Fintech Revolutionizing Global Payments: Insights from Fintech Meetup Discussion
In a dynamic panel discussion at the recent Fintech Meetup in Las Vegas, industry leaders explored how fintech innovation is revolutionizing the cross-border payments landscape. The event, which focused on 'How Fintech is Transforming Global Payments', brought together Debopama Sen, Head of Global Payments at Citi, Matt Oppenheimer of Remitly, Laetitia Moncarz of Papaya Global, and Ryan Frere of Flywire.
The current state of cross-border payments in emerging markets is experiencing significant growth, complexity, and ongoing modernization efforts. Countries like Brazil and India are outpacing the sector's growth, with central banks and regulators actively transforming their markets. This expansion is driven by rebounding international travel, e-commerce, and increased merchant access in these regions. According to Visa, there was a 13% year-over-year growth in Q2 2025 payments volume.
However, challenges such as foreign exchange (FX) volatility, compliance gaps, and slow settlement times remain prevalent. To address these issues, fintech companies are driving innovation by leveraging modern payment technologies and infrastructures.
One key innovation is the use of blockchain and digital assets. Blockchain reduces settlement times from days to under a minute and cuts transaction costs by 60-80%, while enhancing transparency and simplifying reconciliation and compliance. Adoption of digital assets such as stablecoins also enables faster, cheaper cross-border transfers and integration with traditional systems.
Another significant development is the migration to ISO 20022 by November 2025, which introduces a universal financial messaging standard. This modernization supports lowered costs and improved customer experience with features like real-time tracking and intelligent routing of payments through optimal channels.
Fintechs are also investing in AI, biometrics, and embedded finance to reduce fraud, increase transaction security, and enhance operational efficiency in emerging markets. Furthermore, they are offering affordable cross-border payment solutions for micro, small, and medium enterprises (MSMEs) and underserved communities, helping to extend global commerce access and financial inclusion in emerging markets.
Innovation in cross-border payments has started on the consumer side and is now being extended to business customers. Specialist use-cases, such as education and receivables (Flywire) and global payroll payments without local bank accounts (Papaya Global), are being developed to cater to specific needs.
Cross-industry partnerships between global banks like Citi and fintechs are crucial for innovation in the sector. Daniel Webber, who was present at the Fintech Meetup in Las Vegas, can be contacted for discussions on potential collaborations.
The market for cross-border payments is evolving rapidly, with the projected size set to exceed $290 trillion by 2030. This transformative momentum is being fueled by digital assets, open banking, and real-time payment trends. Despite the significant progress made, there is still a significant potential for innovation in the cross-border payments sector. Technology, particularly AI, is playing a significant role in supporting the change, enhancing risk management and customer service automation.
Daniel Webber, available for professional connections on LinkedIn, is at the forefront of this exciting transformation.
Fintech companies are utilizing modern payment technologies and infrastructures, such as blockchain and AI, to address challenges in cross-border payments, including foreign exchange volatility, compliance gaps, and slow settlement times.
The migration to ISO 20022 by November 2025 and the increasing adoption of digital assets like stablecoins are driving innovation in the cross-border payments sector, with technology playing a pivotal role in reducing transaction costs, enhancing security, and promoting financial inclusion.
