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Philippines Domestic and International Money Transfer Industry Outlook to 2017 - Tie-ups and Price Wars to Influence the Market Growth

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LONDON, June 25, 2014 /PRNewswire/ -- Reportbuyer.com has added a new market research report:

Philippines Domestic and International Money Transfer Industry Outlook to 2017 – Tie-ups and Price Wars to Influence the Market Growth

http://www.reportbuyer.com/banking_finance/online_banking/philippines_domestic_international_money_transfer_industry_outlook_2017_tie_ups_price_wars_influence_market_growth.html

EXECUTIVE SUMMARY

The industry research report titled "Philippines Domestic and International Money Transfer Industry Outlook to 2017 – Tie-ups and Price Wars to Influence the Market Growth" provides comprehensive analysis of domestic money remittance, bill payment, mobile money, branch-pick ups, door to door transfer, direct credit to bank, online, mobile and international money transfer market. The report discusses the competition between banking and non-banking channel (money transfer companies and pawnshops) in Philippines and provides market share, number of transactions, average transaction size and transaction volume along with other parameters of all the major MTOs, Pawnshops and banks.

The market for domestic money transfers in the Philippines is exceedingly dynamic and has been maturing since the last many years. In the last several years, the enormous market of international remittances has also engrossed international players such as Western Union and Money Gram into the domestic money transfer market. Conversely, the Philippines-based service providers such as banks, regional and national pawnshops, LBC Express, iRemit, Smart and others have a noteworthy presence in the domestic market. Some of the largely used payment service providers in Philippines include Palawan Pawnshop, Western Union, Cebuana Lhuillier, LBC Express, M Lhuillier and other regional pawnshops.

The total market for domestic remittances was valued at USD ~ million in 2012. In-country Filipinos characterized by domestic migrants who have moved for better economic and employment opportunities and permanent residents together accounted for approximately ~% of the total domestic remittances. Additionally, approximately ~% of the overall domestic remittances were funded by people/families who have also received international remittances from Filipinos in other countries. Domestic remittances are transferred from 143 cities inside 78 provinces of the Philippines. The top 10 cities amongst these provinces include Quezon City, Manila, Makati, Caloocan, Paranaque, Pasig, Mandaluyong, Taguig, Pasay and Baguio.
More than ~% of the money remittance transactions originate from Manila and go to different cities including progressive areas such as Davao, Bicol, Cebu and others and semi-urban provinces such as Luzon, Visayas, Mindano as Metro Manila and Makati City are financial and economical hubs and all the white collar jobs or high income earning households reside in these areas. Such areas create a large transaction volume with an average amount of money per transaction to be sent to family members residing in other cities being considerably high as well.

The non-bank channel, comprising of money transfer companies and pawnshops operating in the Philippines, accounted for ~% of the total number of domestic money remittance transactions in 2012. Only ~% of the total number of domestic remittance transactions was accounted by the banking channel in 2012.

Palawan pawnshop was the largest remittance player in the Philippines in 2012, accounting for a market share of ~% in terms of total number of domestic transactions. Cebuana Lhuillier, with a market share of ~% was the second leading player in 2012 with the average value of a transaction being PHP ~. LBC Express recorded domestic remittance transactions volume worth of USD ~ million, clocking a market share of ~% in terms of number of transactions in 2012 with ~ million transactions.
The bill payment market in the Philippines was recorded to be USD ~ million, in terms of volume of transactions taking place in 2012. The bill payment market in the Philippines is largely concentrated in households in the income groups of PHP 100,000-PHP 249,999 and 250,000 and above.

The average bill paid by a Filipino was valued at PHP ~ in 2012. Bill payment transaction volume has grown at a CAGR of ~% from USD ~ million in 2009. The total volume of bill payments was ~ million in 2007 which has grown to ~ million in 2012 at a CAGR of 5.1%. A greater proportion of the bill payment goes into the payment of utilities such as water and electricity. Convenience stores such as 7-Eleven and Ministop were responsible for ~% of the total bill payments in the Philippines in 2012.

The Philippines international remittance market registered a total of USD ~ million in inbound remittances from other countries in 2012, growing by 6.3% from USD ~ million in 2011. A significant growth in remittances was registered in December this year, as the overall inflows amounted to USD ~ million, showcasing an incline of around a tenth from the previous year's figures.
The US accounted for ~% of the total remittances sent to the Philippines in 2012. With a percentage contribution of 9.2% in 2012, Canada has ranked as the second largest remittance source for Philippines, consecutively since 2009. International remittances showcase strong seasonal patterns, with month on month increases particularly huge in the months of March and December. With a market share of ~%, Banco de Oro was the largest bank in the Philippines remittance market in 2012. The total volume of international remittances coursed through the bank was USD ~ million in 2012.
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KEY TOPICS COVERED IN THE REPORT

- Number of transactions, volume of transactions in domestic money remittance market in Philippines
- Major flow corridors
- Trends and drivers, number of pawnshops, banked population, migrants population and BPO industry revenue and employment
- Market share, transaction volume and number of transactions of major MTOs, pawnshops and banks in domestic money remittance market
- Bill Payment transaction volume and number in Philippines
- Transaction volume split of Bill payment through different platforms and by types of bill payment categories
- International money remittance flow corridors, transaction volume and number along with seasonal trends
- Market share, transaction volume and number of transactions of major MTOs and banks in international money remittance market

TABLE OF CONTENTS

Executive Summary
Macro Environment in Contact with Remittance Industry Performance
Domestic Remittance Market
Domestic Bill Payment Market
International Remittance Market
1. Philippines Macro Economic Environment and Factors
1.1. Philippine Macro Environment Overview: Historical and Projections
Philippines' GDP, 2007-2017
Population and Number of Households in the Philippines, 2007-2017
Export, Import and Exchange Rate Fluctutations, 2007-2012
1.2. Disposable Income per Household in Philippines, 2007-2012
1.3. Overseas Filipino Workers
1.3.1. Number of Land-Based and Sea-Based OFWs, 2007-2012
1.3.2. Land-Based OFW Distribution across Countries and by Occupation
1.3.3. Demand for Money Transfer
1.4. Number of Banks and ATMs in Philippines, 2007-2012
2. The Philippines Domestic Money Transfer Industry
2.1. Introduction - Domestic Remittance and Bill Payment
2.2. Number of Transactions and Transaction Volume in the Philippines Domestic Remittance Market, 2012-2013
2.3. Domestic Remittance Market Segmentation in the Philippines
2.3.1. Major Remittance Channels: Bank vs Non-Bank, 2012
2.3.2. Types of services - Banked and Unbanked population (Door to Door, Online, Branch Pick-up, Prepaid Cards)
2.3.3. Major Flow Corridors
2.4. Drivers
2.4.1. Unbanked Municipalities in The Philippines and migrants' demand for remittance
2.4.2. Growing Number of Pawnshops in the Philippines, 2007-2012
2.4.3. BPO Employees in the Philippines, 2007-2012
2.5. Competitive Landscape - Domestic Money Remittance
2.5.1. Market Share of Major Players in the Non-Bank Channel, 2012
2.5.2. Strength and Weakness of Major Non-Bank Domestic Remittance Players
2.5.3. Service Positioning, Strategy and Key Performance Indicators
2.6. Number of Transactions and Volume in the Philippines Bill Payment Market, 2009-2012
2.7. Domestic Bill Payment Market Segmentation in the Philippines, 2012
2.8. Market Share of Major Domestic Bill Payment Service Providers, 2012
2.8.1. Transaction Fees Comparison
2.9. Remittance Cost and Regulatory Changes (Domestic and International Remittance)
2.10. Rising Penetration of Mobile Money Transfers
2.11. Barriers to Entry and Relative Comparison of Bank and Non-Bank Remittance Players (security and compliance issues)
2.12. Analyst Recommendations
Money Transfer Companies and Pawnshops
Banks
2.13. Future Prospects and Outlook - Domestic Remittance and Bill Payment
3. Philippines International Money Transfer Industry
3.1. Global and Philippines International Remittance Industry Introduction
3.2. Products and Services in Bank and Non-Bank Channels
3.3. Transaction Volume in the Philippines International Remittance market, 2007-2012
3.4. The Philippines International Remittance Market Segmentation
3.4.1. Major Flow Corridors, 2007-2012
3.5. International Remittance Market Trends
3.6. The Philippines International Remittance Competitive Landscape
3.6.1. Market Share of Major Banks and Non-Bank Channels, 2012
3.6.2. Strengths and Weaknesses of Banks and Major Non-Bank International Remittance Players
3.6.3. Service Positioning, Pricing Strategy and Key Performance Indicators
3.7. Future Prospects and Outlook - International Remittance
4. Appendix
4.1. Market Definitions
4.2. Abbreviations
4.3. Research Methodology
Data Collection Methods
Approach
Variables (Dependent and Independent)
Final Conclusion
4.4. Disclaimer

LIST OF FIGURES

Figure 1: GDP at Constant Price in the Philippines in USD Billion and GDP Growth Rate in Percentage, 2007-2017
Figure 2: Population and Number of Households in the Philippines in Million, 2007-2017
Figure 3: Exports and Imports in the Philippines in USD Billion, 2007-2012
Figure 4: Exchange Rate of the Philippine Peso against the US Dollar, 2007-2012
Figure 5: Disposable Income per Household in the Philippines in USD and Household Size, 2007-2012
Figure 6: Number of Deployed Land-Based and Sea-Based Overseas Filipino Workers, 2007-2012
Figure 7: Number of Banks in the Philippines, 2007-2012
Figure 8: Number of ATMs in the Philippines, 2007-2012
Figure 9: Philippines Domestic Remittance Market Size on the Basis of Number of Transactions in Million and Transaction Volume in USD Million, 2012-2013
Figure 10: Philippines Domestic Remittance Market Segmentation on the Basis of Number of Transactions from Banking Channel and Non-Banking Channel in Percentage, 2012
Figure 11: Types of Services Available in the Non-Bank Channel along wither their contribution on the Basis of Number of Transactions in Percentage, 2012-2013
Figure 12: Types of Services Offered by the Bank Channel along with their Contribution on the Basis of Number of Transactions in Percentage, 2012
Figure 13: Migration Trend in the Philippines in 2010 and Estimates for 2012
Figure 14: Number of Pawnshops in the Philippines, 2007-2012
Figure 15: BPO Employees in the Philippines, 2007-2012
Figure 16: Philippines Domestic Bill Payment Market Size on the Basis of Transaction Volume in USD Million and Number of Transactions in Million, 2009-2012
Figure 17: Market Segmentation of the Philippines Bill Payment Market by Types of Payment on the basis of Transaction Volume in Percentage, 2012
Figure 18: Market Share of Various Sources of Bill Payments in the Philippines on the Basis of Transactions Volume in Percentage, 2012
Figure 19: Process of Sending Domestic M-Remittances through Cash-in/Cash-out in the Philippines
Figure 20: Process of Sending Domestic M-Remittances through Mobile Phones in the Philippines
Figure 21: The Philippines Domestic Remittance and Bill Payment Future Projections on the Basis of Transaction Volume in USD Million, 2013-2017
Figure 22: Global Remittance Market Size on the Basis of Transaction Volume in USD Billion and the Contribution of the Philippines in Percentage, 2007-2012
Figure 23: Philippines International Remittance Market Size on the Basis of Transaction Volume in USD Million, 2007-2012
Figure 24: Philippines International Remittance Market Segmentation on the basis of Inflows from Major Flow Corridors in Percentage, 2007-2012
Figure 25: Philippines International Remittance Market Future Projections on the Basis of Value of Transactions in USD Million, 2013-2017

LIST OF TABLES

Table 1: Age Wise Population in the Philippines in Million, 2012
Table 2: Household Final Consumption Expenditure at Constant Prices in the Philippines in USD Million, 2011-2012
Table 3: Household Final Consumption Expenditure by Income Class in Percentage, 2012
Table 4: Deployed Land-Based Overseas Filipino Workers by Country, 2008-2012
Table 5: Deployed Land-Based Overseas Filipino Workers (New Hires) by Type of Occupation, 2008-2012
Table 6: Unemployment and Underemployment Rate in Different Region in the Philippines in Percentage, 2011
Table 7: Region Wise Urbanization Rate in the Philippines in Percentage for 2007, 2010 and 2012
Table 8: Number of Banked and Un-Banked Municipalities in Philippines, 2012
Table 9: Market Share and Transaction Volume of Major Players in the Philippines Domestic Remittance Market in Percentage and USD Million Respectively, 2012
Table 10: Strengths and Weaknesses of Major Players in the Philippines Domestic Remittance Market
Table 11: Competitive Landscape of the Philippines Domestic Remittance Market
Table 12: Palawan Pawnshop's Rates for Domestic Remittance in the Philippines
Table 13: Cebuana Lhuillier's Rates for Domestic Remittance in the Philippines
Table 14: LBC Express' Rates for Domestic Remittance in the Philippines
Table 15: Western Union's Rates for Domestic Remittance in the Philippines
Table 16: M Lhuillier's Rates for Domestic Remittance in the Philippines
Table 17: Domestic Bill Payment Market Size in the Philippines in USD Million, 2012
Table 18: Competitive Landscape of the Philippine Mobile Remittance Market
Table 19: Relative Comparison of Banking and Non-Banking Remittance Channels
Table 20: Average Transaction Fee Charged for the US-Philippines Flow Corridor in USD, as of October 29, 2013
Table 21: Average Transaction Fee Charged for the Canada-Philippines Flow Corridor in USD, as of October 31, 2013
Table 22: Average Transaction Fee Charged for the Saudi Arabia-Philippines Flow Corridor in USD, as of October 29, 2013
Table 23: Philippines International Remittance Market Segmentation on the basis of Inflows from Major Flow Corridors in USD Million, 2007-2012
Table 24: Month-wise Overseas Filipino Remittances in the Philippines in USD Million, 2008-2013
Table 25: Market Share and Transaction Volume of Major Players in the Philippines International Remittance Market in Percentage and USD Million Respectively, 2012
Table 26: Strengths and Weaknesses of Banks and Major Non-Bank International Remittance Companies
Table 27: Competitive Landscape of the Philippines International Remittance Market
Table 28: Correlation Matrix of the Philippines International Remittance Market
Table 29: Regression Coefficients Output

Read the full report:
Philippines Domestic and International Money Transfer Industry Outlook to 2017 – Tie-ups and Price Wars to Influence the Market Growth

http://www.reportbuyer.com/banking_finance/online_banking/philippines_domestic_international_money_transfer_industry_outlook_2017_tie_ups_price_wars_influence_market_growth.html

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