Remittances in Asia-Pacific are undergoing a major transformation as digital transfers outpace traditional cash-based methods, according to Visa’s latest Money Travels 2025 Remittances Report. The study reveals that consumers are increasingly favoring speed, security, and convenience when sending money across borders.
The report underscores a significant trend: digital remittances in Asia-Pacific are projected to grow steadily, driven by mobile-first economies and rising migrant populations. Visa notes that more than 60% of surveyed consumers now prefer digital channels over cash agents, marking a pivotal shift in the region’s financial behavior.
Key Findings from the Report
- Digital adoption: Over 70% of respondents cited speed and reliability as top reasons for choosing digital transfers.
- Cross-border flows: Asia-Pacific remains one of the largest remittance corridors globally, with billions flowing annually to support families and businesses.
- Security concerns: While digital channels dominate, trust and transparency remain critical for sustained adoption.
Rhidoi Krishnakumar, Vice President and Head of Visa Direct, Asia Pacific, emphasized the importance of innovation in this space, “Consumers expect fast, secure, and transparent ways to send money, and digital solutions are meeting that demand at scale.”
Why It Matters
The surge in digital remittances in Asia-Pacific signals a broader financial inclusion movement, enabling millions to access safer and faster payment options. With Visa and other players investing in real-time payment infrastructure, the region is poised for continued growth in cross-border transactions.
Guest ideas:
Rhidoi Krishnakumar
Vice President and Head of Visa Direct for Asia Pacific
VISA
Rhidoi Krishnakumar is Vice President and Head of Visa Direct for Asia Pacific at Visa. In this role, he leads the strategy and execution of real-time money movement solutions across the region, enabling secure and seamless transfers for individuals and businesses.
With over two decades of experience in financial markets and transaction banking, Krishnakumar has built a career spanning cross-border payments, FX solutions, and digital banking innovation. Before joining Visa, he held senior leadership roles at DBS Bank and Standard Chartered, where he drove product development and business growth in payments and remittances. His expertise lies in building scalable payment ecosystems and fostering financial inclusion.
More stories: SC targets Finfluencer accountability to safeguard capital market integrity