Research published by Nium and Celent shows that Asia Pacific businesses want faster cross-border payments than they currently receive, highlighting a widening gap between business expectations and bank assumptions across 17 markets.

The study surveyed 210 businesses and 210 banks, including respondents from across Asia Pacific. It found that 73% of businesses in the region want international payments completed within minutes or instantly, but only 10% said they currently receive payments that quickly.

Banks appear to underestimate that demand. Just 29% of banks surveyed believed businesses expect near-instant international payments, pointing to a mismatch between what corporate customers want and what many financial institutions see as most important.

The findings also show that businesses are not relying on banks alone for overseas transfers. Some 64% said they use at least one non-bank method for outgoing cross-border payments, and more than 15% of surveyed cross-border payment volume now moves through non-bank channels.

That shift is shaping expectations that banks will handle a smaller share of international payments over time. In the survey, 63% of Asia Pacific businesses said they expect their reliance on banks for cross-border payments to decrease.

Even so, the results suggest banks still have room to defend customer relationships. Seven in 10 businesses said additional or related services from banks would increase loyalty, even as payment volumes become more fragmented across providers.

Beyond speed

The research suggests businesses are not focused on settlement times alone. Ease of payment ranked as the most important consideration more often than any other factor, including total cost. Respondents also identified cut-off times, visibility into payment timing, and transparency around charges as areas needing improvement.

That points to broader demand for certainty in cross-border transactions. Businesses want to know when a payment will arrive, what it will cost, and whether it will succeed, especially when delays or errors can affect supplier relationships and inventory planning.

Problems with failed payments carry a measurable financial cost. Celent estimated that failed payments cost the average surveyed business more than USD $100,000 a year, based on how often payments fail and the expense of investigating and fixing them.

The operational effects go further. Among businesses surveyed, 34% said vendor or partner dissatisfaction and attrition was the biggest impact of delayed or failed payments, while 28% pointed to delayed orders and supply-chain disruption.

Those findings suggest cross-border payments are becoming a broader treasury and operations issue, rather than a narrow banking service question. For companies managing suppliers and customers across multiple markets, predictability appears to matter as much as speed.

Bank pressure

The survey also examined how banks view the market. Half of banks surveyed globally described cross-border payments as an area of significant opportunity, and 53% said new technology and partnerships mean they plan to expand their role.

In Asia Pacific, however, banks reported difficulty turning newer payment models into a commercial proposition. Some 63% said they are struggling to make the business case for new forms of money, including stablecoins, tokenised deposits, and central bank digital currencies.

That tension reflects a market in transition. Banks see demand rising and competition widening, but many remain unconvinced that investment in newer rails or digital money formats will generate returns quickly enough.

Nium described the findings as evidence that businesses want more choice without more complexity. "The future of money movement isn't going to be defined by banks or non-bank providers alone," said Anupam Pahuja, Chief Business Officer, Nium.

Pahuja said businesses are increasingly selecting payment methods based on their needs rather than sticking with one type of provider. "Businesses increasingly have different ways to move money depending on what they need. The challenge now is making those options work together without adding more complexity, while giving businesses the choice, speed, and certainty they expect," he said.

The results add to broader pressure on established cross-border payment models in Asia Pacific, where companies are weighing speed, reliability, and cost against the practical consequences of payment failure. With a majority of businesses already using non-bank options and many expecting to reduce reliance on banks, the region's payments market appears to be moving towards a more mixed-provider model.