App-based remittances win on convenience, security and speed in Asia Pacific: Visa

New Visa research reveals remittance users in the Philippines and Singapore have overwhelmingly adopted app-based digital payments, with more than half of surveyed users citing ease of use and security as key reasons for going digital

SINGAPORE, March 29, 2023 /PRNewswire/ — Asia Pacific is one of the largest remittance-receiving regions in the world[1] and making up one of the top five recipient countries for remittance inflows is the Philippines[2], with remittances contributing an estimated 9.3% of the market’s GDP in 2021[3]. This signals the importance of remittances as not just a lifeline for everyday needs but also a key economic driver in many markets.

As the amount of global remittance inflows continues to reach new records[4], a new Visa research “Money Travels: 2023 Digital Remittances Adoption” found that 53% of global surveyed remittance users are turning to digital apps to send and receive funds, with users in Singapore (73%) and the Philippines (71%) also overwhelmingly choosing to adopt app-based solutions to do so.

“Fast, easy and secure payments can make a profound difference to families, communities and economies around the world,” said T.R. Ramachandran, Head of New Payment Flows, Asia Pacific, Visa. “This new research shows incredible acceleration of digital payments and how consumer expectations of speed and ease of use is underpinned by the demand for better security.”

Digital remittances win on convenience, security and speed

The Money Travels: 2023 Digital Remittances Adoption study examines consumers’ habits and preferences when sending and receiving money. Highlights of the study include:

Digital remittances are the preferred method amongst consumers across all surveyed markets. Between 60-70% of surveyed remittance users across North America have used an app-based digital payment method to send/receive money internationally and this similar trend is observed with Saudi Arabia (69%) and the United Arab Emirates (65%) users. In Asia Pacific, digital solutions also continue to be the preferred choice, with Filipino remittance receivers intending to use digital transfers (57%) and to receive money digitally (36%). App-based digital payments are considered the most secure method by a strong proportion of remittance users across countries. In Singapore, three out of five (61%) surveyed consumers reported using digital-only means for sending money internationally because of ease of use and security (53%). Sending more money, more often, is easier than ever. Over half of those who have sent money internationally do so about once per month or more often in the United Arab Emirates (71%), Saudi Arabia (64%) and the Philippines (48%). Among those who have received money, 80% do so at least a few times per year in Saudi Arabia, followed by the Philippines (77%), and Mexico (72%).

Ramachandran continues, “Remittance habits are also changing with ease of use and better technology – we are seeing remittances being sent and received in less than a day in Asia Pacific, spurring increased frequencies. Beyond livelihoods, we are also seeing more remittances made in support of key life milestones, such as funding college education, making investments for the long term or saving for an overseas property purchase.”

Enabling smarter and faster remittances

Visa works in collaboration with global remitters such as Maya Philippines, Brightwell, Paysend, Western Union and Xoom to help enable efficient money movement through digitised remittances.

“At Maya, we understand the critical role that remittances play in the daily lives of countless Filipinos and their families. That’s why we’re working with companies like Visa to help promote innovative cross-border money transfer services. By leveraging the Maya app, including Maya Bank, to facilitate fast, secure, and low-cost remittance, we’re meeting a vital need in making transactions safer and more convenient,” said Shailesh Baidwan, Maya Group President. 

In conjunction with the study, Visa also launched “Money Travels,” a new podcast series unearthing how payment-related topics unfold differently in various places around the world and highlighting the stories of real people, payment experts and partners. For more information about Visa Direct, please visit:

This survey was conducted by Morning Consult during 14-28 December 2022 among a sample of more than 14,000 remittance senders and receivers across the United States, Canada, Mexico, Peru, France, Poland, Philippines, Singapore, United Arab Emirates and Saudi Arabia.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating payments 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

Media Contact

Isabell Tay
Visa Worldwide Pte. Ltd
[email protected]