Cross-border payment market opportunity by 2030

$65 Bn

Total inward remittance sent to India in FY22

$100 Bn

Total funding raised by fintech startups in Q2 2023

$2 Bn

Key Highlights

The cross-border payments market holds immense potential for Indian fintech players, offering a significant revenue opportunity. While the market is currently dominated by established traditional players, emerging fintech startups are rapidly gaining traction with their innovative solutions. 

India has witnessed the emergence of over two dozen startups providing cross-border payments services, indicating the increasing focus and investment in this sector. With a projected market value of $43 Bn in 2023, the Indian cross-border payment market is poised for a remarkable growth rate of 51% over the next seven years, reaching a valuation of $65 Bn by 2030. This growth trajectory presents ample opportunities for aspiring startups to enter the market and develop innovative products to cater to the evolving needs of customers.

State Of The Indian Fintech Report Q2 2023