Fintech: total value of transactions in P2P transfers in Spain 2016-2022

This statistic illustrates the transaction value of online peer-to-peer money transfers in Spain in 2016, and provides a forecast thereof until 2022. In 2016, the transaction value amounted to 24 million U.S. dollars and is forecast to reach 66 million U.S. dollars by 2022. An overview of all Digital Markets can be found here.
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Annual value of transactions carried out in the online peer-to-peer money transfer segments in Spain from 2016 to 2022

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Source

Release date

2018

Region

Spain

Survey time period

2017

Supplementary notes

* Forecast.
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.

Further information on methodology can be found here.

Further information on methodology can be found here.

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