B2B Payments Transaction Market Size, Share, Growth Analysis (By Payment Type: Domestic Payments, Cross-Border Payments; By Enterprise Size: Large Enterprises, Small and Medium Sized Enterprises; By Payment Mode: Traditional, Digital; By Industry Vertical: BFSI, Manufacturing, Metals & Mining, IT & Telecom, Energy & Utilities, Others) - Global Industry Analysis, Trends, Regional Outlook, and Forecast 2024 – 2033
The global B2B payments transaction market size was valued at USD 1.41 trillion in 2023 and is anticipated to reach around USD 3.53 trillion by 2033, growing at a CAGR of 9.39% from 2024 to 2033.
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The U.S. B2B payments transaction market size reached USD 410 billion in 2023 and is anticipated to be worth around USD 1,080 billion by 2033, poised to grow at a CAGR of 9.95% from 2024 to 2033.
North America dominated the B2B Payments Transaction market and accounted for the largest revenue share of 41.2% in 2020. The growth of the market in this region is mainly driven by the availability of advanced infrastructure that helps facilitate online payment. In addition to this, the high spending by the U.S. And Canada government on securing the transaction network, coupled with the availability of standard rules and regulations pertaining to online payment is further anticipated to encourage the growth of the market in this region.
On the other hand, Asia Pacific is projected to witness the fastest growth rate throughout the forecast period. The ongoing proliferation of the business-to-business eCommerce market as well as the surge in the adoption of financial technology in the region primarily drives the growth of the B2B Payments Transaction market. In addition to this, the region has witnessed a significant increase in penetration of smartphones and the internet, along with the high spending capacity of customers. This factor has considerably pushed demand for B2B payment transaction solutions in the country.
The Europe B2B payments transaction market size surpassed USD 440 billion in 2023 and is projected to reach USD 1,160 billion by 2033.
| Year | Market Size (USD Billion) |
| 2023 | 440 |
| 2024 | 500 |
| 2025 | 550 |
| 2026 | 600 |
| 2027 | 660 |
| 2028 | 730 |
| 2029 | 810 |
| 2030 | 890 |
| 2031 | 980 |
| 2032 | 1,070 |
| 2033 | 1,160 |
Growth of the global B2B payments transaction market is mainly driven by rapid expansion of trades across the globe due to an increased import and export of goods & services. Businesses are actively looking for dealing with various countries for their expansion, which boosts the cross-border business transactions. In addition to this, volume of total B2B payments has seen significant growth in past few years. For instance, it has been assessed that the volume totals of B2B payments is approximately $120 trillion per year worldwide. In addition to this, growth in number of online payment activities along with the government initiatives in developing countries for cashless economy boosts growth of the B2B payments transaction market.
Moreover, rapid trend among the domestic small and medium sized companies to engage in massive trades act as one of the key driving forces for growth of the B2B payments market.
Furthermore, integration of automation technology in B2B payment transaction is anticipated to create lucrative growth opportunities for the market growth. For instance, the paper checks are being completely replaced by electronic transfers as well as more advanced digital B2B payment solutions are being adopted which are more effective in terms of financial services.
| Report Highlights | Details |
| Growth Rate from 2024 to 2033 | CAGR of 9.39% |
| Market Size in 2023 | USD 1.41 Trillion |
| Market Size by 2033 | USD 3.53 Trillion |
| Largest Market | North America |
| Base year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Payment Type, Enterprise Size, Payment Mode, Industry Vertical |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, South America |
By Payment Type, in 2023, Domestic Payments dominated the market with around 65% share in terms of revenue of the total market. Growth of this segment is mainly attributed to an upsurge in a number of small and medium-sized enterprises in countries such as India and China that demand payment solutions. Such businesses are rapidly using payment solutions such as Fundbox Pay, PayPal, Square, QuickBooks, and Plastic.
However, cross-border payments segment is anticipated to generate high revenue in the years to come. In this type of transaction, the payee and the transaction recipient are based in different countries. Hence, rising import and export of goods & services fuel the growth of this segment.
By enterprise size, in 2023, large enterprises dominated the market with around 55% share in terms of revenue of the total market. The growth of this segment is mainly attributed to rising B2B payment transactions among large manufacturers and wholesalers. For instance, Samsung Electronics is one of the largest suppliers to Apple Inc. for the production of the iPhone. However, Apple Inc. holds B2B relationships with firms such as Panasonic, Intel, and semiconductor producer Micron Technology.
However, the small and medium-sized enterprises segment is expected to witness the highest growth rate during the forecast period.
By Payment Mode, in 2023, the traditional segment dominated the market with around 66% share in terms of revenue of the total market. This is on account of the current preference by large companies for traditional payments such as bank wire transfers. For instance, as per recent studies, when it comes to B2B E-Commerce, credit card was the first choice of B2B enterprises in 2023, followed by mobile wallets.
However, the digital payment mode segment is expected to witness the highest growth rate during the forecast period. The growth of this segment is mainly attributed to the ability of digital payment to free up time, money, and energy to grow and scale the business.
COVID-19 Impact
The COVID-19 pandemic has affected every segment of society, including individuals and businesses. However, amidst the COVID-19 pandemic crisis, various governments and regulatory authorities have mandated both public and private enterprises to embrace new practices of teleworking and maintaining social distance. In addition to this, the governments of all the countries have took precautions that have led to the temporary shutdowns around the globe. Business has faced significant financial losses amidst the implementation of lockdown as the production across the various industries was halted. In addition to this, several governments have imposed ban on exports as well as import during the pandemic. Such factors have hampered growth of the global market during the pandemic.
However, growth of the market is anticipated to witness acceleration in the year 2021 owing to the need for B2B players to adopt digital payments.
Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved payment solutions to meet payment demands among the businesses.
Furthermore, the market players are making efforts to create competitive technology solutions and to meet their clients’ international business needs. For instance, in November 2019, Citi, an American multinational investment bank and financial services corporation launched a cross-border platform to help its multinational clients manage the complexities in collecting cross border business-to-business payments, by digitization of the transaction process.
Segments Covered in the Report
By Payment Type
By Enterprise Size
By Payment Mode
By Industry Vertical
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global B2B Payments Transaction Market, By Payment
7.1. B2B Payments Transaction Market, by Payment Type, 2024-2033
7.1.1. Product Offering
7.1.1.1. Market Revenue and Forecast (2021-2033)
7.1.2. Cross-Border Payments
7.1.2.1. Market Revenue and Forecast (2021-2033)
Chapter 8. Global B2B Payments Transaction Market, By Enterprise Size
8.1. B2B Payments Transaction Market, by Enterprise Size, 2024-2033
8.1.1. Large Enterprises
8.1.1.1. Market Revenue and Forecast (2021-2033)
8.1.2. Small Enterprises
8.1.2.1. Market Revenue and Forecast (2021-2033)
8.1.3. Medium Enterprises
8.1.3.1. Market Revenue and Forecast (2021-2033)
Chapter 9. Global B2B Payments Transaction Market, By Payment Mode Type
9.1. B2B Payments Transaction Market, by Payment Mode Type, 2024-2033
9.1.1. Traditional
9.1.1.1. Market Revenue and Forecast (2021-2033)
9.1.2. Digital
9.1.2.1. Market Revenue and Forecast (2021-2033)
Chapter 10. Global B2B Payments Transaction Market, By Industry Vertical Type
10.1. B2B Payments Transaction Market, by Industry Vertical Type, 2024-2033
10.1.1. BFSI
10.1.1.1. Market Revenue and Forecast (2021-2033)
10.1.2. Manufacturing
10.1.2.1. Market Revenue and Forecast (2021-2033)
10.1.3. Metals & Mining
10.1.3.1. Market Revenue and Forecast (2021-2033)
10.1.4. IT & Telecom
10.1.4.1. Market Revenue and Forecast (2021-2033)
10.1.5. Energy & Utilities
10.1.5.1. Market Revenue and Forecast (2021-2033)
10.1.6. Others
10.1.6.1. Market Revenue and Forecast (2021-2033)
Chapter 11. Global B2B Payments Transaction Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Payment (2021-2033)
11.1.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.1.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.1.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Payment (2021-2033)
11.1.5.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.1.5.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.1.5.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Payment (2021-2033)
11.1.6.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.1.6.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.1.6.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Payment (2021-2033)
11.2.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.2.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.2.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Payment (2021-2033)
11.2.5.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.2.5.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.2.5.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Payment (2021-2033)
11.2.6.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.2.6.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.2.6.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Payment (2021-2033)
11.2.7.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.2.7.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.2.7.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Payment (2021-2033)
11.2.8.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.2.8.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.2.8.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Payment (2021-2033)
11.3.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.3.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.3.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Payment (2021-2033)
11.3.5.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.3.5.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.3.5.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Payment (2021-2033)
11.3.6.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.3.6.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.3.6.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Payment (2021-2033)
11.3.7.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.3.7.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.3.7.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Payment (2021-2033)
11.3.8.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.3.8.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.3.8.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Payment (2021-2033)
11.4.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.4.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.4.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Payment (2021-2033)
11.4.5.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.4.5.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.4.5.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Payment (2021-2033)
11.4.6.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.4.6.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.4.6.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Payment (2021-2033)
11.4.7.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.4.7.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.4.7.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Payment (2021-2033)
11.4.8.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.4.8.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.4.8.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Payment (2021-2033)
11.5.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.5.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.5.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Payment (2021-2033)
11.5.5.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.5.5.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.5.5.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Payment (2021-2033)
11.5.6.2. Market Revenue and Forecast, by Enterprise Size (2021-2033)
11.5.6.3. Market Revenue and Forecast, by Payment Mode Type (2021-2033)
11.5.6.4. Market Revenue and Forecast, by Industry Vertical Type (2021-2033)
Chapter 12. Company Profiles
12.1. American Express
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Bank of America Corporation
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Capital One
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Mastercard
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Citigroup Inc.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. TransferWise Ltd.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Payoneer Inc.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. PayPal Holdings Inc.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Square Inc.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Visa Inc.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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