B2B payments market

Global B2B Payments Market by Payment Types (Domestic and Cross-border), Payment Modes (Digital and Traditional), Enterprise Sizes (Large Enterprises, Medium Enterprises, and Small Enterprises), Industry Verticals (IT & Telecom, Manufacturing, Metals & Mining, BFSI, Energy & Utilities, and Others), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

  • Report ID: BFSI-4022
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 167
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The global B2B payments market size was valued at around USD 903 billion in 2021 and is estimated to reach USD around 1620 billion by 2030, expanding at a CAGR of around 10.18% during the forecast period, 2022 – 2030. The growth of the market is attributed to increasing adoption of digital mode of payment in B2B payments.


B2B payments market Summary

Business-to-Business (B2B) payments refer to form of transactions conducted between businesses such as manufacturers, wholesalers, and retailers. B2B payments tend to occur in a supply chain, where one business purchases raw materials from another business to use in its manufacturing process. Paper checks, bank wire transfers, credit cards, and cash are common methods of B2B payments, which are usually preferred by companies, due to the large sum of amount paid in such transactions. B2B payments are either one time or recurring payments that are complex and require a long period of time to receive approval or to settle. These traditional modes of payment, though popular among companies, face several problems such as cash or check frauds, long process period, and others.

The COVID-19 pandemic has altered the global B2B payments market significantly. Enterprises and companies are adopting digital B2B payments rapidly, as it does not require payments to be handled physically and payments can be done remotely. Increasing usage of technology, growing number of small and medium-sized enterprises, and rising import and export of goods and services across the globe fueled the global B2B payments market.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing export & import of goods and services and expansion of trade across the globe are estimated to fuel the market during the forecast period.
  • Growing number of small and medium-sized enterprises, which engage in large trades, are expected to drive the market.
  • Increasing usage of technology in B2B payments boosts the market.
  • Lack of global standards for cross-border B2B payments are anticipated to hamper the growth of the market in the coming years.
  • Increasing number of cyber-attacks on digital payment modes are estimated to hinder the growth of the market.
  • Increasing utilization of Automate Clearing House (ACH), a fast and efficient electronic fund transfer system, in B2B payments is expected to create lucrative opportunities for key market players.
  • Growing employment of automation in B2B payment systems to form a network of various suppliers, retailers, and wholesalers offer growth opportunities to key market players.

Scope of the Report

The report on the global B2B payments market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Global B2B Payments Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2022–2030

Segmentation

Payment Types (Domestic and Cross-border), Payment Modes (Digital and Traditional), Enterprise Sizes (Large Enterprises, Medium Enterprises, and Small Enterprises), and Industry Verticals (IT & Telecom, Manufacturing, Metals & Mining, BFSI, Energy & Utilities, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Mastercard, Inc.; PayPal Holdings, Inc.; Capital One Financial Corporation; The American Express Company; The Bank of America Corporation; Visa, Inc.; Pioneer, Inc.; Block, Inc.; Wise Payments Limited; Stripe, Inc.; JPMorgan Chase & co.; Citigroup, Inc.; Paystand, Inc.; and Others

Market Segment Insights

Cross-border payments segment holds a large market share

Based on payment types, the market is bifurcated into domestic payment and cross-border payment. The cross-border segment is expected to drive the market during the forecast period, as it contributes to the rapid growth of global trade. Several financial institutions and payment systems develop cross-border payments to facilitate rapid financial transactions to aid in the expansion of the market.

Traditional payment methods segment dominates the market

On the basis of payment modes, the market is divided into digital payment mode and traditional payment mode. The traditional payment mode segment is projected to hold a large share of the market during the forecast period, as companies prefer to use traditional payment methods such as bank wire transfers, checks, cards, and others. Additionally, companies are slowly adopting digital payment methods such as mobile wallets, which is expected to expand the digital payment mode segment during the forecast period.

Large enterprises segment to boost the market

Based on enterprise sizes, the market is segregated into large enterprises, medium enterprises, and small enterprises. The large enterprises segment is expected to dominate the market during the forecast period, as large enterprises are increasingly adopting B2B payment methods to enhance their market value. It surges sales of goods and services among businesses via online channels. Moreover, the small enterprises segment is anticipated to expand during the forecast period, due to rising cross-border transactions among small enterprises across the globe.


B2B payments market by Enterprise Size

BFSI segment is expected to expand at a rapid pace

On the basis of industry verticals, the market is divided into IT & telecom, manufacturing, metals & mining, BFSI, energy & utilities, and others. The Banking, Financial Services, and Insurance (BFSI) segment is estimated to expand at a significant CAGR during the forecast period, due to increasing demand for digital payment modes for domestic and cross-border transactions. Rapid digitization in financial institutions and banks is expected to fuel the market during the forecast period.

Asia Pacific dominates the market

Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is estimated to hold a large share of the market, due to increasing adoption of online payment solutions among small and medium-sized businesses in emerging economies of countries such as India and China. Growing presence of key market players in Asia Pacific drives the market in the region.


B2B payments market by Regions

Segments

The global B2B payments market has been segmented on the basis of

Payment Types
  • Domestic
  • Cross-border
Payment Modes
  • Digital
  • Traditional
Enterprise Sizes
  • Large Enterprises
  • Medium Enterprises
  • Small Enterprises
Industry Verticals
  • IT & Telecom
  • Manufacturing
  • Metals & Mining
  • BFSI
  • Energy & Utilities
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Mastercard, Inc.
  • PayPal Holdings, Inc.
  • Capital One Financial Corporation
  • The American Express Company
  • The Bank of America Corporation
  • Visa, Inc.
  • Pioneer, Inc.
  • Block, Inc.
  • Wise Payments Limited
  • Stripe, Inc.
  • JPMorgan Chase & co.
  • Citigroup, Inc.
  • Paystand, Inc.
  • Others

Competitive Landscape

The global B2B payments market is highly competitive market with the presence of key players such as Mastercard, Inc.; PayPal Holdings, Inc.; Capital One Financial Corporation; The American Express Company; The Bank of America Corporation; Visa, Inc.; Pioneer, Inc.; Block, Inc.; Wise Payments Limited; Stripe, Inc.; JPMorgan Chase & co.; Citigroup, Inc.; Paystand, Inc.; and others, who use strategies such as mergers, acquisitions, collaborations, partnerships, and product launches to strengthen their hold on the market. For example, in May 2022, Mastercard, Inc. and Galileo Financial Technologies collaborated to accelerate digital transformation and improve access to financial opportunities to the underdeveloped countries in Latin America and the Caribbean. In April 2022, Mastercard, Inc. announced a collaboration with Microsoft to improve identity solutions to enhance online shopping experience and tackle digital fraud problems.

B2B payments market by Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. B2B payments Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. B2B payments Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. B2B payments Market - Supply Chain
  4.5. Global B2B payments Market Forecast
     4.5.1. B2B payments Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. B2B payments Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. B2B payments Market Absolute $ Opportunity
5. Global B2B payments Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. B2B payments Market Size and Volume Forecast by Types
     5.3.1. Domestic
     5.3.2. Cross-border
     5.3.3.  
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global B2B payments Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. B2B payments Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global B2B payments Demand Share Forecast, 2019-2026
7. North America B2B payments Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America B2B payments Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America B2B payments Market Size and Volume Forecast by Types
     7.4.1. Domestic
     7.4.2. Cross-border
     7.4.3.  
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America B2B payments Demand Share Forecast, 2019-2026
8. Latin America B2B payments Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America B2B payments Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America B2B payments Market Size and Volume Forecast by Types
     8.4.1. Domestic
     8.4.2. Cross-border
     8.4.3.  
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America B2B payments Demand Share Forecast, 2019-2026
9. Europe B2B payments Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe B2B payments Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe B2B payments Market Size and Volume Forecast by Types
     9.4.1. Domestic
     9.4.2. Cross-border
     9.4.3.  
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe B2B payments Demand Share Forecast, 2019-2026
10. Asia Pacific B2B payments Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific B2B payments Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific B2B payments Market Size and Volume Forecast by Types
     10.4.1. Domestic
     10.4.2. Cross-border
     10.4.3.  
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific B2B payments Demand Share Forecast, 2019-2026
11. Middle East & Africa B2B payments Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa B2B payments Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa B2B payments Market Size and Volume Forecast by Types
     11.4.1. Domestic
     11.4.2. Cross-border
     11.4.3.  
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa B2B payments Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global B2B payments Market: Market Share Analysis
  12.2. B2B payments Distributors and Customers
  12.3. B2B payments Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Mastercard, Inc.
     12.4.2. PayPal Holdings, Inc.
     12.4.3. Capital One Financial Corporation
     12.4.4. The American Express Company
     12.4.5. The Bank of America Corporation
     12.4.6. Visa, Inc.
     12.4.7. Pioneer, Inc.
     12.4.8. Block, Inc.
     12.4.9. Wise Payments Limited
     12.4.10. Stripe, Inc.
The global B2B payments market has been segmented on the basis of

Payment Types
  • Domestic
  • Cross-border
Payment Modes
  • Digital
  • Traditional
Enterprise Sizes
  • Large Enterprises
  • Medium Enterprises
  • Small Enterprises
Industry Verticals
  • IT & Telecom
  • Manufacturing
  • Metals & Mining
  • BFSI
  • Energy & Utilities
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Mastercard, Inc.
  • PayPal Holdings, Inc.
  • Capital One Financial Corporation
  • The American Express Company
  • The Bank of America Corporation
  • Visa, Inc.
  • Pioneer, Inc.
  • Block, Inc.
  • Wise Payments Limited
  • Stripe, Inc.
  • JPMorgan Chase & co.
  • Citigroup, Inc.
  • Paystand, Inc.
  • Others

The global B2B payments market is highly competitive market with the presence of key players such as Mastercard, Inc.; PayPal Holdings, Inc.; Capital One Financial Corporation; The American Express Company; The Bank of America Corporation; Visa, Inc.; Pioneer, Inc.; Block, Inc.; Wise Payments Limited; Stripe, Inc.; JPMorgan Chase & co.; Citigroup, Inc.; Paystand, Inc.; and others, who use strategies such as mergers, acquisitions, collaborations, partnerships, and product launches to strengthen their hold on the market. For example, in May 2022, Mastercard, Inc. and Galileo Financial Technologies collaborated to accelerate digital transformation and improve access to financial opportunities to the underdeveloped countries in Latin America and the Caribbean. In April 2022, Mastercard, Inc. announced a collaboration with Microsoft to improve identity solutions to enhance online shopping experience and tackle digital fraud problems.

B2B payments market by Key Players

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FAQ Section

Some frequently asked quetions about this report!

The market is estimated to register CAGR of around 10.18% during the forecast period.

The global B2B payments market size was valued at around USD 903 billion in 2021 and is estimated to reach USD around 1.62 trillion by 2030.

Increased export and import of goods and services across the globe, growing number of small and medium-size enterprises, and rising adoption of technology in B2B payment methods are expected to drive the market during the forecast period.

Mastercard, Inc.; PayPal Holdings, Inc.; Capital One Financial Corporation; and The American Express Company are some of the key players in the market.