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To see the full forecast for cross-border buyers in Canada, click here. Amazon Prime memberships continue to climb. Even without physical stores, Amazon is Canada鈥檚 top mass merchant. Sources. Deloitte. EHI Retail Institute. Field Agent Canada. Jones Lang LaSalle (JLL). Similarweb. Walmart.

So how they build cars is predicated on the fact that there's no tariffs across borders. So they build supply chains that allow, I think there's estimates that say an average part crosses the US Canadian border or Mexico, crosses a border seven or eight times before it's actually put into final assembly in a car.

Collison added that crypto 鈥渨orks better than fiat payments in a lot of cases," including cross-border transactions in countries with weak payment rails. Stripe will let consumer demand guide which areas of crypto to focus on. Catch up quick: Stripe has had mixed success with crypto.

By making cross-border payments cheaper, Wise can tap a huge market: Remittance inflow to India will reach $103.88 billion this year, per Insider Intelligence forecasts. And Wise鈥檚 higher savings rates can help it stand out from lenders offering weak returns in the UK.

Shopify also offers Markets, a cross-border commerce solution that helps merchants (and Shopify) enter new international markets. Wix鈥檚 ecommerce and in-house payments solutions are gaining traction. Wix will process $6.13 billion in payments on behalf of its merchants this year, per our forecast.

Retail, remittance, and cross-border B2B payments continue to draw in market participants. Read the full report.

"The average part crosses the US-Canadian or Mexican border seven or eight times before final assembly," said Briggs. "That is a supply chain that is completely integrated without a border in place and it would be very crippling if these tariffs came into effect for the auto industry.鈥�. Retailers that shifted supply chains to Mexico to avoid Chinese tariffs now face tough choices.

Temu and Shein won over cost-conscious shoppers in 2024: But regulatory concerns over tax loopholes, product safety, and labor practices could weigh on growth in 2025.

A rise in ecommerce marketplaces accelerated cross-border buying prior to the pandemic. Now growth is slowing. But inflation will influence more shoppers to look overseas as brand loyalty wavers. China is the No. 1 beneficiary, with 41% of US cross-border buyers making a digital purchase from the country in 2022, per the International Post Corporation. Use this chart:.

Visa has issued policy guidance on its in-development Universal Payment Channel technology, which would connect blockchain networks and enable cross-border CBDC payments. Sources. Atlantic Council. Bank for International Settlements (BIS). CoinMarketCap.com. Federal Reserve Board. Morning Consult. People鈥檚 Bank of China. PYMNTS.com. Ripple.

Moving across the US-Canada border can be the first step toward international expansion for retailers. Canadian brands like lululemon athletica and Aritzia are thriving in the US. Meanwhile, US-based companies Lowe鈥檚, Nordstrom, and Bed Bath & Beyond recently announced they were leaving Canada. And let鈥檚 not forget Target鈥檚 famous Canadian failure. Here鈥檚 a look at how brands on both sides of the border have fared, and the lessons you can learn from them.

Article: Tencent鈥檚 cross-border payments suite highlights growing need to boost global business. Methodology: Data for retail ecommerce sales for Alibaba and in Mexico and Mercado Libre's retail ecommerce sales in Mexico figures are both from Insider Intelligence's June 2022 forecast. Data from Amazon is from Insider Intelligence's November 2022 forecast.

No other market in the world comes close to China when it comes to ecommerce. Its highly competitive digital market has spurred retail innovations that are making their way around the world.

Multinationals beware: Pix and India鈥檚 Unified Payments Interface (UPI) are both major domestic payment success stories鈥攁nd should be a warning to card networks as fee pressure intensifies and domestic networks scale cross-border. Pix鈥檚 market-leading position in Brazil could also temper foreign payment companies鈥� expansion plans in the market.

Cross-border volume increased 16% YoY, flat on the quarter but slower than last year鈥檚 24% jump. Net revenues grew 10% YoY, up from 9% last quarter but down from 11% a year ago. Digging deeper: Visa executives spotlit three growth areas during the company鈥檚 earnings call. Value-added services.

By targeting high-value transactions, many of which were historically paper-based, it鈥檚 able to bring Visa large new payment flows: Visa B2B Connect targets a $10 trillion B2B cross-border opportunity. Visa CFO Vasant Prabhu specifically called out B2B payments鈥攊n addition to remittances鈥攁s near-term growth pushes for the company at a conference in September 2022.

Mastercard鈥檚 benefit: partnering with Checkout.com can give Mastercard a stronger foothold in Asia-Pacific and increase its cross-border payments volume. Asia-Pacific, the Middle East, and Africa accounted for 26% of Mastercard鈥檚 total gross dollar volume in Q4. Mastercard Send has been key to the firm鈥檚 cross-border payments volume, which grew 31% year over year (YoY) last quarter.

Shein and Temu delivery providers face barrage of lawsuits regarding labor practices: Several have been accused of underpaying workers, misclassifying them as independent contractors, and failing to provide overtime.

To fight back, card networks will partner on鈥攐r roll out their own鈥攊nstallment and A2A payment offerings, while streamlining cross-border payments. And they鈥檒l double down on other fast-growing sectors, like B2B. New Technology Will Disrupt the POS Hardware Market.

That鈥檚 why Pinduoduo is shifting gears to focus on cross-border sales with Temu, its discount ecommerce platform, as it tries to capitalize on US shoppers鈥� price sensitivity. Almost half (49%) of US online shoppers listed affordability as a top reason for buying products from international sellers, per a Global-e survey.

More US consumers are becoming cross-border buyers. Credit card debt shows limits of consumer resilience. Yesterday鈥檚 Chart of the Day: Measurement mix-ups. Methodology: Data is from the April 2023 Morning Consult survey. 2,200 US adults ages 18+ were surveyed online during March 24-26, 2023.

It may also become a threat to networks, which thrive on enabling cross-border payments. This article originally appeared in Insider Intelligence's Payments Innovation Briefing鈥攁 daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily. Are you a client? Click here to subscribe.

Consumers released more pent-up travel demand throughout the quarter, helping boost Mastercard鈥檚 cross-border volume 31% YoY. Domestic flights increased 84% YoY in Q4, according to Emburse data. Flight prices have also gone up substantially in the last few months. Holiday shopping. Mastercard benefited from a flurry of holiday shoppers in the last months of the year.

It rolled out small-business checking accounts last year and a cross-border payments solution over the summer. More recently, it partnered with TikTok on a campaign to help small businesses reach Gen Z customers. These moves reflect Amex鈥檚 desire to capture more small-business volume and diversify its revenues.

It rolled out American Express Global Pay last August so businesses can make domestic and cross-border B2B payments directly from the Amex app. The bank also introduced Amex Business Link last month, a payments ecosystem that lets B2B suppliers accept card and noncard payments from buyers鈥攅ven internationally.