B2B Payment Market Research Report By Deployment Mode (On-Premise, Cloud), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Industry Vertical (Healthcare, Manufacturing, Retail, Technology, Financial Services), By Payment Type (Electronic Funds Transfer (EFT), Automated Clearing House (ACH), Credit/Debit Card, Virtual Credit Card), By Functional Usage (Accounts Payable (AP) Automation, Accounts Receivable (AR) Automation, Supplier Management, Fraud Detection) and By Regional (North America, Europe, Sou

Global B2B Payment Market Overview:

B2B Payment Market Size was estimated at 4.5 (USD Billion) in 2022. The B2B Payment Market Industry is expected to grow from 5.4 (USD Billion) in 2023 to 9.7 (USD Billion) by 2032. The B2B Payment Market CAGR (growth rate) is expected to be around 15.6% during the forecast period (2023 - 2032).

Key B2B Payment Market Trends Highlighted

The B2B payments market is experiencing significant growth, driven by factors such as the rise of e-commerce, the increasing adoption of digital technologies, and the need for greater efficiency and transparency in financial transactions. Key market drivers include the demand for real-time payments, the integration of artificial intelligence (AI) and machine learning (ML) into payment platforms, and the growing popularity of embedded finance. As businesses seek to streamline their operations and improve their cash flow, the adoption of B2B payment solutions is increasing. Recent trends in the B2B payments market include the emergence of open banking and the proliferation of alternative payment methods, such as virtual cards and cryptocurrencies. The use of data analytics to improve payment operations and the growing focus on sustainability is also shaping the market landscape.

 Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

B2B Payment Market Drivers

Rising Adoption of Digital Technologies

The most significant development evident in the B2B payment arena is that the way industries make payments is changing rapidly, with digital technology becoming more popular. Businesses are using various innovations, such as cloud platforms and mobile payments, among others, to help in payment processes. It is also apparent that this trend will continue as more businesses try to improve their payment processes for better efficiency, reduction of cost as well as better security. As per a report on the B2B Payment Market Industry, the observed trend results in this industry growing from USD 204.9 billion in 2023 to USD 516.0 billion in 2032 with a CAGR of 10.81% during the years in consideration. One of the driving forces behind this development is the increasing use of digital technologies.

Growing Demand for Cross-Border Payments

There is an extreme tendency in business globalization that results in an increase in cross-border payments demand. Therefore, businesses now more than ever need suitable B2B payment solutions that can execute their payments quickly, safely, and in a cost-effective way. In other words, there is a high demand for B2B payment solutions in the global market and the B2B Payment Market Industry is going to experience significant expansion in the future years.

Government Regulations and Compliance

The requirements of compliance and government regulations are the other factors that are responsible for the growth of B2B payment markets. Many governments ensure that regulations and their compliance must be secure and transparent. So it is clear that due to these factors demand for B2B payment solutions is higher. The B2B Payment Markets Industry will benefit due to increasing compliance and regulations.

B2B Payment Market Segment Insights

B2B Payment Market Deployment Mode Insights

The B2B Payment Market is segmented into On-Premise and Cloud deployment modes. The cloud segment is expected to grow at a higher rate than the On-Premise segment during the forecast period. The growth of the cloud segment can be attributed to the increasing adoption of cloud-based solutions by companies of all sizes. Cloud-based solutions have a number of advantages over On-Premise solutions, including lower costs, greater flexibility, and scalability. As a result, companies are increasingly moving their B2B payment systems to the cloud. In 2023, the On-Premise segment held a higher share of the B2B Payment Market revenue. However, the Cloud segment is expected to grow at a CAGR of 12.5% during the forecast period and is expected to hold a higher share of the market by 2032. Some of the key drivers of the B2B Payment Market include the increasing adoption of digital payments, the growing demand for efficient and secure payment processing solutions, and the rise of e-commerce. In addition, the increasing adoption of cloud-based solutions and the growing awareness of the benefits of B2B payment automation are also driving the market.

The B2B Payment Market is a highly competitive market with several key players. Some of the major players in the market include PayPal, Stripe, Adyen, Amazon Pay, and FIS. These players offer a wide range of B2B payment solutions, including payment gateways, merchant accounts, and fraud prevention services. The B2B Payment Market is expected to grow at a moderate pace in the coming years. The market is expected to be driven by factors such as the increasing adoption of digital payments and the growing demand for efficient and secure payment processing solutions. In addition, the rise of e-commerce and the increasing adoption of cloud-based solutions are also expected to drive the market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

B2B Payment Market Organization Size Insights

The organization size segment of the B2B Payment Market is divided into small and medium-sized enterprises and large enterprises. Due to the growing adoption of digital payment solutions among SMEs to streamline their operations and optimize cash flow, this segment is forecast to constitute the larger share of the market by 2024. Meanwhile, the large enterprises segment is expected to be characterized by a higher growth rate throughout the considered period since these organizations require payment solutions capable of handling complex deals and integrating with their existing systems. Furthermore, small and medium-sized enterprises will account for in terms of the B2B Payment Market revenue and reach $124.3 billion by 2024, whereas large enterprises will represent and reach $80.6 billion by the same year.

B2B Payment Market Industry Vertical Insights

The B2B Payment Market segmentation by Industry Vertical offers valuable insights into the industry's specific requirements and preferences. Among the key segments, Healthcare is anticipated to hold a significant market share in 2023, driven by the increasing adoption of digital payment solutions to streamline healthcare transactions. The Manufacturing segment is projected to witness notable growth, fueled by the adoption of B2B payment solutions to improve supply chain efficiency and reduce costs. The Retail segment is expected to grow steadily, driven by the expansion of e-commerce and the need for seamless B2B payment processes. The Technology segment is poised for significant growth, owing to the rising demand for cloud-based B2B payment platforms and the adoption of innovative payment technologies. Financial Services is another key segment, benefiting from the growing adoption of digital payment solutions to enhance customer convenience and security.

B2B Payment Market Payment Type Insights

The B2B Payment Market is segmented by Payment Type into Electronic Funds Transfer (EFT), Automated Clearing House (ACH), Credit/Debit Card, and Virtual Credit Card. Among these, Electronic Funds Transfer (EFT) held the largest market share in 2023, accounting for over 40% of the B2B Payment Market revenue. EFT is a popular payment method due to its low transaction fees, ease of use, and security. Automated Clearing House (ACH) is another widely used payment type, particularly for high-value transactions. Credit/Debit Card and Virtual Credit Card are gaining popularity due to their convenience and security features. The B2B Payment Market is expected to grow significantly in the coming years, driven by factors such as the increasing adoption of digital payments, the growing popularity of e-commerce, and the increasing need for efficient and secure payment methods.

B2B Payment Market Functional Usage Insights

Functional Usage Segment Insight and Overview The B2B Payment Market exhibits significant growth potential across various functional usage segments. Accounts Payable (AP) Automation segment is expected to witness substantial market growth, owing to the increasing adoption of automated solutions to streamline payment processes and reduce operational costs. Similarly, the Accounts Receivable (AR) Automation segment is gaining traction as businesses seek to improve cash flow management and enhance customer satisfaction. Supplier Management segment plays a crucial role in managing supplier relationships, optimizing procurement processes, and reducing fraud risks, contributing to the segment's growth. Fraud Detection segment is also gaining prominence as businesses prioritize the security of their financial transactions, driving the demand for advanced fraud detection and prevention solutions. The B2B Payment Market is expected to continue its growth trajectory, with these functional usage segments contributing significantly to the overall market revenue and segmentation in the coming years.

B2B Payment Market Regional Insights

Regionally, North America held the largest market share in 2023, accounting for 38.4% of the global revenue. The region's dominance can be attributed to the presence of a large number of established businesses and a well-developed financial infrastructure. Europe accounted for the second-largest share, with a market value of USD 64.2 billion in 2023. The region's growth is driven by the increasing adoption of digital payment solutions and government initiatives promoting cashless transactions. APAC is projected to witness the highest growth rate during the forecast period, with a CAGR of 12.5%. The region's growth is driven by rising internet and smartphone penetration, along with the increasing adoption of e-commerce and digital payment methods. South America and MEA are expected to experience steady growth, with market values of USD 24.1 billion and USD 19.3 billion, respectively, by 2032.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

B2B Payment Market Key Players And Competitive Insights

One of the critical aspects of the B2B Payment Market industry is the struggle of major players to provide leading companies with the solutions their business demands. They frequently need to stay in the lead and supply their customers with the most advanced services promoting their order payment. The leading B2B Payment Market players often invest great funds in the improvement and development of their instruments and technologies. The B2B Payment Market industry stays dynamic, and the number of both providers and their customers is enormous. Besides, the picture is also highly affected by multiple partnerships and acquisitions that are carried out in the spheres. The B2B Payment Market development is enabled by the tendency of the growing adoption of cloud-based technology solutions. Real-time payments are also gaining popularity, and several up-to-date security features are also emerging. In the context of such specifications, constant improvements in the field of user experience and intuitive navigation are critical. The need for focusing on security features is strict, as well as the facilitation of necessary and easy integration of instruments and applications. Each of these innovations and tendencies is a critical feature of the modern B2B Payment Market industry.

One of the examples from the existing field of competition is the B2B Payment Market player PayPal, which possesses a great share of the market and is capable of serving various small and large businesses all over the world. The providers deliver a great variety of solutions, such as invoicing, payment processing, and working capital financing. The advantages are obvious, including a significant number of merchants and customers who can be involved in the process. PayPal is expanding it’s services in a constant way, acquiring other companies and fighting for the leading role in the industry. A no less powerful competitor is Stripe, one of the up-to-date and convenient services for achieving various payment purposes in businesses. It is oriented on developers and their needs, and many instruments are provided to be integrated into the website. Up-to-date and innovative products are easy to use, transparent and provide great opportunities for ordering online and offline. Its successful strategy includes partnerships and constant product improvement.

Key Companies in the B2B Payment Market Include

• Visa


• Klarna


• JPMorgan Chase


• Worldpay


• Square


• Adyen


• Paypal


• Mercadopago


• Stripe


• American Express


• Citi


• Mastercard


• Airwallex


• com

B2B Payment Industry Developments

Recent developments in the B2B Payment Market include the increasing adoption of real-time payments and the emergence of embedded finance solutions. Real-time payments enable businesses to make and receive payments instantly, improving cash flow and reducing operational costs. Embedded finance solutions, such as buy now, pay later (BNPL) options, are becoming increasingly popular as they offer greater flexibility and convenience to businesses. Additionally, the growing adoption of artificial intelligence (AI) and machine learning (ML) is transforming the B2B payment landscape by automating tasks, improving fraud detection, and personalizing payment experiences. These trends are expected to continue driving the growth of the B2B payment market in the coming years.

B2B Payment Market Segmentation Insights

B2B Payment Market Deployment Mode Outlook

• On-Premise


• Cloud

B2B Payment Market Organization Size Outlook

• Small and Medium-sized Enterprises (SMEs)


• Large Enterprises

B2B Payment Market Industry Vertical Outlook

• Healthcare


• Manufacturing


• Retail


• Technology


• Financial Services

B2B Payment Market Payment Type Outlook

• Electronic Funds Transfer (EFT)


• Automated Clearing House (ACH)


• Credit/Debit Card


• Virtual Credit Card

B2B Payment Market Functional Usage Outlook

• Accounts Payable (AP) Automation


• Accounts Receivable (AR) Automation


• Supplier Management


• Fraud Detection

B2B Payment Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa