## Digitized Remittances

The process of sending money to family members or friends in one’s home country, otherwise known as remittances, is a lifeline for many migrant workers worldwide. Think of remittances like traditional person-to-person (P2P) money movement but spanning multiple countries. Visa Direct enables banks and remitters to send funds directly to eligible cards, bank accounts and digital wallets internationally.

**Helping transform cross-border remittances with Visa Direct**

## 3 Visa Direct by the numbers

**7.5B+**  
**transactions processed**  
**190**  
**countries and territories**  
**Total “wallet reach” of Visa Direct now stands at**  
**2.5B+**  
**Cross-border P2P transactions grew**  
**65% YOY**

## The Global Remittance Landscape

**Connecting people through fast and secure payment solutions**  
Remittances are both a lifeline for individuals, but also vitally important for the prosperity of many developing economies worldwide.

In 2022 migrants sent home nearly

**$4,800B** ($794B)  
**$5.4T by 2030**

### Remittance users in the U.S. and globally:

Number US (digital) remittance users  
**2.4M**  
Number of global remittance users  
**280M**

In 2022, US received

**$6,097M** in remittances  
The average amount of money sent is between  
**$150 -$300**

## Money Travels: 2023 Digital Remittances Adoption Report

**Identifying money movement barriers and transforming a digital economy**  
Through the Money Travels 2023 Digital Remittances Adoption Report, Visa uncovers the latest trends in how consumers are sending money abroad and identifies fragmented pain points that still exist today. The survey dives into the rates, methods, and reasons for sending and receiving these lifeline payments.

### Key Findings Across Markets Include:

In North America, **60-70%** of surveyed remittance users have used an app-based digital payment method to send/receive money internationally.

Sending money through digital apps is the most popular method for **69% and 65%** of surveyed consumers in Saudi Arabia and the United Arab Emirates respectively.

In Singapore, **61%** of surveyed consumers reported using digital-only means for sending money internationally with **53%** attributing their preference for digital-only means due to ease of use and security.

## MEXICO PERU

Poland, Mexico, Peru, the Philippines **receive** **remittances at higher rates** than sending them.

**Three-quarters** of surveyed remittance senders in Mexico and Peru have used app-based digital payment methods, while **two-thirds** of recipients have used an app.

France and Singapore see **higher send rates.**

## Visa Remittance Tracker: Holiday Edition

**Connecting people during the holidays with fast and reliable payment solutions**  
With the holidays as a prominent time to send money to loved ones abroad, Visa’s Holiday Remittance Report analyzed how **English and Spanish-speaking remittance users** planned to send money across borders during the 2023 holiday season, and how this differed compared to the previous year. Of the data findings, it’s clear that of the remittance users surveyed, **digital transfer is the preferred method** throughout the year, with the holiday being no exception.

### Other Key Findings Include:

Spanish-speaking remittance users surveyed planned to use digital transfers  
Spanish-speakers send money abroad more frequently than all other users surveyed overall  
**63%** of surveyed US adults who sent money abroad last holiday season via cash, check or money order planned to use digital methods in 2023.

**Surveyed remittance users prefer digital:**  
**64%** value funds arriving faster  
**60%** value convenience.