US and Canadian companies make up 40% of the world’s top 100 payments companies
- Today, FXC Intelligence published The 2023 Cross-Border Payments 100.
- Now in its fifth year, the market map is published annually to recognise and celebrate the biggest players in the cross border payments industry.
- North America continues to dominate the world market share, with over 40% of top 100 cross-border companies founded in the US and Canada.
Today, FXC Intelligence published The 2023 Cross-Border Payments 100, a market map of the key players in the cross-border payments space. Now in its fifth year, the map is widely recognised as the definitive benchmark of the biggest players in the industry.
Featuring companies across money transfers, payments processing, ecommerce, B2B and beyond, the map separates the top 100 players into seven groups: VC/growth equity backed, independently owned, banks, private equity backed, crypto and public companies.
The top 100 is published annually to recognise and celebrate the biggest players in the cross border payments industry.
In 2023 it comes as no surprise that North American companies continue to dominate the total global market share.
Daniel Webber, CEO and founder of FXC Intelligence said:
“Out of 15,000 companies operating in the cross-border payments space, we whittled it down to the 100 most impactful and important providers, over 40% of which were founded in the US and Canada.
“There is no doubt that the true hub of cross-border payments continues to be the US and Canada. Some of the most recognisable brands in the payments world were founded here, including Amazon, JP Morgan and Mastercard.”
This comes as no surprise given the dominance of North America within the broader fintech and finance spaces, as well as the US’s place as the biggest sending country for remittances globally.
However, looking back over the last five years of top 100 company data, it is clear that emerging markets are taking up more shares of the industry than ever before.
The geographical spread of companies in the top 100 is now more dispersed than ever before. Hot spots are now cropping up in parts of South America and Western Africa as demand for cross border payment service providers continues to evolve.
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