In this article we are going to list the 5 biggest money transfer companies in the world. For a detailed coverage of this topic and a more comprehensive list please take a look at the 15 biggest money transfer companies in the world.
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5. Stripe
Total revenue of the company in 2019 (in millions of dollars): 450
Total employees of the company in 2019: 2,500
Stripe is a technology company used by business of all sizes. From startups to public companies, all use Stripe software to accept payments and manage their online businesses. Considered as a direct competitor to PayPal, Stripe is becoming increasingly popular with e-commerce websites as a method of online payment.
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4. MoneyGram (NASDAQ: MGI)
Total revenue of the company in 2019 (in millions of dollars): 1,200
Total employees of the company in 2019: 2,200
An international household name, MoneyGram is globally recognized as a cross-border peer to peer payments and money transfer company. Available in 200 countries and territories, of which 70 countries are digitally enabled, MoneyGram claims to enable families to send money quickly and affordably.
2024 UPDATE: Transferwise changed its name to Wise Plc and generated a total of $1.275 billion in revenue in 2023. This would potentially make Wise one of the 5 biggest money transfer companies in the world.
3. Euronet (NASDAQ:EEFT)
Total revenue of the company in 2019 (in millions of dollars): 2,750.1
Total profits of the company in 2019 (in millions of dollars): 346.7
Total assets of the company in 2019 (in millions of dollars): 4,657.7
Total employees of the company in 2019: 7,700
An industry leader, Euronet provides its financial transaction processing services in approximately 170 countries. The company is based in Leawood, Kansas and offers a number of services, including ATMs, credit/debit services, currency exchange, and other electronic payment services.
Pixabay/Public Domain
2. Western Union (NYSE:WU)
Total revenue of the company in 2019 (in millions of dollars): 5,292.1
Total profits of the company in 2019 (in millions of dollars): 1,058.3
Total assets of the company in 2019 (in millions of dollars): 8,758.5
Total employees of the company in 2019: 11,500
One of the most recognizable money movement and payment services companies in the world, Western Union is a multi-currency, real time money transfer service provider. Western Union makes it possible to move money across worldwide borders for families, businesses, and communities. It is a wire transfer service where transfers of money between bank accounts are often less expensive than sending money for cash pickup. The company is based in Denve, Colarado.
Pixabay/ Public Domain
1. PayPal (NASDAQ:PYPL)
Total revenue of the company in 2019 (in millions of dollars): 17,772
Total profits of the company in 2019 (in millions of dollars): 2,459
Total assets of the company in 2019 (in millions of dollars): 51,333
Total employees of the company in 2019: 23,200
Topping the list of 15 biggest money transfer companies in the world is PayPal, an electronic commerce company that facilitates payments through online transfers. PayPal owns both Venmo and Xoom, which are mobile payment services where account holders transfer funds using the dedicated apps on their phones. PayPal allows this through establishing accounts for each customer on the platform. This account is connected to the particular user’s credit card or checking account. The company is located in San Jose, California and was founded in 1998. The service allows anyone to pay in any of a number of ways, including credit cards, bank accounts, Smart Connect, or PayPal itself without sharing any financial information.
See also: 20 largest insurance companies in the US and 15 largest insurance companies in the world
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