Consumer remittance pricing is one of our central data products. Through this, we are able to determine which countries cost the least to send to across 2023.

2023 has presented a tougher economic climate than previous years for many, however the money transfers space has largely seen a positive year.

In this state of the industry report for 2023, we explore which types of cross-border payments startups have seen the most funding in 2023.

The last few quarters have seen Remitly and Wise begin to overtake WU in digital money transfers revenue, and in Q3 2023 this gap widened significantly.

We review the state of remittances based on the performance of the sector’s publicly traded companies in Q3 2023.

While interest rate rises can see money transfer companies benefit from higher income on assets, they can also incur larger interest expenses on any debts.

LatAm-focused remittances player Intermex continued its growth run in Q3 23, driven by core growth and its La Nacional and i-Transfer acquisitions.

Euronet beat analyst estimates with its first billion-dollar quarter in Q3 23, driven by its money transfer division and a seasonal uplift in ATM transactions.

Many recent developments in Southeast Asia have surrounded remittances, with a mix of players attempting to tap into flows worth billions across the region.