Consumers increasingly expect and depend on fast, secure and reliable ways to move money within and beyond borders, especially in today’s economic climate.

• More consumers are searching for economic security, which is fueling worker migration and their plans to relocate. 
• Fraud remains a key concern for consumers when sending cross-border payments, as 4 in 10  feel they are more likely to be a victim of fraud from a cross-border payment vs. a domestic payment. 
• Late or failed cross-border payments drive immediate and longer-term negative impact on consumers’ well-being. 76% could not support themselves in some way as a result of a late/failed payment.
• SMEs are increasingly global, prompting the need for fast and secure cross-border payment solutions.

• 50% of SMEs are conducting more business internationally than in 2021. As a result, 65% intend to source more suppliers, partners and workers globally to make business operations more robust. And, most SMEs are also increasing their investment in digital technologies to survive and grow in changing economic conditions. 
• Data security remains a key requirement for SMEs when choosing an online cross-border payment solution. 1 in 4 are prevented from even trying to make or receive online cross-border payments due to the perceived risk of fraud. 
• Speed and transparency are also top of mind for SMEs when sending international payments, as late or failed payments hurt their reputations and vital supplier relationships.