Consumer-based transactions comprised about 20 percent of the total cross-border payments market in Europe, the Middle East, and Africa in 2023. 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 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 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. (October 18, 2024). Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Europe, Middle East, Africa (EMEA) from 2014 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 24, 2024, from https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/
Statista, und McKinsey & Company. "Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Europe, Middle East, Africa (EMEA) from 2014 to 2023 (in billion U.S. dollars)." Chart. October 18, 2024. Statista. Accessed November 24, 2024. https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/
Statista, McKinsey & Company. (2024). Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Europe, Middle East, Africa (EMEA) from 2014 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 24, 2024. https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/
Statista, and McKinsey & Company. "Total Cross-border Payments Revenue – B2b, B2c, C2b, Remittances – in Europe, Middle East, Africa (Emea) from 2014 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 18 Oct 2024, https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/
Statista & McKinsey & Company, Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Europe, Middle East, Africa (EMEA) from 2014 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/ (last visited November 24, 2024)
Total cross-border payments revenue – B2B, B2C, C2B, remittances – in Europe, Middle East, Africa (EMEA) from 2014 to 2023 (in billion U.S. dollars) [Graph], Statista, & McKinsey & Company, October 18, 2024. [Online]. Available: https://www.statista.com/statistics/1418489/emea-cross-border-payments-by-channel/
