COVID Impact On Global B2B Payment Market 2020-2025

After COVID-19, most of the businesses are severely affected, for safety concerns, people choose to do online transactions and this will help the market to grow digitally if businesses start to use digital payments and move with the phase.

Global B2B payments market is expected to be $38 trillion by end of 2020 and expected register with CAGR of 10%. So, looking at the amount accounted in B2B market, it is no mystery that speed is the key for digital market growth in the financial world.

Technological shift towards digitalization, growing consumer’s preference for instant and real time payments, will help the market to grow.

Due to highly competitive market, collaboration between digital payment players and cross border payment providers has led to an increase in quick and cheap digital payments. Across

Online card payments and mobile wallets have been the digital alternatives for payment of goods and services. Digital payments have the benefit of quick and easy integration and lowering the processing cost for the users, and a better cashflow for the business.

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To let the market, grow digitally, government needs to invest in the cybercrime system and reduce the risk and this in turn will help businesses to adopt digital payments.

B2B payment transaction market is highly competitive as major players are providing various cash back offers and discounts on transactions in order to attract more customer base.

Reducing human errors and increasing efficiency and better cash flow for the business is the key focus of any business. AI and machine learning helps with fraud detection and prevention of cybercrime.

The world is driven by innovation, infrastructure building and regulation. All of which, in turn, makes B2B payments faster, better, cheaper and more relevant to look at as a primary business lever than ever before.

Banks inefficiencies are opening doors for non-bank players and new infrastructure demands in not limited to domestic payments. Non-bank payments are dominating domestic market, due to its ease of online transaction and the applications available for the businesses are so wide to explore and makes it easy for the cashflow in the business.

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COMPANIES PROFILED
American Express Co
Bottomline Technologies
Ant Financial Services
Coupa Software
JP Morgan Chase & Co
Mastercard Inc

THIS B2B PAYMENT MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS
1. B2B Payment Market size and Forecast , by region, by application
2. Average B-2-B price for B2B Payment Market, by region, per user
3. Technology trends and related opportunity for new B2B Payment Market tech suppliers
4. Market share of leading vendors, by region,
5. Coronavirus impact on B2B Payment Market earnings

Media Contact
Company Name: Mobility Foresights
Contact Person: Kunal Roy
Email: sales@mobilityforesights.com
Phone: +1-315-675-4056
Address: P3&P4, HAL 3rd Stage
City: Bangalore
State: Karnataka

Company Name: Mobility Foresights
Contact Person: Kunal Roy
Email: sales@mobilityforesights.com
Phone: +1-315-675-4056
Address: P3&P4, HAL 3rd Stage
City: Bangalore
State: Karnataka

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This release was published on openPR.