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Global B2B Payments Market Size, Share, Growth, Forecast: By Payment Type: Cross-border Payments, Domestic Payments, Others; By Payment Method: Bank Transfer, Cards, Others; By End Use: Manufacturing, IT and Telecom, BFSI, Others; By Enterprise Size; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global B2B Payments Market Outlook
The global B2B payments market size reached a value of approximately USD 1.06 trillion in 2022. The market is further projected to grow at a CAGR of 9.60% between 2023 and 2028, reaching a value of USD 1.84 trillion by 2028.
Key Trends in the Market
A B2B (business-to-business) payment refers to a kind of monetary transaction between two businesses, such as corporations, retailers, wholesalers, or start-ups, in exchange for goods or services. These payments could be a recurring or one-time transaction between a supplier and a buyer. No consumer is involved in this inter-commerce transaction and these payments are done in exchange of services and goods supplied for a pre-determined value that is denominated in currency.
- The increasing import and export of services and goods around the globe due to various measures taken by the governments to reduce trade barriers is a major trend propelling the market growth.
- Rising adoption of automation across B2B payment systems for connecting and networking with retailers, suppliers, and wholesalers, among others is anticipated to positively influence the expansion of the global B2B payments market.
- The demand for B2B payment solutions is rising among large enterprises as these solutions aid them in enhancing their market value and boost the sales of services and goods through various online platforms.
Global B2B Payments Market Analysis
On the basis of payment type, the market is divided into cross-border payments and domestic payments, among others. Based on payment mode, the market is segregated into bank transfer and cards, among others. On the basis of end use, the market is classified into manufacturing, IT and telecom, metals and mining, energy and utilities, and BFSI, among others.
Based on enterprise size, the market is segmented into small enterprises, medium-sized enterprises, and large enterprises, among others. On the basis of region, the market is categorised into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global B2B payments market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- American Express Company
- Mastercard International Incorporated
- JPMorgan Chase & Co.
- Payoneer Inc.
- PayPal Pte. Ltd.
- Paystand, Inc.
- Stripe, Inc.
- Visa Inc.
- B2B Trade Payment Services AB.
- Tipalti Inc.
- Others
Market Share by Payment Type
By payment type, cross-border payments are expected to witness significant growth over the forecast period. Cross-border payments refer to transactions involving transfer of money between businesses and people from one country to another. These types of payments are carried out through correspondent banking network and financial institutions. Increasing trade and rising import and export of goods and services is further boosting the requirement for cross-border payments.
Market Share by Region
North America is anticipated to account for a significant portion in the global B2B payments market in the comping years. This is due to the strong presence of technological infrastructure in the region that allows businesses to make online payments. Additionally, increasing spendings by the governments of Canada and the United States on securing the transaction network are further expected to aid the expansion of the market for B2B payments in the North America region.
Competitive Landscape
American Express Company is a multinational financial services corporation that was founded in 1850 and is headquartered in New York, United States. The company specialises in merchant services, corporate card, and financial and network services, among others.
Mastercard International Incorporated is a financial services company that was established in 1966 and is based in New York, United States. The company specialises in innovative mobile payment solutions and global digital payments, among others.
JPMorgan Chase & Co. provides innovative financial solutions for corporations, consumers, and small businesses around the globe. JPMorgan was founded in 2000 and is headquartered in New York, United States.
Other major players in the B2B payments market include Payoneer Inc., PayPal Pte. Ltd., Paystand, Inc., Stripe, Inc., Visa Inc., B2B Trade Payment Services AB., and Tipalti Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Payment Type |
|
| Breakup by Payment Method |
|
| Breakup by End Use |
|
| Breakup by Enterprise Size |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global B2B Payments Market Analysis
8.1 Key Industry Highlights
8.2 Global B2B Payments Historical Market (2018-2022)
8.3 Global B2B Payments Market Forecast (2023-2028)
8.4 Global B2B Payments Market by Payment Type
8.4.1 Cross-border Payments
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Domestic Payments
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Others
8.5 Global B2B Payments Market by Payment Method
8.5.1 Bank Transfer
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Cards
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Others
8.6 Global B2B Payments Market by End Use
8.6.1 Manufacturing
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 IT and Telecom
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Metals and Mining
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Energy and Utilities
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 BFSI
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
8.6.6 Others
8.7 Global B2B Payments Market by Enterprise Size
8.7.1 Small Enterprises
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Medium-sized Enterprises
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Large Enterprises
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Others
8.8 Global B2B Payments Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America B2B Payments Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe B2B Payments Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific B2B Payments Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America B2B Payments Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa B2B Payments Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 American Express Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Mastercard International Incorporated
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 JPMorgan Chase & Co.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Payoneer Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 PayPal Pte. Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Paystand, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Stripe, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Visa Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 B2B Trade Payment Services AB.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Tipalti Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global B2B Payments Market: Key Industry Highlights, 2018 and 2028
2. Global B2B Payments Historical Market: Breakup by Payment Method (USD Trillion), 2018-2022
3. Global B2B Payments Market Forecast: Breakup by Payment Method (USD Trillion), 2023-2028
4. Global B2B Payments Historical Market: Breakup by Payment Method (USD Trillion), 2018-2022
5. Global B2B Payments Market Forecast: Breakup by Payment Method (USD Trillion), 2023-2028
6. Global B2B Payments Historical Market: Breakup by End Use (USD Trillion), 2018-2022
7. Global B2B Payments Market Forecast: Breakup by End Use (USD Trillion), 2023-2028
8. Global B2B Payments Historical Market: Breakup by Enterprise Size (USD Trillion), 2018-2022
9. Global B2B Payments Market Forecast: Breakup by Enterprise Size (USD Trillion), 2023-2028
10. Global B2B Payments Historical Market: Breakup by Region (USD Trillion), 2018-2022
11. Global B2B Payments Market Forecast: Breakup by Region (USD Trillion), 2023-2028
12. North America B2B Payments Historical Market: Breakup by Country (USD Trillion), 2018-2022
13. North America B2B Payments Market Forecast: Breakup by Country (USD Trillion), 2023-2028
14. Europe B2B Payments Historical Market: Breakup by Country (USD Trillion), 2018-2022
15. Europe B2B Payments Market Forecast: Breakup by Country (USD Trillion), 2023-2028
16. Asia Pacific B2B Payments Historical Market: Breakup by Country (USD Trillion), 2018-2022
17. Asia Pacific B2B Payments Market Forecast: Breakup by Country (USD Trillion), 2023-2028
18. Latin America B2B Payments Historical Market: Breakup by Country (USD Trillion), 2018-2022
19. Latin America B2B Payments Market Forecast: Breakup by Country (USD Trillion), 2023-2028
20. Middle East and Africa B2B Payments Historical Market: Breakup by Country (USD Trillion), 2018-2022
21. Middle East and Africa B2B Payments Market Forecast: Breakup by Country (USD Trillion), 2023-2028
22. Global B2B Payments Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 1.06 trillion in 2022.
The market is projected to grow at a CAGR of 9.60% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of2023-2028to reachUSD 1.84 trillion by 2028.
The major market drivers include rising cross border trading and increasing partnerships between B2B payment companies and fintech.
The key trends fuelling the growth of the market include increasing import and export activities, rising automation across B2B payment systems, and growing demand for B2B payment solutions among large enterprises.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The end uses of B2B payments include manufacturing, IT and telecom, metals and mining, energy and utilities, and BFSI, among others.
The key players in the global B2B payments market are American Express Company, Mastercard International Incorporated, JPMorgan Chase & Co., Payoneer Inc., PayPal Pte. Ltd., Paystand, Inc., Stripe, Inc., Visa Inc., B2B Trade Payment Services AB., and Tipalti Inc., among others.
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