Public money transfer providers, with the exception of Western Union, continued to see revenue growth in Q3 2025. Below, we’ve compared historic quarterly growth rates and key drivers across digital providers Remitly and Wise, as well as incumbents Western Union and Euronet (which owns Ria and Xe), to find out what’s driving and impacting the industry this year.
Of the four money transfer providers compared, Remitly continues to see the highest growth in revenue, which rose 25% to $420m in Q3 2025. This was faster than Wise’s comparable Personal segment, which rose 10% to £261m ($352m), and Euronet, which reported 3% growth to $452m. On the other hand, Western Union’s Consumer Money Transfer (CMT) segment saw revenues decline 6% to $878m – though this still makes it the largest C2C provider in terms of revenue, with a significant hold over the market.
While growth persisted across the other three players, the actual rates of growth have been slower during this period compared with Q3 2024, in which Remitly saw 39% growth, Wise grew 18% and Euronet grew by 11%. Euronet and Western Union also said that slowing migration in some regions – in particular with reported recent immigration policies in the US – have contributed to reduced transactions across key corridors.
Mapping out digital money transfer revenues specifically shows how Remitly has continued to widen the gap with Wise and Western Union this year. Remitly continues to see a record number of customers driving up its send volumes as the company continues to gain traction with higher-amount senders. In a recent trading update for H1 2026 (spanning calendar Q2 and Q3 2025), Wise reported customer growth as a core driver for transfers, though the company is increasingly focused on growing its Wise Account product, business volumes and real-time network.
Meanwhile, Western Union noted 7% branded digital revenue growth, driven by 12% transaction growth, with this segment now accounting for 29% of its overall CMT revenues (up from 25% last year). Against a 3% transaction decline for its CMT segment overall, success in digital highlights how empowering these channels through its network will be vital for the company going forward, as it discussed in its recent investor day.
Though Euronet does not break out its digital revenues separately, its direct-to-consumer digital transactions grew 32% YoY and represented around 16% of total money transfer transactions. Euronet’s Executive VP, Chief Accounting Officer & CFO Rick Weller said during the company’s earnings call that digital could eventually grow to account for 30-35% of the business’s transactions, though many customers (particularly less developed countries) will continue to prefer its over-the-counter product. For this reason, CEO Michael Brown added that Euronet wants to make sure that it is still an “omnichannel” player.
