Commercial-based cross-border payments in North America grew at a higher rate than the consumer-led transactions in North America between 2022 and 2023. The source mentions the importance of the remittances from the United States to Latin America – with the United States-Mexico payments corridor being regarded as the largest in the world. Whether the figures shown here reflect is unclear, as the source does not clarify: Mexico is not mentioned, making it unclear whether the source put the country under North America or Latin America. The source does add that the highest global growth after 2022 is expected in C2B cross-border, due to increasing online shopping and international travel. Consumer categories, it continues, also have higher margins when compared to B2B.
Total cross-border payments revenue – B2B, B2C, C2B, remittances – in North America from 2014 to 2023
(in billion U.S. dollars)
Characteristic
Cross-border payment services (B2B, B2C) and documentary trade finance
C2C remittance services and C2B cross-border payment services
All figures provided are estimates, and have been taken from different reports
Supplementary notes
The source did not separate between countries – it only provided regional numbers for North America as a whole. The source does not clarify whether it places Mexico under North America or under Latin America. It also did not provide more in-depth figures on the exact type of cross-border payments or remittances, such as what goods or services are exactly paid for.
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Statista, & McKinsey & Company. (October 18, 2024). Total cross-border payments revenue – B2B, B2C, C2B, remittances – in North America from 2014 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1418579/north-america-cross-border-payments-by-channel/
Statista, und McKinsey & Company. "Total cross-border payments revenue – B2B, B2C, C2B, remittances – in North America from 2014 to 2023 (in billion U.S. dollars)." Chart. October 18, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1418579/north-america-cross-border-payments-by-channel/
Statista, McKinsey & Company. (2024). Total cross-border payments revenue – B2B, B2C, C2B, remittances – in North America from 2014 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1418579/north-america-cross-border-payments-by-channel/
Statista, and McKinsey & Company. "Total Cross-border Payments Revenue – B2b, B2c, C2b, Remittances – in North America from 2014 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 18 Oct 2024, https://www.statista.com/statistics/1418579/north-america-cross-border-payments-by-channel/
Statista & McKinsey & Company, Total cross-border payments revenue – B2B, B2C, C2B, remittances – in North America from 2014 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1418579/north-america-cross-border-payments-by-channel/ (last visited November 21, 2024)
Total cross-border payments revenue – B2B, B2C, C2B, remittances – in North America from 2014 to 2023 (in billion U.S. dollars) [Graph], Statista, & McKinsey & Company, October 18, 2024. [Online]. Available: https://www.statista.com/statistics/1418579/north-america-cross-border-payments-by-channel/
