1、The Dynamic Nature of Cross-border Payments in AsiaA report from Kapronasia in collaboration with FinastraDecember,2022A look at how the increasingly competitive cross-border payments market in Asia is impacting the regions financial institutions ContentsExecutive Summary 3The State of Cross-border

2、Payments in Asia Pacific 4A Growing Network of Alternative Rails 6Navigating the Bevy of Payment Rails 11Conclusions 13Closing Thoughts from Finastra 15MethodologyThe Dynamic Nature of Cross-border Payments in Asia report was written by Kapronasia in collaboration with Finastra.Research for the repo

3、rt included secondary research which consisted of existing and new datasets from Kapronasias databases as well as various reports,news articles,and commentaries in the media.Primary research included discussions with various market participants including banks and payment providers.The Dynamic Natur

4、e of Cross-border Payments in Asia3Executive SummaryGlobal cross-border payment volume is booming,driven by increased economic connectivity and rapid advances in technology.Traditional financial institutions,Big Tech,and fintech upstarts are all vying for their respective share of an estimated US$15

5、6 trillion market.1Amid the cross-border payment surge,various alternative payment rails executing real-time or near real-time transactions have sprung up.These rails are provided by fintechs,card companies,platform companies,cross-border QR-based payments networks,blockchain networks,and even incum

6、bent banks.These rails have emerged in response to market trends,including fickle customers,extreme sensitivity to price and service,heightened expectations,and growth in remittances.Given their competitive cost,convenience,speed,and transparency,these new rails are becoming integral to cross-border