B2B Payments Market By Payment Type (Domestic Payments, Cross-border Payments), By Enterprise Size (Large Enterprises, Medium-sized Enterprises, Small-sized Enterprises), By Payment Method (Bank Transfer, Cards, Others), By Industry Vertical (Manufacturing, IT and Telecom, Metals and Mining, Energy and Utilities, BFSI, Government Sector, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Business-to-business (B2B) payments is an inter-commerce exchange that does not include a consumer. It typically includes businesses, such as corporations, wholesalers, retailers, and start-ups. B2B payments is executed between two companies that involve in trading at the domestic or international level. Paper checks still hold a large part of the payments space, however, the recent trend of automation led to the advancement of digital B2B payments solutions that are a more effective form of financial services. This B2B method results in faster issuing, receiving, and processing of payments and facilitates significantly improved positive cash flow. Moreover, the advancement and growth of the financial service sector and the increasing alliance of dedicated companies in payment technology contributed to a significant rise in the adoption of the B2B payments market.
The rapid digitalization & automation in the B2B payments system has accelerated its demand among business owners drives the growth of the B2B payments market. Moreover, the growth of global trade, strategies to expand the business sector, and surge in cross-border transactions involving the number of suppliers, wholesalers, retailers, and businesses are boosting the B2B payments market size. However, an increase in fraud in business payment, as well as discontinuations of numerous businesses due to the outbreak of the global COVID-19 pandemic restrict the growth of the market. On the contrary, the advancements in way of digitalization and automation to bring transparency across B2B payments and increase in partnership among B2B payments players & FinTech giants are expected to offer remunerative opportunities for expansion of the market during the forecast period.
The B2B payments market is segmented into payment type, enterprise size, payment method, industry vertical, and region. By payment type, the market is bifurcated into domestic payments and cross-border payments. By payment method, the market is divided into bank transfer, cards, and others. By enterprise size, it is segregated into large enterprises, medium-sized enterprises, and small-sized enterprises. By industry vertical, it is fragmented into manufacturing, IT & telecom, metals & mining, energy & utilities, BFSI, government sector and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the B2B payments market are American Express, JPMorgan & Chase Co., Mastercard, Payoneer Inc., PayPal Holdings, Inc., Paystand, Inc., Square, Inc., Stripe, TransferWise Ltd., and Visa Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the B2B payments market analysis from 2021 to 2031 to identify the prevailing B2B payments market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the B2B payments market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global B2B payments market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Payment Type
Domestic Payments
Cross-border Payments
By Enterprise Size
Large Enterprises
Medium-sized Enterprises
Small-sized Enterprises
By Payment Method
Bank Transfer
Cards
Others
By Industry Vertical
Manufacturing
IT and Telecom
Metals and Mining
Energy and Utilities
BFSI
Government Sector
Others
By Region
North America
U.S.
Canada
Europe
France
Italy
Spain
Rest Of Europe
UK
Germany
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest Of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
American Express
JPMorgan & Chase
Mastercard
Payoneer Inc.
PayPal Holdings, Inc.
Paystand Inc.
Square, Inc.
Stripe
TransferWise Ltd
Visa Inc.
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