The Value Of Faster Payments

The flow of money and data across borders is developing a new ecosystem in which payments data has as much value as the funds themselves. In business-to-business (B2B) payments, application service provider Brandwise has tapped Fundbox to help provide net terms for suppliers, buying agents and retailers. And, in retail, hair color is a big business (especially in the United States), while meal kit companies are thinking outside the box. All this, Today in Data.

Data:

$689 billion: Estimated total value of global remittances in 2018.

85 percent: Share of women who report coloring their hair in some fashion.

19 percent: Share of U.S. adults who have tried a meal kit service per a recent survey.

1.7 million: Total number of merchants participating in Singtel’s VIA cross-border mobile payments alliance.

$1 billion: Minimum amount of credit Fundbox says it has facilitated for small businesses.