Digital remittances average transaction value in the APAC region 2022, by country

Average transaction value of digital remittances in the Asia-Pacific region in 2022, by country

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Supplementary notes

Digital Remittances are cross-border money transfers made over the internet by the migrant population. Remittances in general include fund transfers between residents and non-residents and earnings transfer from short-time workers from other countries to their country of origin. Remittances often occur on a regular basis and most of the user groups are not prone to switching their fund transfer provider often.

Legacy providers in this segment are banks, post offices and specialized money transfer services such as Western Union and MoneyGram. These services charge comparatively high fees, and the digital companies such as Transferwise, Worldremit and Remitly have won their share of the market by offering reduced transfer fees. This is possible due to optimizing the use of digital infrastructures to bypass much of the costs.

Funds that are transferred domestically are not included in the Digital Remittances segment.

All figures are estimates. A detailed methodology can be found in the Statista Market Outlook.

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Statistics on " Digital payments in the Asia-Pacific region "

Statistics on Digital payments in the Asia-Pacific region

Overview

5

Usage

5

Payment methods

6

Cyber security

5

Consumer behavior

4

Outlook

5

Further related statistics

21
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