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Global Cross-border Payments Market Analysis, Trends and Forecasts Report 2022-2027 Featuring Corpay, Fincra, Fis, Paypal, Payoneer, Routefusion, Transfermate, Visa, Vodafone, & Western Union

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Dublin, Feb. 15, 2023 (GLOBE NEWSWIRE) — The “Cross-border Payments: Global Market Trends and Forecast (2022-2027)” report has been added to ResearchAndMarkets.com’s offering.

The market has been segmented based on transaction type, organization size, end-use industry, and geography. The report provides an overview of the global cross-border payment market and analyzes market trends. Using 2021 as the base year, the report provides estimated market data for the forecast period of 2022 to 2027.

The cross-border payment system is also showing a rapid surge in international remittances. The rising number of transaction limits and disputes, fragmented and broken data formats, limited operating hours, legacy technology, and long transaction value chains are some of the major factors that are projected to hinder the market growth of the cross-border payment market over the forecast period.

Today, the global cross-border payment landscape is at the center of several trends that could fundamentally change competitive dynamics, such as: rising pressure from advanced technologies comprising distributed ledger technology (DLT) and card and network innovations; accelerating international commerce in retail and corporate sectors; shifting regulatory and sanctions frameworks; and changing customer demands.

Increasing penetration of smartphones and popularity of digital access points such as alternative payment methods (APMs) for remittances have boosted new demands that businesses are struggling to meet. Alternative solution providers that provide faster, cheaper, and more transparent cross-border payment solutions can gain a competitive advantage over banks.

The global market for cross-border payments has been segmented based on transaction type, organization size, end-user industry, and geography. Based on organization size, the cross-border payment market has been categorized into large organizations and small and medium organizations (SMOs).

Based on transaction type, the cross-border payment market has been segmented into business-to-business (B2B), consumer-to-business (C2B), business-to-consumer (B2C), and consumer-to-consumer (C2C). Based on end-use industry, the cross-border payment market has been segmented into financial institutions, e-commerce, digital platforms, and organizations.

The North American region is currently the most dominant market for global cross-border payments. The presence of leading commercial banks, robust technology infrastructure, stringent laws, favorable opportunities for cross-border payment solution providers, rapid-growth cross-border e-commerce purchases, and diversification of supply chains are some of the key factors driving the North American market. Asia-Pacific is currently the fastest-growing market for cross-border payments globally.

Revenue forecasts for this period are segmented based on transaction type, organization size, end-use industry, and geography. Market values have been estimated based on the total revenue of cross-border payment solutions and services providers.

The report covers the market for cross-border payments with regard to the user base across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for cross-border payments in 2021 and provides projections for the expected market size through 2027.

The scope of the study includes cross-border payment development solutions and services associated with the platform. However, software and deployment within the cross-border payment platform, predeveloped cross-border payment applications, and physical services have been excluded from the study.

Report Includes

  • A brief general outlook and up-to-date analysis of the global market for cross-border payments and technologies
  • Analyses of the global market trends, with market revenue (sales data) for 2021, estimates for 2022 and 2023, and projections of compound annual growth rates (CAGRs) through 2027
  • Understanding of the emerging technologies and upcoming market opportunities for cross-border payments, and areas of focus to forecast the market into various segments and sub-segments
  • Estimation of the actual market size and revenue forecast for global cross-border payments market in USD million terms, and corresponding market share analysis by transactions type, organization size, end-use industry, and geographic region
  • Identification of the companies that are considered as leaders in the financial technology field, as well as technological means these companies are using to exploit their markets and dominate the market in their fields
  • Coverage of the technological, economic, and business considerations of the global cross-border payments market with analyses and growth forecasts through 2027
  • Insight into recent industry structure, current competitive environment, R&D activities, new product launches, and company value share analysis based on their segmental revenues

Key Topics Covered:

Chapter 1 Market Outlook
1.1 Market Snapshot

Chapter 2 Executive Summary

Chapter 3 Market Overview
3.1 Current Market Scenario
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Macroeconomic Factors of Cross-Border Payment Market
3.3.1 Impact of Covid-19
3.3.2 Russia-Ukraine War

Chapter 4 Emerging Technologies
4.1 Swift
4.2 Blockchain
4.3 Cryptocurrencies
4.4 Artificial Intelligence (Ai)

Chapter 5 Market Breakdown by Transaction Type, Organization Size, and End-Use Industry
5.1 Cross-Border Payment Market by Transaction Type
5.1.1 Business-To-Business (B2B)
5.1.2 Consumer-To-Business (C2B)
5.1.3 Business-To-Consumer (B2C)
5.1.4 Consumer-To-Consumer (C2C)
5.1.5 Market Size and Forecast
5.2 Cross-Border Payment Market by Organization Size
5.2.1 Large Organizations
5.2.2 Small and Medium Organizations
5.2.3 Market Size and Forecast
5.3 Cross-Border Payment Market by End-Use Industry
5.3.1 Financial Institutions
5.3.2 E-Commerce
5.3.3 Digital Platforms
5.3.4 Organizations
5.3.5 Market Size and Forecast

Chapter 6 Market Breakdown by Region
6.1 Global Cross-Border Payment Market by Region
6.2 North America
6.3 Europe
6.4 Asia-Pacific
6.5 Latin America
6.6 Middle East and Africa

Chapter 7 Competitive Landscape
7.1 Introduction
7.2 Market Ranking of Top Companies
7.2.1 Top-Ranked Market Players
7.3 Strategic Analysis
7.3.1 Recent Key Developments

Chapter 8 Company Profiles

  • Corpay
  • Fincra
  • Fis
  • Paypal
  • Payoneer Inc.
  • Routefusion
  • Transfermate
  • Visa Inc.
  • Vodafone Group plc
  • Western Union Holdings Inc.

For more information about this report visit https://www.researchandmarkets.com/r/wn514f-border?w=12

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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EZVIZ unveils its groundbreaking H9c Dual-lens Smart Pan-and-tilt Camera series: a new paradigm for automated, all-round outdoor protection

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By combining a pan-and-tilt panoramic lens and a fixed 180-degree wide-angle lens, one H9c Dual smartly secures large areas with performance better than that of two ordinary ones.
HOOFDDORP, Netherlands, May 6, 2024 /PRNewswire/ — EZVIZ, a leading global player in innovative smart home security, proudly introduces the H9c Dual series, its latest dual-lens outdoor pan-and-tilt cameras that redefine smart protection for homes and small businesses. With options in 2K and 3K resolutions, their groundbreaking design combines a sharp bullet camera and a flexible PT camera, addressing complex security needs effectively. The interlinked dual lenses work collaboratively to safeguard wide property areas, detect and track activities, and offer auto-patrol options for hands-free security.

“The H9c Dual challenges traditional outdoor cameras with unrivaled vision, unmatched automation, and high versatility for basically any scenario,” said Candice Tu, the lead product manager, “EZVIZ leads the way in the development and application of advanced dual-lens technology. This underlines our dedication to bringing cutting-edge technology within reach for practical, everyday situations.”
At the core of the H9c Dual is its groundbreaking dual-lens technology, highlighted by EZVIZ’s distinctive co-action function. The two lenses can work independently at two static viewing angles or act together as a team. When the fixed lens detects motions, the pan-and-tilt lens automatically rotates to track the same activity. This co-action function can also be manually controlled through the EZVIZ App.
The series addresses unnoticed blind spots by offering a 180-degree comprehensive view in a single frame, supplemented by the bottom PT lens for intricate close-ups. Both lenses, with high resolutions of 2K/3K, use built-in AI chips to detect people and vehicles in customizable zones, ensuring users are informed of crucial activities. Users can set up to four patrol spots for the PT lens to complete automatic rotations on a schedule.
Equipped with powerful LEDs, the H9c Dual provides color night vision up to 40 meters and warns potential trespassers with a loud siren and dazzling flashlight upon detection. Offering superior protection compared to a traditional two-camera system, the H9c is a breeze to set up thanks to its adaptable mounting design. Users can manage and control their H9c through the user-friendly EZVIZ App, and enjoy seamless integration with prevailing voice assistants and the larger EZVIZ ecosystem.
Learn more at www.ezviz.com.
Photo – https://mma.prnewswire.com/media/2404810/EZVIZ_H9c_Dual_Lens_Pan_Tilt_Wi_Fi_Camera.jpg

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Red light therapy for repairing spinal cord injury passes milestone

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BIRMINGHAM, England, May 6, 2024 /PRNewswire/ — Patients with spinal cord injury (SCI) could benefit from future treatment to repair nerve connections using red and near-infrared light.

The method, invented by University of Birmingham scientists and patented by University of Birmingham Enterprise, delivers light directly to the site of the injury. 
Their latest research, published in Bioengineering and Translational Medicine, determined an optimal ‘dose’ for this novel approach, and showed it can deliver therapeutic improvements including significant restoration of sensation and movement, and regeneration of damaged nerve cells. 
Researchers led by Professor Zubair Ahmed used cell models of SCI to determine the frequency and duration of light required to achieve maximum restoration of function and stimulate nerve cell regrowth. 
They found delivery at a wavelength of 660nm for one minute a day increased cell viability (the number of live cells) by 45% over five days’ treatment. 
Professor Ahmed said: “The effect of 660nm light was both neuroprotective, meaning it improved survival of nerve cells, and neuroregenerative, meaning it stimulated nerve cell growth.” 
The researchers also investigated the effect of light therapy in preclinical models of SCI, using an implantable device and transcutaneous delivery with the light source placed against the skin. They showed comparable results for both methods, with a one-minute dose of 660nm light, delivered daily for seven days resulting in reduced tissue scarring, increased levels of proteins associated with nerve cell regeneration, improvements in the connections between cells and significant functional recovery. 
This is the first time transcutaneous and direct light delivery have been compared in SCI. Professor Ahmed said: “To make light therapy viable for treating SCI in humans an implantable device will be required, to provide line of sight to damaged tissue and the opportunity for greater accuracy and standardise dosing without impedance due to the thickness of the skin and other tissues surrounding the spinal cord.”
The researchers are planning to develop an implantable device for use in humans with traumatic SCI. They have already received further funding and are seeking commercial partners or investors to develop a prototype device to take into first-in-man clinical trials.
Full release here. 
University of Birmingham Enterprise helps researchers turn ideas into products and services that meet real-world needs. Follow us on LinkedIn and X.
Photo: https://mma.prnewswire.com/media/2404909/University_of_Birmingham_Enterprise.jpg
Media enquiries: Ruth Ashton
Commercial enquiries: Veemal Bhowruth

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TerraPay Continues to Attract Top Industry Talent, Names Hassan Chatila as Vice President and Global Head of Network

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LONDON, May 6, 2024 /PRNewswire/ — TerraPay, a leading global money movement company, is excited to announce the appointment of Hassan Chatila as Vice President – Global Head of Network.

This key addition to TerraPay’s global network leadership also marks a critical step in the company’s ongoing strategy to simplify and streamline global money movement for businesses and individuals alike, underscoring its commitment to enhancing its network capabilities.
With over 20 years of experience in the cross-border payments, Hassan brings with him a rich legacy of leadership and innovation. Before joining TerraPay, he served as the Global Head of Western Union’s Account Payout Network, where he played a pivotal role in expanding and optimizing the network to support seamless global transactions. His impressive career portfolio also includes key leadership roles at Earthport and Temenos, where he led significant payments transformation initiatives and drove substantial growth.
In this new role at TerraPay, Hassan will lead the expansion and optimization of TerraPay’s global payout network. He will work closely with internal and external stakeholders to enhance the network’s capabilities, ensuring that TerraPay continues to offer its partners transparent and efficient payment solutions.
Welcoming Hassan to the team, TerraPay Founder and CEO, Ambar Sur, said, “It gives me great pleasure to welcome Hassan on board. As an industry expert, he comes with a highly reputable cross-border payment expertise and deep leadership experience. On TerraPay’s journey of growth, Hassan’s appointment is a critical step in furthering our network expansion goals. I look forward to working together and further deepen TerraPay’s position as a global money movement leader.”
Hassan Chatila, VP – Global Head of Network, TerraPay, commented on his new role, saying, “I am thrilled to join TerraPay at this pivotal time. Over the years, TerraPay has built an expansive global money movement network driven by the mission to build a borderless world of payments. I look forward to leveraging my experience to further develop our network capabilities, create new opportunities across markets and help TerraPay achieve its ambitious goals.”
For media inquiries, please contact [email protected]
About TerraPay
TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network regulated in 31 global markets and enabling payments to 144 receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa.
Logo: https://mma.prnewswire.com/media/1222771/TerraPay_Logo.jpg
 

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