Sheet Table V.1/2 Table V.3 Table V.4 Table V.5a Table V.5b Table V.6 Table V.7a Table V.7b Table V.8a Table V.8b Table V.9 Table V.10 Contents INTEGRATION BETWEEN PAYMENT SYSTEMS IN DIFFERENT COUNTRIES and PLANS TO DEVELOP USE OF THE INTERNATIONAL SWIFT NETWORK SENDING AND RECEIVING COUNTRIES RSPs THAT REQUIRE LICENSE/AUTHORIZATION RSPs THAT REQUIRE LICENSE/AUTHORIZATION THE USE OF AGENTS OF RSPs THREE MOST IMPORTANT RSPs TYPES IN TERMS OF MARKET SHARE THREE MOST IMPORTANT RSPs TYPES IN TERMS OF MARKET SHARE THREE MOST USED PAYMENT MECHANISMS AND INSTRUMENTS BY REMITTANCE THREE MOST USED PAYMENT MECHANISMS AND INSTRUMENTS BY REMITTANCE FULFILLMENT OF TRANSPARENCY REQUIREMENTS IN REMITTANCE SERVICES ELEMENTS SHAPING THE COMPETITION ENVIRONMENT Table V.1/2 INTERFACES TO PAYMENT SYSTEMS IN OTHER COUNTRIE Local RTGS Local ACH with a direct Domestic Card Switch with a interface to ACH in other direct interface to domestic countries card switch in other countries # % # % # Global 26 25% 17 17% 11 High income 13 34% 13 33% 4 Upper middle income 7 23% 4 13% 6 Lower middle income 3 12% 0 0% 1 Low income 3 33% 0 0% 0 Europe & Central Asia 1 7% 1 7% 4 Latin America & Caribbean 5 26% 0 0% 0 Sub-Saharan Africa 5 29% 0 0% 2 High income OECD 11 38% 14 47% 2 East Asia & Pacific 3 27% 2 18% 1 Middle East & North Africa 1 14% 0 0% 2 South Asia 0 0% 0 0% 0 EMS IN OTHER COUNTRIES PLANS TO DEVELOP INTERFACES TO PAYMENT omestic Card Switch with a Local ACH with a direct Not planned Local RGTS with a direct interface rect interface to domestic interface to RTGS in other to RTGS in other country/ies rd switch in other countries countries % # % # % # 11% 2 2% 66 80% 6 11% 2 5% 28 90% 0 20% 0 0% 22 85% 3 4% 0 0% 14 74% 1 0% 0 0% 2 33% 2 25% 0 0% 12 92% 1 0% 0 0% 16 89% 1 12% 0 0% 5 42% 2 7% 2 7% 24 92% 0 9% 0 0% 6 60% 2 29% 0 0% 1 100% 0 0% 0 0% 2 100% 0 EVELOP INTERFACES TO PAYMENT SYSTEMS IN OTHER COUNTRIES ~ IN MORE THAN TWO YEARS RGTS with a direct interface Local ACH with a direct interface to Domestic Card Switch with a direct Local ACH with a direct interface to RTGS in other country/ies ACH in other country/ies interface to domestic card switch in RTGS in other country/ies. other country/ies % # % # % # 7% 5 6% 4 5% 1 0% 2 6% 0 0% 1 12% 0 0% 1 4% 0 5% 1 5% 3 16% 0 33% 2 33% 0 0% 0 8% 0 0% 0 0% 0 6% 1 6% 0 0% 0 17% 3 25% 2 17% 0 0% 1 4% 0 0% 1 20% 0 0% 2 20% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 S PLANS TO DEVELOP INTERFACES TO PAYMENT SYSTEMS IN OTHER ACH with a direct interface to Not planned Local ACH with a direct interface to Domestic Card Switch with a direct TGS in other country/ies. ACH in other country/ies interface to domestic card switch in other country/ies % # % # % # 1% 70 74% 10 11% 8 3% 27 79% 6 18% 0 0% 23 72% 2 6% 4 0% 16 80% 2 10% 1 0% 4 50% 0 0% 3 0% 12 80% 1 7% 2 0% 18 95% 0 0% 1 0% 8 53% 1 7% 3 4% 21 78% 5 19% 0 0% 8 89% 1 11% 0 0% 1 20% 2 40% 0 0% 2 50% 0 0% 2 YMENT SYSTEMS IN OTHER COUNTRIES ~ WITHIN TWO YEARS estic Card Switch with a direct Local RGTS with a direct interface Local ACH with a direct interface to ace to domestic card switch in to RTGS in other country/ies RTGS in other country/ies. other country/ies % # % # % 9% 4 4% 2 2% 0% 0 0% 1 3% 13% 2 6% 1 3% 5% 1 5% 0 0% 38% 1 13% 0 0% 13% 0 0% 0 0% 5% 0 0% 0 0% 20% 2 13% 1 7% 0% 0 0% 1 4% 0% 0 0% 0 0% 0% 2 40% 0 0% 50% 0 0% 0 0% Table V.3 SWIFT CONNECTIVITY 90% or more of commercial Less than 90% but at least Some banks or other financial banks in your country are 50% of commercial banks are institutions can use SWIFT connected to SWIFT connected to SWIFT through a SWIFT Service Bureau operated by the Central Bank or another # % # % # Global 92 87% 11 10% 2 High income 32 82% 6 15% 1 Upper middle income 29 88% 3 9% 0 Lower middle income 24 92% 1 4% 1 Low income 7 88% 1 13% 0 Europe & Central Asia 15 94% 0 0% 1 Latin America & Caribbean 16 80% 2 10% 1 Sub-Saharan Africa 15 94% 1 6% 0 High income OECD 25 83% 5 17% 0 East Asia & Pacific 8 73% 3 27% 0 Middle East & North Africa 8 100% 0 0% 0 South Asia 5 100% 0 0% 0 me banks or other financial Some banks or other financial stitutions can use SWIFT institutions can use SWIFT hrough a SWIFT Service through the Central Bank’s Bureau operated by the own connection to SWIFT Central Bank or another % # % 2% 1 1% 3% 0 0% 0% 1 3% 4% 0 0% 0% 0 0% 6% 0 0% 5% 1 5% 0% 0 0% 0% 0 0% 0% 0 0% 0% 0 0% 0% 0 0% Table V.4 REMITTANCE-SENDING VS. RECEIVING COUNTRIES Mainly a remittance-receiving Both remittance sending and Mainly a remittance-sending country receiving are significant in the country country (e.g. one of the two legs is at least 20% of the other) # % # % # Global 43 41% 33 31% 30 High income 3 8% 13 34% 22 Upper middle income 16 48% 11 33% 6 Lower middle income 20 74% 5 19% 2 Low income 4 50% 4 50% 0 Europe & Central Asia 11 65% 4 24% 2 Latin America & Caribbean 12 60% 3 15% 5 Sub-Saharan Africa 7 44% 7 44% 2 High income OECD 3 10% 11 38% 15 East Asia & Pacific 6 55% 2 18% 3 Middle East & North Africa 2 25% 4 50% 2 South Asia 2 40% 2 40% 1 ainly a remittance-sending country % 28% 58% 18% 7% 0% 12% 25% 13% 52% 27% 25% 20% Table V.5a RSPs THAT REQUIRE LICENSE/AUTHORIZATION A. COMMERCIAL BANKS The RSP is subject to a The RSP can offer remittance Not applicable / does not specific licensing and/or services as a principal under operate in country registration regime in order to a general license as bank, offer remittance services as a exchange bureaus, financial principal cooperative, etc. # % # % # Global 42 53% 33 42% 2 High income 15 52% 13 45% 1 Upper middle income 12 43% 14 50% 1 Lower middle income 12 67% 5 28% 0 Low income 3 75% 1 25% 0 Europe & Central Asia 7 47% 7 47% 1 Latin America & Caribbean 4 29% 7 50% 1 Sub-Saharan Africa 9 90% 1 10% 0 High income OECD 11 52% 10 48% 0 East Asia & Pacific 6 67% 3 33% 0 Middle East & North Africa 3 43% 4 57% 0 South Asia 2 67% 1 33% 0 . COMMERCIAL BANKS Not applicable / does not The RSP is allowed to offer The type of entity is not The RSP is subject to a specific operate in country remittance services without allowed to offer remittance licensing and/or registration regime any license and/or services as Principal in order to offer remittance registration services as a principal % # % # % # % 3% 2 3% 0 0% 65 68% 3% 0 0% 0 0% 24 69% 4% 1 4% 0 0% 18 64% 0% 1 6% 0 0% 17 68% 0% 0 0% 0 0% 6 75% 7% 0 0% 0 0% 7 47% 7% 2 14% 0 0% 13 76% 0% 0 0% 0 0% 11 73% 0% 0 0% 0 0% 19 70% 0% 0 0% 0 0% 8 89% 0% 0 0% 0 0% 4 50% 0% 0 0% 0 0% 3 60% B. INTERNATIONAL MTOs The RSP can offer remittance The RSP is allowed to offer Not applicable / does not operate services as a principal under a remittance services without any in country general license as bank, exchange license and/or registration bureaus, financial cooperative, etc. # % # % # % 12 13% 9 9% 5 5% 4 11% 4 11% 2 6% 5 18% 3 11% 1 4% 3 12% 1 4% 2 8% 0 0% 1 13% 0 0% 2 13% 1 7% 3 20% 1 6% 2 12% 0 0% 2 13% 1 7% 0 0% 4 15% 3 11% 1 4% 0 0% 1 11% 0 0% 2 25% 1 13% 0 0% 1 20% 0 0% 1 20% C. LOCAL The type of entity is not allowed to The RSP is subject to a specific Not applicable / does not operate offer remittance services as licensing and/or registration regime in country Principal in order to offer remittance services as a principal # % # % # % 5 5% 64 67% 14 15% 1 3% 24 71% 2 6% 1 4% 20 67% 4 13% 2 8% 15 60% 7 28% 1 13% 5 71% 1 14% 2 13% 10 63% 2 13% 1 6% 10 59% 3 18% 1 7% 10 67% 4 27% 0 0% 20 74% 0 0% 0 0% 8 89% 0 0% 1 13% 3 43% 3 43% 0 0% 3 60% 2 40% C. LOCAL MTOs The RSP can offer remittance The RSP is allowed to offer The type of entity is not allowed to services as a principal under a remittance services without any offer remittance services as general license as bank, exchange license and/or registration Principal bureaus, financial cooperative, etc. # % # % # % 8 8% 5 5% 5 5% 4 12% 4 12% 0 0% 3 10% 1 3% 2 7% 1 4% 0 0% 2 8% 0 0% 0 0% 1 14% 3 19% 0 0% 1 6% 0 0% 2 12% 2 12% 0 0% 0 0% 1 7% 4 15% 3 11% 0 0% 0 0% 0 0% 1 11% 1 14% 0 0% 0 0% 0 0% 0 0% 0 0% D. EXCHANGE BUREAUS / EXCHANGE HOUSES The RSP is subject to a specific The type of entity is not allowed to Not applicable / does not operate licensing and/or registration regime offer remittance services as in country in order to offer remittance Principal services as a principal # % # % # % 35 38% 21 23% 16 18% 14 41% 6 18% 5 15% 12 44% 6 22% 3 11% 6 27% 6 27% 6 27% 3 38% 3 38% 2 25% 3 21% 5 36% 3 21% 3 19% 4 25% 5 31% 6 40% 5 33% 3 20% 13 50% 5 19% 2 8% 6 75% 0 0% 1 13% 4 57% 1 14% 0 0% 0 0% 1 20% 2 40% CHANGE HOUSES The RSP can offer remittance The RSP is allowed to offer The RSP is subject to a specific services as a principal under a remittance services without any licensing and/or registration regime general license as bank, exchange license and/or registration in order to offer remittance bureaus, financial cooperative, etc. services as a principal # % # % # % 15 16% 4 4% 22 25% 6 18% 3 9% 9 26% 5 19% 1 4% 7 28% 4 18% 0 0% 5 25% 0 0% 0 0% 1 13% 3 21% 0 0% 4 29% 3 19% 1 6% 3 19% 1 7% 0 0% 1 7% 3 12% 3 12% 7 27% 1 13% 0 0% 4 67% 2 29% 0 0% 0 0% 2 40% 0 0% 3 60% E. FINANCIAL COOPERATIVES AND CREDIT UNIONS The RSP can offer remittance Not applicable / does not operate The type of entity is not allowed to services as a principal under a in country offer remittance services as general license as bank, exchange Principal bureaus, financial cooperative, etc. # % # % # % 22 25% 20 23% 20 23% 13 38% 6 18% 4 12% 5 20% 8 32% 5 20% 3 15% 5 25% 7 35% 1 13% 1 13% 4 50% 1 7% 5 36% 4 29% 5 31% 3 19% 5 31% 2 14% 4 29% 6 43% 12 46% 3 12% 2 8% 0 0% 1 17% 1 17% 1 17% 3 50% 2 33% 1 20% 1 20% 0 0% F. M The RSP is allowed to offer The RSP is subject to a specific Not applicable / does not operate remittance services without any licensing and/or registration regime in country license and/or registration in order to offer remittance services as a principal # % # % # % 3 3% 25 29% 25 29% 2 6% 10 29% 9 26% 0 0% 6 25% 11 46% 0 0% 6 30% 4 20% 1 13% 3 43% 1 14% 0 0% 3 23% 6 46% 0 0% 3 20% 7 47% 1 7% 3 23% 2 15% 2 8% 7 27% 6 23% 0 0% 5 71% 0 0% 0 0% 1 17% 2 33% 0 0% 3 60% 2 40% F. MFIs The type of entity is not allowed to The RSP can offer remittance The RSP is allowed to offer offer remittance services as services as a principal under a remittance services without any Principal general license as bank, exchange license and/or registration bureaus, financial cooperative, etc. # % # % # % 16 19% 14 16% 5 6% 3 9% 9 26% 3 9% 5 21% 1 4% 1 4% 6 30% 4 20% 0 0% 2 29% 0 0% 1 14% 2 15% 2 15% 0 0% 2 13% 2 13% 1 7% 6 46% 1 8% 1 8% 2 8% 8 31% 3 12% 1 14% 1 14% 0 0% 3 50% 0 0% 0 0% 0 0% 0 0% 0 0% G. POSTAL NETWORK The RSP is subject to a specific Not applicable / does not operate The RSP is allowed to offer licensing and/or registration regime in country remittance services without any in order to offer remittance license and/or registration services as a principal # % # % # % 36 42% 15 17% 14 16% 13 39% 6 18% 6 18% 13 50% 3 12% 4 15% 8 40% 4 20% 3 15% 2 29% 2 29% 1 14% 7 47% 3 20% 2 13% 3 20% 5 33% 1 7% 7 50% 1 7% 4 29% 11 44% 3 12% 6 24% 4 80% 1 20% 0 0% 1 14% 1 14% 0 0% 3 60% 1 20% 1 20% WORK H. MOBILE NETWOR The RSP can offer remittance The type of entity is not allowed to The RSP is subject to a specific services as a principal under a offer remittance services as licensing and/or registration regime general license as bank, exchange Principal in order to offer remittance bureaus, financial cooperative, etc. services as a principal # % # % # % 11 13% 10 12% 39 43% 6 18% 2 6% 11 32% 2 8% 4 15% 10 38% 2 10% 3 15% 12 52% 1 14% 1 14% 6 75% 1 7% 2 13% 4 29% 2 13% 4 27% 4 25% 1 7% 1 7% 9 60% 4 16% 1 4% 11 42% 0 0% 0 0% 6 75% 3 43% 2 29% 2 29% 0 0% 0 0% 3 60% H. MOBILE NETWORK OPERATORS (MNOS) OR OTHER ENTITIES PROVIDING MOBILE MONEY SERVICES Not applicable / does not operate The type of entity is not allowed to The RSP can offer remittance in country offer remittance services as services as a principal under a Principal general license as bank, exchange bureaus, financial cooperative, etc. # % # % # % 26 29% 16 18% 6 7% 12 35% 6 18% 2 6% 7 27% 4 15% 4 15% 6 26% 5 22% 0 0% 1 13% 1 13% 0 0% 6 43% 3 21% 1 7% 9 56% 1 6% 1 6% 4 27% 1 7% 1 7% 5 19% 5 19% 2 8% 0 0% 2 25% 0 0% 1 14% 3 43% 1 14% 1 20% 1 20% 0 0% EY SERVICES I. MTOs OFFERING THEIR SERVICES EX The RSP is allowed to offer The RSP is subject to a specific Not applicable / does not operate remittance services without any licensing and/or registration regime in country license and/or registration in order to offer remittance services as a principal # % # % # % 4 4% 38 44% 29 33% 3 9% 16 47% 8 24% 1 4% 11 46% 6 25% 0 0% 7 33% 12 57% 0 0% 4 50% 3 38% 0 0% 4 29% 8 57% 1 6% 6 38% 8 50% 0 0% 7 50% 5 36% 3 12% 15 58% 2 8% 0 0% 4 67% 0 0% 0 0% 1 17% 3 50% 0 0% 1 20% 3 60% FERING THEIR SERVICES EXCLUSIVELY THROUGH THE INTERNET The type of entity is not allowed to The RSP can offer remittance The RSP is allowed to offer offer remittance services as services as a principal under a remittance services without any Principal general license as bank, exchange license and/or registration bureaus, financial cooperative, etc. # % # % # % 9 10% 6 7% 5 6% 2 6% 4 12% 4 12% 5 21% 1 4% 1 4% 2 10% 0 0% 0 0% 0 0% 1 13% 0 0% 1 7% 1 7% 0 0% 1 6% 0 0% 1 6% 2 14% 0 0% 0 0% 1 4% 4 15% 4 15% 2 33% 0 0% 0 0% 2 33% 0 0% 0 0% 0 0% 1 20% 0 0% Table V.5b RSPs THAT REQUIRE LICENSE/AUTHORIZATION THE RSP CAN OFFER REMITTANCE SE Commercial Banks Financial cooperatives and Exchange bureaus / credit unions Exchange houses # % # % # Global 33 42% 22 25% 15 High income 13 45% 13 38% 6 Upper middle income 14 50% 5 20% 5 Lower middle income 5 28% 3 15% 4 Low income 1 25% 1 13% 0 Europe & Central Asia 7 47% 1 7% 3 Latin America & Caribbean 7 50% 5 31% 3 Sub-Saharan Africa 1 10% 2 14% 1 High income OECD 10 48% 12 46% 3 East Asia & Pacific 3 33% 0 0% 1 Middle East & North Africa 4 57% 1 17% 2 South Asia 1 33% 1 20% 2 N OFFER REMITTANCE SERVICES AS A PRINCIPAL UNDER A GENERAL LICENSE AS BANK, EXCHANGE BUREAUS, FINANCIAL C Exchange bureaus / MFIs Postal network International MTOs (e.g. Exchange houses Western Union, Money Gram, UAE Exchange, Ria etc.) % # % # % # % 16% 14 16% 11 13% 12 13% 18% 9 26% 6 18% 4 11% 19% 1 4% 2 8% 5 18% 18% 4 20% 2 10% 3 12% 0% 0 0% 1 14% 0 0% 21% 2 15% 1 7% 2 13% 19% 2 13% 2 13% 1 6% 7% 1 8% 1 7% 2 13% 12% 8 31% 4 16% 4 15% 13% 1 14% 0 0% 0 0% 29% 0 0% 3 43% 2 25% 40% 0 0% 0 0% 1 20% ANGE BUREAUS, FINANCIAL COOPERATIVE, ETC. Local MTOs MTOs offering their services Mobile network operators Postal network exclusively through the (MNOs) or other entities internet providing mobile money services # % # % # % # 8 8% 6 7% 6 7% 14 4 12% 4 12% 2 6% 6 3 10% 1 4% 4 15% 4 1 4% 0 0% 0 0% 3 0 0% 1 13% 0 0% 1 3 19% 1 7% 1 7% 2 0 0% 0 0% 1 6% 1 0 0% 0 0% 1 7% 4 4 15% 4 15% 2 8% 6 0 0% 0 0% 0 0% 0 1 14% 0 0% 1 14% 0 0 0% 1 20% 0 0% 1 THE RSP IS ALLOWED TO OFFER REM Postal network International MTOs (e.g. Western MFIs MTOs offering their services Union, Money Gram, UAE exclusively through the internet Exchange, Ria etc.) % # % # % # 16% 9 9% 5 6% 5 18% 4 11% 3 9% 4 15% 3 11% 1 4% 1 15% 1 4% 0 0% 0 14% 1 13% 1 14% 0 13% 1 7% 0 0% 0 7% 2 12% 1 7% 1 29% 1 7% 1 8% 0 24% 3 11% 3 12% 4 0% 1 11% 0 0% 0 0% 1 13% 0 0% 0 20% 0 0% 0 0% 0 S ALLOWED TO OFFER REMITTANCE SERVICES WITHOUT ANY LICENSE AND/OR REGISTRATION TOs offering their services Local MTOs Exchange bureaus / Exchange Mobile network operators (MNOs) lusively through the internet houses or other entities providing mobile money services % # % # % # 6% 5 5% 4 4% 4 12% 4 12% 3 9% 3 4% 1 3% 1 4% 1 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 6% 2 12% 1 6% 1 0% 0 0% 0 0% 0 15% 3 11% 3 12% 3 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 e network operators (MNOs) Financial cooperatives and credit Commercial Banks International MTOs (e.g. Western her entities providing mobile unions Union, Money Gram, UAE money services Exchange, Ria etc.) % # % # % # 4% 3 3% 2 3% 65 9% 2 6% 0 0% 24 4% 0 0% 1 4% 18 0% 0 0% 1 6% 17 0% 1 13% 0 0% 6 0% 0 0% 0 0% 7 6% 0 0% 2 14% 13 0% 1 7% 0 0% 11 12% 2 8% 0 0% 19 0% 0 0% 0 0% 8 0% 0 0% 0 0% 4 0% 0 0% 0 0% 3 THE RSP IS SUBJECT TO A SPECIFIC LICENSING AND/OR national MTOs (e.g. Western Local MTOs Commercial Banks MTOs offering their services Union, Money Gram, UAE exclusively through the internet Exchange, Ria etc.) % # % # % # 68% 64 67% 42 53% 38 69% 24 71% 15 52% 16 64% 20 67% 12 43% 11 68% 15 60% 12 67% 7 75% 5 71% 3 75% 4 47% 10 63% 7 47% 4 76% 10 59% 4 29% 6 73% 10 67% 9 90% 7 70% 20 74% 11 52% 15 89% 8 89% 6 67% 4 50% 3 43% 3 43% 1 60% 3 60% 2 67% 1 PECIFIC LICENSING AND/OR REGISTRATION REGIME IN ORDER TO OFFER REMITTANCE SERVICES AS A PRINCIPAL TOs offering their services Mobile network operators (MNOs) Postal network Exchange bureaus / Exchange lusively through the internet or other entities providing mobile houses money services % # % # % # 44% 39 43% 36 42% 35 47% 11 32% 13 39% 14 46% 10 38% 13 50% 12 33% 12 52% 8 40% 6 50% 6 75% 2 29% 3 29% 4 29% 7 47% 3 38% 4 25% 3 20% 3 50% 9 60% 7 50% 6 58% 11 42% 11 44% 13 67% 6 75% 4 80% 6 17% 2 29% 1 14% 4 20% 3 60% 3 60% 0 S AS A PRINCIPAL hange bureaus / Exchange MFIs Financial cooperatives and credit Exchange bureaus / Exchange houses unions houses % # % # % # 38% 25 29% 22 25% 21 41% 10 29% 9 26% 6 44% 6 25% 7 28% 6 27% 6 30% 5 25% 6 38% 3 43% 1 13% 3 21% 3 23% 4 29% 5 19% 3 20% 3 19% 4 40% 3 23% 1 7% 5 50% 7 27% 7 27% 5 75% 5 71% 4 67% 0 57% 1 17% 0 0% 1 0% 3 60% 3 60% 1 THE TYPE OF ENTITY IS NOT hange bureaus / Exchange Financial cooperatives and credit MFIs Mobile network operators (MNOs) houses unions or other entities providing mobile money services % # % # % # 23% 20 23% 16 19% 16 18% 4 12% 3 9% 6 22% 5 20% 5 21% 4 27% 7 35% 6 30% 5 38% 4 50% 2 29% 1 36% 4 29% 2 15% 3 25% 5 31% 2 13% 1 33% 6 43% 6 46% 1 19% 2 8% 2 8% 5 0% 1 17% 1 14% 2 14% 2 33% 3 50% 3 20% 0 0% 0 0% 1 HE TYPE OF ENTITY IS NOT ALLOWED TO OFFER REMITTANCE SERVICES AS PRINCIPAL e network operators (MNOs) Postal network MTOs offering their services International MTOs (e.g. Western her entities providing mobile exclusively through the internet Union, Money Gram, UAE money services Exchange, Ria etc.) % # % # % # 18% 10 12% 9 10% 5 18% 2 6% 2 6% 1 15% 4 15% 5 21% 1 22% 3 15% 2 10% 2 13% 1 14% 0 0% 1 21% 2 13% 1 7% 2 6% 4 27% 1 6% 1 7% 1 7% 2 14% 1 19% 1 4% 1 4% 0 25% 0 0% 2 33% 0 43% 2 29% 2 33% 1 20% 0 0% 0 0% 0 national MTOs (e.g. Western Local MTOs Commercial Banks MTOs offering their services Union, Money Gram, UAE exclusively through the internet Exchange, Ria etc.) % # % # % # 5% 5 5% 0 0% 29 3% 0 0% 0 0% 8 4% 2 7% 0 0% 6 8% 2 8% 0 0% 12 13% 1 14% 0 0% 3 13% 1 6% 0 0% 8 6% 2 12% 0 0% 8 7% 1 7% 0 0% 5 0% 0 0% 0 0% 2 0% 1 11% 0 0% 0 13% 0 0% 0 0% 3 0% 0 0% 0 0% 3 NOT APPLIC TOs offering their services MFIs Mobile network operators (MNOs) Financial cooperatives and credit lusively through the internet or other entities providing mobile unions money services % # % # % # 33% 25 29% 26 29% 20 24% 9 26% 12 35% 6 25% 11 46% 7 27% 8 57% 4 20% 6 26% 5 38% 1 14% 1 13% 1 57% 6 46% 6 43% 5 50% 7 47% 9 56% 3 36% 2 15% 4 27% 4 8% 6 23% 5 19% 3 0% 0 0% 0 0% 1 50% 2 33% 1 14% 3 60% 2 40% 1 20% 1 NOT APPLICABLE / DOES NOT OPERATE IN COUNTRY ncial cooperatives and credit Exchange bureaus / Exchange Postal network Local MTOs unions houses % # % # % # 23% 16 18% 15 17% 14 18% 5 15% 6 18% 2 32% 3 11% 3 12% 4 25% 6 27% 4 20% 7 13% 2 25% 2 29% 1 36% 3 21% 3 20% 2 19% 5 31% 5 33% 3 29% 3 20% 1 7% 4 12% 2 8% 3 12% 0 17% 1 13% 1 20% 0 50% 0 0% 1 14% 3 20% 2 40% 1 20% 2 Local MTOs International MTOs (e.g. Western Commercial Banks Union, Money Gram, UAE Exchange, Ria etc.) % # % # % 15% 5 5% 2 3% 6% 2 6% 1 3% 13% 1 4% 1 4% 28% 2 8% 0 0% 14% 0 0% 0 0% 13% 3 20% 1 7% 18% 0 0% 1 7% 27% 0 0% 0 0% 0% 1 4% 0 0% 0% 0 0% 0 0% 43% 0 0% 0 0% 40% 1 20% 0 0% Table V.6 AGENTS OF RSPs IS THE USE OF AGENTS OF RSPs PERMITTED? Yes No Retail outlets (supermarket, pharmacies, gas stations) # % # % # Global 93 87% 14 13% 22 High income 35 90% 4 10% 5 Upper middle income 29 88% 4 12% 9 Lower middle income 23 85% 4 15% 7 Low income 6 75% 2 25% 1 Europe & Central Asia 14 82% 3 18% 4 Latin America & Caribbean 19 90% 2 10% 4 Sub-Saharan Africa 13 81% 3 19% 3 High income OECD 29 97% 1 3% 4 East Asia & Pacific 8 80% 2 20% 4 Middle East & North Africa 6 75% 2 25% 3 South Asia 4 80% 1 20% 0 INSTITUTIONS THAT CANNOT PERFO etail outlets (supermarket, Mobile network operators MFIs Exchange bureaus harmacies, gas stations) % # % # % # 27% 21 26% 18 24% 19 16% 8 28% 6 21% 3 35% 7 27% 5 20% 8 37% 5 24% 6 35% 6 20% 1 20% 1 25% 2 33% 4 31% 2 17% 6 29% 4 29% 4 31% 4 27% 1 8% 2 22% 4 15% 7 28% 5 20% 2 50% 2 29% 3 43% 1 60% 3 50% 1 20% 1 0% 0 0% 1 25% 1 IONS THAT CANNOT PERFORM THE ROLE OF AGENTS OF RSPs Exchange bureaus Financial cooperatives and credit Postal network Local MTOs (acting also as agents unions of international MTOs) % # % # % # 24% 18 23% 11 13% 7 10% 4 13% 1 3% 1 30% 6 23% 4 14% 3 33% 6 33% 4 21% 2 40% 2 40% 2 40% 1 46% 4 33% 1 7% 2 29% 3 20% 4 25% 0 36% 4 36% 2 18% 2 8% 2 7% 1 4% 1 14% 3 43% 2 33% 2 20% 2 50% 1 17% 0 25% 0 0% 0 0% 0 MTOs (acting also as agents Commercial banks MFIs Mobile network operators of international MTOs) % # % # % # 8% 5 6% 21 28% 17 3% 2 6% 10 34% 7 12% 2 7% 8 32% 5 9% 0 0% 2 12% 5 20% 1 20% 1 25% 0 17% 1 7% 3 25% 3 0% 1 6% 4 31% 6 17% 1 8% 2 22% 1 4% 1 4% 8 32% 4 29% 1 14% 0 0% 1 0% 0 0% 2 40% 1 0% 0 0% 2 50% 1 INSTITUTIONS THAT CAN PERFORM THE ROLE OF AGENTS OF RSPs ~ NOT APPLICABLE Mobile network operators Retail outlets (supermarket, Financial cooperatives and credit Exchange bureaus pharmacies, gas stations) unions % # % # % # 21% 16 20% 15 19% 12 24% 5 16% 6 19% 6 19% 4 15% 5 19% 4 24% 7 37% 3 17% 2 0% 0 0% 1 20% 0 23% 3 25% 2 17% 2 43% 4 29% 1 7% 4 8% 2 18% 3 27% 0 16% 3 11% 5 19% 4 14% 1 13% 0 0% 0 17% 1 20% 2 50% 0 25% 2 50% 2 50% 2 F RSPs ~ NOT APPLICABLE / DOES NOT OPERATE Exchange bureaus Postal network Local MTOs (acting also as agents Commercial banks of international MTOs) % # % # % # 15% 10 12% 7 8% 2 20% 5 16% 1 3% 1 15% 2 7% 1 4% 1 11% 3 16% 5 23% 0 0% 0 0% 0 0% 0 15% 2 14% 2 17% 0 29% 2 13% 2 11% 1 0% 0 0% 0 0% 0 15% 4 15% 1 4% 1 0% 0 0% 0 0% 0 0% 1 17% 0 0% 0 50% 1 25% 2 50% 0 INS Commercial banks Commercial banks Local MTOs (acting also as agents Postal network of international MTOs) % # % # % # 2% 79 92% 71 84% 62 3% 29 91% 30 94% 25 4% 24 89% 22 85% 22 0% 22 100% 15 68% 12 0% 4 80% 4 80% 3 0% 13 93% 8 67% 11 6% 15 88% 16 89% 10 0% 11 92% 10 83% 9 4% 24 92% 24 92% 21 0% 6 86% 5 71% 4 0% 6 100% 6 100% 4 0% 4 100% 2 50% 3 INSTITUTIONS THAT CAN PERFORM THE ROLE OF AGENTS OF RSPs Postal network Exchange bureaus Financial cooperatives and credit Mobile network operators unions % # % # % # 75% 49 61% 47 59% 43 81% 21 70% 21 68% 14 79% 15 56% 15 58% 14 63% 10 56% 9 50% 11 60% 3 60% 2 40% 4 79% 5 38% 6 50% 6 63% 6 43% 11 73% 4 82% 7 64% 4 36% 10 81% 20 77% 20 74% 14 67% 6 86% 4 57% 4 67% 4 80% 0 0% 2 75% 1 25% 2 50% 3 IS THE USE OF SUB-AGENTS (OF Mobile network operators Retail outlets (supermarket, MFIs Yes pharmacies, gas stations) % # % # % # 53% 43 53% 36 48% 41 48% 21 68% 13 45% 16 54% 13 50% 12 48% 12 52% 5 26% 9 53% 9 80% 4 80% 2 50% 4 46% 5 42% 7 58% 3 29% 6 43% 5 38% 11 83% 6 55% 5 56% 7 56% 20 74% 12 48% 14 57% 3 38% 4 57% 2 33% 1 20% 2 40% 3 75% 2 50% 1 25% 1 E USE OF SUB-AGENTS (OF RSPs’ AGENTS) PERMITTED? Yes No % # % 52% 38 48% 57% 12 43% 48% 13 52% 43% 12 57% 80% 1 20% 21% 11 79% 73% 4 27% 64% 4 36% 61% 9 39% 29% 5 71% 60% 2 40% 25% 3 75% Table V.7a THREE MOST IMPORTANT RSPs IN TERMS OF MARKET SHARE FOR INITIATION OF R COMMERCIAL BANKS (VIA BANKING CHANNELS E.G. AS CORRESPONDENT BANKS, SWIFT MESSAGING ETC.) First Third Second # % # % # % Global 46 43% 17 16% 16 15% High income 14 36% 3 8% 7 18% Upper middle income 13 39% 8 24% 5 15% Lower middle income 17 63% 4 15% 2 7% Low income 2 25% 2 25% 2 25% Europe & Central Asia 10 59% 2 12% 4 24% Latin America & Caribbean 7 33% 4 19% 5 24% Sub-Saharan Africa 6 38% 4 25% 2 13% High income OECD 10 33% 3 10% 5 17% East Asia & Pacific 5 50% 3 30% 0 0% Middle East & North Africa 4 50% 1 13% 0 0% South Asia 4 80% 0 0% 0 0% SHARE FOR INITIATION OF REMITTANCE TRANSACTIONS OR DISBURSEMENT OF REMITTANCE TRANSACTIONS COMMERCIAL BANKS AS AGENTS OF OR IN PARTNERSHIPS WITH EXCHANGE BUREAUS MTOs First Second Third First Second # % # % # % # % # 12 11% 31 29% 14 13% 1 1% 5 1 3% 7 18% 5 13% 0 0% 2 5 15% 8 24% 4 12% 1 3% 1 4 15% 11 41% 4 15% 0 0% 2 2 25% 5 63% 1 13% 0 0% 0 3 18% 7 41% 3 18% 0 0% 0 2 10% 5 24% 1 5% 0 0% 0 4 25% 9 56% 1 6% 1 6% 1 1 3% 3 10% 6 20% 0 0% 2 0 0% 2 20% 3 30% 0 0% 0 1 13% 2 25% 0 0% 0 0% 2 1 20% 3 60% 0 0% 0 0% 0 ACTIONS EXCHANGE BUREAUS FINANCIAL COOPERATIVES AND CREDIT UNIONS Second Third First Second Third % # % # % # % # % 5% 3 3% 0 0% 1 1% 2 2% 5% 1 3% 0 0% 0 0% 0 0% 3% 1 3% 0 0% 1 3% 2 6% 7% 1 4% 0 0% 0 0% 0 0% 0% 0 0% 0 0% 0 0% 0 0% 0% 0 0% 0 0% 0 0% 0 0% 0% 1 5% 0 0% 1 5% 2 10% 6% 0 0% 0 0% 0 0% 0 0% 7% 1 3% 0 0% 0 0% 0 0% 0% 0 0% 0 0% 0 0% 0 0% 25% 1 13% 0 0% 0 0% 0 0% 0% 0 0% 0 0% 0 0% 0 0% INTERNATIONAL MTOs LOCAL MTOs First Second Third First Second # % # % # % # % # 34 32% 26 24% 14 13% 4 4% 10 16 41% 9 23% 5 13% 0 0% 5 8 24% 11 33% 3 9% 4 12% 4 6 22% 5 19% 5 19% 0 0% 1 4 50% 1 13% 1 13% 0 0% 0 3 18% 2 12% 3 18% 1 6% 0 8 38% 8 38% 1 5% 2 10% 0 5 31% 2 13% 2 13% 0 0% 2 12 40% 8 27% 4 13% 0 0% 5 4 40% 3 30% 1 10% 1 10% 2 2 25% 3 38% 1 13% 0 0% 0 0 0% 0 0% 2 40% 0 0% 1 LOCAL MTOs MFIs Second Third First Second Third % # % # % # % # % 9% 17 16% 0 0% 3 3% 4 4% 13% 7 18% 0 0% 0 0% 1 3% 12% 6 18% 0 0% 1 3% 1 3% 4% 4 15% 0 0% 2 7% 2 7% 0% 0 0% 0 0% 0 0% 0 0% 0% 3 18% 0 0% 2 12% 0 0% 0% 6 29% 0 0% 0 0% 0 0% 13% 2 13% 0 0% 0 0% 1 6% 17% 3 10% 0 0% 0 0% 1 3% 20% 1 10% 0 0% 1 10% 1 10% 0% 2 25% 0 0% 0 0% 0 0% 20% 0 0% 0 0% 0 0% 1 20% MNOs OR OTHER NON-BANK PROVIDERS OFFERING MOBILE POSTAL NETWORK MONEY SERVICES First Second Third First Second # % # % # % # % # 0 0% 3 3% 6 6% 4 4% 4 0 0% 0 0% 0 0% 3 8% 4 0 0% 0 0% 1 3% 1 3% 0 0 0% 3 11% 2 7% 0 0% 0 0 0% 0 0% 3 38% 0 0% 0 0 0% 0 0% 0 0% 0 0% 1 0 0% 0 0% 1 5% 1 5% 0 0 0% 0 0% 3 19% 0 0% 0 0 0% 0 0% 0 0% 3 10% 3 0 0% 2 20% 1 10% 0 0% 0 0 0% 0 0% 1 13% 0 0% 0 0 0% 1 20% 0 0% 0 0% 0 POSTAL NETWORK Second Third % # % 4% 17 16% 10% 9 23% 0% 3 9% 0% 4 15% 0% 1 13% 6% 3 18% 0% 3 14% 0% 2 13% 10% 6 20% 0% 0 0% 0% 1 13% 0% 2 40% Table V.7b RANK THE THREE MOST IMPORTANT RSPs IN TERMS OF MARKET SHARE FOR INITI Commercial banks (via International MTOs (e.g. Commercial banks as agents banking channels e.g. as Western Union, Money of or in partnerships with correspondent banks, SWIFT Gram, UAE Exchange, Ria, MTOs messaging etc.) etc.) # % # % # Global 46 43% 34 32% 12 High income 14 36% 16 41% 1 Upper middle income 13 39% 8 24% 5 Lower middle income 17 63% 6 22% 4 Low income 2 25% 4 50% 2 Europe & Central Asia 10 59% 3 18% 3 Latin America & Caribbean 7 33% 8 38% 2 Sub-Saharan Africa 6 38% 5 31% 4 High income OECD 10 33% 12 40% 1 East Asia & Pacific 5 50% 4 40% 0 Middle East & North Africa 4 50% 2 25% 1 South Asia 4 80% 0 0% 1 Commercial banks as agents International MTOs (e.g. Commercial banks (via # % # % # Global 31 29% 26 24% 16 High income 7 18% 9 23% 7 Upper middle income 8 24% 11 33% 5 Lower middle income 11 41% 5 19% 2 Low income 5 63% 1 13% 2 Europe & Central Asia 7 41% 2 12% 4 Latin America & Caribbean 5 24% 8 38% 5 Sub-Saharan Africa 9 56% 2 13% 2 High income OECD 3 10% 8 27% 5 East Asia & Pacific 2 20% 3 30% 0 Middle East & North Africa 2 25% 3 38% 0 South Asia 3 60% 0 0% 0 Commercial banks (via Postal network Local MTOs # % # % # Global 17 16% 17 16% 17 High income 3 8% 9 23% 7 Upper middle income 8 24% 3 9% 6 Lower middle income 4 15% 4 15% 4 Low income 2 25% 1 13% 0 Europe & Central Asia 2 12% 3 18% 3 Latin America & Caribbean 4 19% 3 14% 6 Sub-Saharan Africa 4 25% 2 13% 2 High income OECD 3 10% 6 20% 3 East Asia & Pacific 3 30% 0 0% 1 Middle East & North Africa 1 13% 1 13% 2 South Asia 0 0% 2 40% 0 MARKET SHARE FOR INITIATION OF REMITTANCE TRANSACTIONS OR DISBURSEMENT OF REMITTANCE TRANSACTIONS FIRST mmercial banks as agents Postal network Local MTOs Exchange bureaus of or in partnerships with MTOs % # % # % # % 11% 4 4% 4 4% 1 1% 3% 3 8% 0 0% 0 0% 15% 1 3% 4 12% 1 3% 15% 0 0% 0 0% 0 0% 25% 0 0% 0 0% 0 0% 18% 0 0% 1 6% 0 0% 10% 1 5% 2 10% 0 0% 25% 0 0% 0 0% 1 6% 3% 3 10% 0 0% 0 0% 0% 0 0% 1 10% 0 0% 13% 0 0% 0 0% 0 0% 20% 0 0% 0 0% 0 0% SECOND Commercial banks (via Local MTOs Exchange bureaus Postal network % # % # % # % 15% 10 9% 5 5% 4 4% 18% 5 13% 2 5% 4 10% 15% 4 12% 1 3% 0 0% 7% 1 4% 2 7% 0 0% 25% 0 0% 0 0% 0 0% 24% 0 0% 0 0% 1 6% 24% 0 0% 0 0% 0 0% 13% 2 13% 1 6% 0 0% 17% 5 17% 2 7% 3 10% 0% 2 20% 0 0% 0 0% 0% 0 0% 2 25% 0 0% 0% 1 20% 0 0% 0 0% THIRD Local MTOs International MTOs (e.g. Commercial banks as agents Mobile Network Operators or % # % # % # % 16% 14 13% 14 13% 6 6% 18% 5 13% 5 13% 0 0% 18% 3 9% 4 12% 1 3% 15% 5 19% 4 15% 2 7% 0% 1 13% 1 13% 3 38% 18% 3 18% 3 18% 0 0% 29% 1 5% 1 5% 1 5% 13% 2 13% 1 6% 3 19% 10% 4 13% 6 20% 0 0% 10% 1 10% 3 30% 1 10% 25% 1 13% 0 0% 1 13% 0% 2 40% 0 0% 0 0% TANCE TRANSACTIONS Financial cooperatives and Mobile Network Operators or MFIs credit unions other non-bank providers offering mobile money services # % # % # % 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% Mobile Network Operators or MFIs Financial cooperatives and # % # % # % 3 3% 3 3% 1 1% 0 0% 0 0% 0 0% 0 0% 1 3% 1 3% 3 11% 2 7% 0 0% 0 0% 0 0% 0 0% 0 0% 2 12% 0 0% 0 0% 0 0% 1 5% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 2 20% 1 10% 0 0% 0 0% 0 0% 0 0% 1 20% 0 0% 0 0% MFIs Exchange bureaus Financial cooperatives and # % # % # % 4 4% 3 3% 2 2% 1 3% 1 3% 0 0% 1 3% 1 3% 2 6% 2 7% 1 4% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 1 5% 2 10% 1 6% 0 0% 0 0% 1 3% 1 3% 0 0% 1 10% 0 0% 0 0% 0 0% 1 13% 0 0% 1 20% 0 0% 0 0% Table V.8a THREE MOST USED PAYMENT MECHANISMS AND INSTRUMENTS BY REMITTANCE S (BANK) ACCOUNT-TO-(BANK) ACCOUNT FUNDS TRANSFERS First Second Third # % # % # Global 28 28% 30 30% 17 High income 9 26% 10 29% 5 Upper middle income 7 23% 9 29% 6 Lower middle income 9 36% 8 32% 5 Low income 3 38% 3 38% 1 Europe & Central Asia 6 38% 4 25% 4 Latin America & Caribbean 3 15% 7 35% 4 Sub-Saharan Africa 7 47% 5 33% 1 High income OECD 6 22% 7 26% 4 East Asia & Pacific 3 33% 2 22% 1 Middle East & North Africa 1 14% 2 29% 3 South Asia 2 40% 3 60% 0 NTS BY REMITTANCE SENDERS/RECIPIENTS FOR SENDING AND/OR RECEIVING REMITTANCES TRANSFERS CASH ( VIA MTOs, BANKS OR OTHER REGULATED SERVICE PROVIDERS) Third First Second Third % # % # % # % 17% 49 49% 26 26% 7 7% 14% 16 46% 9 26% 1 3% 19% 17 55% 8 26% 3 10% 20% 13 52% 8 32% 2 8% 13% 3 38% 1 13% 1 13% 25% 10 63% 3 19% 2 13% 20% 13 65% 5 25% 0 0% 7% 5 33% 5 33% 2 13% 15% 11 41% 7 26% 1 4% 11% 3 33% 5 56% 1 11% 43% 5 71% 1 14% 0 0% 0% 2 40% 0 0% 1 20% CASH (VIA UNREGULATED SERVICE PROVIDERS OR FAMILY MEMBERS / FRIENDS) CHEQUE OR SIMILAR PAYM First Second Third First # % # % # % # 10 10% 15 15% 15 15% 3 4 11% 2 6% 3 9% 1 3 10% 6 19% 5 16% 2 3 12% 4 16% 4 16% 0 0 0% 3 38% 3 38% 0 0 0% 4 25% 3 19% 0 3 15% 4 20% 6 30% 0 0 0% 4 27% 3 20% 1 4 15% 1 4% 2 7% 1 2 22% 0 0% 1 11% 0 1 14% 1 14% 0 0% 0 0 0% 1 20% 0 0% 1 EQUE OR SIMILAR PAYMENT INSTRUMENT (E.G. BANK DRAFTS, MONEY ORDERS) MOBILE WALLET (FROM MOBIL First Third Second First % # % # % # % 3% 16 16% 9 9% 1 1% 3% 9 26% 6 17% 0 0% 6% 5 16% 2 6% 0 0% 0% 1 4% 1 4% 0 0% 0% 1 13% 0 0% 1 13% 0% 0 0% 2 13% 0 0% 0% 7 35% 1 5% 0 0% 7% 1 7% 0 0% 1 7% 4% 5 19% 4 15% 0 0% 0% 1 11% 0 0% 0 0% 0% 1 14% 1 14% 0 0% 20% 1 20% 1 20% 0 0% PAYMENT CARDS LINKED TO A CURRENT ACCOUNT IN T E WALLET (FROM MOBILE WALLET / TO MOBILE WALLET) WHICH ENABLE Second Third First Second # % # % # % # 1 1% 7 7% 1 1% 6 0 0% 0 0% 0 0% 2 0 0% 2 6% 0 0% 2 0 0% 3 12% 0 0% 2 1 13% 2 25% 1 13% 0 0 0% 0 0% 0 0% 2 0 0% 0 0% 0 0% 0 1 7% 3 20% 1 7% 0 0 0% 0 0% 0 0% 2 0 0% 3 33% 0 0% 1 0 0% 1 14% 0 0% 1 0 0% 0 0% 0 0% 0 CURRENT ACCOUNT IN THE SENDING COUNTRY BUT PREPAID CARDS (NOT LINKED TO A CURRENT ACCOUNT) THAT EN WHICH ENABLE RECIPIENT TO WITHDRAW CASH LOCALLY AT ATMS Second Third First Second % # % # % # % 6% 9 9% 0 0% 0 0% 6% 2 6% 0 0% 0 0% 6% 5 16% 0 0% 0 0% 8% 2 8% 0 0% 0 0% 0% 0 0% 0 0% 0 0% 13% 3 19% 0 0% 0 0% 0% 2 10% 0 0% 0 0% 0% 2 13% 0 0% 0 0% 7% 1 4% 0 0% 0 0% 11% 0 0% 0 0% 0 0% 14% 0 0% 0 0% 0 0% 0% 1 20% 0 0% 0 0% ENT ACCOUNT) THAT ENABLE THE SERVICES OFFERED THROUGH THE INTERNET SH LOCALLY AT ATMS Third First Second Third # % # % # % # 5 5% 2 2% 2 2% 7 2 6% 1 3% 1 3% 5 1 3% 1 3% 1 3% 0 2 8% 0 0% 0 0% 2 0 0% 0 0% 0 0% 0 0 0% 0 0% 0 0% 1 0 0% 0 0% 1 5% 0 0 0% 0 0% 0 0% 1 2 7% 1 4% 1 4% 5 1 11% 1 11% 0 0% 0 1 14% 0 0% 0 0% 0 1 20% 0 0% 0 0% 0 RNET Third % 7% 14% 0% 8% 0% 6% 0% 7% 19% 0% 0% 0% Table V.8b INDICATE THE THREE MOST USED PAYMENT MECHANISMS AND INSTRUMENTS BY Cash ( via MTOs, banks or (Bank) Account-to- Cash (via unregulated service other regulated service (bank)account funds providers or family members / providers) transfers friends) # % # % # Global 49 49% 28 28% 10 High income 16 46% 9 26% 4 Upper middle income 17 55% 7 23% 3 Lower middle income 13 52% 9 36% 3 Low income 3 38% 3 38% 0 Europe & Central Asia 10 63% 6 38% 0 Latin America & Caribbean 13 65% 3 15% 3 Sub-Saharan Africa 5 33% 7 47% 0 High income OECD 11 41% 6 22% 4 East Asia & Pacific 3 33% 3 33% 2 Middle East & North Africa 5 71% 1 14% 1 South Asia 2 40% 2 40% 0 (Bank) Account-to- Cash ( via MTOs, banks or Cash (via unregulated service (bank)account funds other regulated service providers or family members / transfers providers) friends) # % # % # Global 30 30% 26 26% 15 High income 10 29% 9 26% 2 Upper middle income 9 29% 8 26% 6 Lower middle income 8 32% 8 32% 4 Low income 3 38% 1 13% 3 Europe & Central Asia 4 25% 3 19% 4 Latin America & Caribbean 7 35% 5 25% 4 Sub-Saharan Africa 5 33% 5 33% 4 High income OECD 7 26% 7 26% 1 East Asia & Pacific 2 22% 5 56% 0 Middle East & North Africa 2 29% 1 14% 1 South Asia 3 60% 0 0% 1 (Bank) Account-to- Cheque or similar payment Cash (via unregulated service (bank)account funds instrument (e.g. bank drafts, providers or family members / transfers money orders) friends) # % # % # Global 17 17% 16 16% 15 High income 5 14% 9 26% 3 Upper middle income 6 19% 5 16% 5 Lower middle income 5 20% 1 4% 4 Low income 1 13% 1 13% 3 Europe & Central Asia 4 25% 0 0% 3 Latin America & Caribbean 4 20% 7 35% 6 Sub-Saharan Africa 1 7% 1 7% 3 High income OECD 4 15% 5 19% 2 East Asia & Pacific 1 11% 1 11% 1 Middle East & North Africa 3 43% 1 14% 0 South Asia 0 0% 1 20% 0 S AND INSTRUMENTS BY REMITTANCE SENDERS/RECIPIENTS FOR SENDING AND/OR RECEIVING REMITTANCES FIRST sh (via unregulated service Cheque or similar payment Services offered through the Payment cards linked to a viders or family members / instrument (e.g. bank drafts, Internet current account in the friends) money orders) sending country but which enable the recipient to withdraw cash locally at ATMs % # % # % # % 10% 3 3% 2 2% 1 1% 11% 1 3% 1 3% 0 0% 10% 2 6% 1 3% 0 0% 12% 0 0% 0 0% 0 0% 0% 0 0% 0 0% 1 13% 0% 0 0% 0 0% 0 0% 15% 0 0% 0 0% 0 0% 0% 1 7% 0 0% 1 7% 15% 1 4% 1 4% 0 0% 22% 0 0% 1 11% 0 0% 14% 0 0% 0 0% 0 0% 0% 1 20% 0 0% 0 0% SECOND sh (via unregulated service Cheque or similar payment Payment cards linked to a Services offered through the viders or family members / instrument (e.g. bank drafts, current account in the Internet friends) money orders) sending country but which enable the recipient to withdraw cash locally at ATMs % # % # % # % 15% 9 9% 6 6% 2 2% 6% 6 17% 2 6% 1 3% 19% 2 6% 2 6% 1 3% 16% 1 4% 2 8% 0 0% 38% 0 0% 0 0% 0 0% 25% 2 13% 2 13% 0 0% 20% 1 5% 0 0% 1 5% 27% 0 0% 0 0% 0 0% 4% 4 15% 2 7% 1 4% 0% 0 0% 1 11% 0 0% 14% 1 14% 1 14% 0 0% 20% 1 20% 0 0% 0 0% THIRD sh (via unregulated service Payment cards linked to a Cash ( via MTOs, banks or Mobile wallet (from mobile viders or family members / current account in the other regulated service wallet / to mobile wallet) friends) sending country but which providers) enable the recipient to withdraw cash locally at ATMs % # % # % # % 15% 9 9% 7 7% 7 7% 9% 2 6% 1 3% 0 0% 16% 5 16% 3 10% 2 6% 16% 2 8% 2 8% 3 12% 38% 0 0% 1 13% 2 25% 19% 3 19% 2 13% 0 0% 30% 2 10% 0 0% 0 0% 20% 2 13% 2 13% 3 20% 7% 1 4% 1 4% 0 0% 11% 0 0% 1 11% 3 33% 0% 0 0% 0 0% 1 14% 0% 1 20% 1 20% 0 0% REMITTANCES Mobile wallet (from mobile Prepaid cards (not linked to a wallet / to mobile wallet) current account) that enable the recipient to withdraw cash locally at ATMs # % # % 1 1% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 1 13% 0 0% 0 0% 0 0% 0 0% 0 0% 1 7% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% Mobile wallet (from mobile Prepaid cards (not linked to a wallet / to mobile wallet) current account) that enable the recipient to withdraw cash locally at ATMs # % # % 1 1% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 1 13% 0 0% 0 0% 0 0% 0 0% 0 0% 1 7% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% Services offered through the Prepaid cards (not linked to a Internet current account) that enable the recipient to withdraw cash locally at ATMs # % # % 7 7% 5 5% 5 14% 2 6% 0 0% 1 3% 2 8% 2 8% 0 0% 0 0% 1 6% 0 0% 0 0% 0 0% 1 7% 0 0% 5 19% 2 7% 0 0% 1 11% 0 0% 1 14% 0 0% 1 20% Table V.9 FULFILLMENT OF TRANSPARENCY REQUIREMENTS IN REMITTANCE SERVICES RSPs are required by RSPs are required by RSPs are required by laws/regulations to provide laws/regulations to disclose laws/regulations to disclose customers with receipt fees applied FX rate applied containing the details of the transaction # % # % # Global 85 89% 88 89% 84 High income 26 81% 32 89% 29 Upper middle income 27 90% 25 83% 24 Lower middle income 24 96% 23 92% 23 Low income 8 100% 8 100% 8 Europe & Central Asia 16 100% 16 100% 15 Latin America & Caribbean 14 78% 12 67% 11 Sub-Saharan Africa 16 100% 15 94% 15 High income OECD 22 85% 28 93% 25 East Asia & Pacific 6 86% 7 100% 7 Middle East & North Africa 7 100% 7 100% 7 South Asia 4 80% 3 60% 4 MITTANCE SERVICES RSPs are required by RSPs are required by RSPs are required by RSPs are required by ws/regulations to disclose laws/regulations to inform laws/regulations to disclose laws/regulations to disclose FX rate applied customers on the details of available complaint taxes applied the transaction before they mechanisms perform it % # % # % # % 87% 77 82% 73 78% 64 69% 85% 26 79% 24 73% 24 73% 80% 25 83% 20 69% 18 62% 92% 19 83% 22 92% 16 70% 100% 7 88% 7 88% 6 75% 94% 15 94% 14 93% 9 60% 61% 9 53% 7 41% 8 50% 94% 14 93% 14 88% 9 56% 89% 23 85% 21 78% 22 81% 100% 6 86% 6 86% 5 71% 100% 6 86% 7 100% 7 100% 80% 4 80% 4 80% 4 80% RSPs are required by RSPs are subject to different A standard format for receipts A national remittance prices laws/regulations to disclose legal requirements as to fees is used database is available on the speed of the transfer disclosed, depending on the internet destination country # % # % # % # 56 60% 34 36% 32 35% 12 23 68% 8 23% 4 13% 4 16 57% 11 41% 14 52% 5 13 54% 9 38% 10 42% 2 4 50% 6 75% 4 50% 1 12 80% 7 50% 7 47% 3 5 31% 5 28% 8 47% 2 6 38% 4 27% 8 53% 1 20 71% 7 25% 2 8% 4 5 71% 5 71% 1 14% 0 6 86% 4 57% 4 67% 2 2 40% 2 40% 2 40% 0 national remittance prices atabase is available on the internet % 13% 13% 18% 9% 14% 19% 13% 6% 16% 0% 33% 0% Table V.10 COMPETITION ENVIRONMENT RSPs have to meet stipulated Agents are allowed to collect Agents are allowed to minimum capital funds and initiate a disburse funds in foreign requirements remittance transaction in currency foreign currency # % # % # Global 71 76% 60 67% 56 High income 26 76% 26 79% 26 Upper middle income 22 79% 17 71% 15 Lower middle income 17 68% 11 46% 10 Low income 6 86% 6 75% 5 Europe & Central Asia 12 80% 12 80% 13 Latin America & Caribbean 12 71% 11 69% 8 Sub-Saharan Africa 13 81% 6 40% 5 High income OECD 20 77% 21 88% 21 East Asia & Pacific 5 56% 6 75% 3 Middle East & North Africa 5 83% 3 50% 5 South Asia 4 80% 1 20% 1 Agents are allowed to Legislation exists to address Non-bank RSPs have to Exclusivity agreements disburse funds in foreign other types of anti- partner with a commercial currency competitive or monopolistic bank to offer remittance behaviors services % # % # % # % 60% 51 56% 32 34% 24 26% 76% 21 62% 7 21% 5 16% 54% 15 56% 9 32% 12 44% 43% 10 45% 11 46% 4 16% 63% 5 63% 5 63% 3 38% 87% 10 77% 7 47% 4 29% 44% 4 24% 5 29% 6 33% 33% 10 63% 7 44% 5 31% 84% 19 73% 3 12% 5 23% 38% 4 50% 3 33% 3 38% 71% 3 50% 3 50% 0 0% 20% 1 20% 4 80% 1 20% Legislation/regulation exists that specifically bans exclusivity agreements in the international remittance market # % 22 24% 4 13% 7 26% 8 35% 3 38% 5 36% 3 17% 5 36% 3 13% 1 13% 4 57% 1 20%