SMEs Have Planned Payment Provider Shifts
The vast majority of internationally trading SMEs plan to switch their payment providers within the next two years.
Updated on Sept. 23, 2026 in Financial Services
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A new Mastercard report reveals that 91% of internationally trading small and medium-sized enterprises (SMEs) intend to switch their cross-border payment providers by 2028. Businesses are increasingly seeking faster transaction speeds and more reliable settlements to handle growing global demand.
Why it matters
SMEs are prioritizing operational efficiency and trust as they expand their international footprints. With the cross-border B2B market valued at $31.7 trillion in 2024, providers that can offer near-instant money movement are gaining a significant competitive edge.
The B2B cross-border payment market is projected to reach $47.8 trillion by 2032, with 48% of SMEs expected to use a fintech as their primary provider. Currently, 92% of SMEs utilize multiple payment providers to facilitate their international business needs.
The players
Mastercard
This global financial services corporation operates a payment network spanning 200 countries.
Airwallex
This financial technology company provides cross-border payment services and integrates with global networks.
McLaren
This automotive and racing organization is known for its Formula 1 team that holds the world pit stop record.
The details
To improve efficiency, 67% of SMEs that recently switched providers cited the need for faster transaction times and reliable settlements as their primary motivation. Fintechs are becoming increasingly vital to this ecosystem, with companies like Airwallex integrating into the Mastercard Move network to streamline global payments.
Timeline
2023: The McLaren Formula 1 team set a pit stop record of 1.8 seconds.
2024: The B2B cross-border payments market was valued at $31.7 trillion.
2025: 30% of SMEs used fintech, while 42% used a bank as their provider.
March 2026: A Mastercard Move payment from the US to the Philippines cleared in under one second.
2032: The cross-border payment market is projected to reach $47.8 trillion.
Market Landscape
The shift toward fintech providers marks a significant departure from traditional banking dominance in the B2B payments sector. By leveraging the infrastructure of the Mastercard Move network, businesses are prioritizing speed comparable to high-performance industries like Formula 1.
International businesses should expect faster settlement times as providers move toward near-instant transaction capabilities. This shift will likely lower transaction overhead and improve cash flow management for companies operating across global borders.
The takeaway
Reliability and speed have become the most critical factors for SMEs choosing a financial partner in a $31.7 trillion global market. Businesses should evaluate their current providers against these emerging benchmarks to ensure they remain competitive in an increasingly digital economy.
Further reading
For more information on payment technology trends, visit Financial Services.
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