Money Travels: 2024 Annual Remittances Adoption Report

Money Travels: 2024

Digital Remittances

Adoption Report

2Money Travels: 2024 Digital Remittances Adoption Report

Table of

Contents

Executive Summary

Asia Pacic

Europe

Latin America

Middle East

North America

Money Travels: 2024 Digital Remittances

Adoption Report: Survey Methodology

EXECUTIVE SUMMARY

REGIONAL HIGHLIGHTS

METHODOLOGY

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3Money Travels: 2024 Digital Remittances Adoption Report

Executive Summary

Billions worth of currency travels around the world every

second. And many of those billions come from individuals

— not just from the trading of stocks from brokers in capital

cities or businesses sending funds over country lines.

Remittances are human to human transactions. Often, these transactions

are from migrant workers who send funds to their loved ones in their

native countries. Remittances act as a lifeline for many families in

countries on every continent. Remittances to low- and middle-income

countries grew an estimated 3.8% in the past year

to reach a staggering

$669 billion in 2023.

By region, remittance inows grew for Latin America and the Caribbean

(8%), South Asia (7.2%), and East Asia and the Pacic (3%). Flows to the

Middle East and North Africa fell for the second year, declining (-5.3%)

mainly due to a sharp drop in ows to Egypt. Remittances to Europe and

Central Asia also fell (-1.4%) after gaining traction (18%+) in 2022.

Visa’s Money Travels: 2024 Digital Remittances Adoption Report survey

of nearly 45,000 remittance senders and receivers across 20 countries,

looks at some of the progress, and challenges, that exist today. This year’s

report surveyed twice as many countries as the 2023 study, taking a closer

look at remittance patterns, instances, digital app adoption, and barriers

for frictionless remittance payments. Sometimes, sending for a personal,

unexpected need was outweighed by a humanitarian need, showcasing

the true human-to-humanity impact of a digital transaction.

United States, Canada, Mexico,

Peru, Brazil, France, Poland,

United Kingdom, Germany,

Denmark, Sweden, Norway,

Philippines, Singapore, Australia,

Japan, China, India, United Arab

Emirates, and Saudi Arabia

nearly 45,000

remittance senders

and receivers surveyed

20 countries

By the numbers

4Money Travels: 2024 Digital Remittances Adoption Report

Remittances, while transactional, are driven by an array of personal needs,

wants, and worldwide events. To sum up the 2024 survey ndings in a few

short takeaways:

• Digital applications (apps) continue to be more and more adopted

— with digital remittances being the preferred method amongst

surveyed consumers across all surveyed countries.

• Security is noted as a key benet of digital remittances. And app-

based digital payments are seen as more secure than any other

payment method.

• Top reasons for sending remittances include helping those in need,

educational costs, and health costs.

• Remitter pain points include — but are not limited to — high fees or

hidden fees that are surprising to both senders and receivers.

• Rates of sending and receiving remittances vary widely by country

with a surprising overall slowdown in remittances due to an array of

economic factors.

Continue reading to further explore the rise of sending and receiving

via digital apps, the humanitarian assistance behind many of these

transactions, and how consumers see the safety and security benets of

digital remittances.

SOURCE:

https://www.worldbank.org/en/news/press-release/2023/12/18/remittance-ows-grow-2023-slower-

pace-migration-development-brief

Executive Summary

2024 Visa Annual Remittances Adoption Survey conducted by Morning Consult

5Money Travels: 2024 Digital Remittances Adoption Report

Money is traveling digitally

more than ever

-

munities and economies around the world. But money movement across borders can have

many pain points. Visa’s Money Travels: 2024 Digital Remittances Adoption Report survey

looks at some of those pain points as well as the progress being made today to solve them. It

also reveals new insights into how consumers around the globe see digital remittances. From

those countries surveyed, the highest rate of sending via digital apps are visualized below.

6Money Travels: 2024 Digital Remittances Adoption Report

Global humanitarian aid



Report takes a closer look at remittance payments being sent for humanitarian need

reasons, highlighting the human impact of a digital transaction. Helping those in



lead remittance rationale for many respondents with improving future prospects,

supporting the lives of people in crisis, and educational and health costs rating high in

many countries.

Money movement is personal.

One of our visions for Visa Direct

is to create new opportunities

for nancial inclusion and wealth

building by helping to simplify cross-

border payments and streamline

the way money travels. This

new research shows incredible

acceleration of digital payments, but

there is still more the industry can

do to bring streamlined remittances

within reach for more migrant

workers and their families who rely

on these lifeline payments.”

Vira Platonova

Chief Revenue Ocer, SVP, Global Money Movements at Visa

Money Travels: 2024 Digital Remittances Adoption Report 7

8Money Travels: 2024 Digital Remittances Adoption Report

Australia, China, India, Japan, Philippines, Singapore Report Findings

Some of Asia Pacic’s participating countries lead the

world in remittance money movement. The frequen-

cy of sending/receiving at least once per year by

respondents is highest in all countries in the study in

China (99%/96%), followed by India (86%/85%), and

Singapore (86%/84%). Singapore respondents have

an active role in cross-border transactions to China

(18%), Malaysia (11%), and Australia (13%). Top coun-

tries for outgoing remittances by those surveyed in

India include the U.S. (31%), Australia (17%), Canada

(16%), and the UK (14%).

While frequency remains high, remittance users

surveyed in previous surveys have actually decreased

year-over-year (March 2024 from December 2022)

the Philippines (-7% sent/-24% received), and Singa-

pore (-9% sent/-10% received).

DIGITAL APPS LEAD TRANSACTIONS

Throughout Asia, digital apps are the leading meth-

od for sending and receiving remittances abroad by

those surveyed, followed by digital remittances from

a physical location. Adoption of digital methods

is moderately high in this region, as approximate-

ly three quarters of remittance user respondents

in India (76%/77%), the Philippines (75%), China

(71%/71%), and Singapore (69%/71%) have used an

app-based digital payment method to send/receive

money internationally.

The high usage of digital apps is mostly attributed to

ease of use and safety. Those surveyed highest for

ease in sending/receiving in Asia Pacic include the

Philippines (53%/57%), India (53%/52%), and Singapore

(47%/47%). Of respondents who scored the highest

reason as safety were India (48%/50%), Philippines

(46%/49%), and Singapore (44%/47%). While those

surveyed in China didn’t score safety as high for send-

ing/receiving (34%/36%), it was followed up directly by

“peace of mind” by about a third (28%/32%).

BARRIERS TO REMITTANCES

High fees are the main pain point for digital remittance

users surveyed in all Asia Pacic markets measured.

In most Asia Pacic markets, 40-50% of respondents

(except in Australia with 33%) indicated they have been

oered a free transfer when sending cash, checks or

money orders, only to nd out there were hidden fees.

Respondents in China believe that receiving a cheque

in the mail/money order is the safest way to receive

money (40%) and is perceived to be safer than cash

due to their traceability and the ability to replace the

money order if it goes missing.

Asia Pacic

9Money Travels: 2024 Digital Remittances Adoption Report

Australia, China, India, Japan, Philippines, Singapore Key Findings

Asia Pacic

The frequency of sending/receiving at least once

per year by respondents is highest in all counties

in the study in China (99%/96%), followed by India

(86%/85%), and Singapore (86%/84%).

REMITTANCE REASONS VARY

Top reasons for sending or receiving remittances by

those surveyed across Asia Pacic are quite dier-

ent. Most surveyed in India (52%), Australia (49%),

and Singapore (49%) said it was for humanitarian

needs. In China (27%) and India (22%), respondents

said they sent money to improve future prospects,

higher than all other Asian markets. In China, those

surveyed indicated that accounts/investments are

a top reason for sending/ receiving remittances

(28%/41%). Interestingly, a top reason for receiving

money from overseas by respondents in Australia

is sending money to themselves from their own

accounts or investments (19%).

ReceivingSending

China

India

Singapore

96%

85%

84%

99%

86%

10Money Travels: 2024 Digital Remittances Adoption Report

The high usage of digital

apps is mostly attributed

to ease of use and safety.

Adoption of digital methods is moderately high

in this region, as approximately three quarters of

remittance user respondents in India (76%/77%), the

Philippines (75%), China (71%/71%), and Singapore

(69%/71%) have used an app-based digital payment

method to send/receive money internationally.

Most surveyed in India

(52%), Australia (49%), and

Singapore (49%) said their

top reason for sending or

receiving remittances was

for humanitarian needs.

Australia, China, India, Japan, Philippines, Singapore Key Findings

Asia Pacic

Australia Singapore

India

49% 49%

52%

SOURCE:

Money Travels: 2023 Digital Remittances Adoption

Report from Visa

Money movement is personal.

At Asia United Bank, we deeply understand

the critical role that remittances play in

the lives of countless Filipinos and we are

committed to making a profound dierence

to families, communities and economies,

not just here in the Philippines, but around

the world. Our long standing partnership

with Visa is a testament to this commitment,

enabling us to provide fast, easy, and secure

digital remittance. Our bank app allows

users to make fast, secure, and convenient

digital transfers at their ngertips. These

remittances, sent and received in a day, are

critical to supporting Filipinos’ daily needs

and major milestones. We’re not just moving

money, we’re moving lives forward.”

Abraham T. Co

Vice Chairman, Asia United Bank Corp

Money movement is personal.

The global payment ecosystem is

complex with banks, digital wallets,

and other highly localized payment

methods, often operating in silos

within very dierent regulatory

parameters. At Thunes, we close

the gap between these payment

systems to allow interoperability

and ensure fast, secure, and cost-

eective remittances. Adapting a

robust compliance framework to

comply with multiple jurisdiction

regulations is crucial for ecient

cross-border payments.”

Chloé Mayenobe

President and COO, Thunes

13Money Travels: 2024 Digital Remittances Adoption Report

Denmark, France, Germany, Norway, Poland, Sweden, and the UK

Report Findings

All European countries surveyed except Poland send

money to other countries more frequently than they

receive money from abroad. Poland responders

receive remittances most frequently (65%) at least

once per year. Of those surveyed in Europe, Denmark

responders were least likely to send money to anoth-

er country in the next 12 months, noted by only one-

in-ve (20%). Even fewer Denmark respondents (16%)

noted they were less likely to receive remittances in

the next 12 months.

Both European countries surveyed year-over-year

reported declines in remittance usage: France (-18%

sending/-8% receiving) and Poland (-18% receiv-

ing/-10% sending), aligning with an overall decline

from respondents in all ten countries in the previous

year’s report. Yet the frequency of remittance use in

France is high among senders surveyed, as almost

three quarters (72%) typically send, and over half

(59%) typically receive money at least once per year.

The second highest frequency of remittance users

surveyed in Europe is in the UK, with two-thirds of

respondents (66%) having sent money at least once

per year, and more than half (59%) receiving money at

least once per year.

Europe

DIGITAL LEADS REMITTANCES

Digital apps are the leading method for sending and re-

ceiving remittances abroad by those surveyed, followed

by digital remittances from a physical location. Adoption

of digital methods is moderately high by those European

countries in the study. Between 50-71% of remittance

users surveyed in those countries have used an app-

based digital payment method to send/receive money

internationally. The highest percentage of respondents

in the countries surveyed include Germany (71%), UK

(68%), Sweden (67%), and Poland (66%).

All of the European countries’ respondents perceive

digital app payments as the most secure method for

sending/receiving remittances: UK (50%/51%), Germany

(56%/45%), France (47%/43%); Poland (48%/41%); Demark

(48%/48%); Sweden (49%/50%), and Norway (44%/52%).

HIGH UPFRONT AND HIDDEN FEES TOP PAIN POINTS

High fees are the main pain point for digital remittance

users in all European markets measured. Among the

European markets’ respondents in the study, Poland

residents surveyed are most likely (31%) to have been

oered a free transfer when sending cash, checks or

money orders, only to nd out there were hidden fees,

while respondents in Sweden are least likely (18%) to

encounter that issue.

14Money Travels: 2024 Digital Remittances Adoption Report

Europe

surveyed in France (33%). Those surveyed in Norway

cited the top reason for receiving is for accounts or

investments (30%).

Supporting the lives of people in need and with

humanitarian assistance scored highest by those

surveyed in Norway (28%), France (27%), and Po-

land (23%). Only two European countries surveyed

responded to sending remittances for health or

education: Germany respondents sent for educa-

tion costs (41%) and health costs (37%); and France

respondents sent remittances for health costs (58%)

and education (53%).

Few respondents by those countries in the study

in Europe (5-15%) say they sent money to improve

future prospects.

Yet, the majority of respondents in Sweden (64%),

Germany (62%), UK (60%), Norway (59%), and Den-

mark (57%), sent digital remittances with no issues.

UNEXPECTED NEEDS AND SPECIAL OCCASIONS

RULE REMITTANCES

Reasons for sending and receiving remittances vary

greatly across surveyed European countries. The

top reason for sending remittances was due to an

unexpected need by those surveyed in France (33%),

Norway (28%), Poland (28%), and Denmark (23%).

Sending remittances for special occasions was the

top reason given by respondents in the UK (33%),

Germany (24%), and Sweden (23%).

The leading occasions for receiving remittances by

those respondents surveyed in all European mar-

kets showed receiving remittances are typically for

a holiday or special occasion with more than a third

Denmark, France, Germany, Norway, Poland, Sweden, and the UK

Report Findings

15Money Travels: 2024 Digital Remittances Adoption Report

Denmark, France, Germany, Norway, Poland, Sweden, and the UK

Key Findings

Europe

All of the European countries’

respondents perceive digital

app payments as the most

secure method for sending/

receiving remittances.

High fees are the main pain

point for digital remittance

users in all European markets

measured.

50-71%

Between 50-71% of remittance

users surveyed in those coun-

tries have used an app-based

digital payment method to send/

receive money internationally.

Sweden Poland

Germany

68%

67% 66%

71%

16Money Travels: 2024 Digital Remittances Adoption Report

Supporting the lives of

people in need and with

humanitarian assistance

scored highest by those

surveyed in Norway

(28%), France (27%), and

Poland (23%).

France Poland

Norway

27% 23%

28%

Denmark, France, Germany, Norway, Poland, Sweden, and the UK

Key Findings

Europe

The top reason for sending remittances was due to an

unexpected need by those surveyed in France (33%),

Norway (28%), Poland (28%), and Denmark (23%).

Sending remittances for special occasions was the

top reason given by respondents in the UK (33%),

Germany (24%), and Sweden (23%).

Money movement is personal.

At Brightwell we know there’s a human

at the end of a payment. Our cross-

border payment services, utilizing

Visa Direct, prioritize real human

connections over technicalities,

understanding that money often

travels from one real person to

another, bridging gaps and supporting

communities in need. We strive to

make this process as frictionless as

possible, allowing global money users

to access their funds and send support

back home with the same ease as

domestic transactions.”

Larry Hipp

CEO, Brightwell

18Money Travels: 2024 Digital Remittances Adoption Report

Brazil, Mexico, Peru Report Findings

Latin American respondents are regular remittance

users. Frequency by those surveyed in Peru and Bra-

zil is moderately high, with three-quarters sending

money at least once a year (75-76%). The frequency

of sending by those surveyed is slightly lower (64%)

in Mexico. Frequency of respondents receiving is

similar among all Latin American countries (70-80%

receive at least once per year). Likewise, nearly two-

in-three (64%) of those respondents in Mexico have

sent money and almost three-in-four (71%) who have

received money do so at least once per year.

Like many countries around the world, remittance

usage of those year-over-year respondents in Mexico

and Peru has softened from March 2024 vs. Decem-

ber 2022

(Mexico -18% received/-5% sent and Peru

-13% received/-10% sent).

DIGITAL APPS LEAD LATIN AMERICA

Adoption of digital apps for sending/receiving re-

mittances is highest globally by those respondents

in Brazil (80%/84%). Digital apps also are the lead-

ing method in Latin America for sending/receiving

remittances abroad by those surveyed in Mexico

(64%/59%) and Peru (61%/56%). Many remittance

users who responded see themselves using digital

money transfers more often in the future in Brazil

(57%), Peru (36%) and Mexico (35%).

Peru respondents cited “makes it easier” as the top

reason to send/receive remittances via digital app

(39%/40%) — likewise by those surveyed in Brazil

(51%/46%). Another top reason for sending/receiving

via digital app by those surveyed was “safety” in Mexico

(35%/34%), in Peru (30%/34%), and in Brazil (42%/42%).

FUTURE PROSPECTS DO NOT DRIVE REMITTANCES

Top reasons of those surveyed for sending remittanc-

es are due to an unexpected need in Peru (27%) and

Mexico (36%), or own accounts/investments in Brazil

(37%). Leading occasions for receiving remittances

by respondents are for an unexpected need in Peru

(23%), regular remittances in Mexico (29%), or own

accounts/investments in Brazil (34%). Few residents

of Latin America (5-15%) say they sent money to im-

prove future prospects.

HIGH FEES AND TRANSPARENCY LEAD PAIN POINTS

High fees are the main pain point for digital remittance

users surveyed in Mexico, Peru and Brazil, though

about two-fths report using digital payments with no

issues. In all three markets, about 3 in 10 respondents

indicated that they have been oered a free transfer

when sending cash, checks or money orders, only to

nd out there were hidden fees. In varying degrees,

these hidden fees when sending cash, checks or

money orders were raised as a concern in all three

countries Brazil (57%), Peru (27%), and Mexico (25%).

Latin America

19Money Travels: 2024 Digital Remittances Adoption Report

Brazil, Mexico, Peru Key Findings

Latin America

Frequency of respondents receiving is similar among

the Latin American countries surveyed (70-80%

receive at least once per year).

Frequency by those surveyed in Peru and Brazil

is moderately high, with three-quarters sending

money at least once a year (75-76%).

In all three markets, about 3 in 10 respondents

indicated that they have been oered a free transfer

when sending cash, checks or money orders, only to

nd out there were hidden fees.

Sending

75-76%

Receiving

70-80%

20Money Travels: 2024 Digital Remittances Adoption Report

Adoption of digital apps for sending/receiving

remittances is highest globally by those respondents

in Brazil (80%/84%).

Brazil, Mexico, Peru Key Findings

Latin America

Many remittance users who re-

sponded see themselves using

digital money transfers more of-

ten in the future in Brazil (57%),

Peru (36%), and Mexico (35%).

Peru

36%

Mexico

35%

Brazil: Receiving

84%

Brazil

57%

Brazil: Sending

80%

SOURCE:

Money Travels: 2023 Digital Remittances Adoption

Report from Visa

Money movement is personal.

As the world becomes more interconnected, the

ow of global remittances continues to play a

pivotal role in supporting and sustaining the

livelihoods of families around the world. These

funds not only foster nancial well-being for

individuals, but also fuel economic stability in

emerging markets. At Remitly, we recognize the

gravity of these funds, and we’re committed to

transforming the global remittance landscape

through innovation, technology, and strategic

partnerships. We strive to delight our customers

with an unparalleled experience marked by trust,

reliability, and transparency.

Our partnership with Visa enhances our ability

to achieve these goals, enabling fast, secure

transactions that support customers sending to

their loved ones across the globe.”

Matt Oppenheimer

Co-founder & CEO, Remitly

Money Travels: 2024 Digital Remittances Adoption Report 21

22Money Travels: 2024 Digital Remittances Adoption Report

KSA, UAE Report Findings

Remittance frequency is high by those respondents

in the Middle East. While residents surveyed in both

the United Arab Emirates (UAE) and Saudi Arabia

(KSA) send remittances to other countries more fre-

quently than they receive from abroad, both were

notable: UAE residents reported that they sent/

received (95%/81%) international remittances once

or more a year compared to respondents in KSA

(87%/73%).

Overall remittance usage — both sending/receiving

— by those surveyed in the Middle East has declined

year over year (March 2024 v. December 2022)

: UAE

(-10%/-6%) and KSA (-11%/-13%). Yet, more than half

(59%) of KSA and three-quarters (73%) of UAE resi-

dents surveyed plan on sending more or the same

amount of money to another country in 2024.

DIGITAL ADOPTION SEES A STRONG FUTURE

When sending remittances abroad, only Middle

East respondents in the global survey reported

that they more frequently send digital remittances

from a physical location in KSA (64%) and UAE (58%)

than using a digital app in KSA (51%) and UAE (57%).

However, digital apps are the most popular format

for receiving remittances by respondents in UAE

(63%) and KSA (67%). Adoption of digital methods

Middle East

by those surveyed is moderately high in the UAE and

KSA as more than half (50-60%) have used a digital

app for sending, while almost two thirds (60-70%) of

respondents have used an app for receiving money

from overseas.

Ease of use in UAE (50%/44%) and KSA (49%/47%)

and security in UAE (43%/43%) and KSA (44%/45%)

are the top benets of sending/receiving international

payments digitally according to respondents those

surveyed in the Middle East. Around half (52%) of KSA

remittance users surveyed and more than half (56%)

of remittance users in the UAE expect to use digital

transfers more often in the future.

FEES AND TRANSPARENCY REMAIN BARRIERS

Consistent with ndings in other regions, high fees are

the main pain point for digital remittance app users

surveyed in the Middle East. Another common pain

point for respondents in the Middle East relates to

issues calculating the exchange rate. Many surveyed

in the UAE (51%) and KSA (42%) also indicated that they

have been oered a free transfer when sending cash,

checks or money orders, only to nd out there were

hidden fees.

23Money Travels: 2024 Digital Remittances Adoption Report

HUMANITARIAN NEEDS AND HEALTH DRIVE REMITTANCES

About half of those surveyed in the Middle East —

UAE (56%) and KSA (46%) — stated that supporting

the lives of people in crisis was important to them,

sending remittances to specic and general human-

itarian needs. Other top reasons for sending remit-

tances in the UAE are regular remittances (47%) and

unexpected needs (41%) and in the KSA are unex-

pected needs (40%) and regular remittances (38%).

Leading occasions for receiving remittances by

those respondents are for unexpected needs

in KSA (20%) and UAE (30%). That is followed by

receiving for their own accounts/investments in

KSA (27%) and UAE (29%) or special occasions in

KSA (22%) and UAE (27%). A meaningful number of

senders (10-20%) surveyed in both markets say they

sent money to improve future prospects.

UAE residents reported that they sent/received

(95%/81%) international remittances once or more a

year compared to respondents in KSA (87%/73%).

KSA, UAE Key Findings

Middle East

ReceivingSending

81%

73%

95%

87%

UAE

KSA

24Money Travels: 2024 Digital Remittances Adoption Report

When sending remittances abroad, only Middle East

respondents in the global survey reported that they

more frequently send digital remittances from a

physical location in KSA (64%) and UAE (58%) than

using a digital app in KSA (51%) and UAE (57%). How-

ever, digital apps are the most popular format for

receiving remittances by respondents in UAE (63%)

and KSA (67%).

Of those surveyed in the Middle East — UAE (56%)

and KSA (46%) — stated that supporting the lives

of people in crisis was important to them, sending

remittances to specic and general

humanitarian needs.

KSA

UAE

46%

56%

KSA, UAE Key Findings

Middle East

SOURCE:

Money Travels: 2023 Digital Remittances Adoption

Report from Visa

Money movement is personal.

An international money transfer

between two individuals is more

than just a transaction, it’s often a

means of survival. Every day, we see

our customers sending money home

to support basic needs like food and

shelter. That’s why it’s crucial that we

continue to get this right. Thanks to

our partnership with Visa Direct, we’re

able to seamlessly reach millions of

additional digital endpoints, enabling

the quick and easy movement of

money to people around the world.”

Alex Holmes

CEO, MoneyGram

26Money Travels: 2024 Digital Remittances Adoption Report

U.S., Canada Report Findings

Frequency of remittances are noticeably dierent

across North America countries surveyed. Most

respondents in the U.S. send/receive international

remittances at least once per year (71%/61%)

compared to respondents in Canada (59%/44%).

Overall sending/receiving remittances has decreased

year-over-year (March 2024 v. December 2022) by

respondents in the U.S. (-5%/12%%) and respondents

in Canada (-13%/-8%).

STRONG ADOPTION OF DIGITAL APPS

Digital apps are the leading method for sending/

receiving remittances abroad by respondents in

both the U.S. (68%/66%) and Canada (64%/66%) —

with more than a quarter (27%) of users in Canada

saying they are using this tool more than they were

a year ago.

Those surveyed in North America cite “ease of use”

as a top benet of app-based digital payments for

sending/receiving remittances in the U.S. (43%/44%)

and in Canada (45%/39%). This was followed by

“security” from respondents in the U.S. (36%/43%)

and in Canada (37%/42%).

FEES AND PRIVACY REMAIN BARRIERS

High fees are the main pain point for digital remittance

users surveyed in the U.S. (28%) and Canada (43%),

though almost half report using digital payments with

no issues. However, in both countries, about 3-in-10

respondents indicated they have been oered a free

transfer when sending cash, checks or money orders,

only to nd out there were hidden fees.

REMITTANCES MOTIVATED BY HUMANITARIAN CAUSES

One of the top remittance reasons in both countries

surveyed cited giving to specic and general

humanitarian causes — U.S. (35%) and Canada (27%).

That reason for sending remittances by respondents

was supported by education costs in the U.S. (35%)

and Canada (47%) and health costs in the U.S. (40%)

and Canada (41%).

More than a third of those surveyed in both the U.S. and

Canada send remittances due to an unexpected need,

with a special occasion close behind in the U.S. (27%)

and Canada (31%). Leading occasions for receiving

remittances by respondents are typically for a special

occasion in the U.S. (33%) and Canada (34%), followed

by a holiday (29%) in both countries. Only about one

in ten (10%) surveyed in both Canada and the U.S. say

they sent money to improve future prospects.

North America

27Money Travels: 2024 Digital Remittances Adoption Report

U.S., Canada Key Findings

Digital apps are the leading method for sending/receiv-

ing remittances abroad by respondents in both the

U.S. (68%/66%) and Canada (64%/66%) — with more

than a quarter (27%) of users in Canada saying they are

using this tool more than they were a year ago.

North America

Most U.S. respondents send/receive international

remittances at least once per year (71%/61%)

compared to respondents in Canada (59%/44%).

ReceivingSending

61%

59%

71%

44%

U.S.

Canada

27%

28Money Travels: 2024 Digital Remittances Adoption Report

One of the top remittance reasons in both countries

surveyed cited giving to specic and general hu-

manitarian causes — U.S. (35%) and Canada (27%).

That reason for sending remittances by respon-

dents was supported by education costs in the

U.S. (35%) and Canada (47%) and health costs in

the U.S. (40%) and Canada (41%).

Those surveyed in North America cite “ease of use”

as a top benefit of app-based digital payments

for sending/receiving remittances in the U.S.

(43%/44%) and in Canada (45%/39%).

Canada

27%

Canada

47%

Canada

41%

U.S.

35%

U.S.

35%

U.S.

40%

North America

U.S., Canada Key Findings

Money movement is personal.

Western Union and Visa share

a mission to serve aspiring

populations around the world

by providing convenient and

accessible nancial services.

By integrating the collective

global reach of Western Union’s

network with Visa Direct, our

two organizations provide a

vital channel to move money

cross-border, and in turn,

create better lives.”

Sam Jawad

Head of Ecosystem Business, Western Union

Money Travels:

2024 Digital Remittances

Adoption Report:

Survey Methodology

Visa Money Travels: 2024 Digital Remittances Adoption Report

was conducted by Visa and Morning Consult during December

2023 – March 2024, among a sample of nearly 45,000 remittance

senders and receivers across the U.S., Canada, Mexico, Peru,

Brazil, France, Poland, UK, Germany, Denmark, Sweden, Norway,

Philippines, Singapore, Australia, Japan, China, India, UAE, and

KSA. The interviews were conducted online. Within each country

survey respondents are weighted based on census estimates for

age, gender, education, and region.

For More Information on How Money Travels

A new “The Connective Power of Remittances” Nonstop Guide explores the rise of digital remittances, the tales

behind these types of payments and how the digital revolution is helping streamline remittance payments.

For more information about Visa Direct, please visit:

https://corporate.visa.com/en/products/visa-direct/resources/payment-guides/remittances.html

United States, Canada, Mexico,

Peru, Brazil, France, Poland,

United Kingdom, Germany,

Denmark, Sweden, Norway,

Philippines, Singapore, Australia,

Japan, China, India, United Arab

Emirates, and Saudi Arabia

nearly 45,000

remittance senders

and receivers surveyed

20 countries

By the numbers