The numbers from Google Trends below show how various companies focusing on international remittances stack up against TransferWise. TransferWise is the flat line, and the other companies' numbers are in relation to TransferWise's. Companies with a large offline foot print such as Western Union and Moneygram are in the lead world wide. Xoom, a remittance company acquired by PayPal in 2015, also do well.
If we zoom in on the UK, the story changes. While Western Union is still the most Googled brand in the remittance industry, the lead shrinks from 13X to 2.2X over TransferWise. Over time, the declining share of search volume of Western Union becomes quite clear. This might explain part of the reason that they are so eager to build their own online currency transfer platform.
World Wide
TransferWise is flat line.
Companies
|
Search interest relative to TransferWise
|
western union
|
13.00
|
moneygram
|
4.14
|
xoom
|
1.38
|
transferwise
|
1.00
|
post office money
|
0.47
|
worldremit
|
0.39
|
ria money transfer
|
0.24
|
azimo
|
0.20
|
transfast
|
0.17
|
moneycorp
|
0.17
|
caxton fx
|
0.14
|
fairfx
|
0.14
|
remitly
|
0.12
|
currencyfair
|
0.09
|
hifx
|
0.08
|
transfergo
|
0.06
|
worldfirst
|
0.02
|
ukforex
|
0.01
|
tawipay
|
0.00
|
United Kingdom
Companies
|
Search interest relative to TransferWise
|
western union
|
2.19
|
transferwise
|
1.00
|
post office
money
|
0.83
|
moneygram
|
0.58
|
moneycorp
|
0.41
|
fairfx
|
0.33
|
caxton fx
|
0.28
|
azimo
|
0.22
|
worldremit
|
0.22
|
transfergo
|
0.13
|
hifx
|
0.09
|
currencyfair
|
0.06
|
xoom
|
0.06
|
ria money
transfer
|
0.05
|
ukforex
|
0.04
|
worldfirst
|
0.04
|
transfast
|
0.02
|
remitly
|
0.00
|
tawipay
|
0.00
|
If we look at the market over a longer period of time, the decline of Western Union's share of search volume becomes clear.
