Top Digital Apps for Youth Remittances in the Asia Pacific Region
A new report from Visa reveals that over 74% of young individuals in key Asia Pacific markets now prefer using digital applications for sending and receiving remittances. Speed and trust have emerged as the primary factors influencing their choice of remittance methods, surpassing concerns about transaction fees. The Money Travels: 2025 Digital Remittances Adoption Report is based on a survey of 44,000 remittance senders and receivers across 20 countries and territories, highlighting the evolving preferences in the remittance landscape. The Asia Pacific region plays a significant role in the global remittance sector, which is estimated to be worth USD $905 billion. The report indicates that digital applications are the most popular channel for remittances, with usage rates peaking in India (74%/76%), the Philippines (74%/66%), and Singapore (70%/75%). Japan has also seen a notable increase, with digital app usage rising by 10% to 58% for senders and 56% for receivers compared to the previous year.
Respondents overwhelmingly view digital payments as the fastest way to access funds, particularly in the Philippines, where 73% of both senders and receivers share this perspective. Other countries, such as Singapore (67%/66%), Australia (58%/55%), and India (55%/53%), also reflect similar sentiments. Most users across the surveyed Asian markets reported few or no issues with digital remittance transfers, especially in Australia (48%/53%), Japan (37%/41%), Singapore (36%/37%), and Mainland China, which experienced increases of +13% for senders and +8% for receivers since 2024. Motivations for sending and receiving remittances vary, with contributing to accounts or investments being a primary reason in Mainland China (45%/36%), Singapore (38%/33%), and Japan (27%/23%). Humanitarian reasons are also significant, particularly in Mainland China (45%/33%), India (40%), Singapore (27%), and Australia (25%). Overall, the report underscores a clear shift towards app-based remittances, reflecting the region’s demographics and the growing prominence of digital payment modes.
Categories: Digital Remittance Preferences, Motivations for Sending Remittances, Security and Convenience in Transactions
Tags: Digital Apps, Remittances, Asia Pacific, Transaction Fees, Speed, Trust, Security, Convenience, Humanitarian Reasons, User Preferences