Visa Money Travels Digital Remittances Report: Close to nine in 10 Singapore residents send remittances at least once a year - Thailand PR News - [Banking](https://thailandbusinessnews.net/category/banking/) - [Companies](https://thailandbusinessnews.net/category/companies/) - [Economy](https://thailandbusinessnews.net/category/economy/) - [Press Releases](https://thailandbusinessnews.net/category/press-release/) - [PR Newswire](https://thailandbusinessnews.net/pr-newswire-updates/) - [Tech](https://thailandbusinessnews.net/category/tech/) - [Tourism](https://thailandbusinessnews.net/category/tourism/) - [Press Release](https://thailandbusinessnews.net/category/press-release/) # Visa Money Travels Digital Remittances Report: Close to nine in 10 Singapore residents send remittances at least once a year ##### Up next ![ARKANCE OPEN AUSTRALIAN HEADQUARTERS AS PART OF GLOBAL EXPANSION INTO 19 COUNTRIES WORLDWIDE](https://i0.wp.com/thailandbusinessnews.net/wp-content/uploads/2024/07/ARKANCE_Australian_Heaquarters_Opening.jpg?resize=200%2C110&ssl=1 "ARKANCE OPEN AUSTRALIAN HEADQUARTERS AS PART OF GLOBAL EXPANSION INTO 19 COUNTRIES WORLDWIDE") [](https://thailandbusinessnews.net/press-release/arkance-open-australian-headquarters-as-part-of-global-expansion-into-19-countries-worldwide/) ###### [ARKANCE OPEN AUSTRALIAN HEADQUARTERS AS PART OF GLOBAL EXPANSION INTO 19 COUNTRIES WORLDWIDE](https://thailandbusinessnews.net/press-release/arkance-open-australian-headquarters-as-part-of-global-expansion-into-19-countries-worldwide/) Published on 10 July 2024 ##### Author ##### [ CISION PRNewswire ](https://thailandbusinessnews.net/author/cision/) ##### Tags - [PRNewswire](https://thailandbusinessnews.net/tag/prnewswire/) ![](https://mma.prnasia.com/media2/1996331/Visa_Logo.jpg?p=medium600 "logo") SINGAPORE, July 10, 2024 /PRNewswire/ — Visa, a world leader in digital payments, has released the results of its Money Travels: 2024 Digital Remittances Adoption Report, with 86 per cent of Singapore residents sending or receiving money at least once a year, and digital apps is their preferred remittance method. The Money Travels: 2024 Digital Remittances Adoption Report examines how consumers send money abroad, diving into the rates, methods, and reasons for sending and receiving payments across 20 markets globally. The survey included 2500 Singapore respondents. In Asia Pacific, Visa saw a two-fold increase in digital remittances over the last two years, highlighting the accelerated pace and clients’ demand at which remittance flows are increasing in the region. Singapore is one of the three markets for Asia Pacific in terms of frequency of sending remittances, behind China (99%) and on par with India. In terms of value of remittances, half (51%) of Singapore residents have sent S$1,500 or more to another country in 2023. Singapore is also one of the top markets when it comes to intention on sending more or the same amount of money abroad. Two-thirds (66%) of Singapore remittance users plan on sending more or the same amount of money abroad, behind China (91%) and India (74%). The top three destinations receiving remittances from Singapore are Mainland China (18%), Australia (13%) and Canada (11%). Other popular destinations for sending remittances in the region are Malaysia (11%) and Japan (9%). Regular remittances (31%), unexpected need (26%), and investments (26%) are the top drivers for sending money overseas. The top three reasons given for receiving remittances are own accounts/investments (38%); special occasions (33%) and holidays (27%). Across the region, digital apps were universally lauded for superior user experiences underscored by accessibility. Markets such as India, the Philippines, and Singapore exceeded global averages (67%), for digital app preference. Over two-thirds (69%) of Singapore respondents prefer digital apps to send money, and four in 10 respondents plan to use apps to send money more often. Security continues to be a key differentiator for payment methods, with digital methods cited as the most secure method for both sending and receiving. Sending money by cheque or cash was perceived as the least secure, especially when sent by mail or courier. "Remittances are particularly prevalent in Singapore, due to our position as a regional hub. Our large foreign workforce and the diverse financial transactions characteristic of our market also support the growth of international money movement from Singapore," said Adeline Kim, Country Manager of Singapore and Brunei. "We’re seeing some interesting trends when it comes to money movement on the remittance front. Besides the foreign workforce sending back money to their families, we are also seeing growth in the creator economy, where money is paid from social platforms to content creators. At Visa, we harness our extensive transaction data to drive innovations that cater specifically to the needs in the money movement industry. Our primary goal is streamline and secure the remittance process, be it topping up a digital wallet, sending money to loved ones or money transfers for business purposes." Visa works in collaboration with global remitters such as Brightwell, Thunes, Remitly, Western Union and Asia United Bank (AUB) to help enable efficient money movement through digitised remittances, leveraging our Visa Direct solution. For more information about Visa Direct, please visit: [www.visa.com.sg](http://www.visa.com.sg/) Survey MethodologyThis survey was conducted by Morning Consult during December 2023 to March 2024 with a sample size of 40,000+ remittance senders and receivers across North America, Europe, Latin America, the Middle East, and Asia Pacific. The interviews were conducted online and includes 2,500 Singapore respondents who are weighted based on census estimates for age, race/ethnicity, gender, education and region. About VisaVisa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at [www.visa.com.sg](http://www.visa.com.sg/) [Source link ](https://www.prnasia.com/story/archive/4458288_AE58288_0?rand=89749) ``` This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network ``` ##### You May Also Like [](https://thailandbusinessnews.net/press-release/farmdar-secures-strategic-investment-from-asian-development-bank-to-scale-ai-for-agriculture-across-emerging-asia/) ![Farmdar Secures Strategic Investment from Asian Development Bank to Scale AI for Agriculture Across Emerging Asia.](https://i0.wp.com/thailandbusinessnews.net/wp-content/uploads/2025/11/1762738015_1.jpg?resize=260%2C140&ssl=1 "Farmdar Secures Strategic Investment from Asian Development Bank to Scale AI for Agriculture Across Emerging Asia.") - [Banking](https://thailandbusinessnews.net/category/banking/) - [Press Release](https://thailandbusinessnews.net/category/press-release/) ## Farmdar Secures Strategic Investment from Asian Development Bank to Scale AI for Agriculture Across Emerging Asia. SINGAPORE, Nov. 10, 2025 /PRNewswire/ — Farmdar, an agritech company that uses… - [CISION PRNewswire](https://thailandbusinessnews.net/author/cision/ "View all posts by CISION PRNewswire") - November 10, 2025 [](https://thailandbusinessnews.net/press-release/hesai-selected-as-exclusive-short-range-lidar-supplier-for-motionals-all-electric-ioniq-5-robotaxi/) ![Hesai Selected as Exclusive Short-Range Lidar Supplier for Motional's All-Electric IONIQ 5 Robotaxi](https://i0.wp.com/thailandbusinessnews.net/wp-content/uploads/2025/09/Motional_s_robotaxi_carrying_Hesai_s_lidar.jpg?resize=260%2C140&ssl=1 "Hesai Selected as Exclusive Short-Range Lidar Supplier for Motional's All-Electric IONIQ 5 Robotaxi") - [Press Release](https://thailandbusinessnews.net/category/press-release/) ## Hesai Selected as Exclusive Short-Range Lidar Supplier for Motional's All-Electric IONIQ 5 Robotaxi PALO ALTO, Calif., Sept. 4, 2025 /PRNewswire/ — Hesai Technology (Nasdaq: HSAI),… - [CISION PRNewswire](https://thailandbusinessnews.net/author/cision/ "View all posts by CISION PRNewswire") - September 4, 2025 [](https://thailandbusinessnews.net/press-release/lockton-expands-into-saudi-arabia-appoints-mohammad-al-abdul-jabbar-as-retail-ceo/) ![Lockton Expands into Saudi Arabia, Appoints Mohammad Al Abdul Jabbar as Retail CEO](https://i0.wp.com/thailandbusinessnews.net/wp-content/uploads/2025/11/Lockton_Mohammad_Al_Abdul_Jabbar.jpg?resize=260%2C140&ssl=1 "Lockton Expands into Saudi Arabia, Appoints Mohammad Al Abdul Jabbar as Retail CEO") - [Press Release](https://thailandbusinessnews.net/category/press-release/) ## Lockton Expands into Saudi Arabia, Appoints Mohammad Al Abdul Jabbar as Retail CEO KANSAS CITY, Mo., Nov. 11, 2025 /PRNewswire/ — Lockton, the world’s largest… - [CISION PRNewswire](https://thailandbusinessnews.net/author/cision/ "View all posts by CISION PRNewswire") - November 11, 2025 ##### Most Read - [![CMC REIT Steadily Advances Strategic Transformation in 2026 Interim Results](https://secure.gravatar.com/avatar/96e712b5408b51145de772098c3ff3417ce8a11555b7c388d84204c5769f5631?s=40&d=blank&r=g)](https://thailandbusinessnews.net/press-release/cmc-reit-steadily-advances-strategic-transformation-in-2026-interim-results/ "CMC REIT Steadily Advances Strategic Transformation in 2026 Interim Results") [CMC REIT Steadily Advances Strategic Transformation in 2026 Interim Results](https://thailandbusinessnews.net/press-release/cmc-reit-steadily-advances-strategic-transformation-in-2026-interim-results/ "CMC REIT Steadily Advances Strategic Transformation in 2026 Interim Results") - [![UOB Poll Finds SMEs Keen on AI but Struggle to Move Beyond Pilot Stage](https://secure.gravatar.com/avatar/96e712b5408b51145de772098c3ff3417ce8a11555b7c388d84204c5769f5631?s=40&d=blank&r=g)](https://thailandbusinessnews.net/press-release/uob-poll-finds-smes-keen-on-ai-but-struggle-to-move-beyond-pilot-stage/ "UOB Poll Finds SMEs Keen on AI but Struggle to Move Beyond Pilot Stage") [UOB Poll Finds SMEs Keen on AI but Struggle to Move Beyond Pilot Stage](https://thailandbusinessnews.net/press-release/uob-poll-finds-smes-keen-on-ai-but-struggle-to-move-beyond-pilot-stage/ "UOB Poll Finds SMEs Keen on AI but Struggle to Move Beyond Pilot Stage") - [![Joget Introduces Agent Lab, a Program Helping Businesses Build AI Agents Without Code](https://secure.gravatar.com/avatar/96e712b5408b51145de772098c3ff3417ce8a11555b7c388d84204c5769f5631?s=40&d=blank&r=g)](https://thailandbusinessnews.net/press-release/joget-introduces-agent-lab-a-program-helping-businesses-build-ai-agents-without-code/ "Joget Introduces Agent Lab, a Program Helping Businesses Build AI Agents Without Code") [Joget Introduces Agent Lab, a Program Helping Businesses Build AI Agents Without Code](https://thailandbusinessnews.net/press-release/joget-introduces-agent-lab-a-program-helping-businesses-build-ai-agents-without-code/ "Joget Introduces Agent Lab, a Program Helping Businesses Build AI Agents Without Code") - [![wan AIChef ultra Launches on Indiegogo: The World's First AI Chef That Sees, Thinks & Cooks -- Powered by NVIDIA](https://secure.gravatar.com/avatar/96e712b5408b51145de772098c3ff3417ce8a11555b7c388d84204c5769f5631?s=40&d=blank&r=g)](https://thailandbusinessnews.net/press-release/wan-aichef-ultra-launches-on-indiegogo-the-worlds-first-ai-chef-that-sees-thinks-cooks-powered-by-nvidia/ "wan AIChef ultra Launches on Indiegogo: The World's First AI Chef That Sees, Thinks & Cooks -- Powered by NVIDIA") [wan AIChef ultra Launches on Indiegogo: The World's First AI Chef That Sees, Thinks & Cooks -- Powered by NVIDIA](https://thailandbusinessnews.net/press-release/wan-aichef-ultra-launches-on-indiegogo-the-worlds-first-ai-chef-that-sees-thinks-cooks-powered-by-nvidia/ "wan AIChef ultra Launches on Indiegogo: The World's First AI Chef That Sees, Thinks & Cooks -- Powered by NVIDIA") - [![Akeso 2026 Interim Results: Strong Commercialization Momentum; IO2.0+ Global Strategy Redefining Clinical Standards; Bispecific Advancement in ADC, I&I and Alzheimer's](https://secure.gravatar.com/avatar/96e712b5408b51145de772098c3ff3417ce8a11555b7c388d84204c5769f5631?s=40&d=blank&r=g)](https://thailandbusinessnews.net/press-release/akeso-2026-interim-results-strong-commercialization-momentum-io2-0-global-strategy-redefining-clinical-standards-bispecific-advancement-in-adc-ii-and-alzheimers/ "Akeso 2026 Interim Results: Strong Commercialization Momentum; IO2.0+ Global Strategy Redefining Clinical Standards; Bispecific Advancement in ADC, I&I and Alzheimer's") [Akeso 2026 Interim Results: Strong Commercialization Momentum; IO2.0+ Global Strategy Redefining Clinical Standards; Bispecific Advancement in ADC, I&I and Alzheimer's](https://thailandbusinessnews.net/press-release/akeso-2026-interim-results-strong-commercialization-momentum-io2-0-global-strategy-redefining-clinical-standards-bispecific-advancement-in-adc-ii-and-alzheimers/ "Akeso 2026 Interim Results: Strong Commercialization Momentum; IO2.0+ Global Strategy Redefining Clinical Standards; Bispecific Advancement in ADC, I&I and Alzheimer's") - [![Russell Reynolds Associates Announces Nick Fletcher as Australia Country Leader](https://secure.gravatar.com/avatar/96e712b5408b51145de772098c3ff3417ce8a11555b7c388d84204c5769f5631?s=40&d=blank&r=g)](https://thailandbusinessnews.net/press-release/russell-reynolds-associates-announces-nick-fletcher-as-australia-country-leader/ "Russell Reynolds Associates Announces Nick Fletcher as Australia Country Leader") [Russell Reynolds Associates Announces Nick Fletcher as Australia Country Leader](https://thailandbusinessnews.net/press-release/russell-reynolds-associates-announces-nick-fletcher-as-australia-country-leader/ "Russell Reynolds Associates Announces Nick Fletcher as Australia Country Leader") ##### Subscribe via Email Enter your email address to subscribe and receive notifications of new posts by email. Email Address Subscribe [](https://thailandbusinessnews.net/press-release/fireblocks-sets-sights-on-next-phase-of-tokenization-nyse-content-update/) ![Fireblocks Sets Sights on Next Phase of Tokenization: NYSE Content Update](https://i0.wp.com/mmx.prnasia.com/media/MS1977542/NYSE-Texas-Grand-Opening.jpg?resize=260%2C140&ssl=1 "Fireblocks Sets Sights on Next Phase of Tokenization: NYSE Content Update") ## Fireblocks Sets Sights on Next Phase of Tokenization: NYSE Content Update NYSE issues a pre-market daily advisory direct from the trading floor. NEW… [](https://thailandbusinessnews.net/press-release/superx-secures-first-batch-of-128-units-of-nvidia-b300-ai-server-purchase-order-from-ezisight-marking-its-official-entry-into-the-australian-market/) ## SuperX Secures First Batch of 128 Units of NVIDIA B300 AI Server Purchase Order from Ezisight, Marking Its Official Entry into the Australian Market SINGAPORE, Aug. 28, 2026 /PRNewswire/ — SuperX AI Technology Limited (NASDAQ:… [](https://thailandbusinessnews.net/press-release/global-tier-1-yfore-rolls-off-first-u-s-built-digital-key/) ![Global Tier-1 YFORE Rolls Off First U.S.-Built Digital Key](https://i0.wp.com/mmx.prnasia.com/media/MS1977481/20260828055926EDT_image_1.jpg?resize=260%2C140&ssl=1 "Global Tier-1 YFORE Rolls Off First U.S.-Built Digital Key") ## Global Tier-1 YFORE Rolls Off First U.S.-Built Digital Key SUWANEE, Ga., Aug. 28, 2026 /PRNewswire/ — YFORE Technology officially rolled off… [](https://thailandbusinessnews.net/press-release/smallrig-technology-announces-completion-of-acquisition-of-selected-assets-of-kelvin-group/) ![SmallRig Technology Announces Completion of Acquisition of Selected Assets of Kelvin Group](https://i0.wp.com/mmx.prnasia.com/media/MS1977001/20260827094629EDT_image_1.jpg?resize=260%2C140&ssl=1 "SmallRig Technology Announces Completion of Acquisition of Selected Assets of Kelvin Group") ## SmallRig Technology Announces Completion of Acquisition of Selected Assets of Kelvin Group SHENZHEN, China and OSLO, Norway, Aug. 28, 2026 /PRNewswire/ — SmallRig…