Digital Remittance Market Report 2026

The digital remittance market size has grown rapidly in recent years. It will grow from $28.9 billion in 2025 to $33.41 billion in 2026 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to increase in global migrant workforce, expansion of international money transfer corridors, rising smartphone penetration, adoption of digital banking channels, growth of online financial services.

The digital remittance market size is expected to see rapid growth in the next few years. It will grow to $60.24 billion in 2030 at a compound annual growth rate (CAGR) of 15.9%. The growth in the forecast period can be attributed to growing demand for instant international transfers, rising adoption of blockchain-enabled remittance solutions, expansion of digital remittances in emerging markets, increasing focus on regulatory compliance automation, growing investments in fintech remittance platforms. Major trends in the forecast period include increasing adoption of mobile-based remittance applications, rising use of real-time cross-border transfers, growing integration of digital wallets in remittance services, expansion of low-cost remittance platforms, enhanced focus on transaction transparency and security.

The increasing penetration of mobile devices and the Internet is expected to drive the growth of the digital remittance market in the coming years. Mobile and internet penetration refers to the broad availability and use of mobile devices and internet services within a particular population or region. Digital remittances enable fast and secure money transfers via mobile devices and the Internet, transforming the traditional remittance process. For example, in May 2025, according to the Federal Communications Commission, a US-based government agency, total connections increased by approximately 2.5% between June 2023 and June 2024, reaching 549 million. Mobile connections grew 2.5% year over year to 416 million as of June 2024, while fixed connections rose by around 2.3% to 133 million during the same period. Consequently, the rising mobile and internet penetration is fueling the growth of the digital remittance market.

Major companies in the digital remittance market are concentrating on delivering digital services, particularly digital remittance services, to facilitate smooth digital remittances and gain a competitive advantage. Digital remittance service, a secure and efficient electronic platform for cross-border money transfers, is a key focus. For instance, in July 2023, TNG Digital Sdn Bhd, a Malaysia-based e-wallet operator, introduced GOremit, a digital remittance service integrated within the Touch 'n Go eWallet, enabling users to securely send money. Senders undergo electronic Know Your Customer (eKYC) verification and can opt for fund transfers to the recipient's bank account, local eWallet, or cash pick-up points, with recipients typically receiving funds within 15 minutes. The service presently supports e-wallets such as bKash, GCash, and PayMaya, with plans for expanding partnerships in the future.

In August 2025, The Western Union Company, a US financial services and payments technology firm, acquired International Money Express Inc. (Intermex) for around $500 million. Through this acquisition, Western Union sought to broaden its North American retail presence, enhance its operations in high-growth Latin American corridors, and boost digital customer acquisition by incorporating Intermex’s extensive agent network and customer base into its global remittance ecosystem. International Money Express Inc. (Intermex) is a US-based provider of consumer and business money transfer services, allowing customers to send remittances digitally and via agent locations to over 60 countries.

Major companies operating in the digital remittance market are Remitly Inc., Citigroup Inc., American Express Company, PayPal Holdings Inc., Mastercard Inc., Western Union Holdings Inc., MoneyGram International Inc., Ria Money Transfer, Wise Payments Limited, WorldRemit Corp., Flywire Payments Corporation, OzForex Limited., Xoom Corporation, GoCardless Ltd., Nium Pte. Ltd., PaySend, OrbitRemit Limited, Taptap Send, TransferGo Ltd., CurrencyFair, Currencycloud, Pangea Money Transfer, Azimo Ltd., Remitbee, InstaReM Pvt. Ltd., Digital Wallet Corporation, SingX Pte Ltd.

North America was the largest region in the digital remittance market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital remittance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the digital remittance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The digital remittance market includes revenues earned by entities by providing digital remittance from banks digital remittance and digital money transfer operators. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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