SAN FRANCISCO—Consumers are increasingly turning to digital payments to send money around the world, a new study reveals.
The report from Visa shows that almost a quarter (23%) of surveyed U.S. adults have sent money from the U.S. to another country and nearly two-thirds (65%) of those remittance users plan to send money to another country to celebrate the holiday season, The Paypers reported.
Digital remittances are the preferred method, with digital-only transactions already being the most popular and a majority (59%) of the remittance users surveyed saying they have sent or plan to send money using digital-only platforms.
Globally, it is estimated that 800 million people receive money from family or friends to pay for food, utilities and education, The Paypers added.
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