FOR IMMEDIATE RELEASE
Pressnews.biz (Press Release) Feb 16, 2015
-- • Malaysia Remittance Industry is expected to record outflows of USD 28.8 billion by 2019
• Rise of international and domestic migration to lead the way for the industry in the coming years.
• Bill Payment industry in Malaysia expected to reach USD 94.0 billion by 2019
• Mobile Payment Industry in Malaysia is anticipated to reach USD 2.9 Billion by 2019.
Ken Research announced its latest publication on “Malaysia Remittance Industry Outlook to 2019”
which provides a comprehensive analysis of Remittance and Bill Payment Industry in Malaysia. The report covers various aspects such as market size of Malaysia Remittance and Bill Payment industry and segmentation on the basis of major flow corridors, payment channel, interstate and intra state migration and outflows and inflows of remittance. The report will help industry consultants, potential entrants, vendors and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
The report focuses on the various factors affecting the Malaysia Remittance industry such as the MSB Act, GST and Migration Patterns in Malaysia. Growing presence of multinational corporations in Malaysia has made international migration prominent in the country. Along with international migration, the increasing rate of urbanization within Malaysia has made the number of internal migrants to soar in the recent years. The market for both inward and outward international remittances is expected to increase in the coming years owing to the large number of international migrants moving toward Malaysia in the coming years.
The Malaysia Remittance Industry inflows are anticipated to grow at a CAGR of 22.6% during 2014-2019. Malaysia is primarily an outward focused remittance country with the outward international remittance flows leaving the inward international remittance flows far behind in terms of market size. This large migrant population has fuelled the growth of a robust outward international remittance market in Malaysia with a large number of migrants coming from Indonesia, Bangladesh, Myanmar, Nepal and India among other countries. The Bill Payment Industry in Malaysia will also increase significantly owing to the increase in the spending patterns and high standards of living of Malaysia citizens which will lead the industry to grow at a CAGR of more than 15% in the next 5 years.
“The increasing international and domestic migration, rise of living standards and increasing spending patterns of Malaysian citizens will further the growth of remittance and bill payment industry in the coming years.”, according to the Research Associate, Ken Research.
Key Topics Covered in the Report:
Malaysia Remittance and Bill Payment Industry
- Market Size by International and Domestic Remittance Flows (inflow and outflow)
- Market Size by Bills Paid
- Market Segmentation by
o Major Flow Corridors
o Payment Channel (Banks and MSBs)
o Inter and Intra State
o Mode of Payment
o Purpose of Payment
o Payment Component
- Mergers & Acquisitions
- Global Remittance Market Size
- Competitive Landscape and Average Transaction Fee in major flow corridors for leading remittance service providers
- Future Outlook
- Macro Economic Parameters
Key Products Mentioned in the Report
International Inflow Remittance
International Outflow Remittance
Companies Covered in the Report
Hong Leong Bank
Prabhu Money Transfer
China Money Remittance and Payments Market Outlook to 2018 - Driven by Rising Migration and Effective Government Policies
India Domestic Remittance, M-Wallet and Bill Payment Market Outlook to 2018 - Driven by Government Support and Rising Banked Population
The US International, Domestic Money Remittance and Bill Payments Market Outlook to 2018 - Tie-ups and Mobile Remittances to Foster Future Growth
Ankur Gupta, Head Marketing & Communications