Small and medium-sized businesses (SMBs) are among the fastest-growing end-user segments in international payments, with a projected annual growth rate of 12.7% through 2033. Yet for many SMBs, sending money internationally is still more difficult than it should be. A payment that looks straightforward on paper can take days to arrive or end up costing far more than expected.
Better options are emerging. Convera’s latest report, Payments 2026+: Liquidity in Motion, explores what’s driving the shift. Here, we’ll detail what SMBs need to know.
The global economy is more demanding — and SMBs feel it first
For SMBs doing business internationally, uncertainty is the new normal. Interest rates and geopolitical developments can change quickly, and supply chains often need to adapt in near real time.
While large enterprises may have treasury teams built to absorb that volatility, SMBs usually don’t. As a result, currency swings, payment delays, and surprise fees can directly hit cash flow.
“SMBs are navigating a more complex and demanding global economy than ever before, and outdated payment systems are no longer fit for purpose. Faster, lower-cost infrastructure and innovations like digital wallets and local rails are setting a new standard — one that traditional banks are struggling to meet,” says Guruprasad Sankaranarayanan, Senior Director, Inside Sales, SMB at Convera.
New infrastructure equals faster, cheaper cross-border payments
What’s driving the new era of cross-border payments? Real-time payment systems are leading the charge.
Europe is rolling out instant payment rules that now require euro transfers to settle in seconds, around the clock, at standard pricing. Across the Asia-Pacific region, programs like the Unified Payments Interface (UPI) and Australia’s New Payments Platform (NPP) are being linked across borders to create real-time corridors for trade and remittances. Meanwhile, emerging markets are opening their domestic systems to non-bank players.
For SMBs, payments that used to take days can now settle in seconds, often at no extra cost. Providers built on modern, API-first infrastructure can plug directly into these local rails, cutting delays and giving businesses a clearer view of where a payment is at any given moment.
Stablecoins and local rails: New tools for specific problems
Stablecoins have moved from a niche crypto curiosity to a mainstream asset that treasuries are evaluating seriously, supported in part by clearer US legislation and the EU’s Markets in Crypto Assets (MiCA) framework. The use cases so far include funding payroll just in time, paying suppliers in corridors where banking is slow, and settling marketplace flows that span time zones.
Alias-based transfers — sending money to a phone number or QR code instead of a bank account — and mobile wallets are changing how money moves in markets where mobile adoption has outpaced traditional banking. The Liquidity in Motion report details where each of these rails fits and where they still fall short.
Why SMBs are leaving traditional banks behind
The rapid growth of SMBs in the cross-border payments space brings a unique set of challenges. Delays, hidden costs, and a lack of transparency can stagnate business growth — especially for e-commerce businesses already working on thin margins.
Much of that friction comes down to “lifting fees,” or the cuts that intermediary banks take as a payment passes through multiple hands before it arrives at the recipient. McKinsey experts found that up to half of SMBs have used a fintech or non-bank provider for cross-border payments in the past year, largely because these providers route around that problem rather than simply offering lower prices. Partnering with an experienced cross-border payment provider can help an SMB protect budgets and operate with greater confidence.
Expanding globally? Compliance doesn’t have to slow you down
Payments are speeding up, and regulators are keeping pace. In Europe, PSD3 and the Payment Services Regulation are approaching implementation, while anti-money laundering and sanctions rules are becoming more demanding in many markets. Businesses also face a November 2026 deadline to comply with ISO 20022’s new structured address requirements.
For SMBs entering new markets, that’s a lot to keep track of. However, AI-driven compliance tools are increasingly built into the payment platforms businesses already use, doing the work to screen transactions and flag risk without adding manual steps. With PSD3 enforcement and the ISO 20022 deadline both landing in 2026, businesses are better served by treating compliance as a core part of their payments infrastructure rather than an afterthought.
How Convera helps SMBs move money with confidence
Convera brings all these pieces together on one platform: real-time competitive FX rates with no hidden fees, plus a global network of local bank accounts that speeds up delivery while avoiding lifting fees. Specialist teams are also ready to help shape FX risk strategy as businesses expand.
Want to learn more? Download Payments 2026+: Liquidity in Motion for the breakdown of where cross-border payments are headed and what it means for your small business.
