Fintech Marketing: How to Stand Out in International Money Transfers

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Digital money transfer refers to electronic money transfers carried out through online platforms, mobile applications and other digital channels, especially targeting the migrant population. These services offer a faster, more cost-effective and secure alternative to traditional methods. Especially during the COVID-19 pandemic, in countries where traditional physical remittance channels have been disrupted, people have started to rely more on digital channels to send money to their families.

The popularity of digital money transfer is belarus phone number data supported by factors such as the increasing adoption of smartphones and internet connectivity, the increasing demand for fast, secure and cost-effective cross-border payment solutions and the increasing number of migrant workers around the world. In addition, the implementation of government regulations to encourage digital payments also supports the growth of the online money transfer sector. All these processes have caused the sector to grow very competitively.

However, in order to stand out from the many players in the market, it is critical for fintech companies to differentiate themselves and stand out. In this article, we wanted to share with you the strategies that will help your fintech brand stand out in international money transfers.

1. UNDERSTANDING THE TARGET AUDIENCE
Demographic Information: It is important to know the age, gender, location and income information of your potential customers. Because the tendency to use money transfer services may differ among individuals with certain demographic characteristics. For example, young professionals and international students between the ages of 20-30, as well as migrant workers between the ages of 40-50, may be among the active users of these services. Geographically, cities and countries with a high immigrant population may be regions where digital money transfer services are used intensively. Income level is also a factor that affects user preferences; low-income individuals generally look for more economical transfer options, while high-income individuals may prefer fast or premium services.

Psychographics: You need to understand your potential customers’ needs, problems, and motivations for sending money internationally so that you can offer them the right solutions. For example, a migrant worker may need to send money to their family on a regular basis. Or, issues with traditional bank transfers, such as high fees or long transfer times, may drive people to fintech companies. Understanding motivations such as faster transfer times, lower fees, or more secure transactions can help you determine how to optimize your service.

Behavioral Insights: You should track how users interact with you, their transaction frequency, and preferred payment methods. For example, knowing how many times users transfer money per month can help you create special promotions or loyalty programs. Or do the majority of users pay by credit card, bank transfer, or mobile wallet? This information will also help you determine which payment methods you should focus on.