The global P2P market is currently undergoing a phase of rapid and unprecedented development driven by both changes in global consumer dynamics and the impacts of emerging, and potentially trans-formative technologies. As the market continues to grow, payment providers are now faced with the opportunity to replace more traditional forms such as cash and cheques, but will face new challenges.
Scope
* Understand the market's potential with Datamonitor's proprietary P2P data metrics.
* Form your strategy effectively by measuring the level of current P2P activity in domestic transactions.
* Identify new opportunities with Datamonitor's market sizing of the remittance market.
* Develop your market entry plans effectively by seeing which markets are emerging as the key remittance corridors.
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Full Report Details at
- http://www.fastmr.com/prod/531059_p2p_payments_the_global_opportunity.aspx?afid=101
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Report Highlights
Up to 90% of consumers globally report they conduct P2P transactions in their personal lives, while a further 83% report they conduct P2P transactions for gifting purposes. Further to this cash remains dominant and in use for up to 82% of P2P transactions. Replacing cash is a key opportunity for payment providers.
The International remittance market continues to grow and expand across all markets, reaching a value of over US$500 billion in 2011. The market did experience a temporary dip due to the global economic slow down but has now returned to growth and reached an all time peak in 2011.
Revenues from remittances were estimated at $46.6bn in 2011, and grew by 15% over the previous year. The costs of sending remittances remain volatile while specific remittance corridors remain key avenues for future growth in the industry.
Reasons to Get this Report
* How many consumers use P2P payments?
* How do consumers engage in P2P? Are there tools they prefer over others?
* Is there any opporunity in P2P gifting? How does this differ from standard P2P?
* How big is the international remittance market? What revenues are payment providers likely to see?
* Which countries are the biggest senders and receivers of international remittances?
Report Table of Contents:
OVERVIEW
* Catalyst
* Summary
P2P PAYMENTS: THE GLOBAL OPPORTUNITY
* Overview
* Remittances continue to grow globally
* Opportunity is high at a domestic and remittance level
* Up to 90% of consumers globally conduct P2P transactions of some description
* The continued use of cash means it is ready to be displaced by alternatives
* Patterns of gifting are similar to those of P2P payments and presents opportunities
* Cash use remains dominant across all demographics
* Despite its global potential, P2P remains dominated by regional and cultural considerations
* The level of opportunity represented by current cash use is highest in markets with less established alternatives
* Unlike cash, bank transfer usage shows greater variability between regions
* Cheque use remains surprisingly high in some markets, reaching 53.5% of French consumers
* Remittances Continue to Grow Globally
* Revenues from remittances for P2P providers stood at near $46.6bn in 2011
* After a marginal decline global remittances have seen a return to growth
* The US and Saudi Arabia are the largest originators of remittances
* High growth economies remain key to international remittance corridors
* Remittance costs vary widely by region presenting an opportunity for cheaper alternatives
APPENDIX
* Global remittance data
* Consumer P2P tool use
* Definitions
* Credit card
* Debit card
* European Payments Council
* e-purse/e-wallet
* Interchange
* Merchant service charge
* Mobile network operator
* Mobile payments
* Person to person payments
* Point of sale terminal
* Prepaid card/stored value card
* Trusted service manager
* Methodology
* Further reading
* Ask the analyst
* Disclaimer
TABLES
* Table: Global remittance inflows and year-on-year growth ($m), 2000-11e
* Table: Top 10 global remittance originators ($m), 2006-10
* Table: Top 10 global remittance receivers ($m), 2006-11e
* Table: Average remittance cost (% of transaction), 2010-11
* Table: P2P usage (% of consumers)
* Table: P2P usage by age (% of consumers)
* Table: P2P gifting (% of consumers)
* Table: P2P tool use by value of transaction (% of consumers)
* Table: P2P tool use for gifting by value of transaction (% of consumers)
* Table: P2P tool use by age for very low value transactions (equivalent to
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