Imagine sending money to your family overseas in just a few taps — no long bank queues, no hidden charges, and instant delivery. That’s what Remitly makes possible.
Founded in 2011 by Matt Oppenheimer and Josh Hug, Remitly has become one of the world’s leading digital remittance platforms, helping millions of people send money across borders safely and instantly.
In 2025, Remitly operates in over 170 countries, supporting 100+ currencies, and serves more than 6 million active customers. It’s known for its fast transfers, transparent fees, and reliable mobile-first experience — especially for international workers sending money home.
By the end of this guide, you’ll understand what Remitly is, how it works, its business model, and how you can build your own Remitly-like money transfer platform using Miracuves’ proven fintech clone technology.
What is Remitly?
Remitly is a digital money transfer platform that enables users to send funds internationally quickly, securely, and affordably. It connects people living abroad with their families back home — allowing transfers directly to bank accounts, cash pickup locations, or mobile wallets.
The core problem Remitly solves is the slow and expensive nature of traditional remittance services. Conventional banks and agencies often take days to complete transfers and charge high fees. Remitly disrupted this model with a mobile-first platform that offers real-time transfer tracking, low costs, and fast delivery — often within minutes.
Its target users include migrant workers, expatriates, and international students who send money regularly to support family members. Most of its user base comes from countries like the United States, Canada, the UK, and Europe, sending funds to destinations across Asia, Africa, and Latin America.
As of 2025, Remitly handles over $35 billion in annual transfer volume and generates over $1 billion in yearly revenue. It competes with players like Wise, Western Union, and WorldRemit — but stands out through its simplicity, transparent pricing, and customer trust.
Remitly became successful because it focused on speed, reliability, and transparency — offering a trustworthy way for users to move money globally without traditional banking barriers.
How Does Remitly Work? Step-by-Step Breakdown
Remitly’s process is designed to make cross-border money transfers as easy as sending a text message. Whether it’s sending funds to a bank account or mobile wallet, the app ensures speed, security, and transparency at every step.
For Users (Senders)
Step-by-step user journey:
- Account Creation: Users sign up on the Remitly app or website using their email or phone number and complete KYC verification (government ID required).
- Choose Destination & Amount: The sender selects the recipient country, the amount to send, and the preferred delivery method — such as bank deposit, cash pickup, or mobile wallet.
- Select Transfer Speed: Remitly offers two delivery options:
- Express: Instant transfers (usually within minutes) with a small fee.
- Economy: Lower fees but delivery takes 1–3 business days.
- Payment Method: Users fund transfers via debit/credit card, bank account, or digital wallet.
- Tracking & Notification: Once sent, both sender and recipient can track the transaction in real-time through the Remitly app or via SMS updates.
Example:
A nurse in the UK uses Remitly to send £200 to her parents in India. She chooses the Express option and the funds arrive in their local bank account within 10 minutes — with full transparency on exchange rate and delivery time.
For Recipients
Recipients can receive money through multiple options:
- Direct bank deposit (most common)
- Cash pickup from partnered agents and local banks
- Mobile wallet deposits (like GCash, M-Pesa, or Paytm)
- Home delivery (available in selected regions)
Recipients receive an instant confirmation once the funds are available.
Technical Overview
Remitly operates through a proprietary remittance infrastructure built on API-based integrations with global banks, local financial institutions, and payout partners.
It uses AI-based compliance systems for fraud detection and real-time exchange rate engines to provide accurate currency conversions.
The backend infrastructure ensures that even large volumes of small-value transactions are processed efficiently, securely, and at scale.
Read more :- Most Profitable International Money Transfer Apps to Launch in 2025
Remitly’s Business Model Explained
Remitly’s business model focuses on providing fast, low-cost international money transfers while generating revenue through transaction fees, foreign exchange margins, and premium services. It’s a volume-driven model — small fees per transaction multiplied by millions of active users worldwide.
1. Transaction Fees
Remitly charges senders a small flat fee or percentage based on:
- Transfer speed (Express vs. Economy)
- Destination country
- Payment method
For example, Express transfers using a debit/credit card have higher fees due to faster delivery and higher processing costs, while Economy transfers funded via bank accounts have minimal fees.
2. Foreign Exchange (FX) Margins
Remitly earns a significant portion of its revenue from exchange rate spreads. The company buys currency at interbank rates and sells it to users at slightly marked-up rates — still much cheaper than banks or legacy services like Western Union.
3. Premium Express Delivery
Many users choose Express transfers to ensure funds arrive within minutes. Remitly earns extra margins from these premium-speed transactions, which account for more than 60% of total volume.
4. Partnerships and Local Agents
Remitly collaborates with local banks, mobile wallet operators, and payment processors across 170+ countries. It earns commissions from these partnerships for facilitating smooth payouts and expanding reach.
5. Interest and Float Income
Remitly holds user funds temporarily during the settlement period (typically a few hours or days). The company may earn small amounts of interest from these short-term deposits, adding a supplementary revenue stream.
6. Remitly for Business
Remitly recently launched Remitly for Business, a B2B cross-border transfer service, allowing small businesses and freelancers to send or receive payments globally. It charges competitive rates and focuses on emerging market corridors.
In 2025, Remitly’s total revenue surpassed $1 billion, with over $35 billion in transfer volume processed annually. Its strong unit economics and focus on migrant remittances continue to make it a key player in global fintech.
Read Also :- Business Model For International Money Transfer
Key Features That Make Remitly Successful
Remitly’s success lies in its ability to combine speed, transparency, and trust — three essential elements for international money transfers. The platform continuously improves its technology to meet user expectations while staying compliant with global regulations.
1. Fast and Flexible Transfers
Remitly’s Express and Economy transfer options give users control over delivery speed and cost. Funds can arrive instantly or within 1–3 business days, depending on user preference.
2. Transparent Fees and Exchange Rates
Unlike traditional remittance providers, Remitly shows exact exchange rates and total costs upfront. There are no hidden fees, helping it build strong user trust.
3. Multi-Channel Delivery Options
Recipients can receive money through multiple methods:
- Direct bank deposits
- Cash pickups from thousands of agent locations
- Mobile wallets (like GCash, M-Pesa, and Paytm)
- Home delivery in select countries
4. Global Reach
Remitly operates in 170+ countries, supporting 100+ currencies and maintaining partnerships with thousands of payout locations and banks worldwide.
5. Real-Time Tracking
Every transfer can be tracked live, similar to parcel tracking. Both sender and recipient receive real-time notifications about the transaction status.
6. AI-Powered Fraud Detection
Remitly uses machine learning models to detect fraudulent transactions, identity theft, or suspicious behavior, ensuring full compliance with AML (Anti-Money Laundering) and KYC standards.
7. Mobile-First Experience
Designed primarily for smartphones, the Remitly app features a simple, multilingual interface with biometric login, easy currency selection, and instant transfer summaries.
8. 24/7 Customer Support
Remitly provides multilingual customer support across multiple time zones, available via chat, email, and phone — a key differentiator in the remittance industry.
9. Rewards and Loyalty Programs
Frequent users get promotional discounts and referral bonuses, helping the company maintain strong customer retention and word-of-mouth marketing.
10. Compliance and Security
Remitly is regulated by FinCEN (USA), FCA (UK), and other local authorities, ensuring full compliance. All data and transactions are encrypted and tokenized to meet global fintech security standards.
2025 Updates:
Remitly expanded its digital wallet integrations, launched Remitly Business, and added crypto-to-cash transfers in select regions, enhancing flexibility for global users.
The Technology Behind Remitly
Remitly’s global success is powered by an advanced, scalable technology stack built to handle millions of international transactions daily — securely, transparently, and in real time.
Tech Stack Overview (Simplified)
Remitly’s backend is primarily developed using Java, Kotlin, and Go (Golang) for high-performance transaction processing. It uses AWS Cloud infrastructure to ensure reliability and scalability, with PostgreSQL and Amazon Aurora managing financial data.
For frontend and app interfaces, Remitly uses React, Swift, and Kotlin Multiplatform — ensuring consistent user experiences across iOS, Android, and web platforms.
Real-Time Processing
Remitly’s systems connect directly with global banks, money transfer operators, and payout agents through API-driven integrations. Each transaction is validated, converted, and routed instantly via automated workflows that maintain compliance with local financial regulations.
Security and Encryption
Security is at the core of Remitly’s platform. It uses TLS 1.3 encryption, tokenization, and multi-factor authentication (MFA) to secure all transactions and personal data. The system is compliant with PCI DSS, FinCEN, and FCA requirements.
Machine Learning for Fraud Prevention
Remitly leverages AI and machine learning models to monitor transaction patterns in real time. These models identify anomalies, detect potential fraud, and ensure compliance with global AML (Anti-Money Laundering) standards.
Scalability and Reliability
The platform operates on a microservices-based architecture, allowing it to process thousands of transactions per second across multiple geographies. This modular setup ensures continuous uptime, even during high-traffic periods like festive seasons.
API Integrations and Banking Network
Remitly integrates with thousands of financial institutions globally. Its APIs connect directly to local payout partners — banks, mobile wallets, and cash agents — ensuring smooth last-mile delivery of funds.
Data Analytics and Insights
Remitly’s data pipeline runs on Apache Kafka and Snowflake, enabling real-time analytics and exchange rate optimization. These insights help reduce costs and improve transfer success rates.
Mobile and Web Synchronization
The Remitly mobile app and web dashboard are fully synchronized, allowing users to initiate, track, and manage transfers seamlessly on any device.
By combining cloud infrastructure, AI-powered compliance, and cross-border banking APIs, Remitly has become one of the most technically advanced remittance platforms in the world.
Remitly’s Impact and Market Opportunity
Remitly has transformed the remittance industry — replacing traditional, slow, and expensive wire transfers with fast, transparent, mobile-first solutions. Its impact is especially visible among migrant communities, helping millions of families receive funds instantly and securely.
Industry Disruption
Before Remitly, sending money internationally often meant long bank queues, hidden exchange rate markups, and multi-day delivery times. Remitly disrupted this model with instant transfers, fair fees, and full transparency — setting a new standard for digital remittances worldwide.
The app’s focus on trust and ease-of-use has made it the preferred choice among migrant workers, freelancers, and expatriates who rely on fast and affordable cross-border payments.
Market Statistics and Growth
As of 2025, Remitly processes over $35 billion in annual transfer volume and serves 6 million+ active customers globally. Its presence spans 170 countries, making it one of the largest digital remittance networks worldwide.
The global remittance market itself is projected to reach $900 billion by 2030, with digital channels like Remitly expected to account for more than half of all cross-border transfers.
User Demographics and Behavior
Remitly’s users are primarily migrant professionals in developed markets (US, UK, Canada, EU) sending money to Asia, Africa, and Latin America. Over 65% of users send remittances monthly, showing strong retention and recurring revenue patterns.
Geographic Presence
Remitly has a dominant presence in key remittance corridors like US–India, US–Philippines, UK–Pakistan, and Europe–Africa. Its growing partnerships with local banks and wallet providers continue to expand its footprint across Asia-Pacific and the Middle East.
Future Projections
By 2030, experts predict Remitly’s transaction volume could exceed $70 billion annually, powered by innovations in real-time payments, crypto-to-cash transfers, and AI-driven fraud protection. Its focus on low fees and speed will keep it at the forefront of the remittance revolution.
Opportunities for Entrepreneurs
The global money transfer market is booming, but there’s still enormous room for regional and niche solutions. Entrepreneurs can build Remitly-like platforms tailored to specific markets — for example, focusing on Africa-to-Europe or Asia-to-MENA corridors — with support for local payment methods and currencies.
Building Your Own Remitly-Like Platform
The success of Remitly shows that people everywhere want faster, cheaper, and more transparent ways to send money across borders. Entrepreneurs who build platforms offering localized, user-friendly, and compliant money transfer solutions can tap into a massive global market.
Why Businesses Want Remitly Clones
Remitly has become a benchmark in digital remittances — combining financial compliance, user trust, and a mobile-first experience. Businesses today want to build similar apps that:
- Serve specific remittance corridors (like US–Africa or UK–Asia)
- Offer local wallet integrations
- Provide transparent exchange rates
- Deliver fast, secure, and compliant transactions
Key Considerations for Development
When creating a Remitly-like app, focus on:
- Regulatory Compliance: Ensure licensing for money transmission (RBI, FinCEN, FCA, etc.) and AML/KYC frameworks.
- Multi-Currency Support: Enable transfers across 100+ currencies with real-time FX updates.
- Security Infrastructure: Implement encryption, tokenization, and biometric authentication for user trust.
- AI-Based Fraud Detection: Use ML algorithms for transaction monitoring and fraud risk scoring.
- Flexible Payout Options: Integrate bank deposits, cash pickups, and mobile wallets for recipient convenience.
- Scalable Architecture: Design a cloud-based system to handle millions of small-value transactions seamlessly.
Cost Factors & Pricing Breakdown
Remitly-Like App Development — Market Price
| Development Level | Inclusions | Estimated Market Price (USD) |
|---|---|---|
| 1. Basic Remittance (MVP Money Transfer App) | User registration & login, eKYC onboarding, sender/receiver profiles, simple one-corridor money transfers, basic FX rate display, fee calculation, transaction history, basic notifications, admin panel for user & transaction management, web dashboard with mobile-responsive experience | $80,000 |
| 2. Mid-Level Remitly-Style Remittance Platform | Multi-corridor support, multiple payout methods (bank, wallet, cash pickup via partners), dynamic FX & fee engine, improved KYC/AML checks, richer transaction tracking, alerts & notifications, role-based admin tools, reporting dashboard, full web + Android/iOS apps | $140,000 |
| 3. Advanced Remitly-Level Cross-Border Ecosystem | Global corridor coverage, advanced compliance & AML rules engine, partner/agent network management, complex FX and fee structures, fraud/risk monitoring, detailed analytics & reporting, multi-language & multi-currency support, scalable cloud-native microservices architecture | $220,000+ |
Remitly-Style Cross-Border Remittance Platform Development
The prices above reflect the global market cost of developing a Remitly-like cross-border money transfer platform — typically ranging from $80,000 to over $220,000, with a delivery timeline of around 4–12 months depending on the number of corridors, payout methods, compliance & AML depth, partner integrations, and scalability targets for handling high transaction volumes and regulatory oversight.
Miracuves Pricing for a Remitly-Like Custom Platform
Miracuves Price: Starts at $15,999
This starting price is positioned for a feature-rich, JS-based Remitly-style remittance platform that can include digital onboarding and eKYC, sender/receiver profiles, multi-corridor transfers, FX rate and fee calculation, transaction tracking, notifications, reporting dashboards, and modern web + mobile apps—while still leaving room to extend into more advanced compliance rules engines, partner/agent management, and global corridor expansion as your business grows.
Note: This includes full non-encrypted source code (complete ownership), complete deployment support, backend & API setup, admin panel configuration, and assistance with publishing on the Google Play Store and Apple App Store—ensuring you receive a fully operational remittance ecosystem ready for launch and future expansion.
Delivery Timeline for a Remitly-Like Platform with Miracuves
For a Remitly-style, JS-based custom build, the typical delivery timeline with Miracuves is approximately 30–90 days, depending on:
- The number of remittance corridors and regions you plan to support
- Complexity of KYC/AML, compliance workflows, and risk/fraud rules
- Number and complexity of integrations (banks, payout partners, KYC providers, payment gateways, FX/quote APIs)
- Scope of web and mobile apps, branding requirements, and long-term scalability expectations
Tech Stack
We preferably will be using JavaScript for building the entire solution (Node.js/Nest.js/Next.js for the web backend + frontend) and Flutter / React Native for mobile apps, considering speed, scalability, and the benefit of one codebase serving multiple platforms.
Other technology stacks can be discussed and arranged upon request when you contact our team, ensuring they align with your internal preferences, compliance needs, and infrastructure choices.
Essential Features to Include
- Multi-currency support with live FX rates
- Instant and scheduled transfer options
- Bank, wallet, and cash pickup integrations
- AML/KYC verification and compliance tools
- Real-time transaction tracking
- Multi-lingual, mobile-friendly user interface
- 24/7 customer support dashboard.
Read More :- How to Market a International Money Transfer App successfully After Launch
Conclusion
Remitly’s journey is a story of innovation with a purpose — to make money transfers faster, fairer, and more human. By combining financial technology, compliance, and empathy for migrant communities, Remitly has reshaped the remittance industry forever.
In 2025, it stands as a leading example of how digital-first fintechs can outperform traditional banks by prioritizing transparency, trust, and user experience. Its global network, AI-powered fraud systems, and real-time payments infrastructure continue to set benchmarks in the fintech world.
For entrepreneurs, Remitly proves that even a complex, regulation-heavy market like cross-border payments can be transformed with the right vision and technology.
A well-executed idea can become a scalable business with the right support — and Miracuves can help you make it a reality.
FAQs :-
How does Remitly make money?
Remitly earns revenue through transaction fees, exchange rate margins, and premium Express transfers. It also partners with local banks and agents for commissions and recently launched Remitly for Business, adding a B2B revenue stream.
Is Remitly available in my country?
Yes. Remitly operates in 170+ countries and supports 100+ currencies, making it one of the most widely accessible digital remittance platforms worldwide.
How much does Remitly charge per transfer?
Transfer fees vary based on country and transfer speed:
Express transfers: Instant delivery with higher fees (usually $3–$10 per transaction).
Economy transfers: 1–3 business days with lower or zero fees.
What is the difference between Express and Economy transfers?
Express: Instant delivery using debit/credit card funding.
Economy: Lower-cost transfers funded via bank accounts, taking slightly longer.
How does Remitly ensure safety and compliance?
Remitly uses end-to-end encryption, tokenization, and AI-based fraud detection to protect transactions. It’s regulated by FinCEN (US), FCA (UK), and complies with global AML/KYC standards.
Can I build a Remitly-like app?
Absolutely. With Remitly Clone Script, you can launch your own secure and customizable remittance platform featuring multi-currency transfers, real-time tracking, and compliance modules .
What makes Remitly different from Western Union or Wise?
Remitly focuses on speed and simplicity, offering instant delivery options and transparent pricing. Unlike Western Union’s agent-heavy model, Remitly is 100% digital and mobile-first.
How many users does Remitly have?
As of 2025, Remitly serves over 6 million active customers globally, processing more than $35 billion in annual remittance volume.
What technology does Remitly use?
Remitly is built using Java, Kotlin, Go, React, and AWS Cloud, with AI-powered compliance tools and real-time API integrations with banks and wallet partners worldwide.
How can I create an app like Remitly?
Partner with Miracuves to develop your own Remitly-style platform. Their ready-made clone script includes complete money transfer modules, KYC verification, live FX updates, and mobile wallet integrations — letting you go live fast and securely.
Related Articles :-
