Cross-border payments market seen reaching $414.6 billion by 2034

By AI, Created 2:46 PM UTC, May 22, 2026, /AGP/ – Allied Market Research projects the global cross-border payments market will climb from $155.5 billion in 2017 to $414.6 billion by 2034, driven by real-time payments, fintech tools, blockchain and digital commerce. The report points to B2B transactions, large enterprises and bank transfers as current leaders, while digital wallets and cryptocurrency-related channels are expected to grow fastest.

Why it matters: - Cross-border payments sit at the center of international trade, remittances, foreign investment and digital commerce. - Faster, cheaper and more transparent payment rails could lower costs for businesses and consumers moving money across borders. - The report’s forecast signals continued demand for payment modernization across banks, fintechs and enterprises.

What happened: - Allied Market Research said the global cross-border payments market was valued at $155.5 billion in 2017 and is projected to reach $414.6 billion by 2034. - The report puts the market on a 7.1% compound annual growth rate over the forecast period. - The company released the report on May 22, 2026. - The report is titled “Cross-Border Payments Market for Global Opportunity Analysis and Industry Forecast, 2018-2034.” - Allied Market Research is offering a PDF sample copy and a purchase inquiry page for the study.

The details: - Real-time payments, fintech adoption, blockchain integration and expanding digital commerce are identified as the main growth drivers. - Traditional cross-border rails still rely heavily on correspondent banking networks and SWIFT transfers. - Blockchain-based settlement systems and digital wallets are gaining traction because they can reduce latency, cut operating costs and improve transaction visibility. - Digital transformation in global finance is pushing businesses and consumers toward more seamless international payment experiences. - Rising smartphone use and cheaper internet access in emerging markets are adding to demand. - Governments and regulators are also modernizing payment systems to improve interoperability, compliance transparency and efficiency. - The report says blockchain, artificial intelligence, machine learning and decentralized finance are enabling low-cost, near-instant international payments. - Central bank digital currencies and stablecoins are emerging as tools for more efficient cross-border settlement with less reliance on banking intermediaries. - By transaction type, B2B payments were the largest segment in 2024 and are expected to remain dominant through 2034. - By enterprise size, large enterprises held the biggest revenue share in 2024. - SMEs are projected to post stronger gains as fintech lowers the cost and complexity of international payments. - By channel, bank transfers led in 2024 because of trust, established infrastructure and regulatory compliance. - The report says the “others” category, including digital wallets, cryptocurrency payments and mobile banking platforms, is expected to grow the fastest through 2034.

Between the lines: - The forecast reflects a broader shift away from slow, bank-heavy transfer models toward software-driven payment networks. - The strongest growth appears to be coming from tools that make cross-border payments more accessible for smaller businesses and consumers. - Regional leadership is likely to stay concentrated in markets with strong banking systems, but the fastest growth may come from regions still modernizing their payment infrastructure. - The report’s framing suggests regulation and interoperability will matter as much as technology in determining which payment models win.

What’s next: - North America is expected to keep the largest regional revenue share, led by the U.S. and supported by real-time payments, cross-border e-commerce and enterprise modernization. - Europe is expected to remain a mature, heavily regulated market with growing interest in open banking and blockchain settlement. - Asia-Pacific is projected to be one of the most profitable regions, supported by digitization, e-commerce growth, mobile wallets and SME participation. - LAMEA is forecast to post the highest growth rate, helped by financial inclusion efforts, smartphone adoption and remittance flows. - Major players including Payoneer, Visa, FIS, TransferMate, Adyen, PayPal, Stripe, Western Union, American Express, MoneyGram, Banking Circle Group and Thunes are focusing on partnerships, product development and infrastructure expansion. - The report also highlights rising use of AI-based fraud detection, AML and KYC automation, embedded finance and stablecoins as key industry trends.

The bottom line: - Cross-border payments are shifting toward faster, more digital and more decentralized rails, and the market is expected to more than double by 2034.