International money transfers: who will beat the competition?

New fintech startups as TFW or WR and recent interest of banks are deeply transforming the whole international money transfers market. So, who will beat the competition? Let’s read guys!


The new money transfer operators with innovative models less expensive, making partnerships with banks to scale their business, is completely renewing the international money transfers market. According to the worldwide bank, 500+ companies (including banks) are fighting for the cake. Moneytis, a french money transfer comparison service, counts 200+ companies, excluding banks and non-licensed actors.

Of course, the market is very attractive: more than 5% of growth rate each year! “It is 500 billion EUR each year, and could reach 1’000 billion in the next ten years, says Christophe from the french startup. The market is growing because there is more and more expatriates, digital nomads, students abroad and migrants in the world”.

TFW represents the most impressive success in the fintech industry. The british startup just made public its volume of transactions: 1,07 billion of dollars each month, +50% each last 6 months, for 600 000 transactions. Its business model is very new compared to its competitors. TFW applies really weak fees, actually, compared to banks, WU and others.

Christophe analyzes: “If someone wants to send money to UK, TFW waits for someone who wants to make a money transfer in the other way. So the money never moves. So no fees.”


The market is very competitive, TFW had to invest a lot to get new customers. “We are talking about more than 50€ for each new customer. Keywords about money transfers are very expensive, you know”.


TFW creates a lot of trust, which help it to get new customers. The user experience is very friendly and easy.


Other startups also try to take a piece of cake, as Wordlremit.


To face those new models, WU, who stays the most visible actor and the most famous, does another bet. Very expensive for small amounts, the company targets migrants, on the contrary to WR or TFW.


Traditional banks are late but their strength help them to stay active. They can spend a lot, and the new market need education to make people know about it.


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