May was a strong month for the launch of point of sale products, with a number of major announcements in key markets globally.

China has reported that the volume of outbound cross-border payments made in yuan outstripped those made in US dollars in April.

Uruguay-based payment processor dLocal had a solid Q1, with revenues rising 57% to $137.3m and adjusted EBITDA up 38% to $45.5m.

The 2023 Remittances Africa Conference took place last week, with industry players and government officials discussing the African diaspora and remittances.

Market expansion and digital growth led to higher revenue rises for remittance companies in Q1 23.

Paysafe has reported its Q1 23 results, with its strongest quarter since it went public seeing it deliver 5% YoY revenue growth to $388m.

US-based Flywire’s share price rose last week after it announced that revenues had risen by 46.1% to $94.4m in Q1.

Block has published its Q1 2023 results, beating expectations with a 26% YoY increase in revenue to $5bn, while gross profit increased 32% to $1.7bn.

PayPal’s net revenue rose 9% to $7.0bn (10% excluding the impact of FX) in Q1 2023, driven by a 10% rise in total payments volume to $354.5bn.