Brazil Remittance Market was led by Improvement in Lifestyle of Citizens, Increasing Penetration of MTOs and Rising Brazilian Immigrants in other Countries: Ken Research - PowerPoint PPT Presentation

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Brazil Remittance Market was led by Improvement in Lifestyle of Citizens, Increasing Penetration of MTOs and Rising Brazilian Immigrants in other Countries: Ken Research

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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. For more information on the research report, refer to below link: – PowerPoint PPT presentation

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Title: Brazil Remittance Market was led by Improvement in Lifestyle of Citizens, Increasing Penetration of MTOs and Rising Brazilian Immigrants in other Countries: Ken Research


1
Brazil Remittance Market was led by Improvement
in Lifestyle of Citizens, Increasing Penetration
of MTOs and Rising Brazilian Immigrants in other
Countries Ken Research
2
  • Growing internal migration in Brazil owing to
    better job opportunities, increasing family
    responsibilities and higher education have
    triggered the size of the domestic remittance
    industry in the country.
  • The remittance market of Brazil has witnessed a
    transactional change from traditional money
    transfer methods to digital payment methods. The
    digital payment market is evolving at a fast pace
    in the country. The last few years have witnessed
    heighten activities with the entry of several
    non-banking institutions offering online payment
    services and solutions. The money is majorly
    transferred through non banking institutions in
    the country which have widely spread their
    presence across the urban and rural areas in
    Brazil. The competition in the market has
    increased with the entry of many small and medium
    sized players offering online digital payment
    services to the clients but the remittance market
    in Brazil is dominated by large multinational
    players of which many have spread their services

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  • across more than 100 countries. Almost 40 of the
    Brazilian population is unbanked which has
    increased the dependence of the users on
    non-banking services and other MTOs.
  • The remittance industry in the country has
    witnessed a change from agent based business
    model to digital modes of money transfer. This
    trend is likely to continue in future with the
    proliferation of smart phones that makes online
    transfers more convenient and cheaper. The users
    have shifted from traditional methods such as
    money orders, telegrams and bank deposits to
    transfer through e-wallet and other online
    methods. The four electronic payment systems that
    are currently being used by aid agencies are
    pre-paid debit cards, smart cards, mobile money
    transfer systems and electronic vouchers. With
    the introduction of e-payment methods the users
    have discovered improved security, easy transfer,
    and better speed and reduced leakages. The
    digital payment modes have helped the immigrants
    to directly pay the utility bills rather

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than sending the money. The market of bill
payment has surged during the review period owing
to direct payment of bills through online
channels which has positively affected the
overall Brazil remittance market. 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 by Ken Research suggested that
growing immigration to foreign countries and
increasing urbanization for better job
opportunities will majorly account for the
overall transaction growth of Brazil remittance
market in next 5 years till 2022.
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Key Topics Covered in the Report Brazil
Remittance Brazil International Money
Transfer Number of Brazilian Immigrants
Worldwide Western Union Brazil Money Transfer in
Brazil Unbanked Population Brazil Money Transfer
Companies in Brazil International Immigrants
Brazil Internet User Population Brazil Transfer
Wise Transaction Volume For more information on
the research report, refer to below
link https//www.kenresearch.com/banking-financia
l-services-and-insurance/financial-services/brazil
-remittance-bill-payment-market/143003-93.html
6
Related Reports by Ken Research https//www.kenres
earch.com/banking-financial-services-and-insurance
/financial-services/nigeria-remittance-bill-paymen
t-market/142292-93.html https//www.kenresearch.c
om/banking-financial-services-and-insurance/financ
ial-services/russia-remittance-bill-payment-market
/142289-93.html https//www.kenresearch.com/banki
ng-financial-services-and-insurance/financial-serv
ices/uae-remittance-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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