Quarterly market share of outgoing digital remittances in Spain 2016-2024

The figures provided have been calculated by Statista based off the Remittance Prices Worldwide from the World Bank and a methodology shared in a report from the OMFIF. This source reports the remittance channels that exist in a remittance sending and/or receiving country. The figures are shown are therefore not based off the number of remittances or the transaction value of remittances.

The categorization originally stems from a graphic made by Visa's VEEI, which was quoted in the aforementioned report from the OMFIF. Statista continued said categorization. The categories indicate the following: 

• Traditionally initiated: The payment instrument that initiates the remittance involves either cash or a bank account, while the pickup method can be anything;
• Digitally initiated: The payment instrument that initiates the remittance is either a credit/debit/prepaid card, or another digital method that is not a bank account. However, the pickup method only involves cash;
• Digital end-to-end: The payment instrument that initiates the remittance is either a credit/debit/prepaid card, or another digital method that is not a bank account. However, the pickup method involves either a bank account or other cashless payment instruments. 

Missing percentage points to 100 percent are probably due to rounding.

The World Bank launched a work group in 2023 to standardize remittance data in the future and better map out the topic. This includes an attempt at providing more detailed remittance flow information. The initial results of this work group are expected in the second half of 2024. More information can be found here.