U.S. Check Cashing, Money Transfer, Payday Loan Services, and Pawnshops: A Market Analysis

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This updated analysis by Marketdata examines a little-researched service sector — the $6.56 billion loosely regulated check cashing, payday loan, and money transfer services (serving 35% of the US population). Many companies are happy to accept the business of consumers with spotty credit records who have been rejected by traditional banks, or the “unbanked” that choose not to maintain checking accounts. Explosive growth has taken place in the young payday advance business, which has come under heavy scrutiny. In addition, many workers in southern California, Texas and other areas wire an estimated $10-12 billion to relatives at home, contributing to a booming business growing 15-20% per year. There are 13,000 check cashing outlets, 14,000 pawn shops, 10,000 payday loan stores and 154,000+ money transfer agents competing for this business today. Many stores/services overlap—providing multiple services at the same site. This unique new study by Marketdata examines the nature of the business, national receipts/growth from 1987 to 2005 forecast, average store revenues/expenses, customer demographics, key industry trends, industry regulation/fee caps, self-service ATM check cashing machines, profit margins, reasons for the industry’s negative image, and more. Findings of 2000-2001 research studies by the Fannie Mae Foundation, PriceWaterhouseCoopers, Georgetown University and others are analyzed, as well as interviews with consultants/experts, and with FISCA and the CFSA, the industry’s leading trade groups. This 110 page study is believed to be one of the few in-depth publicly available business analyses that exists of this market. Company profiles are provided for: ACE Cash Express, Dollar Financial, First Data, Viad, Advance America, Check ‘n Go, Moneytree, Check Into Cash, Innoventry, Wells Fargo, Banco Popular, First Cash Financial, and more.   

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U.S. Check Cashing, Money Transfer, Payday Loan Services, and Pawnshops: A Market Analysis

  1. 1. Find Industry reports, Company profilesReportLinker and Market Statistics >> Get this Report Now by email!U.S. Check Cashing, Money Transfer, Payday Loan Services, andPawnshops: A Market AnalysisPublished on June 2005 Report SummaryThis updated analysis by Marketdata examines a little-researched service sector — the $6.56 billion loosely regulated checkcashing, payday loan, and money transfer services (serving 35% of the US population). Many companies are happy to accept thebusiness of consumers with spotty credit records who have been rejected by traditional banks, or the “unbanked” thatchoose not to maintain checking accounts. Explosive growth has taken place in the young payday advance business, which has comeunder heavy scrutiny. In addition, many workers in southern California, Texas and other areas wire an estimated $10-12 billion torelatives at home, contributing to a booming business growing 15-20% per year. There are 13,000 check cashing outlets, 14,000pawn shops, 10,000 payday loan stores and 154,000+ money transfer agents competing for this business today. Manystores/services overlap—providing multiple services at the same site.This unique new study by Marketdata examines the nature of the business, national receipts/growth from 1987 to 2005 forecast,average store revenues/expenses, customer demographics, key industry trends, industry regulation/fee caps, self-service ATM checkcashing machines, profit margins, reasons for the industry’s negative image, and more. Findings of 2000-2001 researchstudies by the Fannie Mae Foundation, PriceWaterhouseCoopers, Georgetown University and others are analyzed, as well asinterviews with consultants/experts, and with FISCA and the CFSA, the industry’s leading trade groups.This 110 page study is believed to be one of the few in-depth publicly available business analyses that exists of this market. Companyprofiles are provided for: ACE Cash Express, Dollar Financial, First Data, Viad, Advance America, Check ‘n Go, Moneytree,Check Into Cash, Innoventry, Wells Fargo, Banco Popular, First Cash Financial, and more. Table of ContentIntroduction: Study Scope, Sources, MethodologyExecutive Summary - Nature & Definition of the IndustryThe U.S. Check Cashing IndustrySummary & Nature of the Business: How Check Cashing Companies OperateIndustry History and EvolutionCustomerDemographicsEmerging Industry TrendsIndustry RegulationIndustry Size, Growth, ForecastsMarket Segments andNichesFranchisingMajor CompetitorsThe U.S. Money Transfer Services IndustryNature of the BusinessIndustry TrendsRegulation of the IndustryIndustry Size, Growth, ForecastsMajor CompetitorsThe U.S. Pawnshop IndustryNature of the BusinessEmerging Industry TrendsPawnshop Customer DemographicsRegulation of the IndustryIndustry Size, Growth,U.S. Check Cashing, Money Transfer, Payday Loan Services, and Pawnshops: A Market Analysis (From Slideshare) Page 1/4
  2. 2. Find Industry reports, Company profilesReportLinker and Market Statistics >> Get this Report Now by email!ForecastsMajor CompetitorsThe Payday Advance IndustryNature of The BusinessEmerging Industry TrendsEnd-User Demographics - Who is the Payday Advance CustomerRegulation of theIndustryIndustry Size, Growth, ForecastsPayday Loan Industry Financials & Profit MarginsMajor CompetitorsReference Directory of Trade Associations & SourcesBuy by the Section Executive Summary Nature of The Industry (pp. 12 - 24)$263.00 The US Check Cashing Industry (pp. 24 - 49)$525.00 The US Money Transfer Industry (pp. 49 - 65)$375.00 The US Pawnshop Industry (pp. 65 - 80)$443.00 The US Payday Loan Industry (pp. 80 - 113)$525.00U.S. Check Cashing, Money Transfer, Payday Loan Services, and Pawnshops: A Market Analysis (From Slideshare) Page 2/4
  3. 3. Find Industry reports, Company profilesReportLinker and Market Statistics >> Get this Report Now by email! Fax Order Form To place an order via fax simply print this form, fill in the information below and fax the completed form to: Europe, Middle East and Africa : + 33 4 37 37 15 56 Asia, Oceania and America : + 1 (805) 617 17 93 If you have any questions please visit http://www.reportlinker.com/notify/contact Order Information Please verify that the product information is correct and select the format(s) you require. U.S. Check Cashing, Money Transfer, Payday Loan Services, and Pawnshops: A Market Analysis Product Formats Please select the product formats and the quantity you require. Hard Copy--USD 1 395.00 Quantity: _____ Contact Information Please enter all the information below in BLOCK CAPITALS Title: Mr Mrs Dr Miss Ms Prof First Name: _____________________________ Last Name: __________________________________ Email Address: __________________________________________________________________________ Job Title: __________________________________________________________________________ Organization: __________________________________________________________________________ Address: __________________________________________________________________________ City: __________________________________________________________________________ Postal / Zip Code: __________________________________________________________________________ Country: __________________________________________________________________________ Phone Number: __________________________________________________________________________ Fax Number: __________________________________________________________________________U.S. Check Cashing, Money Transfer, Payday Loan Services, and Pawnshops: A Market Analysis (From Slideshare) Page 3/4
  4. 4. Find Industry reports, Company profilesReportLinker and Market Statistics >> Get this Report Now by email! Payment Information Please indicate the payment method, you would like to use by selecting the appropriate box. Payment by credit card Card Number: ______________________________________________ Expiry Date __________ / _________ CVV Number _____________________ Card Type (ex: Visa, Amex…) _________________________________ Payment by wire transfer Crédit Mutuel RIB : 10278 07314 00020257701 89 BIC : CMCIFR2A IBAN : FR76 1027 8073 1400 0202 5770 189 Payment by check UBIQUICK SAS 16 rue Grenette – 69002 LYON, FRANCE Customer signature:   Please note that by ordering from Reportlinker you are agreeing to our Terms and Conditions at http://www.reportlinker.com/index/terms Please fax this form to: Europe, Middle East and Africa : + 33 4 37 37 15 56 Asia, Oceania and America : + 1 (805) 617 17 93U.S. Check Cashing, Money Transfer, Payday Loan Services, and Pawnshops: A Market Analysis (From Slideshare) Page 4/4

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