Autonomous Research has estimated the size of the global payments market at $1.8 trillion in 2015. This figure is derived from the sum of liquidity, domestic, business cross-border and remittance payments. It can be seen that B2B cross border payments and consumer remittance constitute for 16% of the $ 1.8 trillion total in 2015. Net interest and domestic payments make up the vast majority of payments and have been growing steadily over recent years.
On the right hand side the chart depicts the breakdown of consumer remittance and business cross border payments for 2015. Consumer remittance is defined as electronic transfers from a foreign worker to an individual in their home country, and is mostly present in North America with 54% of all payments. The remaining remittance payments occur in APAC and EMEA with 28% and 25% respectively. Alternatively, payments for business cross border are largely in Asia and the pacific, which constitutes for 45% of all payments. It can be seen that Latin America does not have a share in the $28 billion consumer remittance payments in 2015, yet it does make up 9% of all business cross border payments.