Visa Releases Third Annual Money Travels: 2024 Digital Remittances Adoption Report
2024年6月12日 - 8:00PM
ビジネスワイヤ(英語)
Global Visa research highlights the crucial
role of cross-border money movement in supporting humanitarian
efforts, as consumers see the future as digital
While remittances are a lifeline for millions of migrant workers
and their families, Visa’s annual “Money Travels: 2024 Digital
Remittances Adoption” research report found that humanitarian
assistance was a predominant driver of remittance usage on the send
side, with many noting that it was important to support the lives
of people in need, amid worldwide events.
According to the survey of nearly 45,0001 remittance senders and
receivers across twenty countries, the need for fast, easy and
secure payments has never been more important to families,
communities and economies around the world. And while global
remittances declined year-over-year due to various economic
challenges, the report shows that senders remain positive about
future remittances.
The report also found that digital applications are the
preferred ways to move money globally for more than two-thirds of
remittance users, with many (43%) experiencing no issues when
sending or receiving digital remittances, compared to the 76-77%
who experiences issues when sending or receiving physical
remittances including cash, checks, and money orders.
“Migrant workers have shown incredible resilience within the
past year to support families back home, but high inflation and a
slowing economic growth has impacted the frequency that they can
send vital funds home,” said Vira Platonova, Chief Revenue Officer,
SVP, Global Money Movements at Visa. “One of our visions for Visa
Direct is to create new opportunities for financial 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.”
The Money Travels: 2024 Digital Remittances Adoption study
examines how consumers send money abroad, diving into the rates,
methods, and reasons for sending and receiving these lifeline
payments. Highlights include:
- Digital remittances continue to be the preferred method
amongst surveyed consumers across most countries. In all
markets except the UAE and Saudi Arabia, digital apps are preferred
over sending digital remittances from a physical location.
Similarly, digital apps are also favored for receiving remittances
in all markets. In Germany, sending cash was perceived as the least
secure, especially when sent by mail or courier.
- Remittances motivation for sending varied across
countries: Most surveyed in India (52%), Australia (49%), and
Singapore (49%) said the top reason for sending remittances was
because supporting the lives of people in crisis was important to
them. Meanwhile, in Latin America, respondents sent money due to an
unexpected need (Peru 27% and Mexico 36%), or own
accounts/investments (Brazil 37%).
- Physical payments equate to hidden fees. Globally, over
one-third (36%) of respondents have been offered a free transfer
when sending cash, checks, or money orders, only to find out there
were hidden fees.
- Send and receive markets vary. Of the countries
surveyed, Australia, Canada, China, Denmark, France, Germany,
Norway, Saudi Arabia, Singapore, Sweden, United Arab Emirates, the
United Kingdom, and the United States were the largest source of
remittances. The top remittance receivers were Brazil, India,
Mexico, Peru, the Philippines, and Poland.
Visa works in collaboration with global remitters and enablement
partners such as Brightwell, Thunes, Remitly, Western Union and
Asia United Bank (AUB) to help enable efficient money movement
through digitized remittances.
For more information about Visa Direct, please visit:
https://corporate.visa.com/en/products/visa-direct/resources/money-travels-report-2024.html.
Survey Methodology
This survey was conducted by Morning Consult during December
2023 – March 24 among a sample of 40,000+ remittance senders and
receivers across North & Latin America, Europe, the Middle
East, and Asia Pacific. The interviews were conducted online.
Within each country, survey respondents are weighted based on
census estimates for age, race/ethnicity, gender, education, and
region.
About Visa Inc.
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 Visa.com.
1 The Money Travels: 2024 Annual Remittances Adoption Report
surveyed 43,789 remittance users across North & Latin America,
Europe, the Middle East, and Asia Pacific.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240612945454/en/
Andy Gerlt press@visa.com
Visa (NYSE:V)
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から 6 2023 まで 6 2024