B2B Payments Market Size, Industry Analysis Report By Payment type (Domestic Payments, Cross-border Payments), By Enterprise Size (Large Enterprise, Medium Sized Enterprises, Small-sized Enterprises), By Payment Mode (Traditional, Digital), By Industry Vertical (Manufacturing, IT and Telecom, Metals and Mining, Energy and Utilities, BFSI) & Region – Forecasts

  • 1970-01-01
  • 243
  • Banking & Finance
Global B2B Payments Market: Description

Business-to-business (B2B) payment involves the transaction of value denominated in currency from buyer to supplier for good or services supplied in the market.
It benefits firms with easier payment process and accelerates transfers of funds.

Furthermore, B2B payments between two entities are influenced by a number of variables, such as frequency, volume, sector, and interest charges, which does not impact customer payments.
With an increased export & import of goods & services worldwide, the expansion of trades across the globe has accelerated the demand for B2B payments among firms.

Global B2B Payments Market: Overview
Global B2B Payments Market valued at US $1072.09 Billion in 2022 is anticipated to reach a value of US $2029.26 Billion in 2030, growing at a CAGR of 8.30%.

At present, there is a rise in export and import of goods and services across the globe, which can be accredited to numerous efforts undertaken by governing authorities to reduce trade barriers.
This represents one of the key factors driving the market. Moreover, businesses of different industry verticals are focusing on global expansion.
This, coupled with the development of small and medium-sized enterprises (SMEs) around the world, is propelling the growth of the market.

In addition, there is an increase in the utilization of the automated clearing house (ACH) in B2B payments as it is relatively faster and more efficient.

Key Trends of Global B2B Payments Market:

Growth and Expansion of Businesses

The growth of a business depends on the quality of goods and services provided by the firm. Therefore, companies need to have a strong relationship with the suppliers of goods and services that the firm sells to grow and compete in the market. Maintaining a strong relationship with the supplier means having a better cash flow among the business parties, including wholesalers, retailers, and supply chain managers. Companies are continuously maintaining a stable B2B payment channel to get a better and faster supply of goods and services.

Digitalization of the Payment System

Digital B2B payments are overtaking traditional paper checks and cash payment processes, as business owners want real-time updates of the payment transactions. Businesses are demanding from their marketplaces and third-party providers to offer digital systems and payment options. Furthermore, digitalization reduces trade barriers and payment frictions and makes B2B payment possible for paying vendors globally. In addition, digitalization provides transparency in terms of transactions among businesses and reduces the risk associated with B2B payments.

Segmental Analysis of Global B2B Payments Market:

Based on Payment type
• Domestic Payments
• Cross-border Payments

Based on Enterprise Size
• Large Enterprise
• Medium Sized Enterprises
• Small-sized Enterprises

Based on Payment Mode
• Traditional
• Digital

Based on Industry Vertical
• Manufacturing
• IT and Telecom
• Metals and Mining
• Energy and Utilities
• Others

Geographical Analysis of B2B Payments Market:
The Global B2B Payments Market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa.

The B2B payments market was dominated by Asia-Pacific, and is expected to maintain this trend during the forecast period. This is attributed to increase in adoption of virtual card accounts among the commercial line businesses in the developing nations of Asia-Pacific. In addition to this, growing adoption of advance payment system among the business and growing presence of major players of the market drives the growth of the B2B payments market in this region.

Competitive Landscape:
American Express Company, Bank of America Corporation, Capital One, Citigroup Inc., JPMorgan Chase & Co., Mastercard Inc., Payoneer Inc., PayPal Holdings Inc., Paystand Inc., Stripe Inc., Visa Inc. and Wise Payments Limited.

Scope of the report:
Global B2B Payments Market: Historical Years- 2018-2021
Global B2B Payments Market: Forecast Years- 2022-2030
Global B2B Payments Market USD value in 2022- $1072.09 Billion
Global B2B Payments Market USD value in 2030- $2029.26 Billion
Global B2B Payments Market CAGR- 8.30%

Segments Covered- payment ode, payment type, enterprise size, industrial vertical and region

Regions Covered-
• North America (US, Mexico, Canada)
• Europe (UK, Spain, Italy, Russia, Germany, France)
• Asia-pacific (India, China, Australia, Japan, South Korea)
• Latin America (Brazil, Argentina, Colombia)
• Middle East and Africa (UAE, Saudi Arabia, South Africa)

Key Players: American Express Company, Bank of America Corporation, Capital One, Citigroup Inc., JPMorgan Chase & Co., Mastercard Inc., Payoneer Inc., PayPal Holdings Inc., Paystand Inc., Stripe Inc., Visa Inc. and Wise Payments Limited.

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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).


The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.

Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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