Consumer-based cross-border payments in North America outpaced the commercial transactions in North America between 2021 and 2022. 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 2022
(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
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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. (September 18, 2023). Total cross-border payments revenue – B2B, B2C, C2B, remittances – in North America from 2014 to 2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 24, 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 2022 (in billion U.S. dollars)." Chart. September 18, 2023. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1418579/north-america-cross-border-payments-by-channel/
Statista, McKinsey & Company. (2023). Total cross-border payments revenue – B2B, B2C, C2B, remittances – in North America from 2014 to 2022 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 24, 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 2022 (in Billion U.S. Dollars)." Statista, Statista Inc., 18 Sep 2023, 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 2022 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1418579/north-america-cross-border-payments-by-channel/ (last visited August 24, 2024)
Total cross-border payments revenue – B2B, B2C, C2B, remittances – in North America from 2014 to 2022 (in billion U.S. dollars) [Graph], Statista, & McKinsey & Company, September 18, 2023. [Online]. Available: https://www.statista.com/statistics/1418579/north-america-cross-border-payments-by-channel/