A research report released recently by global Fintech firm Thunes with assistance from Juniper Research has introduced a Cross-Border Payments Interoperability Index which reveals that while domestic payment systems have achieved remarkable speed and efficiency, these advancements often halt abruptly at national boundaries, leaving cross-border flows fragmented and delayed. The research reveals that more than a billion individuals worldwide continue to endure multi-day waits for overseas funds, even as half of recipients identify speed as their primary concern.
According to insights from Thunes, this disconnect highlights broader frustrations in a sector where consumer demands for instant, seamless transactions clash with outdated international infrastructure.
The index, which assessed 50 markets, demonstrates clear differences across regions but confirms a universal issue: proper local systems do not inherently translate into effective global linkages.
Europe stands out as the leader, accounting for 16 of the top 20 positions.
Its success stems largely from the SEPA framework, enabling euro transfers across borders in as little as 10 seconds.
Yet this efficiency remains mostly confined within the Eurozone, limiting its broader impact.
In the Americas, the United States ranks 21st, hampered by a decentralized banking structure that complicates ties to real-time global networks.
Brazil’s popular PIX system excels domestically, but stringent currency regulations result in 42% of inbound international payments facing extended delays.
The Asia-Pacific region presents a mixed picture. Singapore secures second place overall through strategic bilateral connections, yet many large economies lag.
India and China now have highly sophisticated internal ecosystems but prioritize inward flows, causing 46% of Indian and 30% of Chinese recipients to wait days for foreign remittances.
Mobile wallets, widely adopted across East, South, and Southeast Asia, often operate in isolation, lacking native global compatibility.
In the Middle East, countries such as the UAE and Saudi Arabia feature modern technological foundations, but everyday reliance on cash persists—72% of Saudis use physical currency weekly—which constrains digital cross-border expansion.
The research study also tracks evolving user behaviors. Mobile wallets and payment applications now serve as the leading channel for international remittances, chosen by 48% of respondents globally.
In key markets, these tools drive financial inclusion: significant portions of users in India (30%), and the Philippines (25%) opened their first formal account via a wallet, often citing ease of onboarding.
Traditional banks continue to anchor settlement processes, emphasizing the importance of bridging disparate systems.
Interest in stablecoins and cryptocurrencies varies sharply.
Globally, only 11% regularly use crypto platforms for cross-border sends, with trust issues like scam concerns (cited by 25% of non-users) and preference for familiar methods (23%) acting as main deterrents.
Europe shows limited adoption despite progressive rules like MiCA.
Mathieu Limousi, CMO at Thunes, captured the core tension: domestic payments have become instantaneous, yet borders frequently stall innovation.
He stressed that the real challenge lies in linking existing networks—mobile wallets, digital assets, and banks—rather than constructing new ones.
Nick Maynard from Juniper Research echoed this, describing the situation as a worldwide interoperability crisis where even advanced markets struggle with last-mile connectivity due to incompatible ecosystems. The research findings, drawn from a survey of over 6,700 consumers across 10 nations conducted in April 2026 alongside broader benchmarks, signal that real progress in financial inclusion depends on effectively enabling proper connections across various jurisdictions.
