Throughout the history of cross-border development over the past 100 years, technology is the core driving force for the development of the industry. The future of cross-border payments will usher in a new stage of development.
Cross-border payments deserve continued attention and investment, especially in cross-border collection in China and global peer-to-peer payments based on new technologies, which are expected to give birth to new payment giants. Compliance, brand, technology and customer system are important factors for the success of cross-border payment institutions, and are also the main basis for evaluating the investment value of cross-border payment institutions.
The cross-border payment market has great potential
Data shows that from 2016 to 2018, the transaction volume of global cross-border e-commerce (B2C market) was US$401 billion, US$530 billion and US$675 billion, respectively, with a compound annual average growth rate of 29.7%. From 2015 to 2018, the transaction volume of global exports (B2B market) was US$16.5 trillion, US$16 trillion, US$17.7 trillion and US$17.59 trillion, respectively. From 2016 to 2018, the global C2C market transaction volume was US$575 billion, US$594 billion and US$616 billion, respectively, with a compound annual growth rate of 3.5%. In 2018, the global cross-border payment transaction volume was approximately US$18.88 trillion, and the total contribution revenue reached US$107 billion. Cross-border e-commerce will continue to grow steadily in the future. It is estimated that by the end of 2023, global trade volume will increase by 6% compared with 2018.
With the increase in the penetration rate of the Internet and mobile smartphones, the improvement of international logistics speed and the reduction of costs, online shopping and online payment are becoming more and more convenient, and the global cross-border payment market is developing rapidly.