Fintech PR
Check Cashing Services Market to Reach $ 65.8 Billion, Globally, by 2032 at 9.4% CAGR: Allied Market Research

Surge in the adoption of digital technologies, increase in focus on regulatory compliance, and high speed of transactions contribute toward the growth of the market
PORTLAND, Ore., Dec. 13, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Check Cashing Services Market by Service Provider (Banks, Credit Unions, and Others), Type (Pre-Printed Checks, Payroll Checks, Government Checks, Tax Checks, and Others), and End User (Commercial, and Personal): Global Opportunity Analysis and Industry Forecast, 2022-2032″. According to the report, the global check cashing services industry generated $ 27.5 billion in 2022 and is anticipated to generate $ 65.8 billion by 2032, witnessing a CAGR of 9.4 % from 2023 to 2032.
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• 123 – Tables
• 62 – Charts
• 377 – Pages
Prime determinants of growth
Surge in the use of alternative financial services and growth in the shift of the population from banks to the non-bank sector are becoming the major factors driving the growth of the market. However, the increase in the adoption of digital payment systems and electronic transactions has reduced paper check usage and, consequently, the demand for check cashing services, which hampers the market growth. Contrarily, the launch of new and advanced software for cashing systems is estimated to provide huge opportunities in the market over the forecast period.
Report coverage & details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2022 |
Market Size in 2022 |
$ 27.5 billion |
Market Size in 2032 |
$ 65.8 billion |
CAGR |
9.4 % |
No. of Pages in Report |
377 |
Segments covered |
Service Provider, Type, End User, and Region. |
Drivers |
Surge in adoption of digital technologies Increase in focus on regulatory compliance High speed of transactions |
Opportunities |
Continuous improvements in KYC policy Increased collaboration of key players with banks |
Restraints |
High cost of fees and fraud concerns |
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The banks segment to maintain its leadership status throughout the forecast period
Based on service provider, the banks segment held the highest market share in 2022, accounting for nearly two-thirds of the global check cashing services market revenue. This is because banks are increasingly incorporating community engagement and social responsibility into their check cashing services. This involves actively participating in community outreach programs, supporting local initiatives, and demonstrating a commitment to addressing the financial needs of underserved communities. However, the others segment is projected to manifest the highest CAGR of 11.8% from 2023 to 2032. This is because financial institutions are exploring partnerships with FinTech companies to enhance the efficiency and security of their check cashing services.
The commercial segment to maintain its leadership status throughout the forecast period
Based on end user, the commercial segment held the highest market share in 2022, accounting for more than two-thirds of the global check cashing services market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is owing to check cashing services providing businesses with flexibility in handling different types of checks, including payroll checks, business checks, and customer payments. This flexibility allows businesses to choose a convenient and efficient method for converting checks into cash. However, the personal segment is projected to manifest the highest CAGR of 11.3% from 2023 to 2032. This is because check cashing services are integrated with prepaid card services. This trend allows personal end users to load funds onto prepaid cards, providing them with an additional financial tool for managing their money securely.
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North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the check cashing services market revenue, owing to the presence of leading market players and increase in the adoption of alternative financial services. However, the Asia-Pacific region is expected to witness the fastest CAGR of 12.3% from 2023 to 2032, and is expected to dominate the market during the forecast period. This is due to the economic growth and urbanization in many Asia-Pacific countries contributing to the expansion of the check cashing services industry.
Leading Market Players: –
- Anfield Cheque Cashing Centre
- Encore Capital Group
- PHH Mortgage Corporation
- Oaktree Capital Group, LLC
- Ocwen Financial Corporation
- QCHI
- Currency Exchange International Corp
- Navient Corporation
- Secure Check Cashing, Inc
- National Money Mart Company
The report provides a detailed analysis of these key players of the global check cashing services market. These players have adopted different strategies such as partnership, product launch, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key benefits for stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the check cashing services market forecast from 2022 to 2032 to identify the prevailing market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities of check cashing services market outlook.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the check cashing services market segmentation assists in determining the prevailing check cashing services market opportunity.
- Major countries in each region are mapped according to their revenue contribution to the global check cashing services market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the check cashing services market players.
- The report includes an analysis of the regional as well as global check cashing services market trends, key players, market segments, application areas, and market growth strategies.
Check Cashing Services Market Report Highlights
By Service Provider
- Banks
- Credit Unions
- Others
By Type
- Pre-printed Checks
- Payroll Checks
- Government Checks
- Tax Checks
- Others
By End User
- Commercial
- Personal
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Fintech PR
Orbital Now Supports Stablecoin Payments on TON Blockchain

LONDON, TALLINN, Estonia and GIBRALTAR , March 11, 2025 /PRNewswire/ — Orbital, a multi-licensed provider of stablecoin and traditional payment solutions, announces the integration of The Open Network (TON) blockchain into its Crypto Payment Gateway, enabling merchants to expand into emerging markets.
TON is a high-performance layer-1 blockchain designed for fast, low-cost transactions. Its deep integration with Telegram has fueled rapid adoption, particularly in emerging markets such as Turkey, Brazil and Indonesia.
“At Orbital, we continuously listen to our clients while shaping the future of global payments. Our mission is to make payments more accessible and secure so businesses can focus on growth. By integrating TON Blockchain for stablecoin payments, we’re reinforcing our commitment to building a powerful, global payments platform—one that unifies stablecoin speed with traditional finance to move money smarter.”– said Chris Mason, CEO of Orbital.
Orbital’s Crypto Payment Gateway allows businesses to accept crypto payments across six currencies, including two major stablecoins, on five blockchains. Merchants can choose from several options to accept crypto payments, including Embedded Payments Pages, a WooCommerce Plugin, or fully custom solutions using the Orbital API.
Once payments are accepted, they can be used within Orbital’s all-in-one payment platform, which also allows businesses to receive assets in major stablecoins, 11 traditional currencies, and 60+ exotic currencies, via SWIFT, Faster Payments, CHAPS, and Fedwire payment systems. Businesses can benefit from global accounts in both stablecoins and traditional currencies, exchange assets, initiate payouts, and handle tailored requests via the OTC desk, creating a smarter way to move money globally and scale efficiently.
Why Supporting TON Blockchain for Stablecoin Payments Matters
- Growing adoption – TON now has 2.7 million holders of the most widely used stablecoin on the network, with a total supply of $1.43 billion (Tonscan.org, Feb 2025).
- Lower transaction costs – Stablecoin payments on TON are more cost-effective compared to Ethereum and TRON (Gasfeesnow.com).
- Engaging with Telegram’s 950M+ user base unlocks significant distribution opportunities.
While stablecoins offer significant efficiencies, they carry risks related to issuer solvency, reserve adequacy, and evolving regulatory frameworks. Businesses should assess these factors when considering stablecoin adoption.
For more details on TON Blockchain support and how it benefits business, visit Orbital’s Website and request a call with our team.
Media Contact
Andrea Pearson
Head of Marketing & Corporate Communications, Orbital
[email protected] www.getorbital.com
About Orbital
Orbital is an award-winning global payments platform with over 8 years of experience in orchestrating secure and seamless stablecoin and traditional payments for businesses globally. Headquartered in London, Tallinn, and Gibraltar, Orbital is licensed as an FCA-authorized payment institution in the UK, an EMI and DLT Provider in Gibraltar, a VASP in Estonia, and holds VQF SRO membership in Switzerland.
Orbital equips B2B and B2C businesses with an all-in-one platform that offers named vIBANs, Stablecoin Wallets, and the ability to pay-in, payout, and exchange across all major stablecoins, traditional currencies, and over 80 exotic currencies, interchangeably.
Orbital’s multi-jurisdictional licensing framework, combined with compliance with international security standards including SOC 2 Type 2, ISO 27001:2022, CSA TPC, and Cyber Essentials Plus, enables the platform to seamlessly unify both stablecoin and traditional currency payments on a global scale.
Important: This communication is for informational purposes only and does not constitute financial or investment advice. It is intended exclusively for eligible corporate clients outside the UK and high net worth companies. Cryptocurrencies are highly volatile and carry significant risks, including potential total loss. Past performance is not a guarantee of future results. Seek independent professional advice before investing. Crypto-asset products and services mentioned here are not authorised or regulated by the UK FCA. These investments may lack the protections of FCA-regulated products.
About The Open Network (TON)
The Open Network (TON) is a global, decentralized blockchain community focused on putting crypto in every pocket. By building the Web3 ecosystem in Telegram Messenger, TON’s vision is to empower 500 million users to own their digital identity, data, and assets by 2028. Learn more at https://ton.org/
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Fintech PR
Neuromod Closes €10 Million Financing to Accelerate Commercialisation

- Financing led by existing investors Fountain Healthcare Partners and Panakès Partners;
- Neuromod will use funds to accelerate commercialisation in the USA and Europe.
DUBLIN, March 11, 2025 /PRNewswire/ — Neuromod Devices Ltd. (Neuromod), an Irish medical device company specialising in tinnitus, has successfully closed a €10 million equity financing to expand the availability of its tinnitus treatment device, Lenire.
Oversubscribed Financing to Drive Commercialisation
Neuromod has raised €10 million of equity in an expansion of its Series B fundraisings. The financing was oversubscribed and was led by existing investors Fountain Healthcare Partners and Panakès Partners, backing Neuromod’s mission to advance tinnitus care for patients globally.
Neuromod has been making Lenire available through audiology and ENT practices throughout the USA and Europe. Proceeds from the financing will be used to meet demand for Lenire through sustainable commercial expansion in the USA and Europe and expand on existing opportunities in the US Department of Veteran Affairs (USVA).
Following FDA approval in March 2023, more than 100 clinics throughout the USA now treat tinnitus patients with Lenire. Availability of Lenire has also expanded in Europe with clinics in 14 countries now using the device. In the last 6 months, the number of clinics in the UK trained to use Lenire has doubled, and it is available to patients in Sweden for the first time.
In June 2024, Neuromod was awarded a Federal Supply Schedule 65 II Medical Equipment and Supply Contract from the US Government, making Lenire a treatment option for the 2.9 million US Veterans living with tinnitusv through the USVA. 35 USVA facilities have been trained to provide treatment with Lenire with more scheduled for training in 2025.
Real-World Evidence – Substantial Momentum
Positive results for tinnitus patients treated with Lenire in real-world settings at independent USA-based clinics have been compiled with a base of over 1,500 patients that continues to grow. In what will be the first of a series of planned real-world evidence publications, results from Alaska Hearing & Tinnitus Center showed that 91.5% of 220 patients reported clinically significant improvement in their tinnitusvi. This data is consistent with, and in many instances outperforms, data from Lenire’s large-scale clinical trials.
These results followed the publication of Lenire’s pivotal controlled clinical trial results, which led to US FDA approval and featured as the cover-story in peer-reviewed journal, Nature Communicationsiv. This article is in the 99th percentile of more than 250,000 tracked Nature articles.
Comments
Commenting on the news, Dr. Ross O’Neill PhD, Founder & CEO of Neuromod, said, “We are delighted to announce an oversubscribed financing at a pivotal time when we are driving forward with our mission of making Neuromod the category creator for tinnitus globally.”
“Tinnitus is the largest unmet need in hearing healthcare globally and is the number one service-connected disability among US veterans and military personnel. I am proud of the progress Neuromod is making to deliver our market-surpassing treatment to as many tinnitus patients as possible while enabling care providers’ expertise to be commercially rewarded. I am also grateful for the continued support of our investors who share our vision of advancing tinnitus care globally,” Dr. O’Neill continued.
Dr. Manus Rogan, Chairman of Neuromod and Managing Partner of Fountain Healthcare Partners, commented, “Recent results from tinnitus patients using Lenire in the real-world show that it represents a new standard of care for tinnitus. The successful closing of this financing ensures more patients will get access to this standard of care as quickly as possible.”
Alessio Beverina, Managing Partner of Panakès Partners, said, “Panakès is pleased with the progress of Neuromod since our investment, with significant clinical trial, FDA approval, real-world evidence, and commercial success in both Europe and the USA; and it is proud to continue supporting Neuromod’s work to bring a new standard of care to a historically underserved patient population.”
Emily E. McMahan, Owner of Alaska Hearing and Tinnitus Center and author of the clinic’s Real World Evidence Paper, said, “Impressive clinical trial results for Lenire led me to early adoption of the landmark tinnitus treatment technology.”
“In my clinic, and my colleagues’ clinics, we are seeing results that are superior to clinical trial results,” Dr. McMahan continued.
About Neuromod Devices Ltd
Founded in 2010, Neuromod Devices Ltd. is a medical technology company headquartered in Dublin, Ireland. Neuromod specialises in the design, development, and commercialisation of neuromodulation technologies to address the clinical needs of underserved patient populations who live with chronic and debilitating conditions. The lead application of Neuromod’s technology is in the field of tinnitus, where Neuromod has completed extensive clinical trials to confirm the efficacy of its non-invasive neuromodulation platform in this common disorder. For more information visit www.neuromoddevices.com.
About Tinnitus
Tinnitus, commonly known as ‘ringing in the ears’, is a complex neurological condition that causes a perception of sound when there is no external source. Tinnitus affects an estimated 15% of the global adult populationi.
The management of tinnitus poses significant burden on healthcare systems. A 2021 study estimated the socioeconomic costs of tinnitus in Germany at €21.9 billion per annumvii. In the USA it’s estimated the Veterans Benefits Administration paid out approximately $5.8 billion through its Veterans Compensation benefits program for tinnitus in 2023v. The American Tinnitus Association, the leading advocacy body in the USA for people living with the condition, has recently revised its estimate that 50 million Americans live with tinnitus upward to 70 millionviii.
About Lenire
Lenire is the first non-invasive bimodal neuromodulation tinnitus treatment device shown to soothe and relieve tinnitus in a large-scale clinical trial. Lenire works by delivering mild electrical pulses to the tongue, through an intra-oral component called the ‘Tonguetip®’, combined with auditory stimulation through headphones. This combination drives changes in the brain to treat tinnitus. To date, the device has been used in large-scale clinical trials with over 700 patientsii,iii,iv.
Lenire has CE-mark certification for the treatment of tinnitus under the supervision of an appropriately qualified healthcare professional in Europe and has received a De Novo grant of approval by the US FDA. Further details about Lenire including a list of providers can be found at www.lenire.com.
Connect with Neuromod Devices Ltd
LinkedIn: linkedin.com/neuromod
X: x.com/NeuromodDevices
Facebook: facebook.com/neuromoddevices/
Website: www.neuromoddevices.com
References & Notes
(i) Baguely et al., Tinnitus, The Lancet (2013), sciencedirect.com/science/article/pii/S0140673613601427
(ii) Conlon et al., Sci. Transl. Med. 12, eabb2830 (2020)
(iii) Conlon et al., Different bimodal neuromodulation settings reduce tinnitus symptoms in a large randomized trial, Sci Rep, doi.org/10.1038/s41598-022-13875-x (2022)
(iv) Boedts M, B. A., Khoo G, et al. Combining sound with tongue stimulation for the treatment of tinnitus: a controlled pivotal trial. Nature communications (2024)
(v) US VA Benefits Report Fiscal Year 2023: https://www.benefits.va.gov/REPORTS/abr/
(vi) McMahan, E.E. and Lim, H.H., 2024. Effectiveness of bimodal neuromodulation for tinnitus treatment in a real-world clinical setting in United States: A retrospective chart review. medRxiv., pp.2024-08; doi: https://doi.org/10.1101/2024.08.22.24312175 [preprint]
(vii) Tziridis K, Friedrich J, Brüeggemann P, Mazurek B, Schulze H. Estimation of Tinnitus-Related Socioeconomic Costs in Germany. Int J Environ Res Public Health. 2022 Aug 22;19(16):10455. doi: 10.3390/ijerph191610455. PMID: 36012089; PMCID: PMC9407899
(viii) https://www.linkedin.com/posts/patrickalynch_tinnitus-activity-7270503831304654848-VbWN/
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Fintech PR
Seedtag Appoints Aritz Reyes as Global SVP of Operations

Aritz Reyes has joined Seedtag as Global Senior Vice President of Operations, overseeing the company’s operations globally across 16 markets.
MADRID, March 11, 2025 /PRNewswire/ — Seedtag, the global leader in contextual advertising, has appointed Aritz Reyes as Global SVP of Operations. In this role, Aritz will oversee the company’s operational transformation to support its rapid growth and further enhance its international footprint across 16 markets. Based in Madrid, his primary focus will be optimizing operations to ensure Seedtag’s global scalability and the long-term success of its business model.
With over 18 years of experience in digital advertising, Aritz has held various executive positions on both the demand and supply sides at major multinational companies. His past leadership roles include Managing Director at Xaxis (GroupM), Head of Operations at Havas, and Managing Director at Kinesso (IPG). He specializes in platform-based digital buying and has extensive expertise in programmatic advertising, having contributed to its growth from its early development. His technical, operational, and business acumen will be crucial in ensuring high-quality execution to meet advertisers’ business objectives.
“It is an honor to join Seedtag, a Spanish company with a strong global presence. I’m excited to bring my experience to optimize our operations and continue delivering value across all our markets,” said Aritz Reyes.
Jorge Poyatos, Co-CEO and Co-Founder of Seedtag, added: “Aritz’s arrival will accelerate the strategic use of technology to drive efficiencies and streamline processes. The operations team will play a key role in supporting the growth we anticipate in the coming years, ensuring that customer satisfaction remains Seedtag’s top strategic priority.”
About Seedtag
Seedtag, the global contextual advertising company, specializes in privacy-first advertising throughout the open web and CTV, powered by its contextual AI, Liz. Seedtag enables brands and agencies to discover the most relevant audience interests using a sophisticated contextual graph fueled by contextual data from +10,000 premium publishers. This capability ensures advertisers reach their audience at the right moment, with the right message. Utilizing the power of context to achieve advertisers’ aims across the customer journey, Seedtag creates innovative advertising solutions for everyone.
Founded in 2014, Seedtag has its headquarters in New York City and Madrid, with a global team of +600 people and offices in EMEA, LATAM, North America, and APAC.
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