Total Payments industry cross border deals worth $1.1bn were announced globally for May 2022, with the $300m venture financing of Xendit being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 40.9% over the previous month of $1.86bn and a drop of 78.3% when compared with the last 12-month average of $5.07bn.

In terms of number of cross border deals, the sector saw a drop of 21.62% with 29 deals in May 2022 when compared to the last 12-month average of 37 deals.

In value terms, Asia-Pacific led the activity with cross border deals worth $477.88m in May 2022.

Payments industry cross border deals in May 2022: Top deals

The top five cross border deals accounted for 70.9% of the overall value during May 2022.

The combined value of the top five cross border deals stood at $780.2m, against the overall value of $1.1bn recorded for the month.

The top five Payments industry cross border deals of May 2022 tracked by GlobalData were:

1) Accel,Amasia,Coatue,EV Growth ,Goat Capital,Insight Partners,Intudo Ventures,Kleiner Perkins and Tiger Global Management $300m venture financing deal with Xendit

2) The $145.2m venture financing of Neo Financial Technologies by Altos Ventures,Blank Slate Ventures,Gaingels,Knollwood Investment Advisory,Maple VC Partners,Tribe Capital and Valar Ventures

3) DST Global and World Innovation Lab (WiL fund) $115m venture financing deal with Upsider

4) The $110m private equity of InterSwitch by LeapFrog Investments and Tana Africa Capital

5) Lightrock,Riverwood Capital,Silver Lake Waterman,Sunley House Capital Management and Viking Global Investors $110m private equity deal with Conductor Tecnologia