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Data released by Thunes and Juniper Research reveals that the fragmentation of the global payment system has reached an impasse: 82% of remittance-dependent users are affected by delayed fund arrivals or hidden fees.
SingaporeJune 17, 2026 /PRNewswire/ — The fragmentation of the global payment system is creating financial exclusion, imposing a “friction tax” on the world’s most vulnerable populations through high fees and delays.
According to the Thunes Cross-Border Payment Interoperability Index report, jointly released with Juniper Research, one-third (33%) of remittance recipients struggle to pay for basic necessities such as food, rent, and utilities, because the critical cross-border funds sent to them are hindered by fragmented payment systems that fail to flow smoothly.
The findings highlight the real-world consequences of global payment system fragmentation, including financial stress, life instability, and missed opportunities directly caused by fund delays. The study, based on a survey of over 6,500 people across 10 major markets, reveals a structural fragmentation deadlock at the core of the global economy: while domestic payment systems have achieved instant transfers, cross-border payment networks have failed to keep pace.
The Human Cost of Payment Delays
The report indicates that for those whose lives depend on cross-border payments, the impact extends far beyond mere inconvenience.
- Impact on Access to Basic Necessities: 82% of recipients have encountered at least one issue, such as lacking money to buy food, pay rent or utility bills, experiencing psychological stress, or having to turn down job opportunities due to remittance delays, fees, or uncertainty.
- Impact on Mental Health: 42% of users report feeling stressed or anxious due to the lack of transparency and inefficiency in cross-border transactions.
- Lack of Transparency: 41% of senders still face “surprises” in the final amount received, with this lack of transparency most affecting younger users (aged 18 to 24), where 49% report that fees were not clearly disclosed upfront.
- Risk to Livelihood: Among affected users who rely on remittances for survival, 33% struggle to pay for basic living expenses, 33% have to resort to short-term borrowing to cover funding gaps, and another 23% experience strained personal relationships due to payment issues.
Thunes Deputy CEO Chloe Mayenobe stated: “These figures reveal a harsh truth: the cross-border payment ‘friction tax’ is a parasite on the global economy, and those who pay for it are the people least able to bear such costs. While domestic payments have achieved instant transfers, payment systems around the world remain stubbornly fragmented and disconnected. Interoperability is a fundamental requirement for financial fairness. As we work together to achieve the G20’s goals for reducing remittance costs, the entire industry must prioritize breaking this fragmentation deadlock.”
Juniper Research Vice President of Research Nick Maynard added: “This research clearly shows that payment fragmentation is no longer just an infrastructure challenge, but a social and economic issue that has real-world impacts on ordinary people. While domestic payment networks have evolved to meet demands for speed and convenience, cross-border transactions remain constrained by disconnected systems, creating unnecessary costs, delays, and uncertainty. For the millions of people who rely on remittances to cover daily living expenses, these inefficiencies represent an invisible ‘friction tax.’ Although the payment industry has made significant progress in modernization, achieving true cross-border interoperability has become an urgent priority to build a more inclusive global financial system.”
Download the Full Report: Thunes Cross-Border Payment Interoperability Index.
Research Methodology
The study is based on an online consumer survey conducted by Juniper Research in April 2026, gathering perceptions of cross-border payments from both users and non-users of international remittance services. A total of 6,763 questionnaires met all quality control and screening criteria and were included in the analysis. Respondents spanned various income levels across 10 markets: the United States, Brazil, Saudi Arabia, China, India, the Philippines, the United Kingdom, Germany, South Africa, and Nigeria.
In addition to the survey, the research team compiled a “Payment Interoperability Index” to assess the ease of cross-border payments. The index evaluates each market across five core dimensions, using indicators sourced from reputable sources such as the World Bank Global Findex 2025 and World Bank remittance cost data, including the quarterly SmaRT indicator tracking the cost of sending $200 across borders.
About Thunes
Learn more about Thunes: https://www.thunes.com.
About Juniper Research
Learn more about Juniper Research: www.juniperresearch.com.