Latest news with #MoneyTravels:2025DigitalRemittancesAdoptionReport
Korea Herald
18 hours ago
- Business
- Korea Herald
Visa Releases Money Travels 2025 Remittances Report for Asia Pacific
Latest report shows user experience driving digital migration SINGAPORE, Aug. 13, 2025 /PRNewswire/ -- Visa, a world leader in digital payments, today announced results from its annual Money Travels: 2025 Digital Remittances Adoption Report based on responses from 44,000 senders and receivers across 20 countries and territories. The report tracks remittance trends around the world, including Asia Pacific, a key region in the $905 billion [i] global remittance landscape. Key findings in this year's survey show digital applications as the most popular method for sending and receiving remittances, and ease of use, safety, privacy, and security as the top four user experience benefits driving such preference. "Remittances have long driven growth across Asia Pacific, uplifting many economies in the region," said Chavi Jafa, Senior Vice President, Head of Commercial and Money Movement Solutions, Asia Pacific, Visa. "The clear shift to app-based remittances reflects the region's demographics, the growing prominence of digital payment modes, as well as user preferences for easy, safe and quick ways to send and receive money. This shift is an important one for banks, remitters and fintechs to note as it will shape how they engage and serve evolving consumer expectations." Remittance rationale varies across the region Security and convenience outweigh pain points such as fees With one billion people relying every year on remittance services and platforms [ii], Visa continues to innovate and build solutions to enable payments businesses to enhance operational efficiency in money movement and broaden financial access for their customers. "Remittances have long been a lifeline across Asia Pacific, and they will continue to play a vital role in uplifting communities and livelihoods. At the same time, many small businesses are also beneficiary of remittances driving local growth in local economies," said Rhidoi Krishnakumar, Vice President, Head of Visa Direct, Asia Pacific, Visa. "At Visa, we recognise the enduring purpose of our role in delivering remittances on behalf of our clients and continue to innovate and build solutions to enable more efficient, reliable and secure ways to move money." Visa works in collaboration with global remitters, such as MOIN, WireBarley, Money Chain World Remittance and EzRemit, to help enable efficient money movement through digitised remittances. About Visa Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at
Business Wire
16-06-2025
- Business
- Business Wire
Visa Releases Money Travels: 2025 Digital Remittances Adoption Report for North America
SAN FRANCISCO--(BUSINESS WIRE)--Visa Inc. (NYSE: V) today unveiled its Money Travels: 2025 Digital Remittances Adoption Report, highlighting the growing influence of digital remittance applications in North America, driven by convenience, security, and user-friendly experiences. "Digital remittances are being embraced across North America due to their ease of use, reliability, and improved security," said Ben Ellis, SVP and Head of Visa B2B Connect. "As digital remittances become more prevalent, transparency and customer satisfaction will be essential to meet evolving consumer expectations." Key Findings for North America Digital App Dominance: App Preference: In the U.S., 69% of surveyed respondents prefer using digital apps for sending remittances, while 61% prefer using them for receiving. In Canada, the preference is similarly strong, with 65% preferring digital apps for both sending and receiving. Traditional Methods Lag: The use of traditional methods like cash or checks is declining, with only 5% to 8% of respondents in the U.S. and 3% to 6% of respondents in Canada favoring these options. Ease of Use: Ease and Peace of Mind: A significant portion of surveyed respondents in the U.S. (38%/34%) and Canada (45%/40%) appreciate the ease of using digital apps for remittances, while security and privacy are crucial for 36% of U.S. survey respondents and 40% of Canadian survey respondents. Primary Reasons: Unexpected needs (36% in the U.S., 32% in Canada) remain the top reason for sending remittances for survey respondents, followed by holidays and special occasions. Pain Points: Fees: High fees remain a concern, with 27% of U.S. and 30% of Canadian respondents citing this as a major issue when sending digitally. Traditional methods and hidden fees: 35% of U.S. and 28% of respondents said they had experienced some kind of hidden fee when using cash, checks or money orders. With one billion people globally involved in remittances and stable engagement in North America, Visa continues to innovate with solutions like stablecoins to help enhance cost-efficiency and broaden financial access. "Digital remittances have revolutionized the industry and offer consumers more options than ever before to send funds, but there's still room for further innovation," added Luba Goldberg, SVP, Visa Direct Product. "Continued expansion of digital options to send money around the world, and emerging technologies such as stablecoins, are poised to improve the speed, cost, and security of international remittances." About Visa Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 markets. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere uplift everyone everywhere, and see access as foundational to the future of money movement. Learn more at
