DIGITAL DOMESTIC MONEY TRANSFER TRANSACTIONS TO EXCEED 300 BILLION BY 2026 -- JUNIPER RESEARCH

KUALA LUMPUR, July 25 (Bernama) -- The volume of digital domestic money transfer payments will exceed 300 billion globally for the first time in 2026, up nearly 50 per cent from 207 billion in 2022, according to a new study by Juniper Research.

It said the key drivers are super-apps, where multiple services including payment and financial transaction processing are available in one app.

“(They) are driving digitisation of previously cash-based payments, by including messaging and access to other services alongside payments,” the research firm said in a statement.

Its research predicts the top three markets in terms of usage -- China, the United States and India -- will account for just under 74 per cent of global digital domestic money transfer transactions in 2026.

“The appeal of social payments, where payments are integrated into social platforms, has driven transactions in these three countries,” Juniper Research said.

The report recommends money transfer vendors 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 vendors should focus on highest growth markets to secure the best return on investment, with Latin America and West Europe identified as having the strongest forecast growth rates.”

Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports, and industry commentary.

-- BERNAMA