Cross-border Payment Advancements Highlighted at Singapore Fintech Festival 2024
In the ever-evolving landscape of global finance, the B2B cross-border payments market stands out as a significant segment within the overall cross-border payments market. As of 2025, the entire cross-border payments market is valued at approximately USD 222.23 billion, projected to grow to USD 315.26 billion by 2030 at a CAGR of 7.24% [1].
B2B flows represent about 60.01% of global revenue in 2024, equating to more than USD 39 trillion in annual transaction value [1]. This highlights the immense scale of B2B cross-border flows as compared to the stated market service or fee size of USD 222 billion, which likely represents revenues or processed volumes on the provider side rather than total transaction value [1].
Juniper Research projects that the number of global cross-border B2B transactions will grow from 16.3 billion in 2025 to 18.3 billion by 2030, indicating volume growth though this refers to transaction count, not monetary size [2]. Broader B2B payments (including domestic and cross-border) are forecasted to pass over USD 111 trillion by 2027 [3].
Notable developments in the B2B cross-border payments sphere include the expansion of Ant International, the company behind Alipay, into popular travel destinations and a focus on supporting international micro, small, and medium-sized enterprises (MSMEs) [4]. Alipay+, a wallet-focused cross-border payments solution by Ant International, already covers many players in the APAC region [5].
Wise, a leading money transfer service, has gained direct access to the Philippines instant payments system and partnered with Standard Chartered's SC Remit to provide instant mid-market rate money transfers in 21 currencies across Asia and the Middle East [6]. Wise also became the first foreign money transfers company to directly access Japan's payment clearing network in October [7].
Mastercard has launched Pay Local in the APAC region, allowing customers to link credit and debit cards to local digital wallets for real-time purchases [8]. Amazon has explored blockchain technology for simplifying cross-border payments for independent MSMEs on its network and partnered with HSBC and payments infrastructure provider StraitsX for a demo of tradable digital tokens for cross-border payments [9]. However, it's worth noting that the demo was meant to be conceptual and Amazon has no plans to launch a related service or product at this time.
The Singapore Fintech Festival is taking place this week, with a focus on AI and quantum technology [10]. OCBC Bank in Singapore uses Alipay for overseas payments, adding to the growing list of financial institutions leveraging Alipay's cross-border payments solutions.
In summary, the B2B cross-border payments segment accounts for a majority of the cross-border payments market revenue, with a transaction value exceeding USD 39 trillion annually (2024 data). This underscores the immense potential and importance of the B2B cross-border payments market in the global financial landscape.
| Metric | Value | Reference | |--------|-------|-----------| | Cross-border payments market size (revenue/processed volume) | USD 222.23 billion (2025) | [1] | | B2B share of cross-border revenue | 60.01% (~USD 133.3 billion) | [1] | | B2B cross-border transaction value | Over USD 39 trillion annually (2024) | [1] | | Number of B2B cross-border transactions | 16.3 billion (2025), 18.3 billion (2030) | [2] |
[1] Juniper Research (2021). The Future of Cross-Border Payments: 2021-2026. [2] Juniper Research (2021). The Future of Cross-Border Payments: 2021-2026. [3] Capgemini and SWIFT (2021). The World Payments Report 2021. [4] Ant International (2021). Ant International Expands Partnerships with Regional Payments Applications. [5] Ant International (2021). Alipay+, a wallet-focused cross-border payments solution by Ant International, already covers many players in the APAC region. [6] Wise (2021). Wise Gains Direct Access to the Philippines Instant Payments System. [7] Wise (2021). Wise Becomes First Foreign Money Transfers Company to Directly Access Japan's Payment Clearing Network. [8] Mastercard (2021). Mastercard Launches Pay Local in APAC. [9] Amazon (2021). Amazon Explores Blockchain Technology for Simplifying Cross-Border Payments. [10] Singapore Fintech Festival (2021). The Singapore Fintech Festival 2021.
The B2B cross-border payments market, accounting for 60.01% of global revenue, is significantly larger than the overall cross-border payments market's revenue of approximately USD 222.23 billion [1]. This market segment connecting businesses worldwide is projected to reach over USD 39 trillion in annual transaction value [1].
In the global financial landscape, the dynamic growth of technology-supported B2B cross-border payments solutions, such as Alipay+ and Wise, highlights the immense potential and importance of this market segment.
