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Global Automatic Transfer Money Market Report 2021: Customer inclination Towards Mobile Apps for Fund Transfer - Forecast to 2026 - ResearchAndMarkets.com

·4-min read

DUBLIN, October 19, 2021--(BUSINESS WIRE)--The "Global Automatic Transfer Money Market (2021-2026) by End User, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Automatic Transfer Money Market is estimated to be USD 25.3 Bn in 2021 and is expected to reach USD 37.69 Bn by 2026, growing at a CAGR of 8.3%.

Market Dynamics

The frequent movement of funds from a checking account to a savings account is often done by the automatic transfer money market. The factors increasing the growth of the market are putting up automatic transfers to pay bills is a handy accounting device since they can be used for periodic equal payments, such as for finances or other loan expenses, rise in customer preference for the mobile applications for fund transfer, and another widespread factor includes usage of these transfer for overdraft security.

Cybersecurity has become particularly essential among online deposits to avoid making automated information susceptible to destruction or theft. It can happen in a variety of forms, such as direct access attacks, contains bugs & viruses, backdoor attacks, and denial of service attacks. These are considered as the market restraints.

Market Segmentation

The Global Automatic Transfer Money Market is segmented further based on End User, and Geography.

By End User, the market is classified as Banks, NBFC, and individual customers. Amongst all, the Banks segment is estimated to hold the highest market share during the forecast period.

By Geography, North America is projected to lead the market.

Recent Developments

  • Paytm launches smartphone-based NFC payments for merchants.

  • NPCI to launch a new digital payments product for feature phones.

Company Profiles

Some of the companies covered in this report are Google pay, HDFC Bank Ltd., JPMorgan Chase Bank, Money Transfer System, MOVERFOCUS, etc.

Report Highlights:

  • A complete analysis of the market, including parent industry

  • Important market dynamics and trends

  • Market segmentation

  • Historical, current, and projected size of the market based on value and volume

  • Market shares and strategies of key players

  • Recommendations to companies for strengthening their foothold in the market

Key Topics Covered:

1 Report Description

2 Research Methodology

3 Executive Summary

3.1 Introduction

3.2 Market Size and Segmentation

3.3 Market Outlook

4 Market Influencers

4.1 Drivers

4.1.1 Growing Digitalization in the Banking Sector

4.1.2 Rising Banking Loan Approvals & Investment Services

4.1.3 Customer inclination Towards Mobile Apps for Fund Transfer

4.2 Restraints

4.2.1 Rising Number of Security Issues & Fraud in the Sector

4.3 Opportunities

4.3.1 Increasing Number of Saving Accounts

4.3.2 Development of Convenient and User-Friendly Platforms

4.4 Challenges

4.4.1 Customer Trust Issues & Acceptance in Low-Income Countries

4.5 Trends

5 Market Analysis

5.1 Regulatory Scenario

5.2 Porter's Five Forces Analysis

5.3 Impact of COVID-19

5.4 Ansoff Matrix Analysis

6 Global Automatic Transfer Money Market, By End User

6.1 Introduction

6.2 Banks

6.3 NBFC

6.4 Individual Customers

7 Global Automatic Transfer Money Market, By Geography

7.1 Introduction

8 Competitive Landscape

8.1 Competitive Quadrant

8.2 Market Share Analysis

8.3 Strategic Initiatives

9 Company Profiles

9.1 Artsyl RemittanceAction

9.2 Automatic Funds Transfer Services

9.3 Azimo

9.4 Bank of America Corporation

9.5 Canopus Remittance

9.6 Digital Federal Credit Union

9.7 FINSYNC

9.8 Google pay

9.9 HDFC Bank Ltd.

9.10 JPMorgan Chase Bank

9.11 Money Transfer System

9.12 MOVERFOCUS

9.13 mPayX - Money Transfer Software

9.14 N.A. by JPMorgan Chase & Co.

9.15 National Payments Corporation Of India

9.16 One Mobikwik System Pvt Ltd

9.17 Pangea USA, LLC

9.18 Paytm

9.19 Phonepay

9.20 Remitly

9.21 Skrill Limited

9.22 State Bank of India

9.23 The Balance

9.24 The PNC Financial Services Group, Inc.

9.25 TransferWise

9.26 Vayupay

For more information about this report visit https://www.researchandmarkets.com/r/cio55b

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019006007/en/

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