Consumer-based transactions comprised about 20 percent of the total cross-border payments market in Europe, the Middle East, and Africa in 2022. The source did not separate between the three regions, and also did not place them as the top markets. 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 Europe, Middle East, Africa (EMEA) 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 or the regions Europe, Africa, and the Middle East – it only provided regional numbers for EMEA as a whole. 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 Europe, Middle East, Africa (EMEA) from 2014 to 2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 31, 2024, from https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/?session=d84e73e0bd42d2edbe6c6ae8f4966376
Statista, und McKinsey & Company. "Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Europe, Middle East, Africa (EMEA) from 2014 to 2022 (in billion U.S. dollars)." Chart. September 18, 2023. Statista. Accessed August 31, 2024. https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/?session=d84e73e0bd42d2edbe6c6ae8f4966376
Statista, McKinsey & Company. (2023). Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Europe, Middle East, Africa (EMEA) from 2014 to 2022 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 31, 2024. https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/?session=d84e73e0bd42d2edbe6c6ae8f4966376
Statista, and McKinsey & Company. "Total Cross-border Payments Revenue – B2b, B2c, C2b, Remittances – in Europe, Middle East, Africa (Emea) from 2014 to 2022 (in Billion U.S. Dollars)." Statista, Statista Inc., 18 Sep 2023, https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/?session=d84e73e0bd42d2edbe6c6ae8f4966376
Statista & McKinsey & Company, Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Europe, Middle East, Africa (EMEA) from 2014 to 2022 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/?session=d84e73e0bd42d2edbe6c6ae8f4966376 (last visited August 31, 2024)
Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Europe, Middle East, Africa (EMEA) from 2014 to 2022 (in billion U.S. dollars) [Graph], Statista, & McKinsey & Company, September 18, 2023. [Online]. Available: https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/?session=d84e73e0bd42d2edbe6c6ae8f4966376
