They are very much relevant, albeit now facing various hurdles. The number varies. I’ve seen it as low as 5% and as high as 50%. However, they average out between a fifth (20%) to a quarter (25) of the market share.

These numbers are now on the the decline due to issues like derisking/access to banking, OMTOs (Online Money Transfer Operators), technology, compliance, corridor offering, pre-funding capital issues, etc.

The industry will eventually mimic the same way the online industry presents itself. A few dominant players and a few niche players. Everyone else would wither away.

There are no official statistics around this.