Expected cross-border payment flows worldwide 2018-2020, with forecasts to 2022
Predictions are that B2B is to remain the largest segment within cross-border payments worldwide, as transaction volumes grow significantly despite COVID-19. Cross-border payments, as the name implies, refer to payments done across national borders. This can include, for example, consumers buying goods from foreign online retailers - qualifying these payments as B2C - but are especially important for banks or companies operating internationally. It is with this cross-country interoperability in mind that some countries are developing so-called CBDC, or Central Bank-Issued Digital Currencies. Examples of such coins, created and issued by a central bank, include the Sand Dollar in the Bahamas, Sweden's e-krona or the upcoming China's e-CNY - due to launch at the 2022 Winter Olympics in Beijing.
