Payment Industry Analysis

Among the announcements at Apple’s WWDC24 was the news that it was launching a NFC-based P2P payments system, dubbed Apple Tap to Cash.
Money20/20 also saw Lucy Ingham, our Editor-in-Chief and Head of Content, share her insights about the potential of superapps in the West.
We enjoyed meeting many of you at Money20/20 this week in what was the biggest event yet for both the show and FXC Intelligence.
Earlier this month, Western Union announced that it was resuming its service between the US and Cuba, bringing an end to an outage lasting three months.
Data from China’s State Administration of Foreign Exchange shows that the volume of inbound cross-border payments in CNY has outstripped those in USD.
Intermex saw revenues rise in Q1 2024, meeting the lower end of expectations as the company reported softness across the the US-Mexico corridor.
US-based Flywire saw revenues rise by 21% YoY to $114.1m in Q1 2024, however changes to student admittance policies in Canada were a headwind.
Euronet (which owns Ria and Xe) was propelled by international transactions in Q1 2024, with particular strength from its Electronic Funds Transfer segment.
Both Visa and Mastercard have now reported calendar Q1 2024 results, with a positive quarter for the two companies as net revenue increased 10% for both.
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