A cross-border person-to-person payment of relatively low value. In practice, the transfers are typically recurrent payments by migrant workers, who often send money to their families in their home country every month. In the report, the term “remittance” is used for simplicity. Therefore, it is assumed the transfer is international.

Remittances sent or received either online, via mobile or app. A digital remittance payment may not involve the use of cash. Instead, funds are sent from a bank account or e-wallet. Note that digital remittance payments may be digital at one end (the sending or receiving end) but cash-based at the other, or digital at both ends.