Globally, cross-border payments represent $156 trillion annually – roughly 25% of global GDP – and are projected to reach nearly $250 trillion by 2027. From a payments industry perspective, these transactions account for approximately $40 billion of $2.1 trillion in fee-generated revenues, excluding foreign exchange¹. These attention-grabbing numbers have been in the line of sight of regulators, innovators, and incumbents with increasing urgency. Improvements in domestic systems have matured in many countries, leading to conversations on how new fast payments systems can go cross-border. And, indeed, they are in several regions. Central Bank Digital Currencies are piloting cross-border payments, too.
In this episode, we’re looking at the rapidly evolving space of cross-border payments with Glenbrook colleagues who have been traveling the globe working extensively with regulators, corporations, and governments on cross-border initiatives.
¹ The 2022 McKinsey Global Payments Report
Drawing on 24 years of experience in payments and risk management, Yvette has held many roles at Glenbrook, including facilitating Payments Boot Camp® workshops, hosting the Payments on Fire™ podcast, and developing industry-focused curricula. She is a “40 under 40” Portland Business Journal award recipient, Bank of America Inventor of the Year nominee, and the co-author of the highly anticipated “Payments Systems in the U.S. – Fourth Edition.”
Before joining Glenbrook, Yvette was the chief risk officer at eBay, a finance leader at Google, and the chief operations officer at YapStone. She has been an advisor to CapitalG and a mentor for 500 Startups. During her career, Yvette led payments strategy as a Director for Bank of America Merrill Lynch, led Global Payments Core Product Management at Amazon, and was a founder and the chief technology officer of PaylinX Corporation, which pioneered payment and fraud solutions for online merchants.