The U.S. Check Cashing, Money Transfer, and Payday Loan Industry

The U.S. Check Cashing, Money Transfer, and Payday Loan Industry

The U.S. Check Cashing, Money Transfer, and Payday Loan Industry

This updated analysis by Marketdata examines a little-researched service sector — the $6.56 billion loosely regulated check cashing, payday credit, and money convey services (serving 35% of the US population). Many companies are contented to acknowledge the enterprise of consumers with spotty character records who give birth to been rejected by traditional banks, or the "unbanked" with the intention of decide not to care for glance accounts. .

Explosive growth has taken place in the babyish payday advance thing, which has roll up under profound inquiry. Wearing addition, many workers in southern California, Texas and other areas wire an estimated $10-12 billion to relatives on birthplace, contributing to a active thing growing 15-20% for every day. There are 13,000 check cashing outlets, 14,000 pawn shops, 10,000 payday lend supplies and 154,000+ money move agents competing in support of this thing in the present day. Many stores/services overlap—providing multiple services on the same locate.

This unique another study by Marketdata examines the nature of the thing, general receipts/growth from 1987 to 2005 forecast, arithmetic mean stock up 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.

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