Exclusive: Global B2B cross-border payments to grow 43% to $56tn by 2030
Exclusive: Global B2B cross-border payments to grow 43% to $56tn by 2030
- New FXC Intelligence dataset shows that the global B2B cross-border payments market is expected to increase by 43% to $56.1tn by 2030.
- Combined with wholesale and consumer cross border payments, the overall market is expected to grow by 53% to $290.2tn in 2030.
- The highlights of the findings can be viewed in a new report, which is available here.
Today, FXC Intelligence launched its comprehensive B2B market sizing dataset, which uncovers a renewed picture of the market following the pandemic, with a report outlining the size of the market to 2030.
In building the dataset from the ground up, FXC Intelligence has taken great care to ensure accuracy by taking into account the effect of Covid-19 on the B2B cross-border payment industry.
2020 saw demand for international payments contract and change as businesses across the globe dealt with tightening restrictions on businesses and the onset of a global economic downturn. This made year-on-year growth in 2021 when the market rebounded look unusually high, which is not set to continue indefinitely. Instead the market is set to grow at a gradual pace over the remainder of the decade.
Daniel Webber, CEO and founder of FXC intelligence said:
“FXC Intelligence has painstakingly built this dataset to a high degree of accuracy. It shows that the B2B cross-border payment market is expected to grow from $39.3tn in 2023 to $56tn in 2030, an increase of 43%.
“We are therefore seeing continued growth throughout the 2020s, following a contraction of the market during the pandemic. Much of this growth will be driven by B2B ecommerce, which is set to increase significantly over the remainder of the decade. B2B ecommerce is expected to increase by 120%, meaning it will become the biggest category in business cross-border payments with a $22tn market in 2030.
“This data and the insights it brings is crucial for any company in the industry looking to understand their addressable markets and invest smartly over the next couple of years”.
Our analysts explain that the rise in B2B ecommerce reflects a proliferation of marketplaces and platforms specifically targeting businesses that are now available online. Whilst consumer payments had its digital surge throughout the pandemic, the B2B space is still ripe for significant digitisation.
Today’s launch of the B2B cross-border payment dataset follows the success of the consumer cross-border dataset that FXC Intelligence launched at the end of last year.
Although the data shows that consumer cross-border payments is a significantly smaller market, it is expected to see significant growth over the next seven years, increasing by 80% to $3.3tn.
Together, along with the wholesale cross-border payments industry, these combine to form an expected overall cross-border payments market of $190.1tn in 2023, which is set to rise by 53% to $290.2tn in 2030.
For more insights into the growth of drivers in B2B payments, see more detail in the full report on the B2B cross-border payments market here and get in touch to find out how our market sizing data can help support your business needs.
Further information
- See the full report on the B2B cross-border payments market here.
- Please email our sales team to discuss access to the dataset at sales@fxcintel.com
- FXC Intelligence is the industry leader in cross-border payments data and intelligence. Our data is used by a number of intergovernmental bodies, including the World Bank and the Financial Stability Board.
- The world's biggest banks, payments and big tech companies use our critical data to make vital decisions that shape their day-to-day operations, product development and strategy.
- We track pricing, market size and product changes as they happen and update our dataset at high frequency, giving our clients the competitive edge they need to stay on top in a rapidly changing market.
- Our clients can also access datasets on card and ecommerce pricing. We also provide cryptocurrency costs and market data in recognition of its growing significance in the global payments mix.
- Our data gives us a unique understanding of cross-border payments, and we share our analysis and insights every week with subscribers to our newsletter, the most widely read in the cross-border payments market globally. Interested and want to find out more? Sign up to our newsletter
Kezia Johnson
Senior Communications Executive
kjohnson@fxcintel.com
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