Cross-border Payments: Global Market Trends and Forecast (2022-2027)

Jan 2023| IFT267A| BCC Publishing
Sample Report

Report Highlights

The goal is to provide an up-to-date analysis of the global cross-border payment market and future opportunities in the market. The report provides an overview of the global cross-border payment market and analyzes market trends. The report covers the market for cross-border payments with regard to the user base across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The scope of the study includes cross-border payment development solutions and services associated with the platform. However, software and deployment within the cross-border payment platform, predeveloped cross-border payment applications, and physical services have been excluded from the study.

Report Includes

  • A brief general outlook and up-to-date analysis of the global market for cross-border payments and technologies
  • Analyses of the global market trends, with market revenue (sales data) for 2021, estimates for 2022 and 2023, and projections of compound annual growth rates (CAGRs) through 2027
  • Understanding of the emerging technologies and upcoming market opportunities for cross-border payments, and areas of focus to forecast the market into various segments and sub-segments
  • Estimation of the actual market size and revenue forecast for global cross-border payments market in USD million terms, and corresponding market share analysis by transactions type, organization size, end-use industry, and geographic region
  • Identification of the companies that are considered as leaders in the financial technology field, as well as technological means these companies are using to exploit their markets and dominate the market in their fields
  • Coverage of the technological, economic, and business considerations of the global cross-border payments market with analyses and growth forecasts through 2027
  • Insight into recent industry structure, current competitive environment, R&D activities, new product launches, and company value share analysis based on their segmental revenues

Report Scope

In this report, the market has been segmented based on transaction type, organization size, end-use industry, and geography. The report provides an overview of the global cross-border payment market and analyzes market trends. Using 2021 as the base year, the report provides estimated market data for the forecast period of 2022 to 2027. Revenue forecasts for this period are segmented based on transaction type, organization size, end-use industry, and geography. Market values have been estimated based on the total revenue of cross-border payment solutions and services providers.

The report covers the market for cross-border payments with regard to the user base across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for cross-border payments in 2021 and provides projections for the expected market size through 2027.

The scope of the study includes cross-border payment development solutions and services associated with the platform. However, software and deployment within the cross-border payment platform, predeveloped cross-border payment applications, and physical services have been excluded from the study.

Frequently Asked Questions (FAQs)

• The cross-border payments market is projected to grow from $176.5 billion in 2021 to $238.8 billion in 2027, at a compound annual growth rate (CAGR) of 5.3% during the forecast period.
• The key factors driving the growth of cross-border payments market include: o Availability of digital payments to customers that were previously underbanked. o The expansion of the cashless transactions in emerging economies. o The emergence of new payments technologies.
• The cross-border payments market is segmented on the basis of transactions type, organization size, end-use industry, and region.
• Business-to-Business (B2B) segment will dominate the market by the end of 2027.
• North America holds the highest market share in the market.
• Key companies in the market include: o FIS o Fincra o PayPal o Payoneer o TransferMate o Visa Inc.

Analyst Credentials

BCC Publishing Staff comprises expert analysts who are skilled in conducting primary research, secondary research and data analysis and have decades of combined experience covering a wide range of industries, including healthcare, advanced materials and emerging technologies. Collectively, the team represents a diverse set of educational achievements with individual graduate work completed in fields such as microbiology, electrical engineering, business administration and surgery, among others.

Report Synopsis

Report Metrics Details
Base year considered 2021
Forecast period considered 2022 to 2027
Base year market size $176.5 billion
Market size forecast $238.9 billion
Growth rate CAGR of 5.3% for the forecast period of 2022-2027
Units considered $ Millions
Segments covered Transaction type, Organization size, End-use industry, and Region
Regions covered North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa
Countries covered U.S., Canada, U.K., Germany, Rest of Europe, China, India, Japan, Rest of APAC, Brazil, Mexico, and Rest of Latin America
Key Market Drivers
  • Rising Number of E-commerce Transactions
  • Boost in Global Cross-border Transactions
  • Security and Payment Fraud Concerns
  • Differences in Customer Experiences Across Geographies
Companies studied
CORPAY
FINCRA
FIS
PAYPAL
PAYONEER INC.
ROUTEFUSION
TRANSFERMATE
VISA INC.
WESTERN UNION HOLDINGS INC.
VODAFONE GROUP PLC

Table of Contents & Pricing

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