Summary

The global cross border payments market was valued at $206.5 billion in 2024, and is projected to reach $414.6 billion by 2034, growing at a CAGR of 7.1% from 2025 to 2034. Cross border payments encompass the financial infrastructure, technologies, and institutions that enable the seamless transfer of funds across international borders. These transactions involve multiple currencies, banking systems, and regulatory frameworks, making the market complex and dynamic. These payments are essential for global trade, international business, e-commerce, remittances, and more.
The cross border payments market plays an important role in facilitating international financial transactions for businesses, individuals, and financial institutions. It supports global trade, remittances, foreign investments, and digital commerce, enabling seamless fund transfers across different jurisdictions. Digital transformation and fintech innovation are major driving factors in the cross border payment market. Technologies like blockchain, artificial intelligence (AI), and machine learning (ML) have enhanced the speed, security, and transparency of cross border payments and payment gateways. These innovations empower individuals and businesses to send and receive money internationally with greater efficiency and accessibility. AI algorithms are being utilized for real-time fraud detection, optimizing payment routing, and automating compliance processes. This technological integration is improving the overall efficiency and user experience in international transactions. In addition, the increasing number of migrant workers sending remittances back home is also fueling the demand for cross border payment services and thus, boosting the cross border payments market. Central banks are increasingly exploring CBDCs to enhance the efficiency and security of cross-border transactions. Notably, the mBridge project, a collaboration among the Hong Kong Monetary Authority, Bank of Thailand, Central Bank of the UAE, People's Bank of China, and Saudi Central Bank, facilitates real-time, peer-to-peer cross-border payments using CBDCs. This initiative aims to streamline foreign exchange transactions and reduce reliance on traditional banking intermediaries.
Key Findings:
By transaction type, the business to business (B2B) segment accounted for the largest cross border payments market share in 2024.
By enterprise size, the large enterprise segment accounted for the largest cross border payments market in 2024.
By channel, the bank transfer segment accounted for the largest cross border payments market share in 2024.
Region wise, North America generated the highest revenue in 2024.
Segment review
The cross border payments market is segmented on the basis of transaction type, enterprise size, end-user, channel, and region. By transaction type, market is segmented into business to business (B2B), customer to business (C2B), business to customer (B2C), and customer to customer (C2C). On the basis enterprise size, it is segmented into large enterprise size, and small and medium-sized enterprises and individual. By end user, it is bifurcated into individuals, and business and government. On the basis of channel, the cross border payments market is segmented into bank transfer, money transfer operator, card payment, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competitive analysis and profiles of the major players in the market are Payoneer Inc., Visa Inc., FIS, TransferMate, Adyen N.V., PayPal Holdings, Inc., Stripe, Inc., Western Union Holdings, Inc., American Express Company, PingPong Global Solutions Inc., Thunes Ltd., Brightwell Payments, Inc., UniTeller, Inc., Banking Circle Group, and MoneyGram International, Inc.

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Key Market Segments
By Transaction Type
● Business to Business (B2B)
● Customer to Business (C2B)
● Business to Customer (B2C)
● Customer to Customer (C2C)
By Enterprise Size
● Large Enterprise Size
● SMEs and Individuals
By Channel
● Bank Transfer
● Money Transfer Operator
● Card Payment
● Others
By Region
● North America
○ U.S.
○ Canada
● Europe
○ UK
○ Germany
○ France
○ Italy
○ Spain
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ Australia
○ South Korea
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa
● Key Market Players
○ PayPal Holdings, Inc.
○ Visa Inc.
○ TransferMate
○ Stripe, Inc.
○ Western Union Holdings, Inc.
○ American Express Company
○ Thunes Ltd.
○ Banking Circle Group
○ UniTeller, Inc.
○ Brightwell Payments, Inc.
○ Payoneer Inc.
○ FIS
○ MoneyGram International, Inc.
○ PingPong Global Solutions Inc.
○ Adyen N.V.

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Moderate to high bargaining power of suppliers
3.3.2. Moderate to high threat of new entrants
3.3.3. Moderate to high threat of substitutes
3.3.4. Moderate to high intensity of rivalry
3.3.5. Moderate to high bargaining power of buyers
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Digital Transformation and Fintech Innovation
3.4.1.2. Globalization of Trade and E-commerce
3.4.2. Restraints
3.4.2.1. Regulatory and Compliance Challenges
3.4.2.2. Currency Exchange Rate Volatility
3.4.3. Opportunities
3.4.3.1. Adoption of Blockchain and Cryptocurrency
CHAPTER 4: CROSS BORDER PAYMENTS MARKET, BY TRANSACTION TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Business to Business (B2B)
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Customer to Business (C2B)
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Business to Customer (B2C)
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
4.5. Customer to Customer (C2C)
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market share analysis by country
CHAPTER 5: CROSS BORDER PAYMENTS MARKET, BY ENTERPRISE SIZE
5.1. Overview
5.1.1. Market size and forecast
5.2. Large Enterprise Size
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. SMEs and Individuals
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
CHAPTER 6: CROSS BORDER PAYMENTS MARKET, BY CHANNEL
6.1. Overview
6.1.1. Market size and forecast
6.2. Bank Transfer
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Money Transfer Operator
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Card Payment
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
6.5. Others
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market share analysis by country
CHAPTER 7: CROSS BORDER PAYMENTS MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast By Region
7.2. North America
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by Transaction Type
7.2.3. Market size and forecast, by Enterprise Size
7.2.4. Market size and forecast, by Channel
7.2.5. Market size and forecast, by country
7.2.5.1. U.S.
7.2.5.1.1. Market size and forecast, by Transaction Type
7.2.5.1.2. Market size and forecast, by Enterprise Size
7.2.5.1.3. Market size and forecast, by Channel
7.2.5.2. Canada
7.2.5.2.1. Market size and forecast, by Transaction Type
7.2.5.2.2. Market size and forecast, by Enterprise Size
7.2.5.2.3. Market size and forecast, by Channel
7.3. Europe
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by Transaction Type
7.3.3. Market size and forecast, by Enterprise Size
7.3.4. Market size and forecast, by Channel
7.3.5. Market size and forecast, by country
7.3.5.1. UK
7.3.5.1.1. Market size and forecast, by Transaction Type
7.3.5.1.2. Market size and forecast, by Enterprise Size
7.3.5.1.3. Market size and forecast, by Channel
7.3.5.2. Germany
7.3.5.2.1. Market size and forecast, by Transaction Type
7.3.5.2.2. Market size and forecast, by Enterprise Size
7.3.5.2.3. Market size and forecast, by Channel
7.3.5.3. France
7.3.5.3.1. Market size and forecast, by Transaction Type
7.3.5.3.2. Market size and forecast, by Enterprise Size
7.3.5.3.3. Market size and forecast, by Channel
7.3.5.4. Italy
7.3.5.4.1. Market size and forecast, by Transaction Type
7.3.5.4.2. Market size and forecast, by Enterprise Size
7.3.5.4.3. Market size and forecast, by Channel
7.3.5.5. Spain
7.3.5.5.1. Market size and forecast, by Transaction Type
7.3.5.5.2. Market size and forecast, by Enterprise Size
7.3.5.5.3. Market size and forecast, by Channel
7.3.5.6. Rest of Europe
7.3.5.6.1. Market size and forecast, by Transaction Type
7.3.5.6.2. Market size and forecast, by Enterprise Size
7.3.5.6.3. Market size and forecast, by Channel
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by Transaction Type
7.4.3. Market size and forecast, by Enterprise Size
7.4.4. Market size and forecast, by Channel
7.4.5. Market size and forecast, by country
7.4.5.1. China
7.4.5.1.1. Market size and forecast, by Transaction Type
7.4.5.1.2. Market size and forecast, by Enterprise Size
7.4.5.1.3. Market size and forecast, by Channel
7.4.5.2. Japan
7.4.5.2.1. Market size and forecast, by Transaction Type
7.4.5.2.2. Market size and forecast, by Enterprise Size
7.4.5.2.3. Market size and forecast, by Channel
7.4.5.3. India
7.4.5.3.1. Market size and forecast, by Transaction Type
7.4.5.3.2. Market size and forecast, by Enterprise Size
7.4.5.3.3. Market size and forecast, by Channel
7.4.5.4. Australia
7.4.5.4.1. Market size and forecast, by Transaction Type
7.4.5.4.2. Market size and forecast, by Enterprise Size
7.4.5.4.3. Market size and forecast, by Channel
7.4.5.5. South Korea
7.4.5.5.1. Market size and forecast, by Transaction Type
7.4.5.5.2. Market size and forecast, by Enterprise Size
7.4.5.5.3. Market size and forecast, by Channel
7.4.5.6. Rest of Asia-Pacific
7.4.5.6.1. Market size and forecast, by Transaction Type
7.4.5.6.2. Market size and forecast, by Enterprise Size
7.4.5.6.3. Market size and forecast, by Channel
7.5. LAMEA
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast, by Transaction Type
7.5.3. Market size and forecast, by Enterprise Size
7.5.4. Market size and forecast, by Channel
7.5.5. Market size and forecast, by country
7.5.5.1. Latin America
7.5.5.1.1. Market size and forecast, by Transaction Type
7.5.5.1.2. Market size and forecast, by Enterprise Size
7.5.5.1.3. Market size and forecast, by Channel
7.5.5.2. Middle East
7.5.5.2.1. Market size and forecast, by Transaction Type
7.5.5.2.2. Market size and forecast, by Enterprise Size
7.5.5.2.3. Market size and forecast, by Channel
7.5.5.3. Africa
7.5.5.3.1. Market size and forecast, by Transaction Type
7.5.5.3.2. Market size and forecast, by Enterprise Size
7.5.5.3.3. Market size and forecast, by Channel
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2024
CHAPTER 9: COMPANY PROFILES
9.1. Payoneer Inc.
9.1.1. Company overview
9.1.2. Key executives
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.1.6. Business performance
9.2. Visa Inc.
9.2.1. Company overview
9.2.2. Key executives
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.2.6. Business performance
9.2.7. Key strategic moves and developments
9.3. FIS
9.3.1. Company overview
9.3.2. Key executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. Business performance
9.4. TransferMate
9.4.1. Company overview
9.4.2. Key executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.4.6. Key strategic moves and developments
9.5. Adyen N.V.
9.5.1. Company overview
9.5.2. Key executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.5.6. Business performance
9.5.7. Key strategic moves and developments
9.6. PayPal Holdings, Inc.
9.6.1. Company overview
9.6.2. Key executives
9.6.3. Company snapshot
9.6.4. Operating business segments
9.6.5. Product portfolio
9.6.6. Business performance
9.6.7. Key strategic moves and developments
9.7. Stripe, Inc.
9.7.1. Company overview
9.7.2. Key executives
9.7.3. Company snapshot
9.7.4. Operating business segments
9.7.5. Product portfolio
9.7.6. Key strategic moves and developments
9.8. Western Union Holdings, Inc.
9.8.1. Company overview
9.8.2. Key executives
9.8.3. Company snapshot
9.8.4. Operating business segments
9.8.5. Product portfolio
9.8.6. Business performance
9.8.7. Key strategic moves and developments
9.9. American Express Company
9.9.1. Company overview
9.9.2. Key executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.9.6. Business performance
9.9.7. Key strategic moves and developments
9.10. PingPong Global Solutions Inc.
9.10.1. Company overview
9.10.2. Key executives
9.10.3. Company snapshot
9.10.4. Operating business segments
9.10.5. Product portfolio
9.10.6. Key strategic moves and developments
9.11. Thunes Ltd.
9.11.1. Company overview
9.11.2. Key executives
9.11.3. Company snapshot
9.11.4. Operating business segments
9.11.5. Product portfolio
9.11.6. Key strategic moves and developments
9.12. Brightwell Payments, Inc.
9.12.1. Company overview
9.12.2. Key executives
9.12.3. Company snapshot
9.12.4. Operating business segments
9.12.5. Product portfolio
9.12.6. Key strategic moves and developments
9.13. UniTeller, Inc.
9.13.1. Company overview
9.13.2. Key executives
9.13.3. Company snapshot
9.13.4. Operating business segments
9.13.5. Product portfolio
9.14. Banking Circle Group
9.14.1. Company overview
9.14.2. Key executives
9.14.3. Company snapshot
9.14.4. Operating business segments
9.14.5. Product portfolio
9.14.6. Key strategic moves and developments
9.15. MoneyGram International, Inc.
9.15.1. Company overview
9.15.2. Key executives
9.15.3. Company snapshot
9.15.4. Operating business segments
9.15.5. Product portfolio
9.15.6. Key strategic moves and developments