In the United States, approximately 38% of adults use Venmo, the majority of which are from the Millennial and Gen Z groups. The growing popularity of this money transfer app is evident in the staggering total payment volume it registered in the first quarter of 2024—a whopping $69 billion.

With over 10,000 stores worldwide, hundreds of millions of people buy from and interact with Walmart every year. In fact, Walmart is the largest retailer in the world by far. Yet many people don’t know that alongside selling groceries and many other items, Walmart also facilitates money transfers.

With over $857 billion of international bank transfers taking place in 2023, not to mention domestic transfers, the world already supports a vast number of money transfers. Because of this huge demand, a wide range of platforms exist to help you send money wherever you need.

Did you know that more than 90% of consumers now use digital payments for their transactions? It seems that digital payments are now mainstream and embedded in everyday consumer activities and retail transactions.

Millions of migrant workers, families, and businesses send money back home every month. In 2022 alone, $800 billion flowed through the accounts of migrant workers to support their loved ones.