Digital Cross Border Payments Market Report 2025

The digital cross border payments market size has grown rapidly in recent years. It will grow from $36.81 billion in 2024 to $42.77 billion in 2025 at a compound annual growth rate (CAGR) of 16.7%. The growth during the historic period can be attributed to the expansion of international trade activities, rising mobile phone penetration, increasing demand for remittance services, greater internet accessibility in developing countries, and the growing globalization of businesses.

The digital cross border payments market size is expected to see rapid growth in the next few years. It will grow to $77.01 billion in 2029 at a compound annual growth rate (CAGR) of 15.8%. In the forecast period, growth is expected to be driven by the rising demand for instant fund transfers, the surge in cross-border e-commerce transactions, expanding financial inclusion initiatives, the increasing number of global freelancers and gig workers, and the heightened need for real-time foreign exchange solutions. Key trends anticipated during this period include the integration of artificial intelligence for fraud detection and compliance, the use of artificial intelligence in payment verification, advancements in compliance automation tools, the adoption of real-time payment systems, and the implementation of biometric authentication in digital payments.

The growing e-commerce sector is expected to drive the expansion of the digital cross-border payments market in the coming years. E-commerce refers to the buying and selling of goods or services over the internet using digital platforms and electronic payment systems. Its growth is fueled by increasing internet and smartphone penetration, enabling consumers to conveniently shop online from anywhere. Digital cross-border payments support e-commerce by providing fast, secure, and seamless international transactions, allowing businesses to efficiently reach and serve global customers. For example, in February 2025, according to the United States Census Bureau, a US-based government agency, total e-commerce sales in 2024 reached an estimated $1.19 trillion, an increase of 8.1% (±1.1) from 2023. Therefore, the growth of e-commerce is contributing to the expansion of the digital cross-border payments market.

Major companies in the digital cross-border payments market are focusing on creating innovative solutions, such as digital wallet-integrated payment platforms, to streamline international transactions and enhance user convenience. These platforms combine digital wallets with cross-border payment capabilities, enabling users to send, receive, and manage international transactions seamlessly through a single application. For instance, in November 2024, Mastercard Inc., a US-based credit card company, launched Mastercard Pay Local to enhance cross-border payments by integrating Mastercard credit and debit cards with local digital wallets. This service allows cardholders to link their cards directly to local wallets and make instant purchases at over 35 million merchants, eliminating the need to create or top up prepaid accounts. It offers a secure and convenient payment experience for residents, travelers, wallet operators, and card issuers. Initially launched in the Asia Pacific region, Mastercard plans to expand the service to other global markets.

In May 2025, Qenta Inc., a US-based financial technology company, acquired Pipit Global for an undisclosed sum. This acquisition will allow Qenta to integrate Pipit Global’s digital payments infrastructure to develop a universal payments platform and broaden its global financial services. Pipit Global Limited is a UK-based company that specializes in cross-border digital payment solutions.

Major players in the digital cross border payments market are Fidelity National Information Services Inc., Adyen N.V., Wise Payments Limited, TransferMate Payments Services Ltd., Payoneer Inc., Airwallex, Banking Circle Holdings Ltd., NIUM Pte Ltd., PingPong Payments Ltd., Verto Limited, Currencycloud Limited, Alviere GmbH, Tazapay Pte Ltd., InstaReM Pte Ltd., Brightwell Payments Ltd., Fable Fintech Pvt Ltd., Payall Payment Systems Pvt. Ltd., Cymonz Limited, Corpay Inc., and Volt Bank Limited.

North America was the largest region in the digital cross border payments market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in digital cross border payments report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the digital cross border payments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the financial sector, particularly in investment strategies and risk management. Heightened tariffs have fueled market volatility, prompting cautious behavior among institutional investors and increasing demand for hedging instruments. Banks and asset managers are facing higher costs associated with cross-border transactions, as tariffs disrupt global supply chains and dampen corporate earnings, key drivers of equity market performance. Insurance companies, meanwhile, are grappling with increased claims risks tied to supply chain disruptions and trade-related business losses. Additionally, reduced consumer spending and weakened export demand are constraining credit growth and investment appetite. The sector must now prioritize diversification, digital transformation, and robust scenario planning to navigate the heightened economic uncertainty and protect profitability.

Digital cross-border payments are electronically facilitated financial transactions conducted between individuals, businesses, or institutions located in different countries. These payments utilize digital platforms to enable fast, secure, and transparent fund transfers across international borders, avoiding the delays and complexities of traditional banking systems. They are extensively used in sectors such as global e-commerce, remittances, international trade, and freelance services to facilitate smooth monetary exchanges between parties in different jurisdictions.

The primary service types for digital cross-border payments include payment processing, currency conversion, fraud detection and prevention, compliance and risk management, and reporting and analytics. Payment processing involves the sequence of steps required to authorize, verify, and finalize a financial transaction between a buyer and a seller. Payment methods encompass bank transfers, credit or debit cards, e-wallets, cryptocurrencies, and prepaid cards, supporting transactions such as business-to-business, business-to-consumer, consumer-to-business, consumer-to-consumer, and merchant payments. These payments also involve the adoption of various technologies, including traditional banking schemes, blockchain-based solutions, mobile payment applications, payment gateways, and application programming interfaces for cross-border transactions. The services cater to diverse end users, including banking, financial services and insurance (BFSI), retail and e-commerce, travel and transportation, healthcare, and others.

The digital cross border payments market research report is one of a series of new reports that provides digital cross border payments market statistics, including digital cross border payments industry global market size, regional shares, competitors with a digital cross border payments market share, detailed digital cross border payments market segments, market trends and opportunities, and any further data you may need to thrive in the digital cross border payments industry. This digital cross border payments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The digital cross border payments market includes revenues earned by entities by providing services such as application programming interface (API) and payment gateway solutions, multi-currency account services, cross-border remittance services, recurring payment management and regulatory compliance, and know your customer (KYC) or anti-money laundering (AML) services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.