Digital remittances

Digital remittances refer to transferring money electronically from one person to another across borders, typically using online platforms or mobile apps. Unlike traditional methods like sending cash or using bank wires, digital remittances are faster, more convenient, and often cost less. They allow workers living abroad to send earnings back home directly to family members’ mobile wallets, bank accounts, or digital payment systems. This technology improves financial access, reduces transaction times, and minimizes physical risks associated with cash handling. Overall, digital remittances streamline international money transfers, making them more efficient and accessible for users worldwide.