The billion-dollar warning for Central Eastern European Issuers: P2P’s lessons for the B2B cross-border market

Visa Consulting & Analytics (VCA) presents a white paper, analysing the rapid transformation of cross-border payments in Central Eastern Europe (CEE), highlighting how fintechs and neobanks have disrupted the person-to-person (P2P) payments market and are now poised to challenge banks in the much larger business-to-business (B2B) segment. It explores the evolving expectations of businesses and consumers for faster, cheaper and more transparent payment solutions, identifies the pain points driving clients away from traditional banks and outlines the strategic actions banks must take to defend their market share.
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Executive summary

The report, “The billion-dollar warning for Central Eastern European Issuers: P2P’s lessons for the B2B cross-border market,” examines the evolving landscape of cross-border payments, focusing on how fintechs and neobanks are starting to reshape business-to-business (B2B) transactions across the region.

Key findings reveal that fintechs are outperforming traditional banks in meeting the needs of SMBs, offering lower fees and more user-friendly experiences, while banks risk losing market share if they fail to modernise.

The research highlights that trust and regulatory credibility remain banks’ core strengths, but these are no longer sufficient as businesses increasingly blend bank and fintech services. To remain competitive, banks must invest in digital integration, tailor solutions to distinct client segments and leverage modern platforms like Visa Direct to deliver real-time, transparent and scalable payment solutions.

Proactive transformation will enable financial institutions to defend their position, capture new growth and meet the demands of a rapidly changing payments ecosystem.

Key numbers

$ 2.9 t As a European sub-region, CEE cross-border outbound volumes constitute $2.9 trillion.1

91 % In CEE, more than 91% of importing businesses in Europe are SMBs2, underscoring the scale of demand for efficient, cost-effective cross-border payments to support international trade.

8.1 % International outbound trade by CEE SMBs experienced a CAGR of 8.1% from 2019-2023, with goods imported by SMBs reaching a cross-border transaction volume of
€863B in 2023.3

Main pain points for SMBs linked to traditional banks

Source: Visa Consulting & Analytics Survey Analysis.

A simple bar chart diagram showing the pain points of small and medium businesses, ranked by percentage of respondents who agree that each category or pain point is a business challenge, based on data from Visa Analysis for Czechia, Romania, and Poland (taken as an average from the 3 markets). The data points shown are: Absence of immediate payment 36%; High fees for international transfers 36%; Payments processed only during business hours 31%; Exchange rate volatility 25%; Exchange rates fixed on weekends 23%; Unpredictable processing times 13%; Need for a minimum number of transactions to get lower fees 13%; Hidden or unclear foreign payment fees 12%; Complicated data entry (e.g., name, IBAN) 10%; Insufficient clarity on the final amounts credited to the account 7%. Source: Visa Consulting & Analytics Survey Analysis.

Three key pillars on which traditional banks should build their B2B money transfer stronghold

Trust and security

Banks should capitalise on their reputation for regulatory strength and secure handling of high-value B2B transactions.

Digital integration

Modernise payment systems with real-time processing, transparent pricing and API-driven automation to meet business demands.

Tailored solutions

Develop distinct offerings for SMBs and corporates, addressing specific pain points like cost, transparency and user experience.

Conclusion

Banks in CEE face a pivotal moment. By embracing modernisation and client-centric strategies, they can secure relevance in a $2.9 trillion market and prevent fintech-driven disruption. The time to act is now.

Get all the insights: download the full report

Download a copy of the report to understand the challenges and opportunities for banks in the CEE cross-border payments market.

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Sources

  1. CMS 2024 Market Sizing is based on a combination of data from the 2023 McKinsey Global Payments Map and 2022 EY Visa Direct Global Market Sizing Study (latter based on 2021 data). Russia and China domestic markets are excluded from the global market size. McKinsey Global Payments Map includes 47 markets globally, which comprise ~90% of global GDP. EY Visa Direct Global Market Sizing Study includes 59 markets globally and also estimates the rest of AP, CEMEA, EU, and LAC regions for countries not analyzed specifically.
  2. Eurostat. (2025). Statistics Explained: Your guide to European statistics. European Commission. https://ec.europa.eu/eurostat/statistics-explained/SEPDF/cache/6587.pdf
  3. Eurostat. (2025). “Trade by NACE Rev. 2 activity and enterprise size class”. Eurostat. https://ec.europa.eu/eurostat/databrowser/view/ext_tec01/default/table?lang=en

Disclaimers

 

The projections and growth estimates contained in this document are based on historical data, current market trends, and a variety of assumptions. These projections are intended for informational purposes only and should not be interpreted as guarantees of future performance. While we strive to provide accurate and realistic forecasts, numerous factors, including but not limited to market volatility, economic changes, and unforeseen circumstances, can influence actual outcomes. Consequently, there is no assurance that the clients will achieve the projected growth levels. We recommend that clients consider these projections as one of many tools in their decision-making process and consult with Visa Consulting and Analytics for personalised advice.

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