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Global Cross-Border Payments and Remittance Services Markets to 2026 as Transaction Value is Expected to Grow from $37.15 Trillion in 2020 to $39.9 Trillion by 2026

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DUBLIN, Sept. 3, 2021 /PRNewswire/ — The “Global Cross-Border Payments and Remittance Services Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.

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The proliferation of the digital platform will encourage customers to move to online transactions. Global remittance and cross-border payments’ transaction value is expected to grow from $37.15 trillion in 2020 to $39.9 trillion by 2026.

All major participants are exploring the new Payment-as-a-service (PaaS) and remittance-as-a-service (white label) business model by leveraging on their in-house payment platforms. Global PaaS is expected to reach $25.5 billion by 2026 from $7.1 billion in 2020, expanding at a Compound Annual Growth Rate (CAGR) of 23.9%.

Cross-border payments and remittance transactions, even if essential, appear as a commodity for most customers; as a result, the fee structure has to be lowered to not appear as a pain point during the…

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