P2P Money Transfers

United States

Highlights
Market definition
in-scope / out-of-scope
Reports special
  • Transaction Value in the "P2P Money Transfers" segment amounts to US$15,138m in 2018.
  • Transaction Value is expected to show an annual growth rate (CAGR 2018-2022) of 16.2% resulting in the total amount of US$27,593m in 2022.
  • In the "P2P Money Transfers" segment, the number of users is expected to amount to 48.6m by 2022.
  • The average transaction value per user in the "P2P Money Transfers" segment amounts to US$316.6 in 2018.
  • From a global comparison perspective it is shown that the highest transaction value is reached in the United States (US$15,138m in 2018).
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Online Peer-to-Peer (P2P) Money Transfers are defined as money transfers made over the internet between private individuals. Cross-border payments and remittances are the most relevant segments for the FinTech market. Classic providers in this segment are credit institutions (banks), post offices and specialized money transfer services such as Western Union and Moneygram. Whereas traditional models of cross-border monetary transfer such as currency exchange, stationary stores and inter-bank transfers result in comparatively high time and monetary expense for users , "online-pure players” such as Transferwise, WorldRemit and Currency Cloud optimize the use of digital infrastructures to achieve time and cost savings.

Remittances often occur on a regular basis and the majority of remittance users are migrants and people with private contacts in other countries. However, a segmentation of the user base of the respective types of providers is not possible based on data that is currently available. Private P2P transactions for micro- and small amounts that are transferred domestically are not included in the definition of P2P Money Transfers.
in-scope
  • Online cross-border payments and remittance sending
  • Money transfers processed by online-pure players (e.g. TransferWise)
  • Transaction value equals money transfers out of the selected region
out-of-scope
  • Social payments - payments via social networks
  • Domestic Peer-to-Peer payments and bill splitting services
  • Cross-border payments via traditional service providers (banks, post offices & Western Union, MoneyGram)
FinTech Report 2018 - Personal Finance

FinTech Report 2018 - Personal Finance

Statista Digital Market Outlook - Segment Report
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Transaction Value (2018)
+29.7% yoy
US$15,138m
User (2018)
+0.6% yoy
47.8m

Transaction Value Transaction Value Growth

in the P2P Money Transfers market in million US$ in percent

Reading Support Total Transaction Value in the "P2P Money Transfers" segment amounts to US$15,138m in 2018. Reading Support The "P2P Money Transfers" segment is expected to show a transaction value growth of 23.0% in 2019.

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  • Transaction Value
  • Transaction Value Growth
Info

Transaction Value:

The "Transaction Value" box shows the forecasted value of transactions in the selected market (market segment, region) for each year. The figures do not refer to the actual revenue that is generated by the processing companies.


Transaction Value Growth:

The "Transaction Value Growth" box shows the year-over-year development of the transaction value in the selected market (market segment, region) in percentage terms.

A definition and detailed explanation of the displayed markets can be found here.
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User Penetration Rate

in the P2P Money Transfers market in millions in percent

Reading Support In the "P2P Money Transfers" segment, the number of users is expected to amount to 48.6m by 2022. Reading Support User penetration in the "P2P Money Transfers" segment is at 14.6% in 2018.

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  • User
  • Penetration Rate
Info

User:

The “User” box shows the number of active paying customers (or accounts) of the selected market (market segment, region) in millions for each year.


Penetration Rate:

The “Penetration Rate” box shows the share of active paying customers (or accounts) from the total population of the selected market (market segment, region) for each year.

A definition and detailed explanation of the displayed markets can be found here.
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av. Transaction Value per User

in the P2P Money Transfers market in US$

Reading Support The average transaction value per user in the "P2P Money Transfers" segment amounts to US$316.6 in 2018.

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Average Transaction Value per User:

The box shows the average annual transaction value per user (or potential user) of the selected market (market segment, region) for each year.

A definition and detailed explanation of the displayed markets can be found here.
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Global Comparison - Transaction Value

in the P2P Money Transfers market in million US$

Reading Support With a total transaction value of US$15,138m in 2018, the highest value worldwide is reached in the United States.

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Top Countries
United States
Saudi Arabia
Switzerland
Germany
China
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Global Comparison – Transaction Value:

The box shows a comparison of transaction values for 50 of the world's leading digital economies in the selected market (market segment, region) and year.


A definition and detailed explanation of the displayed markets can be found here.
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Key Market Indicators

The following Key Market Indicators give an overview of the demographic, economic and technological development of the selected region on the basis of general KPIs. The calculation of Statista’s Market Outlook is based on a complex market-driver logic including over 400 region-specific data sets.

2016201720182019202020212022 CAGR
(2016-2022)
Mobile Phones Volume / Capita in units
Average per capita sales of mobile phones in units | Source: Statista Analysis
x.xx x.xx x.xx x.xx x.xx x.xx x.xx
Laptops Volume / Capita in units
Average per capita sales of laptops and tablets in units. | Source: Statista Analysis
x.xx x.xx x.xx x.xx x.xx x.xx x.xx
Desktop-PCs Volume / Capita in units
Average per capita sales of Desktop-PCs in units. | Source: Statista Analysis
x.xxx x.xxx x.xxx x.xxx x.xxx x.xxx x.xxx
Mobile Phones Revenue / Capita in US$
Average revenue of mobile phones per capita | Source: Statista Analysis
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Laptops Revenue / Capita in US$
Average revenue of laptops and tablets per capita. | Source: Statista Analysis
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Desktop-PC Revenue / Capita in US$
Average revenue of Desktop-PCs per capita. | Source: Statista Analysis
xx.x xx.x xx.x x.x x.x x.x x.x
New registered companies
Number of newly established and registered companies (within the past 12 months) in the selected region. | Source: OECD, Eurostat, Statista Analysis
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Smartphone Penetration in %
Percentage of individuals from the total population using a smartphone on a monthly basis. | Source: Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Internet Penetration in %
Percentage of individuals from the total population using the internet on a monthly basis. | Source: Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Consumer Spending / Capita in US$
Average consumer spending per capita of private households in the selected region | Source: Statista Analysis, based on UN, World Bank, IMF, Eurostat and national statistical offices
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GDP / Capita in US$
Gross domestic product of the selected region in relation to the total population. | Source: IMF
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Households in m
Total number of households in the selected region. | Source: Statista Analysis
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Population in m
Number of individuals (all ages) living in the selected region. | Source: World Bank, Statista Analysis
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0-15 years in m
Number of individuals (age 0-15) living in the selected region. | Source: World Bank, Statista Analysis
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16-24 years in m
Number of individuals (age 16-24) living in the selected region. | Source: World Bank, Statista Analysis
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25-34 years in m
Number of individuals (age 25-34) living in the selected region. | Source: World Bank, Statista Analysis
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35-44 years in m
Number of individuals (age 35-44) living in the selected region. | Source: World Bank, Statista Analysis
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45-54 years in m
Number of individuals (age 45-54) living in the selected region. | Source: World Bank, Statista Analysis
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55+ years in m
Number of individuals (age 55 and older) living in the selected region. | Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xxx.x xxx.x
Telecommunication
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Average Connection Speed in kbits/s
Average internet connection speed in Kbits/s. | Source: Akamai, Statista Analysis
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Fixed Broadband Subscription / 100 Capita
Number of fixed broadband subscriptions per 100 inhabitants. | Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Finance
Click arrow to expand
Online Banking Penetration in %
Percentage of individuals (total population over 16 years) using online-banking services at least once a year (e.g. bank transfers, account information). | Source: Eurostat, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Debit Card Penetration in %
Percentage of individuals (total population over 16 years) who own at least one debit card. |Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Source: Statista, July 2018
Source: Statista, July 2018, based on IMF, World Bank, UN and Eurostat
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