Cross-border Expansion Insights from Third Quarter 2024 for Visa and Mastercard
In the ever-evolving world of global payments, the performance of Visa and Mastercard continues to be a topic of interest. As trends in credit and debit card use are being discussed, these two giants of the industry are seeing growth in their services on a global scale.
As of mid-2025, Visa's cross-border card payment volumes improved by about 13% year-over-year in Q2 fiscal 2025, indicating solid growth in its consumer cross-border business. Mastercard's cross-border volumes also increased by around 15% on a local currency basis in Q1 2025, driven in part by SME-focused solutions in Latin America.
In the B2B2X segment, both companies are actively expanding offerings that facilitate business-to-business and business-to-ecosystem cross-border payments. Mastercard's Mastercard Move platform targets small and medium-sized enterprises (SMEs), aiming to reduce costs, improve transparency, and accelerate settlements in over 150 countries. Visa, while less specifically detailed, is broadly recognized for its value-added services that supplement payment volumes, including fraud prevention and data analytics.
Both Visa and Mastercard benefit from resilient consumer spending, despite geopolitical and tariff-related headwinds, which supports ongoing cross-border card payment activity. However, some analysts note potential cross-border travel spending slowdowns later in 2025 due to geopolitical risks, which could affect this lucrative segment.
This robust performance in cross-border card payments and growing strategic emphasis on B2B2X payment facilitation, particularly via Mastercard’s dedicated SME platform and Visa’s diversified ancillary services supporting enterprise clients, reflects a promising future for these industry leaders.
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Written by Lucy Ingham, this insightful article can be found on LinkedIn.
The performance of Visa in cross-border card payments continues to thrive, with Visa's cross-border card payment volumes improving by about 13% year-over-year in Q2 fiscal 2025.
Mastercard's strategic move into SME-focused solutions in Latin America has contributed to an increase of around 15% in its cross-border volumes on a local currency basis in Q1 2025.
