MessengerBank Technology

MessengerBanks trusted and secure blockchain technology, low remittance costs and savings provided by shared services will deliver substantial business value across the whole economy.

Top Remittance Recipients

by Amount


Mexico receives a majority of remittances from the U.S. - the two nations have one of the largest remittance corridors in the world.

In absolute value terms, India and China are largest beneficiaries of remittances, receiving over 1/4 the global total in 2019.

Global Remittance Flows


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A strong global economy fueled a record in 2018 remittance flow approaching, $700 billion. Remittances, to low and middle-income countries are projected to record $597 billion by 2021.

To put this in perspective, in just 13 short years, between 2006 and 2019, the global remittance market ballooned from $276 billion to well over $700 billion; close to a 250% growth!


Top Remittance Recipients

as a % of GDP

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Market Overview

The International Remittance Market is moderately concentrated and is currently in the growth stage. The market includes both formal and informal payment service providers including banks, money transfer operators, mobile wallets, and postal networks. Prominent and major players are adopting new business strategies to adjust to the changing world of remittance and to position themselves in this expanding market.

The market has been fueled by increased migration, increasing government support for new competitors, improved banking knowledge and increased awareness towards digitalized remittance services. The market has displayed steady growth in terms of transaction value, supported by an increase in both inbound and outbound remittances. The total transaction value expanded at an average growth rate of close to 4%. The inbound remittance market is dominated by branch pick-ups and mobile / online transactions, followed by prepaid cards in terms of remittance transaction volume. The expected average growth rate for the next 3 years is close to 4% for inbound remittance and about 7% for outbound remittance.

Tonga saw inflows of just $190M, but this contributed to more than 1/3 of its total GDP

Annual Savings

using MessengerBank’s FinTech Solutions

You can swipe/scroll to the right to see the full table.

Remittance 2019
FinTech Cost
Saving (%)
Total Government Saving

Traditional Banking System

The largest financial messaging systems in world is SWIFT, it stands for Society for Worldwide Interbank Financial Telecommunication. Swift payments are a method of payment by sending an international money transfer via the SWIFT international payment network.

  • Remittance time: 2-5 days
  • Excessive exchange rates
  • Hidden fees and charges
  • High transfer fees
  • Direct Debit physical Contracts
  • Single currency account
  • No transparency
  • No transaction reports

FinTech Banking System

The business-to-business payment industry is now using, automated software tools and digital platforms. FinTech simply prompts the use of digital technology by offering innovative products and services such as mobile payments, alternative finance, online banking, data, and financial management. Consider fintech as the industry that will replace analog, traditional banking and financial transactions.

  • Remittance time: Instant – 48hrs
  • Spot exchange rates
  • No hidden fees
  • No or minimal transfer fees
  • Prescheduled transfer orders
  • Multi-currency accounts
  • Enhanced transparency
  • Transacting reports

FinTech is a game changer in international remittance, it offers transparency with real-time updates and provides exceptional security at the highest standard. This has redefined cross-border money transfers by Leveraging the cutting-edge technologies, FinTech enhances international remittance to become faster, vastly cost-effective and extremely secure.

FinTech is a key component for international remittance, more and more businesses are deploying and utilizing FinTech every day. Remittance can enhance the healthcare service, improve the education system, offer a more enriched standard of living by saving on remittance costs.