NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, October 7, 2016

The value of domestic money transfers, including operator money and social media money services, will reach $520 billion in global mobile transactions by 2018, up nearly 200% from an estimated $178 billion last year.

This is according to a new study from Juniper Research, titled Digital Money Transfer & Remittances: Domestic & International Markets 2016-2021.

The study reveals person-to-person domestic transfers, such as M-Pesa, Airtel Money, Orange Money and MTN Mobile Money, will increase by 45%, showing higher usage in developing markets. This will be supplemented by users making social media transfers in developed markets via services such as Venmo and WeChat.