Global Cross-border Payments and Remittance Services Growth Opportunities

Frost & Sullivan's recent analysis covers key market drivers and restraints, region analysis, channel segmentation analysis, transaction value forecast by region and channel segmentation, and market growth opportunities. The study also includes analyses of the top banks, financial institutes (FIs), and money transfer operators (MTOs) that contribute to the industry ecosystem. Africa and the Middle East are expected to record the highest overall CAGR of 5.6% from 2020 to 2026, with countries such as the United Arab Emirates (UAE) and Kenya becoming attractive FinTech hubs and luring investors from European nations (e.g., Switzerland, the UK) to expand their market reach. Europe will experience a 3.7% CAGR during the forecast period due to a high share of international migrants; top destinations are Germany, the UK, and France. Meanwhile, Asia-Pacific will grow at a 3.6% CAGR in the same period due to the expansion of the cross-border eCommerce industry, which is fueling the growth of cross-border payments. In developing markets, it’s important to provide financial services to the unbanked. In this webinar with Dewi Rengganis, ICT Industry Analyst, Frost & Sullivan, you will learn the latest payment services market trends and prospects. In this briefing: • Gain an overview of the cross-border payment transactions among global migrant workers in developing countries. • Understand how blockchain-based solutions enable the originating institution and the beneficiary institution to instantly exchange currencies with the aid of cryptocurrencies. • Learn about the increasing availability of a wide array of money transfer services, including remittance for P2P transfers and bulk payments for business accounts that handle complex environments and technology requirements. • Hear key industry drivers and restraints. • Recognize implications of digitalization on the payment industry and the growing use of next-gen technology that enables payment service customization.