B2B Payments Market by Type (Cross-Border, Domestic), Payment Method (Credit Cards, Digital Wallets, Electronic Funds Transfer), Organization Size, Industry Vertical - Global Forecast 2024-2030

B2B Payments Market by Type (Cross-Border, Domestic), Payment Method (Credit Cards, Digital Wallets, Electronic Funds Transfer), Organization Size, Industry Vertical - Global Forecast 2024-2030

The B2B Payments Market size was estimated at USD 157.58 billion in 2023 and expected to reach USD 171.41 billion in 2024, at a CAGR 9.02% to reach USD 288.56 billion by 2030.

Business-to-business (B2B) payments refer to the exchange of funds, primarily through electronic means, between enterprises for goods and services rendered. This B2B payment encompasses various solutions, including Electronic Funds Transfer (EFT), Automated Clearing House (ACH), credit cards, e-invoicing platforms, digital wallets, and blockchain-based payment systems. These payment solutions facilitate secure and efficient business transactions, reducing the reliance on traditional paper checks and cash-based transactions. The growth factors in the B2B payments market include the easy availability of mobile apps and online websites for business transactions. Furthermore, the rising number of payment options to suit the preferences of businesses is increasing the adoption of B2B payment solutions. However, the B2B payments market faces some limitations, while integrating novel B2B payment options with existing systems and rising security concerns regarding cyberattacks and data breaches. To overcome these issues, businesses invest in research and development, improving security measures. Moreover, technological advancements, including AI, ML, cloud computing, and DLT, have significantly improved transaction processing speed and security. Adopting blockchain technology for enhanced security and implementing real-time payment solutions for improved cash flow management is capitalizing on emerging opportunities in the B2B payment market.

Regional Insights

In the Americas region, the United States is a leading innovator in B2B payments technology, with numerous fintech companies driving change in areas such as real-time payments (RTP), blockchain-based solutions, and advanced data analytics. In line with this innovation push is FedNow, a real-time payment service developed by The Federal Reserve System that aims to enable instant transfers within US financial institutions. Meanwhile, in Canada, adopting digital payment solutions such as Interac e-Transfer for Business has gained significant traction among SMEs. EU countries have been at the forefront of standardizing cross-border payment processes through initiatives like SEPA (Single Euro Payments Area), which harmonizes European electronic transactions. Latest developments include the European Central Bank's TIPS project (TARGET Instant Payment Settlement) that facilitates instant payment processing across Europe. The Middle East and Africa region presents ample growth opportunities in B2B payments, driven by increasing internet penetration, smartphone adoption, and supportive government initiatives to adopt digital payment methods. China is a global leader in B2B payment innovation, with market giants such as Alibaba's Ant Financial spearheading advances in cross-border e-commerce payments. Meanwhile, Japan has seen the rise of several fintech startups that leverage AI-driven technologies to streamline B2B payment processes. In India, the Unified Payments Interface (UPI) has transformed digital payments with record-breaking transaction volumes, and this success has led to the introduction of UPI-based solutions explicitly catering to businesses. Considering these, the global B2B payments market is evolving rapidly, driven by technological advancements, shifting consumer needs, and increasing demands for seamless customer experiences.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the B2B Payments Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Availability of mobile apps and online websites for business transactions
• Rising number of payment options to suit the preference of businesses
• Utilization of B2B payment options by small and mid-size manufacturers and retailers

Market Restraints

• Difficulty of integration of novel B2B payment options with existing systems

Market Opportunities

• Emergence of blockchain-based B2B payments
• Integration of AI and ML in B2B payments and availability of payments in installments feature

Market Challenges

• Complex regulations for digital businesses and B2B payments

Market Segmentation Analysis

• Payment Method: Advancement in the digital payments methods driving efficiency and security in B2B payments
• Type: Expanding use of B2B payment offering cost reduction, and fraud protection
• Organization Size: Consumers preference for solutions that offer extensive customization options to cater to their unique workflows
• Industry Vertical: Proliferation use of B2B payment across various industries

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the B2B Payments Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the B2B Payments Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Nuvei Launches Upgraded Solution for B2B Payments in Canada

Nuvei Corporation, a Canadian fintech company, has launched an enhanced payment solution for B2B transactions within Canada. With this new solution, Nuvei customers access various payment processing capabilities, including Card-Not-Present and account-to-account processing, Level 3 processing, and Nuvei's proprietary AR solution that seamlessly integrates with their ERP system. By leveraging this comprehensive payment solution, businesses can optimize their financial operations, enhance efficiency, and drive growth.

Mastercard and Oracle Partner to Automate B2B Payments

Mastercard and Oracle Corporation have partnered to streamline B2B payments for enterprise customers by incorporating Mastercard's virtual card platform into Oracle Fusion Cloud ERP. This partnership aims to tackle common challenges companies face, such as managing disparate data, systems, and processes when making commercial payments. With Mastercard's virtual card technology, Oracle aims to facilitate secure connectivity and information sharing among all trading parties, simplifying end-to-end financial transactions for corporate customers.

Two Raises 19.4 Million for Global B2B Payments Solution

Two AS, a FinTech company, has raised USD 19.4 million for its B2B payments solution. Through this funding, the company's innovative solution aims to revolutionize B2B payments, providing businesses with a seamless and efficient platform, enhancing its offering, and driving growth in the industry.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the B2B Payments Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the B2B Payments Market, highlighting leading vendors and their innovative profiles. These include American Express Company, Ant Group Co., Ltd., Bank of America Corporation, Block Inc., Bottomline Technologies Inc., Capital One Financial Corporation, Citigroup Inc., Coupa Software Inc., JPMorgan & Chase Co., Mastercard Inc., Payoneer Inc., PayPal Holdings, Inc., Paystand, Inc., Ramp Business Corporation, Rapyd Financial Network Ltd., Square, Inc., Stripe, Inc., Tipalti Inc., TransferWise Ltd., Visa Inc., and Wise Payments Limited.

Market Segmentation & Coverage

This research report categorizes the B2B Payments Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Type
• Cross-Border
• Domestic
• Payment Method
• Credit Cards
• Digital Wallets
• Electronic Funds Transfer
• Wire Transfers
• Organization Size
• Large Enterprises
• Small & Medium Enterprises
• Industry Vertical
• Financial Services
• Government
• Healthcare
• Manufacturing
• Retail

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year