The April 2024 report shows that U.S. consumers sent $1.4 trillion in P2P payments in 2022, with $69.5 billion (5%) sent cross-border, mainly to Mexico, the Philippines, and the U.K. Men are more likely than women to send money internationally, and younger generations lead in usage, with millennials most active in cryptocurrency transfers. Most cross-border payments (88%) are electronic, dominated by Xoom (24%) and Western Union (16%). Trust is critical for 85% of users, and nearly half value having a mobile app, with Gen Z showing the highest demand for mobile-based payment services.

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