Consumer-based cross-border payments in Asia-Pacific grew faster than commercial transactions between 2022 and 2023. Asia-Pacific has the highest value of cross-border payments in total, although the United States-Mexico corridor is the biggest overall. The source adds 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 Asia-Pacific (APAC) 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 Asia-Pacific (APAC) from 2014 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1422589/north-america-cross-border-payments-by-channel/
Statista, und McKinsey & Company. "Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Asia-Pacific (APAC) from 2014 to 2023 (in billion U.S. dollars)." Chart. October 18, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1422589/north-america-cross-border-payments-by-channel/
Statista, McKinsey & Company. (2024). Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Asia-Pacific (APAC) from 2014 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1422589/north-america-cross-border-payments-by-channel/
Statista, and McKinsey & Company. "Total Cross-border Payments Revenue – B2b, B2c, C2b, Remittances – in Asia-pacific (Apac) from 2014 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 18 Oct 2024, https://www.statista.com/statistics/1422589/north-america-cross-border-payments-by-channel/
Statista & McKinsey & Company, Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Asia-Pacific (APAC) from 2014 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1422589/north-america-cross-border-payments-by-channel/ (last visited November 21, 2024)
Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Asia-Pacific (APAC) from 2014 to 2023 (in billion U.S. dollars) [Graph], Statista, & McKinsey & Company, October 18, 2024. [Online]. Available: https://www.statista.com/statistics/1422589/north-america-cross-border-payments-by-channel/
