Paysilvania is a Romanian company that intends to launch a new online remittance service in Romania.
In this context, in order to better understand the specifics of the personal money transfer market in general and the remittance market in particular, Paysilvania commissioned MKOR to conduct a market study to understand consumer habits and perceptions regarding personal transfers of money, as well as to identify the main competitors, key success factors and barriers for a new remittance app.
For this project, we carried out a quantitative study on the MKOR panel of respondents, using the online questionnaire as data collection tool.
Characteristics of the personal money transfer market in Romania
The quantitative research highlighted for our client the level of adoption of personal money transfer services in Romania, as well as the environment preferred by Romanians for carrying out these transactions.
In order to provide the client with an in-depth understanding of the target market, we have identified the main players in the study, along with their market shares, as well as the level of consumer satisfaction.
We also identified the potential of the personal money transfer market for a new player.
Research objectives
The main objectives of the study were:
- Identifying the habits and attitudes of personal money transfer services users
- Identifying the means used for money transfer
- Identifying the most accessed remittance services
- Establishing the remittance services market characteristics
- User profile tracing
- Benchmarking competitors
About research
This study involved primary research, collecting data directly from the source through online opinion survey.
- Target market: the personal money transfer market
- Type of research: quantitative
- Research Tool: Online Opinion Survey (CAWI)
- Target audience: N=400, nationally representative by gender, age (18-55 years) and geographical distribution (development regions)
About Paysilvania
Paysilvania is a Romanian company operating on the money transfer market. The company offers services to end consumers in the country, as well as to companies operating locally.
Contact us for your project
At MKOR, any study is a new challenge that we approach with passion and professionalism because we know that data is a resource you can always rely on.
We collect valuable information directly from the source (consumers, competitors) and turn it into actionable recommendations for our partners.
Tell us if we can help you too! We, the MKOR team of consultants, assure you that:
- We will choose the right methodology to achieve your goals, taking into account the macroeconomic and social context.
- We will carry out the project at a high level of quality.
- The results you will receive in the end will exceed your expectations.
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