By the numbers: Remittance recipients rely on both digital and in-person avenues to collect their money.

• 44% of remittance senders said their friends or family receive transfers directly to a bank account, per a MoneyGram survey conducted in June 2024.
• 38% said they receive the money in an app or digital wallet.
• And 38% said they receive the remittance at a walk-in location. This share bumps up to 45% for Hispanic remittance recipients.

Why this matters: Digital remittances are growing, but remittance providers also need in-person locations for recipients to collect their money.

A lack of physical touch points could cost money transfer organizations (MTO) payments volume—and hurt customer perception of their brands.

• 39% of remittance customers said they assume a provider that has both digital services and walk-in retail locations is more flexible.
• Another 39% said a provider that offers both is more accessible for the recipient.

Our take: Remittances present a massive volume opportunity for payment providers. We forecast global remittance inflows will reach $901.30 billion in 2025, growing 3.1% YoY.

Digital-only MTOs like PayPal’s Xoom or Wise are quickly growing and eating into this market share. But traditional MTOs that offer both digital and in-person options, like MoneyGram or Western Union, should be able to hold their ground given the share of consumers who still rely on cash-based remittances.

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