Number of users in the digital remittances segment of the fintech market Saudi Arabia 2017-2025

The number of users in the 'Digital Remittances' segment of the fintech market in Saudi Arabia was forecast to continuously increase between 2024 and 2025 by in total 84.3 thousand users (+7.92 percent). After the eighth consecutive increasing year, the indicator is estimated to reach 1.1 million users and therefore a new peak in 2025. Notably, the number of users of the 'Digital Remittances' segment of the fintech market was continuously increasing over the past years.

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Number of users in the digital remittances segment of the fintech market Saudi Arabia from 2017 to 2025 (in thousand individuals)

Characteristic	In thousand individuals
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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:

Digital Remittances refer to the electronic transfer of money from one person or entity to another, typically across international borders. The transfers are made via online platforms, mobile apps, and other digital channels that allow individuals to send and receive money quickly and securely. The target users of these services are usually migrant population. Remittances in general include periodic fund transfers between residents and non-residents and earnings transfer from short-time workers from other countries to their country of origin. Digital remittances are becoming more and more popular due to their convenience, cost-effectiveness, and speed when compared to traditional methods such as wire transfers. Additionally, digital remittances can also provide increased transparency and security, as well as the ability to track transactions in real-time.

Additional Information:

Key players in this are market Wise, Remitly and Xoom.

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