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1. UAE Remittance and Bill Payments Market
Report – 2021: Ken Research

2. UAE Remittance and Bill Payments Market Outlook to 2021 – Rising
Expatriate Population, Growing Business Activities and Increasing
Demand for Utilities to Foster Growth” which provides a comprehensive
analysis of remittance and bill payments market in UAE. The report covers
market size, segmentation on the basis of remittance channel, mode of
transfer, type of service and remittance corridor for international
remittance market. For domestic remittance market, it covers market size,
segmentation on the basis of remittance channel and type of services. It
also includes the bill payments market in the country covering the market
size and segmentation by type of bills. The report also covers government
regulations in the market, competitive landscape and company profiles for
major players in the remittance and bill payments market. The report
provides detailed overview on future outlook & projections with analyst
recommendations for the industry.

3. The report facilitate the readers with an identification and in-depth
analysis of the existing and future trends, issues and challenges prevalent
in the industry and anticipated growth in the future depending upon
changing industry dynamics in coming years. The report is useful for
exchange houses, banks, bill payment portals and other stakeholders to
align their market centric strategies according to ongoing and expected
trends in the future.
Industry Overview
UAE Remittance market is led by the international remittances and
domestic remittances which are represented by the workers remittance
outflow, the domestic business to business and personal remittances.
During 2011-2016, the international and domestic remittance markets
have showcased a remarkable growth at a CAGR of ~%.

4. Market growth can be attributed to factors such as increasing number of
expatriates, growing infrastructure and developmental activities, rising
business sectors and others related factors. Similarly, there had been a
decent growth in the UAE bill payments market displaying a CAGR of ~%
during 2011-2016. The amplification exhibited by the market should be
owed to rising utility bills due to the rising consumption of energy, water,
mobile phones and other utilities.
Market Segmentation of UAE Remittance and Bill Payments Market
International Remittance Market
International remittance market in UAE is segmented on the basis of
remittance channel, mode of transfer, remittance corridors and type of
services.
In terms of workers remittance outflow, the market is dominated by
exchange houses that account for a share of ~% in 2016 followed by
banks.

5. Electronic mode of transfer dominated the market with a share of
~% in 2016 in the workers remittance outflow. It is followed by cash
account and money order.
UAE-India represents the major international remittance corridor
followed by US, Pakistan, Philippines, UK, Egypt, Bangladesh,
Jordan and others.
During 2016, direct credit to bank account and online services
dominated the market with a share of ~% in terms of workers
remittance outflow followed by cash pick up and prepaid card
services.
Domestic Remittance and Bill Payments Market
Domestic remittance market in UAE is segmented on the basis of
remittance channel and type of service in terms of transaction volume.
As of 2016, the market is dominated by banks with a share of ~% followed
by the non-banking transfer agents.

6. Direct credit to account and online services are majorly used
across the country. It accounts for a share of ~% in the market in
2016 followed by cash pick up and prepaid cards.
Bill payments market is dominated by the electricity bills that held a
share of ~% in 2016 followed by water, mobile, broadband and
DTH bills.
Competitive Landscape
International remittance market is a highly competitive market. In UAE
international remittances are carried out through exchange houses and
banks. Exchange houses have the major share in the transfer. There are
more than ~ licensed exchange houses with more than ~ branches in the
country. There are three major exchange houses that hold more than ~%
share in the market.

7. These exchange houses are competing on the basis of number of
transactions, volume of transaction, number of branches, services offered
and others. The major exchange houses in the country include UAE
Exchange, Al Ansari Exchange, Al Fardan Exchange, Sharaf Exchange and
others.
Future Potential
The UAE remittance and bill payments market has witnessed a considerable
growth in past five years and the market is anticipated to grow at a CAGR of
~% during the forecast period, 2017-2021. Amplification of the market can
be owed to the factors such as rising employment opportunities owing to
the infrastructure developmental activities linked to the World Expo 2020 in
Dubai, expansion of airports, the Etihad rail, air and marine transport
systems and road networks in the country. Rising number of expatriates,
internal migration, growing non-oil private sector businesses, rising utility
prices and other related factors are set to augment growth in the market
during the forecast period.

8. For More details Visit:https://www.kenresearch.com/banking-financial-
services-and-insurance/financial-services/uae-remittance-bill-payment-
market/110397-93.html
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9. Contact Us:
Ken Research
Ankur Gupta, Head
Marketing &
Communications
Ankur@kenresearch.com
+91-9015378249