Prime Highlight
- Nearly two-thirds of people in the UAE now use digital apps for remittances, citing ease of use, safety, and faster transactions.
- The UAE is the world’s third-largest sender of remittances, with transaction values projected to reach $6.59 billion by 2030.
Key Facts
- Around 95% of UAE residents send remittances at least once a year, mainly to support family or humanitarian needs.
- High fees remain a challenge, with 32% of senders and 27% of receivers saying costs are a barrier.
Background
A new report from Visa reveals that nearly two out of three people in the UAE now prefer using digital applications for sending remittances instead of visiting physical locations. The findings were part of Visa’s Money Travels: 2025 Digital Remittances Adoption Report, released on Wednesday.
The study has shown that 50% of respondents use digital apps as they are easy to utilize. In the meantime, 46% stated that they had chosen it due to safety, privacy, and faster transactions. The role of remittances is crucial to the UAE, and 49% of the population sends money to help family or humanitarianly, and 48% to offer regular assistance. Approximately 95% of senders remit money at least once a year.
The UAE stands as the world’s third-largest sender of remittances, with total transaction values expected to grow by nearly 17 percent annually, reaching $6.59 billion by 2030, according to Statista.
Despite the rise in digital transfers, high fees continue to be a major problem. Thirty-two percent of people said costs are a barrier when sending money, and 27 percent said the same when receiving.
Salima Gutieva, Visa’s VP and Country Manager for the UAE, said, “Digital payments are becoming key for people who support their families globally. We work with financial partners to offer faster and safer international transfers.”
Visa is expanding services such as Visa Direct, which allows real-time transfers to cards, bank accounts, and digital wallets, and Visa+, which enables transfers using just a mobile number.
The same trend is being witnessed in Saudi Arabia, where 59% now prefer digital remittances. There is a problem of high fees as well, with 29% of senders and 33% of receivers mentioning it.
The report surveyed around 44,000 remittance senders and receivers in 20 countries on January 2- 30, 2025.
