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Payments, Speeding Across Borders

Payments, Speeding Across Borders

Cross-border payments have been a focal point for a growing number of stakeholders within financial services. For banks, it’s a multi-billion dollar opportunity. For merchants, doing business with companies and consumers in other countries can turbo-charge top-line growth. Speed matters, as does security – and so does making sure, with transparency, that money gets where it needs to go.

Data:

$27 billion: Projected value of the global payments security market by 2023.

95 percent: Banks’ market share of cross-border payments.

36 billion: Number of phishing messages sent to European citizens annually.

47 percent: Reported increase in cross-border payments sent from the U.S. since 2017.

$127 billion: Revenue generated from cross-border B2B transactions in 2017.

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