Market Research Report
U.S. Check Cashing & Money Transfer Services: A Market Analysis
|Published by||Marketdata LLC||Product code||69013|
|Published||Content info||145 Pages
Delivery time: 1-2 business days
|U.S. Check Cashing & Money Transfer Services: A Market Analysis|
|Published: June 1, 2013||Content info: 145 Pages||
This publication has been discontinued on January 9, 2019.
Print or digital format. Also sold by individual chapters.
This updated analysis by Marketdata Enterprises examines the controversial but growing “alternative financial services” sector - a $34 billion business comprised of fragmented and loosely regulated check cashing and money transfer services. Payday loan stores and pawn shops are also considered. These outlets serve 35% of the U.S. population. Many companies are happy to accept the business of consumers with spotty credit records who have been rejected by banks--the 12 million “unbanked” households that choose not to use traditional banks.
There are 11,800 check cashing outlets, and nearly 1 million money transfer agents competing for this business today. Many outlets/services overlap-providing multiple services at the same site. The study explores why check cashers have had to diversify, and the effects of the economic slowdown, competition, and new technologies.
This new study by Marketdata examines the nature of the business, reasons for the growth of non-bank services, immigration trends, industry receipts/growth from 1999-2012, 2013 to 2017 forecasts, average store revenues, extensive customer demographics, key industry trends, federal/state industry regulation/fee caps, self-service check cashing machines, profit margins, franchising, gold buying/selling, global remittance trends, consumer debt levels, reasons for the industry's improved image, and more. Findings of research studies by: Fannie Mae, Georgetown University, FISCA, Federal Reserve Board, brokerage analysts, Natl. Check Casher's Assn., state banking departments, The World Bank, INS, U.S. Census Bureau, FDIC, brokerage firms, and more.
This study is believed to be one of the few in-depth publicly available business analyses that exists of this market. Seven in-depth company profiles (some with 2008-2012 financials) are provided for: ACE Cash Express, Check Into Cash, DFC Global, Western Union, Moneygram, Ria Financial, Check Into Cash, and AMSCOT Finacial.
(headquarters location, services, detailed financials, mergers, history and company profile)
(headquarters location, services, company history, recent developments, financials).
Address, phone, contacts for major trade groups, consultants, list of industry studies and articles, Wall Street analysts/research reports.