Global B2B Payments Market Expected to Reach USD 2,189.0 Billion by 2033 - IMARC Group

December 09, 2024 | BFSI

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Global B2B Payments Market Statistics, Outlook and Regional Analysis 2025-2033

The global B2B payments market size was valued at USD 1,189.6 Billion in 2024, and it is expected to reach USD 2,189.0 Billion by 2033, exhibiting a growth rate (CAGR) of 7% from 2025 to 2033.

B2B Payments Market

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The growing adoption of digital payment platforms and the increasing automation of financial processes are accelerating the B2B payments market. In contrast, businesses are increasingly focusing on streamlining invoice management, reducing transaction processing times, and enhancing security to optimize their payment workflows. Also, the rising demand for seamless, cost-effective, and scalable solutions is encouraging key players to develop innovative platforms tailored to diverse industry needs. For example, Easebuzz launched a B2B payments and invoice management platform in partnership with NPCI Bharat BillPay Ltd. (NBBL) in September 2024. This platform offers interoperability, financing options, and advanced tools to simplify payment processes across various industries, showcasing how tailored solutions address specific pain points for businesses. At the same time, the hospitality sector, which relies on B2B transactions, is witnessing significant advancements to enhance operational efficiency. For instance, in September 2024, Mastercard, NTT DATA, and OneHotel launched a B2B payment solution for Thailand’s hotel industry. This innovative platform automates virtual card payments, eliminates manual reconciliation, and improves payment security, benefiting over 26,000 small-to-medium-sized accommodation operators dependent on online travel agents.

Moreover, global trade is a major driver for B2B payment innovations as businesses seek cross-border transaction solutions that are secure, efficient, and cost-effective. For instance, Visa and KOTRA announced the global trade payment platform (GTPP) in South Korea in September 2024. This platform simplifies trade settlements, automates processes, reduces costs, and enhances fraud prevention. The inclusion of major trading partners like Japan, Taiwan, and the United States highlights the importance of interoperability and streamlined operations in fostering international trade. Overall, these advancements reflect the B2B payments market’s evolution toward digitization and automation. Besides this, enhanced operational efficiency and scalable solutions that cater to diverse industries and global trade demands.

Global B2B Payments Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia-Pacific dominates the B2B payments market due to its rapid digital transformation and increasing adoption of advanced payment technologies.

North America B2B Payments Market Trends:

North America is shifting towards automated B2B payments, driven by digital transformation in businesses. Moreover, the U.S. leads in adopting real-time payment systems, enabling faster, more secure transactions. For example, the integration of payment platforms like Zelle among businesses facilitates seamless transactions. Also, enhanced data analytics and AI-driven fraud detection are significant trends reshaping the payment landscape in this region.

Europe B2B Payments Market Trends:

Europe is witnessing growth in cross-border B2B payment solutions, spurred by the adoption of the Single Euro Payments Area (SEPA). In addition to this, countries like Germany focus on streamlining international transactions and platforms, such as TransferWise, to enhance cost efficiency and transparency for businesses. Furthermore, the emphasis on compliance with PSD2 regulations and secure API integration fosters trust and facilitates innovation in B2B payment processes across the region.

Asia-Pacific B2B Payments Market Trends:

Asia-Pacific is the dominating region in the market due to its rapid digital transformation and booming e-commerce sector. The region benefits from the growing number of SMEs, the rising cross-border trade, and government initiatives promoting cashless economies. In April 2024, Nium, a cross-border payments platform, and Thredd, a payments processor, expanded their fintech partnership, enabling Nium to issue virtual cards in APAC. This expansion focuses on innovative solutions, particularly for B2B travel payments, which cater to its dynamic and interconnected markets. APAC remains at the forefront of B2B payments, with businesses prioritizing efficiency and security.

Latin America B2B Payments Market Trends:

Latin America is focusing on improving financial inclusion in B2B payments, with Brazil leading the shift to digital invoicing and instant payment systems like PIX. On the contrary, businesses benefit from reduced dependency on traditional banking channels. For example, the rise of fintech platforms, such as Nubank, provides simplified and accessible payment options, thereby enabling smoother transactions within the regional market.

Middle East and Africa B2B Payments Market Trends:

The Middle East and Africa is adopting blockchain in B2B payments to enhance security and transparency. The UAE, for instance, integrates blockchain-based systems in trade finance. Meanwhile, platforms like RippleNet streamline international payments, making them faster and more cost-effective. Also, the region’s focus on innovation aligns with its aim to attract global trade and investment while fostering business growth.

Top Companies Leading in the B2B Payments Industry

Some of the leading B2B payments market companies include 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, among many others. In April 2024, Paystand, a blockchain-enabled B2B payments network, acquired spend management software provider Teampay. The transaction creates a B2B payments powerhouse whose continued goal is to revolutionize payments by expanding the largest, fastest, and most cost-efficient B2B payments network.

Global B2B Payments Market Segmentation Coverage

On the basis of the payment type, the market has been bifurcated into domestic payments and cross-border payments, wherein domestic payments represent the most preferred segment. Domestic payments are preferred by various individuals for their simplicity and familiarity, as they generally adhere to the national banking and payment infrastructure.
Based on the payment mode, the market is categorized into traditional and digital, amongst which traditional dominates the market. The traditional mode of payment remains the dominating segment in the market, representing the conventional methods that have been utilized for several years.
On the basis of the enterprise size, the market has been divided into large enterprises and small and medium-sized enterprises. Among these, large enterprises exhibit a clear dominance in the market. They often have complex payment needs, including managing a high volume of transactions, dealing with diverse suppliers and partners, and demanding sophisticated financial systems.
Based on the industry vertical, the market is bifurcated into BFSI, manufacturing, IT and telecom, metals and mining, energy and utilities, and others, wherein manufacturing dominates the market. Manufacturers often engage in complex supply chain networks, making efficient B2B payments crucial.

Report Features	Details
Market Size in 2024	USD 1,189.6 Billion
Market Forecast in 2033	USD 2,189.0 Billion
Market Growth Rate 2025-2033	7%
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Payment Type Payment Mode Enterprise Size Industry Vertical Region
Payment Types Covered	Domestic Payments, Cross-Border Payments
Payment Modes Covered	Traditional, Digital
Enterprise Sizes Covered	Large Enterprises, Small and Medium Sized Enterprises
Industry Verticals Covered	BFSI, Manufacturing, IT and Telecom, Metals and Mining, Energy and Utilities, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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., Wise Payments Limited, etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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