The North America Digital Remittance Market would witness market growth of 15.6% CAGR during the forecast period (2024-2031).
The US market dominated the North America Digital Remittance Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $16,567.5 million by 2031. The Canada market is experiencing a CAGR of 15.8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 16.5% during (2024 - 2031).

The extensive proliferation of smartphones and high-speed internet has significantly expedited the adoption of digital remittance services. With mobile technology becoming more accessible and affordable, even individuals in remote or underbanked regions can now access financial services through mobile wallets and digital payment apps.
Additionally, government and regulatory support is another crucial factor in expanding the digital remittance market. Regulatory frameworks such as open banking policies, Know Your Customer (KYC) compliance, and Anti-Money Laundering (AML) regulations encourage innovation while ensuring digital remittance transactions' security and transparency.
The digital remittance landscape in North America is experiencing significant growth, driven by various factors unique to each nation. The region's well-developed digital infrastructure and substantial expatriate population contribute to the increasing demand for efficient and secure cross-border money transfer services. The United States, hosting one of the world's largest immigrant populations, has seen a substantial rise in digital remittances. According to the World Bank, people in the nation received approximately USD 7.7 billion of personal remittances in 2023. Cross-border transactions are now more accessible and cost-effective due to technological improvements and the broad use of financial technology solutions. Innovations such as blockchain, artificial intelligence (AI), and machine learning have enhanced remittance services' efficiency, security, and speed, making them more attractive to users.
Free Valuable Insights: The Digital Remittance Market is Predict to reach USD 67.37 Billion by 2031, at a CAGR of 16.2%
Based on Type, the market is segmented into Outward, and Inward. Based on Channel, the market is segmented into Money Transfer Operators, Banks, Online Platforms, and Other Channel. Based on End Use, the market is segmented into Personal, Small Businesses, Migrant Labor Workforce, and Other End Use. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Papaya Global Ltd.
- Digital Wallet Corporation
- WorldRemit Ltd.
- Nium Pte. Ltd.
- MoneyGram Payment Systems Inc.
- PayPal Holdings, Inc.
- Ria Financial Services Ltd.
- TransferGo Ltd.
- TransferWise Ltd.
- Western Union Holdings, Inc.
North America Digital Remittance Market Report Segmentation
By Type
By Channel
- Money Transfer Operators
- Banks
- Online Platforms
- Other Channel
By End Use
- Personal
- Small Businesses
- Migrant Labor Workforce
- Other End Use
By Country
- US
- Canada
- Mexico
- Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Digital Remittance Market, by Type
1.4.2 North America Digital Remittance Market, by Channel
1.4.3 North America Digital Remittance Market, by End Use
1.4.4 North America Digital Remittance Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Top Winning Strategies
4.3.1 Key Leading Strategies: Percentage Distribution (2020-2024)
4.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2024, Apr – 2025, Jan) Leading Players
4.4 Porter Five Forces Analysis
Chapter 5. North America Digital Remittance Market by Type
5.1 North America Outward Market by Country
5.2 North America Inward Market by Country
Chapter 6. North America Digital Remittance Market by Channel
6.1 North America Money Transfer Operators Market by Country
6.2 North America Banks Market by Country
6.3 North America Online Platforms Market by Country
6.4 North America Other Channel Market by Country
Chapter 7. North America Digital Remittance Market by End Use
7.1 North America Personal Market by Country
7.2 North America Small Businesses Market by Country
7.3 North America Migrant Labor Workforce Market by Country
7.4 North America Other End Use Market by Country
Chapter 8. North America Digital Remittance Market by Country
8.1 US Digital Remittance Market
8.1.1 US Digital Remittance Market by Type
8.1.2 US Digital Remittance Market by Channel
8.1.3 US Digital Remittance Market by End Use
8.2 Canada Digital Remittance Market
8.2.1 Canada Digital Remittance Market by Type
8.2.2 Canada Digital Remittance Market by Channel
8.2.3 Canada Digital Remittance Market by End Use
8.3 Mexico Digital Remittance Market
8.3.1 Mexico Digital Remittance Market by Type
8.3.2 Mexico Digital Remittance Market by Channel
8.3.3 Mexico Digital Remittance Market by End Use
8.4 Rest of North America Digital Remittance Market
8.4.1 Rest of North America Digital Remittance Market by Type
8.4.2 Rest of North America Digital Remittance Market by Channel
8.4.3 Rest of North America Digital Remittance Market by End Use
Chapter 9. Company Profiles
9.1 Papaya Global Ltd.
9.1.1 Company Overview
9.1.2 Recent strategies and developments:
9.1.2.1 Product Launches and Product Expansions:
9.1.2.2 Acquisition and Mergers:
9.2 Digital Wallet Corporation
9.2.1 Company Overview
9.2.2 Recent strategies and developments:
9.2.2.1 Product Launches and Product Expansions:
9.2.2.2 Acquisition and Mergers:
9.3 WorldRemit Ltd.
9.3.1 Company Overview
9.3.2 Recent strategies and developments:
9.3.2.1 Acquisition and Mergers:
9.4 Nium Pte. Ltd.
9.4.1 Company Overview
9.4.2 Recent strategies and developments:
9.4.2.1 Product Launches and Product Expansions:
9.4.2.2 Acquisition and Mergers:
9.5 MoneyGram Payment Systems Inc.
9.5.1 Company Overview
9.5.2 Recent strategies and developments:
9.5.2.1 Partnerships, Collaborations, and Agreements:
9.6 PayPal Holdings, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Regional Analysis
9.6.4 Research & Development Expenses
9.6.5 Recent strategies and developments:
9.6.5.1 Product Launches and Product Expansions:
9.7 Ria Financial Services Ltd.
9.7.1 Company Overview
9.7.2 Recent strategies and developments:
9.7.2.1 Partnerships, Collaborations, and Agreements:
9.7.2.2 Acquisition and Mergers:
9.8 TransferGo Ltd.
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Partnerships, Collaborations, and Agreements:
9.9 TransferWise Ltd.
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Regional Analysis
9.10. Western Union Holdings, Inc.
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental and Regional Analysis
9.10.4 Recent strategies and developments:
9.10.4.1 Partnerships, Collaborations, and Agreements:
TABLE 1 North America Digital Remittance Market, 2020 - 2023, USD Million
TABLE 2 North America Digital Remittance Market, 2024 - 2031, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Digital Remittance Market
TABLE 4 Product Launches And Product Expansions– Digital Remittance Market
TABLE 5 Acquisition and Mergers– Digital Remittance Market
TABLE 6 North America Digital Remittance Market by Type, 2020 - 2023, USD Million
TABLE 7 North America Digital Remittance Market by Type, 2024 - 2031, USD Million
TABLE 8 North America Outward Market by Country, 2020 - 2023, USD Million
TABLE 9 North America Outward Market by Country, 2024 - 2031, USD Million
TABLE 10 North America Inward Market by Country, 2020 - 2023, USD Million
TABLE 11 North America Inward Market by Country, 2024 - 2031, USD Million
TABLE 12 North America Digital Remittance Market by Channel, 2020 - 2023, USD Million
TABLE 13 North America Digital Remittance Market by Channel, 2024 - 2031, USD Million
TABLE 14 North America Money Transfer Operators Market by Country, 2020 - 2023, USD Million
TABLE 15 North America Money Transfer Operators Market by Country, 2024 - 2031, USD Million
TABLE 16 North America Banks Market by Country, 2020 - 2023, USD Million
TABLE 17 North America Banks Market by Country, 2024 - 2031, USD Million
TABLE 18 North America Online Platforms Market by Country, 2020 - 2023, USD Million
TABLE 19 North America Online Platforms Market by Country, 2024 - 2031, USD Million
TABLE 20 North America Other Channel Market by Country, 2020 - 2023, USD Million
TABLE 21 North America Other Channel Market by Country, 2024 - 2031, USD Million
TABLE 22 North America Digital Remittance Market by End Use, 2020 - 2023, USD Million
TABLE 23 North America Digital Remittance Market by End Use, 2024 - 2031, USD Million
TABLE 24 North America Personal Market by Country, 2020 - 2023, USD Million
TABLE 25 North America Personal Market by Country, 2024 - 2031, USD Million
TABLE 26 North America Small Businesses Market by Country, 2020 - 2023, USD Million
TABLE 27 North America Small Businesses Market by Country, 2024 - 2031, USD Million
TABLE 28 North America Migrant Labor Workforce Market by Country, 2020 - 2023, USD Million
TABLE 29 North America Migrant Labor Workforce Market by Country, 2024 - 2031, USD Million
TABLE 30 North America Other End Use Market by Country, 2020 - 2023, USD Million
TABLE 31 North America Other End Use Market by Country, 2024 - 2031, USD Million
TABLE 32 North America Digital Remittance Market by Country, 2020 - 2023, USD Million
TABLE 33 North America Digital Remittance Market by Country, 2024 - 2031, USD Million
TABLE 34 US Digital Remittance Market, 2020 - 2023, USD Million
TABLE 35 US Digital Remittance Market, 2024 - 2031, USD Million
TABLE 36 US Digital Remittance Market by Type, 2020 - 2023, USD Million
TABLE 37 US Digital Remittance Market by Type, 2024 - 2031, USD Million
TABLE 38 US Digital Remittance Market by Channel, 2020 - 2023, USD Million
TABLE 39 US Digital Remittance Market by Channel, 2024 - 2031, USD Million
TABLE 40 US Digital Remittance Market by End Use, 2020 - 2023, USD Million
TABLE 41 US Digital Remittance Market by End Use, 2024 - 2031, USD Million
TABLE 42 Canada Digital Remittance Market, 2020 - 2023, USD Million
TABLE 43 Canada Digital Remittance Market, 2024 - 2031, USD Million
TABLE 44 Canada Digital Remittance Market by Type, 2020 - 2023, USD Million
TABLE 45 Canada Digital Remittance Market by Type, 2024 - 2031, USD Million
TABLE 46 Canada Digital Remittance Market by Channel, 2020 - 2023, USD Million
TABLE 47 Canada Digital Remittance Market by Channel, 2024 - 2031, USD Million
TABLE 48 Canada Digital Remittance Market by End Use, 2020 - 2023, USD Million
TABLE 49 Canada Digital Remittance Market by End Use, 2024 - 2031, USD Million
TABLE 50 Mexico Digital Remittance Market, 2020 - 2023, USD Million
TABLE 51 Mexico Digital Remittance Market, 2024 - 2031, USD Million
TABLE 52 Mexico Digital Remittance Market by Type, 2020 - 2023, USD Million
TABLE 53 Mexico Digital Remittance Market by Type, 2024 - 2031, USD Million
TABLE 54 Mexico Digital Remittance Market by Channel, 2020 - 2023, USD Million
TABLE 55 Mexico Digital Remittance Market by Channel, 2024 - 2031, USD Million
TABLE 56 Mexico Digital Remittance Market by End Use, 2020 - 2023, USD Million
TABLE 57 Mexico Digital Remittance Market by End Use, 2024 - 2031, USD Million
TABLE 58 Rest of North America Digital Remittance Market, 2020 - 2023, USD Million
TABLE 59 Rest of North America Digital Remittance Market, 2024 - 2031, USD Million
TABLE 60 Rest of North America Digital Remittance Market by Type, 2020 - 2023, USD Million
TABLE 61 Rest of North America Digital Remittance Market by Type, 2024 - 2031, USD Million
TABLE 62 Rest of North America Digital Remittance Market by Channel, 2020 - 2023, USD Million
TABLE 63 Rest of North America Digital Remittance Market by Channel, 2024 - 2031, USD Million
TABLE 64 Rest of North America Digital Remittance Market by End Use, 2020 - 2023, USD Million
TABLE 65 Rest of North America Digital Remittance Market by End Use, 2024 - 2031, USD Million
TABLE 66 Key Information – Papaya Global Ltd.
TABLE 67 Key Information – Digital Wallet Corporation
TABLE 68 Key Information – WorldRemit Ltd.
TABLE 69 Key Information – Nium Pte. Ltd.
TABLE 70 Key Information – MoneyGram Payment Systems Inc.
TABLE 71 Key Information – PayPal Holdings, Inc.
TABLE 72 Key Information – Ria Financial Services Ltd.
TABLE 73 Key Information – TransferGo Ltd.
TABLE 74 Key Information – TransferWise Ltd.
TABLE 75 Key Information – Western Union Holdings, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Digital Remittance Market, 2020 - 2031, USD Million
FIG 3 Key Factors Impacting Digital Remittance Market
FIG 4 KBV Cardinal Matrix
FIG 5 Key Leading Strategies: Percentage Distribution (2020-2024)
FIG 6 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2024, Apr – 2025, Jan) Leading Players
FIG 7 Porter’s Five Forces Analysis – Digital Remittance Market
FIG 8 North America Digital Remittance Market share by Type, 2023
FIG 9 North America Digital Remittance Market share by Type, 2031
FIG 10 North America Digital Remittance Market by Type, 2020 - 2031, USD Million
FIG 11 North America Digital Remittance Market share by Channel, 2023
FIG 12 North America Digital Remittance Market share by Channel, 2031
FIG 13 North America Digital Remittance Market by Channel, 2020 - 2031, USD Million
FIG 14 North America Digital Remittance Market share by End Use, 2023
FIG 15 North America Digital Remittance Market share by End Use, 2031
FIG 16 North America Digital Remittance Market by End Use, 2020 - 2031, USD Million
FIG 17 North America Digital Remittance Market share by Country, 2023
FIG 18 North America Digital Remittance Market share by Country, 2031
FIG 19 North America Digital Remittance Market by Country, 2020 - 2031, USD Million
FIG 20 Recent strategies and developments: Papaya Global Ltd.
FIG 21 Recent strategies and developments: Digital Wallet Corporation
FIG 22 Recent strategies and developments: Nium Pte. Ltd.
FIG 23 Recent strategies and developments: Ria Financial Services Ltd.