Cross-border B2B payments to top $40trn by 2024 - IT-Online

A new study from Juniper Research has found that the global spend on B2B cross-border payments will exceed $40-trillion by the end of 2024; increasing from $37-trillion in 2022.

A cross-border B2B payment is any payment between businesses for goods or services made internationally; irrespective of the different payment methods involved. However, the rise of cross-border instant payments, where payments are transacted in 10 seconds or under, is significantly improving this difficult situation. Currently, instant payments are restricted to certain cross-border destinations.

“This can unlock substantial improvements for B2B transactions. B2B payment vendors must be driving further integration of the instant payment rails they support on a national level to solve the difficult challenges with legacy payment channels.”

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