BANKING, FINANCIAL SERVICES & INSURANCE
Global Cross-border Payments Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Cross-border Payments Market, By Channel (Bank Transfer, Money Transfer Operator, Card Payment, Others), Enterprise Size (Large Enterprise Size, Small and Medium-sized Enterprises), End User (Individuals, Businesses), Transaction Type (Business to Business (B2B), Customer to Business (C2B), Business to Customer (B2C), Customer to Customer (C2C)), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global Cross-border Payments market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
Cross-border payments refer to financial transactions involving the transfer of funds or the settlement of payments across national borders.
Market Dynamics
DRIVERS
- Globalization of Trade and Business
- Remittances and Migration
RESTRAINTS
- Regulatory Complexity and Compliance Challenges
- High Transaction Costs and Delays
OPPORTUNITIES
- Fintech Innovation and Digital Payment Solutions
- Financial Inclusion Initiatives
CHALLENGES
- Regulatory Compliance and Anti-Money Laundering (AML) Requirements
- Currency Exchange Rate Volatility
SEGMENTATION
MARKET SEGMENTATION
- Channel
- Bank Transfer
- Money Transfer Operator
- Card Payment
- Others
- Enterprise Size
- Large Enterprise Size
- Small and Medium-sized Enterprises
- End User
- Individuals
- Businesses
- Transaction Type
- Business to Business (B2B)
- Customer to Business (C2B)
- Business to Customer (B2C)
- Customer to Customer (C2C)
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, segments, and key players as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Adyen N.V.
- American Express Company
- FIS
- Payoneer Inc.
- PayPal Holdings, Inc.
- Square, Inc.
- Stripe, Inc.
- TransferMate
- Visa Inc.
- Western Union Holdings, Inc.
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Cross-border Payments Market, by Channel
- 3.2 Global Cross-border Payments Market, by Enterprise Size
- 3.3 Global Cross-border Payments Market, by End User
- 3.4 Global Cross-border Payments Market, by Transaction Type
- 3.5 Global Cross-border Payments Market, by Geography
- 3.6 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Trend 1
- 5.1.2 Trend 2
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Globalization of Trade and Business
- 5.2.2 Remittances and Migration
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 Regulatory Complexity and Compliance Challenges
- 5.3.2 High Transaction Costs and Delays
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Fintech Innovation and Digital Payment Solutions
- 5.4.2 Financial Inclusion Initiatives
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Regulatory Compliance and Anti-Money Laundering (AML) Requirements
- 5.5.2 Currency Exchange Rate Volatility
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL CROSS-BORDER PAYMENTS MARKET, BY CHANNEL
- 6.1 Channel Summary
- 6.2 Market Attractive Index
- 6.3 Global Cross-border Payments Market, by Channel (2019-2032)
- SECTION 7 - GLOBAL CROSS-BORDER PAYMENTS MARKET, BY ENTERPRISE SIZE
- 7.1 Enterprise Size Summary
- 7.2 Market Attractive Index
- 7.3 Global Cross-border Payments Market, by Enterprise Size (2019-2032)
- SECTION 8 - GLOBAL CROSS-BORDER PAYMENTS MARKET, BY END USER
- 8.1 End User Summary
- 8.2 Market Attractive Index
- 8.3 Global Cross-border Payments Market, by End User (2019-2032)
- SECTION 9 - GLOBAL CROSS-BORDER PAYMENTS MARKET, BY TRANSACTION TYPE
- 9.1 Transaction Type Summary
- 9.2 Market Attractive Index
- 9.3 Global Cross-border Payments Market, by Transaction Type (2019-2032)
- SECTION 10 - GLOBAL CROSS-BORDER PAYMENTS MARKET, BY GEOGRAPHY
- 10.1 Regional Summary
- 10.2 Market Attractive Index
- 10.3 Global Cross-border Payments Market, by Geography (2019-2032)
- SECTION 11 - NORTH AMERICA CROSS-BORDER PAYMENTS MARKET
- 11.1 North America Summary
- 11.2 Market Attractive Index
- 11.3 North America Cross-border Payments Market, by Channel (2019-2032)
- 11.4 North America Cross-border Payments Market, by Enterprise Size (2019-2032)
- 11.5 North America Cross-border Payments Market, by End User (2019-2032)
- 11.6 North America Cross-border Payments Market, by Transaction Type (2019-2032)
- 11.7 North America Cross-border Payments Market, by Country (2019-2032)
- 11.7.1 U.S.
- 11.7.2 Canada
- 11.7.3 Mexico
- 11.7.4 Rest of North America
- SECTION 12 - EUROPE CROSS-BORDER PAYMENTS MARKET
- 12.1 Europe Summary
- 12.2 Market Attractive Index
- 12.3 Europe Cross-border Payments Market, by Channel (2019-2032)
- 12.4 Europe Cross-border Payments Market, by Enterprise Size (2019-2032)
- 12.5 Europe Cross-border Payments Market, by End User (2019-2032)
- 12.6 Europe Cross-border Payments Market, by Transaction Type (2019-2032)
- 12.7 Europe Cross-border Payments Market, by Country (2019-2032)
- 12.7.1 Germany
- 12.7.2 U.K.
- 12.7.3 France
- 12.7.4 Italy
- 12.7.5 Spain
- 12.7.6 Russia
- 12.7.7 The Netherlands
- 12.7.8 Belgium
- 12.7.9 Turkey
- 12.7.10 Rest of Europe
- SECTION 13 - ASIA-PACIFIC CROSS-BORDER PAYMENTS MARKET
- 13.1 Asia-Pacific Summary
- 13.2 Market Attractive Index
- 13.3 Asia-Pacific Cross-border Payments Market, by Channel (2019-2032)
- 13.4 Asia-Pacific Cross-border Payments Market, by Enterprise Size (2019-2032)
- 13.5 Asia-Pacific Cross-border Payments Market, by End User (2019-2032)
- 13.6 Asia-Pacific Cross-border Payments Market, by Transaction Type (2019-2032)
- 13.7 Asia-Pacific Cross-border Payments Market, by Country (2019-2032)
- 13.7.1 China
- 13.7.2 India
- 13.7.3 Japan
- 13.7.4 South Korea
- 13.7.5 Singapore
- 13.7.6 Malaysia
- 13.7.7 Australia
- 13.7.8 Thailand
- 13.7.9 Philippines
- 13.7.10 Rest of Asia-Pacific
- SECTION 14 - SOUTH AMERICA CROSS-BORDER PAYMENTS MARKET
- 14.1 South America Summary
- 14.2 Market Attractive Index
- 14.3 South America Cross-border Payments Market, by Channel (2019-2032)
- 14.4 South America Cross-border Payments Market, by Enterprise Size (2019-2032)
- 14.5 South America Cross-border Payments Market, by End User (2019-2032)
- 14.6 South America Cross-border Payments Market, by Transaction Type (2019-2032)
- 14.7 South America Cross-border Payments Market, by Country (2019-2032)
- 14.7.1 Brazil
- 14.7.2 Argentina
- 14.7.3 Chile
- 14.7.4 Colombia
- 14.7.5 Rest of South America
- SECTION 15 - MIDDLE EAST AND AFRICA CROSS-BORDER PAYMENTS MARKET
- 15.1 Middle East and Africa Summary
- 15.2 Market Attractive Index
- 15.3 Middle East and Africa Cross-border Payments Market, by Channel (2019-2032)
- 15.4 Middle East and Africa Cross-border Payments Market, by Enterprise Size (2019-2032)
- 15.5 Middle East and Africa Cross-border Payments Market, by End User (2019-2032)
- 15.6 Middle East and Africa Cross-border Payments Market, by Transaction Type (2019-2032)
- 15.7 Middle East and Africa Cross-border Payments Market, by Country (2019-2032)
- 15.7.1 Kingdom of Saudi Arabia
- 15.7.2 South Africa
- 15.7.3 U.A.E.
- 15.7.4 Egypt
- 15.7.5 Rest of Middle East and Africa
- SECTION 16 - COMPANY SHARE ANALYSIS
- 16.1 Global Cross-border Payments Market, Company Share Analysis
- 16.2 North America Cross-border Payments Market, Company Share Analysis
- 16.3 Europe Cross-border Payments Market, Company Share Analysis
- 16.4 Asia-Pacific Cross-border Payments Market, Company Share Analysis
- SECTION 17 - COMPANY PROFILES
- 17.1 Adyen N.V.
- 17.1.1 Company Snapshot
- 17.1.2 Financial Overview
- 17.1.3 Product Portfolio
- 17.1.4 Recent Developments
- 17.2 American Express Company
- 17.2.1 Company Snapshot
- 17.2.2 Financial Overview
- 17.2.3 Product Portfolio
- 17.2.4 Recent Developments
- 17.3 FIS
- 17.3.1 Company Snapshot
- 17.3.2 Financial Overview
- 17.3.3 Product Portfolio
- 17.3.4 Recent Developments
- 17.4 Payoneer Inc.
- 17.4.1 Company Snapshot
- 17.4.2 Financial Overview
- 17.4.3 Product Portfolio
- 17.4.4 Recent Developments
- 17.5 PayPal Holdings, Inc.
- 17.5.1 Company Snapshot
- 17.5.2 Financial Overview
- 17.5.3 Product Portfolio
- 17.5.4 Recent Developments
- 17.6 Square, Inc.
- 17.6.1 Company Snapshot
- 17.6.2 Financial Overview
- 17.6.3 Product Portfolio
- 17.6.4 Recent Developments
- 17.7 Stripe, Inc.
- 17.7.1 Company Snapshot
- 17.7.2 Financial Overview
- 17.7.3 Product Portfolio
- 17.7.4 Recent Developments
- 17.8 TransferMate
- 17.8.1 Company Snapshot
- 17.8.2 Financial Overview
- 17.8.3 Product Portfolio
- 17.8.4 Recent Developments
- 17.9 Visa Inc.
- 17.9.1 Company Snapshot
- 17.9.2 Financial Overview
- 17.9.3 Product Portfolio
- 17.9.4 Recent Developments
- 17.10 Western Union Holdings, Inc.
- 17.10.1 Company Snapshot
- 17.10.2 Financial Overview
- 17.10.3 Product Portfolio
- 17.10.4 Recent Developments
- SECTION 18 - RELATED REPORTS
- SECTION 19 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.