The share of digital remittances in money leaving the U.S. for Colombia stayed relatively the same in 2024, with digital options being more common than cash. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels originating from the U.S. towards Colombia. The United States was the number one country of origin for remittances to Colombia, while the Latin American country was the 16th highest likely destination of remittances from the United States. Remittances are, nevertheless, still a relatively uncharted topic. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.
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Share of digitally initiated remittances in the United States and Colombia corridor from 2nd quarter of 2016 to 1st quarter of 2024
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Share of digitally initiated remittances in the United States and Colombia corridor from 2nd quarter of 2016 to 1st quarter of 2024
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Figures are based on the number of remittance channels that exist in a remittance sending and/or receiving country, due to limited information on remittance transactions - be it the value or the number of transactions; From Q3 2024 onwards, the source removed Small World from its tracking - as this company entered administration in July 2024.
Supplementary notes
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.
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Statista. (July 6, 2024). Share of digitally initiated remittances in the United States and Colombia corridor from 2nd quarter of 2016 to 1st quarter of 2024 [Graph]. In Statista. Retrieved July 05, 2025, from https://www.statista.com/statistics/1451180/digital-remittances-share-usa-to-colombia/
Statista. "Share of digitally initiated remittances in the United States and Colombia corridor from 2nd quarter of 2016 to 1st quarter of 2024." Chart. July 6, 2024. Statista. Accessed July 05, 2025. https://www.statista.com/statistics/1451180/digital-remittances-share-usa-to-colombia/
Statista. (2024). Share of digitally initiated remittances in the United States and Colombia corridor from 2nd quarter of 2016 to 1st quarter of 2024. Statista. Statista Inc.. Accessed: July 05, 2025. https://www.statista.com/statistics/1451180/digital-remittances-share-usa-to-colombia/
Statista. "Share of Digitally Initiated Remittances in The United States and Colombia Corridor from 2nd Quarter of 2016 to 1st Quarter of 2024." Statista, Statista Inc., 6 Jul 2024, https://www.statista.com/statistics/1451180/digital-remittances-share-usa-to-colombia/
Statista, Share of digitally initiated remittances in the United States and Colombia corridor from 2nd quarter of 2016 to 1st quarter of 2024 Statista, https://www.statista.com/statistics/1451180/digital-remittances-share-usa-to-colombia/ (last visited July 05, 2025)
Share of digitally initiated remittances in the United States and Colombia corridor from 2nd quarter of 2016 to 1st quarter of 2024 [Graph], Statista, July 6, 2024. [Online]. Available: https://www.statista.com/statistics/1451180/digital-remittances-share-usa-to-colombia/
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