Speed and Trust Drive Adoption of Digital Wallets for Cross-Border Payments

Global Money Movement: How Digital Wallets Are Transforming Cross-Border Payments

While digital wallets are most popular for cross-border remittances, their potential extends beyond consumer transactions. The problem: Banks are slow to integrate them as they reckon with interoperability issues as well as partnering with FinTechs to meet rising demand.

We spoke to consumers, small business leaders and bank employees across four markets to learn more. Download your copy of “Global Money Movement: How Digital Wallets Are Transforming Cross-Border Payments,” a collaboration with TerraPay,  here.

Inside the January Study
  • 70%: Share of consumers from the four studied countries making cross-border transactions who have sent at least one such payment to family or friends in the last year
  • $548: Average amount consumers typically send in cross-border transactions with family or friends using digital wallets
  • 53%: Share of U.S. and U.K. FIs that do not enable digital wallets for cross-border payments that are at least somewhat likely to enable the option in the next year

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