Digital Remittance: Growth In Cross-Border Transactions And Mobile-Based Payment Channels

 

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The growth in payment automation and digitalization is expected to propel market growth. Numerous digital-savvy customers across the globe are opting for digital remittances, thereby driving the market growth. These customers are opting for digital remittances owing to their reduced transfer time. Rapid growth in urbanization and industrialization is drawing the inhabitants of various rural and semi-rural areas to urban parts. Numerous people are moving in search of employment or education to different countries and locations. This, as a result, increases the number of cross-border transactions. This, in turn, is expected to fuel the market growth.