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Bruce B. Dec 12, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Despite a general economic downturn, the world of global payments has proved resilient in 2022. Cross-border payments began to rebound, with share prices rising in the second half of 2022.

The VC funding space also has seen strong activity, the number of payments startups attracting funding in 2022 was 32% higher than in 2021. The strength of the U.S. dollar has, meanwhile, provided new opportunities for some companies in the space, particularly those catering to business customers looking to best respond to the situation.

The recent collapse has dampened the payment industry’s enthusiasm for cryptocurrencies, however, there remains a significant core of potential for blockchain technology in global payments. Enthusiasm for crypto-related projects has faded, but there are still wins to be had for companies that can harness the technology to deliver trustworthy results for their customers, rather than purely rely on the lure of crypto itself.

The world’s economic challenges are not going to cease to exist in 2023. However, the global payments industry has considerable promise. Increased interest in global operations, from international employees to localized payment solutions, is creating new opportunities that the industry will rise to.

Effective global payments are increasingly vital to companies at a time when cost-consciousness is likely to be on the rise. As we look to 2023 there are a host of areas where the industry can innovate and grow.

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