The data highlights growing digital adoption to improve daily lives in the global payments ecosystem
Study unveils preferred way to send money abroad among Americans. Source:
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According to a new Visa survey, 23% of surveyed American adults have sent money from the US to another country while 65% of those remittance users plan to send money to another country to celebrate the holiday season.
In fact, digital remittances are the preferred method, with digital-only transactions already being the most popular and 59% of the remittance users surveyed saying they have sent or plan to send money using digital-only platforms.
The study has found that 51% of surveyed American adults who send money to families internationally to celebrate the holiday season plan to send money within the next month.
Year-round, the top reasons for sending money abroad are to help someone unexpectedly in need (46%) or for holiday gifts (31%) and other special occasions (32%).
Still, about one-third of surveyed people say they regularly send money to support friends or family in other countries.
Digital-only transactions are the most popular way to send money.
Meanwhile, 59% of surveyed people who send money abroad plan to use a purely digital platform, although 41% have used or plan to use a digital method that requires them to go to a physical location such as a bank.
Looking ahead, 39% say their use of digital money transfers will increase.
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