B2B Payments Market 2022 by Manufacturers, Regions, Type and Application, Forecast to 2030

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%.

The rapid expansion of worldwide trade due to increasing import and export of products and services is the main factor driving the growth of the global B2B Payments market. Also noteworthy are the B2B payment system's quick digitalization and automation, improvements in transparency throughout B2B Payments, and the rising collaboration between B2B payment companies and FinTech behemoths. The growing use of technology in B2B Payments, the rapid growth of regional SMEs, and the involvement of medium-sized businesses in significant transactions are some of the factors that will support the market's expansion in the years to come.

In the upcoming years, it is projected that the growing trend toward digitalized payments among businesses and numerous government measures to promote B2B payments would open up new prospects for the global B2B Payments industry. Additional factors driving the market's expansion in the coming years include the growing trend of real-time payments, rising cloud adoption, rising smartphone penetration, expanding B2B e-commerce sector, advancements in business process automation, rising urbanisation, and rising cross-border payments. The market will expand over the projected period as a result of expanding international trade and an increase in cross-border transactions involving numerous suppliers, wholesalers, retailers, and companies.

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The conventional segment dominated the market over the predicted period in terms of payment mechanism.

The majority of businesses, including B2B organisations, choose traditional payment methods including bank wire transfers, bank debit cards, and checks. The primary benefit of a firm paying traditionally is that transaction costs are kept to a minimal and there are no yearly fees, unlike with a line of credit. Cash may be accepted by vendors in certain circumstances.Credit cards, along with terms and mobile wallets, are B2B businesses' top choices when it comes to B2B e-commerce. Companies are now more receptive to alternate payment methods than they were in the past. The digital payment system is expected to expand quickly in the upcoming years due to rapid technical advancement, increased data security, and increased theft prevention.

Covid-19 Impact on B2B Payments Market:
Global B2B Payments Market Overview for COVID-19 Outbreak This study will give you a comprehensive point of view if you are currently involved in the COVID-19 Outbreak-Global B2B Payments industry or if you intend to be. You must maintain up-to-date knowledge of the market, including its major players, product types, and applications (such as BFSI, healthcare, energy and electricity, tourism and transportation, retail, government/public sector, and other). We may customise our services to meet your demands if you need reports that are broken down by region or country or if you have a distinct group of players or manufacturers depending on geography.

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.

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
• BFSI
• Others

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.

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