Global remittance trends 2024
Latest insights into the $700 billion global remittance market and emerging trends
The global remittance market continues to grow, with millions of people sending money home to support their families. Understanding current trends helps both providers and users make better decisions about international transfers.
The Shift to Digital
Traditional cash-based remittances are declining as digital alternatives become more accessible. Mobile apps and online platforms now account for over 40% of all remittances, a figure expected to reach 60% by 2026.
Impact of Technology
Artificial intelligence and machine learning are improving fraud detection and streamlining compliance processes. This allows providers to offer faster services while maintaining security and regulatory compliance.
The remittance industry is becoming more efficient, transparent, and user-friendly. As technology continues to advance and competition increases, consumers benefit from lower costs and better service.