NEW YORK – The number of check cashing outlets doubled in the past five years in the U.S., according to Marketdata Enterprises, a market research firm. The firm reports that check-cashing outlets, money transfer services, payday loan providers and other industries aimed at the unbanked grew to almost $6.6 billion in 2001. Marketdata reported that they are projected to increase 10% in 2002 to 7.3 billion. Money transfer services are the largest and fastest growing segment of this industry with growth hitting 13.4% per year, the firm reported.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.