Is it a bird? Is it an airplane? No, it’s a great app – The key to successful money transfer apps

A new study by Juniper Research found that the volume of digital domestic money transfer payments will exceed 300 billion globally for the first time in 2026, up from 207 billion in 2022; representing growth of almost 50%.

Super apps, where multiple services including payment and financial transaction processing are available in a single app, are driving the digitization of payments previously cash-based, by including messaging and access to other services alongside payments are one of the main drivers.

China, USA and India will account for 74% of global transactions by 2026

The research predicts that the top three countries will account for just under 74% of global domestic digital money transfer transactions in 2026, identifying the top three usage markets as follows:

  1. China
  2. WE
  3. India

The lure of social payments, where payments are integrated into social platforms, has boosted transactions in all three countries. Pay WeChat in China and Venmo in the United States have been cited by research as examples of how social payments stimulate domestic remittances. The report recommends that money transfer providers identify the most popular social platforms in each country and aim to create partnerships that enable social payments.

Research co-author Damla Sat explained, “Money transfer providers should focus on the fastest growing markets to ensure the best return on investment, with Latin America and Western Europe identified as having the expected growth rates. the strongest.”

Difficult differentiation in a highly competitive market

The research identified differentiation as a key challenge for money transfer apps, especially given the highly competitive market landscape. The report identified the super app approach, where a marketplace of different services are offered within the app, as key to creating money transfer apps that deliver greater value for users. Therefore, he recommends that vendors integrate with other financial service providers and e-commerce merchants, to reinforce the unique user value that their applications represent.

  • Francis Bignel

    Francis is a journalist with a bachelor’s degree in classical civilization, he is particularly interested in North and South America.

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