Top 30 Catalysts Transforming Global Money Transfers
Our platform has published the Most Promising Cross-Border Payments Companies list for 2023, recognizing 30 newer market entrants showing promise for the future. This annual market map is a separate initiative from the top 100 list, launched annually by our platform, and serves as a guide to companies worth watching in the cross-border payments industry.
To be eligible for this list, companies must primarily focus on cross-border payments and demonstrate consistent growth. This growth may be shown through increased product offerings, a rise in clients, or additional hires at the business. Companies on the list need to demonstrate growth, but they do not necessarily have to have raised outside funds, as long as they have a reasonably or fully established customer base.
The Most Promising Cross-Border Payments Companies list is not hierarchical and does not rank the companies in order of significance. It is an annual recognition of companies that are significantly growing within the cross-border payments industry.
The criteria for the Most Promising Cross-Border Payments Companies list are not explicitly stated, but based on the relevant context about cross-border payments and the attributes of leading companies in this sector, several key criteria can be inferred.
- Faster Settlement and Processing: Companies are valued for enabling near-instant or instant settlement of cross-border payments, often within seconds, improving upon traditional slower correspondent banking systems.
- Cost Efficiency: Companies that make cross-border payments more affordable by minimizing fees and optimizing costs through intelligent routing or use of innovative technology are favored.
- Security and Compliance: A critical requirement is adherence to regulatory standards, anti-money laundering (AML) and counter-terrorism financing (CFT) regulations, especially in the complex, multi-jurisdictional environment of cross-border payments.
- Integration and Automation: Use of technology such as APIs facilitating seamless integration with business systems (ERP, treasury) to automate flows and reconciliation enhances a company's standing.
- Innovative Use of Technology: Adoption or development of new infrastructure such as permissioned blockchains for settlement, stablecoins for faster and transparent transactions, or central bank digital currencies (CBDCs) indicate promise.
- User-Centric Experience: Companies that deliver superior user experiences by focusing on security, speed, transparency, and cost-effectiveness tend to be more promising.
While these inferred criteria align with the trends and demands in the cross-border payments industry seen in 2023-2025, without the specific platform's official criteria or award methodology, it is impossible to state the exact standards they used.
Daniel Webber, CEO and Founder of our platform, commented on the guide, expressing excitement about the potential of these companies to shape the future of cross-border payments.
The guide covers companies operating in various sectors, including remittances, payment processors, and B2B. These companies may have strong financial results, successful fundraising rounds, or changes in executive leadership pursuing a new growth strategy.
The Most Promising Cross-Border Payments Companies guide for 2023 can be read on our platform. This guide is a result of our platform's industry expertise and data analysis.
- The Most Promising Cross-Border Payments Companies list, as presented in our annual guide, recognizes companies that not only demonstrate growth in the cross-border payments industry but also prioritize areas such as faster settlement and processing, cost efficiency, security and compliance, integration and automation, innovative use of technology, and a user-centric experience.
- Companies listed in the Most Promising Cross-Border Payments Companies guide for 2023 may either show strong financial results, have successful fundraising rounds, experience changes in executive leadership pursuing a new growth strategy, or a combination of these factors, indicating their potential to significantly impact the future of cross-border payments, as asserted by Daniel Webber, CEO and Founder of our platform.
