Today In Data

Making Way For The Up-And-Comers

The era of the up-and-comers is upon us. Areas that few people noticed in the past are now exploding onto the scene. B2B payments (particularly across borders), P2P, the gig economy and international payments volume are all expanding as consumers and businesses are looking to speed up, get more efficient and get a better value.

Cheers to the up-and-comers: the new and emerging forces that are transforming how people around the world think about payments and commerce. They can be found in the B2B scene, in the explosion of the P2P market and in the rapid expansion of the gig economy — more and more companies are going global and trying to figure out how to make their funding motion match. They can also be found in the degree to which the world of paying workers has to change to suit them or in how customer services are reconfiguring to be more responsive to a wider range of customers and concerns. In fact, even the well-established players — like Mastercard — can learn new tricks, as its business expands to meet a larger, digital and incredibly global market.

$18.5 trillion: The total 2017 value of the B2B cross-border payments space.

75 billion: The value of P2P payments processed by Zelle in 2017.

90 percent: The share of First American Payment Systems supervisor staff that started out in customer service roles.

21 percent: The share Mastercard’s cross-border volume increased during Q1.

17 percent: The share of income gig economy workers reported losing to payment mechanism issues.