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Money Transfer Agencies Market size is set to grow by USD 15.84 billion from 2024-2028, Technological advancements to boost the market growth, Technavio

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NEW YORK, July 8, 2024 /PRNewswire/ — The global money transfer agencies market  size is estimated to grow by USD 15.84 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  11.54%  during the forecast period. Technological advancements is driving market growth, with a trend towards rising number of start-ups. However, rising illicit financial flows  poses a challenge. Key market players include Azimo BV, Bank of America Corp., Citigroup Inc., Denarii, Euronet Worldwide Inc., Finablr Ltd., HDFC Bank Ltd., JPMorgan Chase and Co., MoneyGram Payment Systems Inc., NIUM Pte. Ltd., NOW Payment Services Provider LLC, OzForex Ltd., PayPal Holdings Inc., Remitly Global Inc., Remitware Payments Canada Inc., Sendah Direct, TransferGo Ltd., U.S. Bancorp, Wells Fargo and Co., Western Union Holdings Inc., Wise Payments Ltd., and WorldRemit Ltd.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Service (Money transfer and Currency exchange) and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

Azimo BV, Bank of America Corp., Citigroup Inc., Denarii, Euronet Worldwide Inc., Finablr Ltd., HDFC Bank Ltd., JPMorgan Chase and Co., MoneyGram Payment Systems Inc., NIUM Pte. Ltd., NOW Payment Services Provider LLC, OzForex Ltd., PayPal Holdings Inc., Remitly Global Inc., Remitware Payments Canada Inc., Sendah Direct, TransferGo Ltd., U.S. Bancorp, Wells Fargo and Co., Western Union Holdings Inc., Wise Payments Ltd., and WorldRemit Ltd.

Key Market Trends Fueling Growth

Fintech start-ups, such as TransferWise, Revolut, Xoom, WeSwap, PeerTransfer, Sendmoney.ph, WorldRemit, Remitly, Azimo, and TransferGo, are disrupting the global money transfer agencies market by raising substantial investments and offering innovative solutions. These start-ups are challenging traditional banks and Money Transfer Operators (MTOs) with peer-to-peer (P2P) and consumer-to-business (C2B) cash payment models. For instance, M-Pesa’s P2P and C2B transactions have significantly improved money transfer convenience for millions of users. With the increasing number of start-ups, the payments landscape is poised for significant change during the forecast period. Xoom held a 23% market share in September 2021, and the market is expected to grow due to the convenience, affordability, and accessibility offered by these fintech solutions. 

The Money Transfer Agencies market is experiencing significant trends as more people use mobile wallet transfers for cross-border payments. Migrants, expatriates, students, travelers, and business partners are increasingly relying on mobile platforms for remittance services. Digital technology and correspondent banks are key partners in facilitating these transactions. Currency exchange and exchange rates are crucial factors, with digital banks and wire transfers offering competitive rates. Traditional financial institutions and multinational corporations are also embracing digital technology to streamline international trade transactions, investment activities, and currency risk management. Cross-selling and value-added services like currency exchange, bill payments, prepaid cards, microfinance products, and transaction histories are becoming popular offerings. International organizations and financial inclusion initiatives are also leveraging these services for foreign exchange and remittances. 

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Market Challenges

The money transfer agencies market faces significant challenges due to the increasing issue of illicit financial flows. These flows involve funds that are illegally earned, transferred, or used. With the growing reliance on digital technologies, the communication networks facilitating these illicit transactions pose a major concern. Furthermore, digital technologies enable organized cybercrimes and offer opportunities for fraud, corruption, tax evasion, and other unlawful activities. These factors are expected to impede the market’s growth throughout the forecast period.Money transfer agencies face several challenges in today’s digital world. User-friendly mobile apps and online platforms are essential for customer convenience, but they require advanced technologies and API-driven infrastructure. Banking infrastructure and regulatory scrutiny are crucial for secure and efficient cross-border transactions. Industry professionals must navigate the use of blockchain technology, digitalization, and cryptocurrencies like Bitcoin and Ethereum. Security is paramount, with fraud, tracking, and multicurrency accounts top concerns. Immigrant populations and their family members and friends rely on remittance services for financial inclusion. Fintech companies and disruptors are transforming the financial services industry with digital transactions, while physical branches and currency exchange rates remain important for some customers. Cross-border remittances, e-commerce, and financial investments also pose challenges. Decentralized ledgers offer potential solutions, but regulatory compliance and financial crimes are ongoing concerns. Intermediaries must balance the need for efficiency and security with the demands of international borders and financial services regulations.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This money transfer agencies market report extensively covers market segmentation by

Service 1.1 Money transfer1.2 Currency exchangeGeography 2.1 North America2.2 Europe2.3 APAC2.4 Middle East and Africa2.5 South America

1.1 Money transfer-  Money transfer agencies facilitate the process of sending money across borders. These agencies offer various services such as cash pick-up, bank transfer, mobile wallet top-ups, and home delivery. They partner with banks and financial institutions to ensure secure and efficient transactions. Fees and exchange rates may vary, making it essential for customers to compare offerings before selecting a service. The market for money transfer agencies continues to grow due to increasing globalization and the need for seamless cross-border transactions.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Money Transfer Agencies (MTAs) market is a dynamic and evolving sector that facilitates the transfer of monetary assets across international borders and domestic transactions for individuals and businesses. MTAs serve as intermediaries between senders and receivers, providing various payment methods through digital platforms and physical agent networks. The market caters to diverse needs, including international remittances, business payments, and personal financial needs. Industry standards ensure secure and efficient transactions. Financial technology innovations, digital technologies, mobile devices, and user-friendly mobile apps have revolutionized the sector, making it more accessible and convenient. Online platforms and retail agents offer cash pickups and bank deposits as payout locations, expanding financial inclusion and broadening the reach of MTAs in the financial services industry.

Market Research Overview

The Money Transfer Agencies (MTOs) market is a dynamic and evolving industry that facilitates the transfer of monetary assets between individuals, businesses, and service providers across international borders. This market caters to various financial needs, including international remittances, business payments, and personal financial requirements. The industry is witnessing significant digitalization, with digital platforms and mobile devices becoming increasingly popular for digital transactions. Financial technology innovations, such as blockchain technology and API-driven infrastructure, are revolutionizing the industry by providing secure, efficient, and decentralized solutions for cross-border transactions. MTOs operate through physical agent networks and correspondent banks, offering various payout options, including cash pickups, bank deposits, mobile wallet transfers, and home address delivery. The market is subject to regulatory scrutiny and industry standards to ensure security, efficiency, and compliance with financial crimes and fraud prevention measures. The MTO market serves a diverse clientele, including immigrants, expatriates, students, travelers, and businesses, and caters to various financial services, including foreign remittances, cross-border e-commerce, and financial investments. The industry is experiencing disruption from fintech companies, which are leveraging digital technologies to offer user-friendly mobile apps, online platforms, and digital transactions. Currency exchange rates, regulatory compliance, and security are critical factors that influence the market’s growth and competitiveness. The market’s future growth is expected to be driven by digital transformation, financial inclusion, and the increasing demand for cross-border payments and remittances.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ServiceMoney TransferCurrency ExchangeGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Bitmine Immersion Technologies Announces Cash Dividend of $0.1056 per Share of 9.50% Series A Perpetual Preferred Stock

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NORWALK, Conn., June 18, 2026 /PRNewswire/ — (NYSE: BMNR; BMNP) Bitmine Immersion Technologies, Inc. (“Bitmine” or the “Company”) announced today that its Board of Directors has declared a cash dividend of $0.1056 on the Company’s 9.50% Series A Perpetual Preferred Stock (the “Series A Preferred Stock”), which is listed on the New York Stock Exchange under the trading symbol “BMNP”.

The dividend will be payable in cash in accordance with the terms of the Certificate of Designations governing the Series A Preferred Stock. The dividend will be paid on July 10, 2026 to holders of record of the Series A Preferred Stock as of the close of business on June 30, 2026.

About Bitmine

Bitmine (NYSE: BMNR) is a Bitcoin miner with operations in the US. The company is deploying its excess capital to be the leading Ethereum Treasury company in the world, implementing an innovative digital asset strategy for institutional investors and public market participants. Guided by its philosophy of “the alchemy of 5%,” the Company is committed to ETH as its primary treasury reserve asset, leveraging native protocol-level activities including staking and decentralized finance mechanisms. The Company launched MAVAN (Made-in America VAlidator Network), a dedicated staking infrastructure for Bitmine assets, in 2026.

For additional details, follow on X:

https://x.com/bitmnr
https://x.com/fundstrat

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. These forward-looking statements can be identified by terms such as “expects,” “projects,” “projected,” “intends,” “believes,” “anticipates,” “estimates,” and similar expressions. This document specifically contains forward-looking statements regarding the Company’s dividend payments on the Series A Preferred. In evaluating these forward-looking statements, you should consider various factors, including: Bitmine’s ability to finance its current business, Ethereum treasury operations, and proposed future business; market conditions affecting the trading price of the Company’s common stock and Series A Preferred Stock; regulatory developments affecting digital assets, including the ultimate enactment and implementation of pending legislation and SEC initiatives; the volatility and unpredictability of digital asset prices; the performance, reliability, and security of the Company’s staking operations; and the future value of Bitcoin and Ethereum. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond Bitmine’s control, including those set forth in the Risk Factors section of Bitmine’s Form 10-K filed with the SEC on November 21, 2025, as well as all other SEC filings, as amended or updated from time to time. Copies of Bitmine’s filings with the SEC are available on the SEC’s website at www.sec.gov. Bitmine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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SOURCE Bitmine Immersion Technologies, Inc.

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Hyperscale Data Announces “At-the-Market” Offering of Common Stock

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LAS VEGAS, June 18, 2026 /PRNewswire/ — Hyperscale Data, Inc. (NYSE American: GPUS), an artificial intelligence (“AI”) data center company anchored by Bitcoin (“Hyperscale Data” or the “Company”), announced today that it has established an “at-the-market” equity offering program (the “Offering”) under which it may sell, from time to time, shares of its common stock for aggregate gross proceeds of up to $300 million. The shares of common stock will be offered through Spartan Capital Securities, LLC, which will act in its capacity as sales agent (the “Agent”).

Pursuant to a sales agreement with the Agent, sales of shares of the Company’s common stock may be made in transactions that are deemed to be “at-the-market” offerings, including sales made by means of ordinary brokers’ transactions on the NYSE American or otherwise at market prices prevailing at the time of sale or as agreed to with the Agent.

The Company intends to use a majority of the net proceeds from this offering, if any, to further develop its Michigan and Montana data facilities, to acquire more Bitcoin and to purchase precious metals, including gold, silver and/or copper. The Company also intends to use a smaller amount of the proceeds for working capital and general corporate purposes, which may include the repayment, refinancing, redemption or repurchase of future indebtedness or capital stock. As of the date hereof, the Company cannot predict with certainty all of the particular uses for the net proceeds from this offering, if any. As a result, Hyperscale Data’s management will have broad discretion regarding the timing and application of the net proceeds from this offering.

The shares of common stock described above are being offered pursuant to a shelf registration statement (File No. 333-291595), which became effective on December 11, 2025.  Such shares of common stock may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Before making an investment in these securities, potential investors should read the prospectus supplement and the accompanying prospectus for more complete information about the Company and the Offering. Potential investors may obtain these documents for free by visiting EDGAR on the U.S. Securities and Exchange Commission’s website at www.sec.gov. Alternatively, potential investors may contact the Agent, which will arrange to send them these documents:  Spartan Capital Securities, LLC, Attention: Eric Flesche, President, 45 Broadway, 19th Floor, New York, NY 10006, telephone: (212) 293-0123, eflesche@spartancapital.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

About Hyperscale Data, Inc.

Through its wholly owned subsidiary Sentinum, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, Ault Capital Group, Inc. (“ACG”), is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

Hyperscale Data currently expects the divestiture of ACG (the “Divestiture”) to occur in the second quarter of 2027. Upon the occurrence of the Divestiture, the Company would be an owner and operator of data centers to support high-performance computing services, as well as a holder of the digital assets. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be shareholders of ACG upon the occurrence of the Divestiture.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

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SOURCE Hyperscale Data Inc.

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Ribbon and Comporium Expand Partnership to Advance Voice Infrastructure Modernization

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Delivers scalable, future-ready IP voice platform

PLANO, Texas, June 18, 2026 /PRNewswire/ — Ribbon Communications Inc. (Nasdaq: RBBN), a global leader in real-time communications technology and IP optical networking solutions, today announced that Comporium, a leading regional provider of broadband, voice, video and smart-home services, has selected Ribbon’s state of the art technology to further modernize its voice infrastructure.

“Ribbon is a trusted partner in our modernization journey, and we’re pleased to take this next step together to enhance the efficiency and scalability of our voice infrastructure,” said Mike Deller, SVP of Engineering and Planning at Comporium. “This investment supports our continued transition to a modern cloud-based environment, and reinforces our commitment to delivering reliable, high-quality services to our customers.” 

Ribbon is providing Comporium with a complete network transformation solution, including the vC20 Call Controller and Application Server. The solution is designed to enable significant reductions in footprint and power consumption compared to legacy TDM infrastructure and dedicated ATCA-based C20 hardware platforms. Ribbon’s industry leading professional services teams are supporting implementation and optimization.

“This expansion underscores the strength of our long-term partnership with Comporium,” said Elizabeth Page, Regional Senior Sales Director at Ribbon. “Our solutions are designed to help service providers modernize their networks, reduce operational complexity, and prepare for future needs, such as the expected transition of service provider interconnect to all-IP in the USA.”

About Ribbon
Ribbon Communications (Nasdaq: RBBN) is a global provider of voice communications software, IP routing, and optical networking to mobile and wireline service providers, enterprises, critical infrastructure and defense sectors. We support our customers’ Path to Autonomous Networks by leveraging the latest AIOps automation platforms and Agentic AI technologies, helping them deliver better customer experiences, reduce operational costs, and achieve sustainable growth. To learn more about Ribbon, visit rbbn.com.

Important Information Regarding Forward-Looking Statements  
The information in this release contains forward-looking statements regarding future events that involve risks and uncertainties. All statements other than statements of historical facts contained in this release, including those regarding the expected benefits from use of Ribbon Communication’s products, are forward-looking statements. The actual results of Ribbon Communications may differ materially from those contemplated by the forward-looking statements. For further information regarding risks and uncertainties associated with Ribbon Communications’ business, please refer to the “Risk Factors” section of Ribbon Communications’ most recent annual or quarterly report filed with the SEC. Any forward-looking statements represent Ribbon Communications’ views only as of the date on which such statement is made and should not be relied upon as representing Ribbon Communications’ views as of any subsequent date. While Ribbon Communications may elect to update forward-looking statements at some point, Ribbon Communications specifically disclaims any obligation to do so.

Investor Contact 
+1 (978) 614-8050
ir@rbbn.com    

Media Contact
Catherine Berthier
+1 (646) 741-1974
cberthier@rbbn.com

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SOURCE Ribbon Communications Inc.

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