcoming trends
    affecting the market have also been highlighted
    in the report. The report also serves competitive
    scenario for each market which exists in
    remittance industry to get an in-depth
    understanding of remittance sector in Brazil.
  • Market Overview
  • Brazil Remittance and bill payment industry has
    witnessed a stellar growth in past few years.
    Remittance represents an important source of
    currency for the country and currently comprises
    of of the Brazils GDP. Rising Brazilian
    immigrants in other countries, better job
    opportunities, high salary and low employment
    rate in Brazil has attributed in the increasing
    market size of the industry.

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Brazil remittance industry is highly fragmented
with presence of large number of domestic as well
as international players. The remittance fund is
transferred through different payment modes like
online payment, account to account, cash/ cheque,
money orders and others. In terms of transaction
volume, Brazil remittance industry augmented from
USD million during 2012 to USD million during
2017 at a CAGR of during 2012-2017.
International remittance market has majorly
dominated the remittance industry in Brazil. The
inflow of remittance fund from other countries to
Brazil has contributed largely in the revenues of
the market. The US is the major contributor in
the remittance fund with the percentage share of
in terms of transaction volume in 2017. Rising
industrialization, entry of foreign players in
the country and improvement in job opportunities
has majorly triggered Brazil remittance market
during the review period. Major players in Brazil
remittance market include World Remit, Western
Union, Transfer Wise and others.
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Brazil International Remittance
Market International remittance is the transfer
of money from a migrant worker to their families
or other parties who are living in some other
country, which generally is the migrant workers
home country. During 2017, Brazilians working
overseas send over USD million to their
families. The growth of the remittance industry
in the country has been majorly driven by the
large number of Brazilian workers who have
changed their residence to countries with higher
paying job opportunities. The US has majorly
contributed in the transaction volume of
remittance in the country. In 2017, the US
contributed (USD million) in the transaction
volume of remittance in Brazil. The growth of
international remittance is aided with the growth
of new technology and expansion of new services
by money transferring agencies.
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  • Brazil International Remittance Market
    Segmentation
  • By Inbound and Outbound Remittance International
    Remittance in Brazil is majorly dominated by
    inflow of remittance from other countries to
    Brazil. The increasing Brazilian population in
    other countries in search of better job
    opportunities and high salary has contributed to
    the rising size of the remittance industry.
    Inbound remittance accounted for a share of
    (USD million) of the overall transaction volume
    during 2017. Outflow of remittance in the country
    is less as compared to inflow because of low
    migration of foreign workers in the country.
    Outbound remittance has accounted for a share of
    (USD million) during 2017.
  • By Channel (Bank and Non-Bank) Non-bank channel
    in Brazil majorly consists of the money transfer
    agencies, local merchants and exchange houses.
    Non-bank channels have accounted for a major
    chunk of overall transactions, accounting for
    (USD million) of the total transaction volume
    during 2017. Bank as a

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  • channel is preferred owing to security but huge
    unbanked population in the country and less
    penetration of banks in rural areas has resulted
    in dominance of non-banking channels for
    remittance in the country. Banks have accounted
    for a share of (USD million) of the overall
    transaction volume during 2017.
  • Brazil Domestic Remittance
  • Brazil has a disparity in terms of developed and
    developing cities across the country which has
    results in massive internal migration of skilled
    and unskilled labor to the developed cities that
    offer better wages and standard of living. Urban
    cities of the country have witnessed huge
    population growth which has attracted higher
    investments into the region leading to creation
    of even more job opportunities. However, since
    the average salaries being paid in these
    industrial belts and developed areas is much
    higher that what can be earned in the
    underdeveloped areas, the workers support their
    families by regularly remitting money back home
    as their

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  • income is on the higher side as compared to what
    their families earn. Money order and telegraph
    majorly contribute in total transaction of
    domestic remittance. Telegraph and money order
    are the traditional, very popular and the safest
    way for transferring money from one place to
    another. Banks also account for a major share of
    overall transaction volume during 2017. Other
    modes of domestic remittance include e-wallet
    operators and money transfer operators.
  • Brazil Bill Payment Market
  • Large number of businesses has been set up to
    cater to the needs and demands of the Brazilian
    population working outside the country. Companies
    like Xoom, Money Gram and others offer cheap and
    easy ways for customers to pay their bills
    directly rather than initially remitting money to
    their home and then the residents of their home
    making the payment. The growth of e-payments in
    the country supported by growing penetration of
    internet has made it easy for the users to pay
    bills online through various operators. The major
    target

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  • segments of the bill payment companies include
    cash-based and unbanked customers within Brazil.
    Brazil has made progress in improvement in
    quality of life of its citizens which has
    increased consumption of electricity, broadband,
    mobile recharge and other facilities. Major types
    of bills include grocery bills, utility bills,
    fuel bills, DTH broadband bills and mobile
    recharge bills.
  • Future Outlook of Brazil Remittance and Bill
    Payment Market
  • It is expected that Brazil remittance and bill
    payment market in future will grow at a descent
    growth rate, augmenting to USD million during
    2022 rising from USD million during 2018 at a
    CAGR of during 2018-2022. Brazil is expected
    to witness rise in job opportunities and better
    wages in developed regions which will attract
    residents from various cities to move to urban
    areas for work. It is believed that companies and
    banks will expand their network in coming future
    in order to be easily accessible to the
    customers. It is anticipated that international
    remittance in the country will increase

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  • at a good pace with the economic growth and
    development of Brazil. The rising Brazilian
    immigrants in foreign countries will result in
    increase in number of transactions from other
    countries to Brazil. Additionally, with the
    growth of immigrants worldwide, increasing use of
    technology and growing internet penetration will
    drive the remittance market in upcoming years.
  • Key Topics Covered in the Report
  • Money Transfer Companies in Brazil
  • International Immigrants Brazil
  • Internet User Population Brazil
  • Brazil International Money Transfer
  • Brazil Remittance
  • Western Union Brazil
  • Money Transfer in Brazil
  • Number of Brazilian Immigrants Worldwide

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  • For more information on the research report,
    refer to below link
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/financial-services/brazil-remit
    tance-bill-payment-market/143003-93.html
  • Related Reports by Ken Research
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/financial-services/nigeria-remi
    ttance-bill-payment-market/142292-93.html
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/financial-services/russia-remit
    tance-bill-payment-market/142289-93.html
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/financial-services/uae-remittan
    ce-bill-payment-market/110397-93.html

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Contact Ken Research Ankur Gupta, Head
Marketing Communications sales_at_kenresearch.com
91-124-4230204
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