Users in the digital remittances segment Australia 2017-2025

Number of users in the digital remittances segment of the fintech market Australia from 2017 to 2025

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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:

Digital Remittances refer to the electronic transfer of money from one person or entity to another, typically across international borders. The transfers are made via online platforms, mobile apps, and other digital channels that allow individuals to send and receive money quickly and securely. The target users of these services are usually migrant population. Remittances in general include periodic fund transfers between residents and non-residents and earnings transfer from short-time workers from other countries to their country of origin. Digital remittances are becoming more and more popular due to their convenience, cost-effectiveness, and speed when compared to traditional methods such as wire transfers. Additionally, digital remittances can also provide increased transparency and security, as well as the ability to track transactions in real-time.

Additional Information:

Key players in this are market Wise, Remitly and Xoom.

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Statistics on " Remittance flows by country worldwide "

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Flows, worldwide

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Europe

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Latin America and the Caribbean

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Middle East and Central Asia

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North America

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South Asia, East Asia, Australia and Oceania

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Southeast Asia

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