Australia B2B Payments Market

Australia B2B Payments Market Overview:

The Australia B2B payments market size reached USD 23.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 44.9 Billion by 2033, exhibiting a growth rate (CAGR) of 7.30% during 2025-2033. The shift to digital B2B payments is driven by demand for efficiency, automation, and real-time transactions. Key factors include the adoption of cloud-based platforms, integration with accounting software, and the New Payments Platform (NPP). Additionally, flexible financing options such as BNPL and enhanced cybersecurity measures are further augmenting the Australia B2B payments market share, supported by regulatory advancements and SME cash flow needs.

Australia B2B Payments Market Trends:

Rise of Digital Payment Platforms in Australia’s B2B Sector

The rapid shift toward digital payment platforms, driven by the need for efficiency, security, and faster transactions is favoring the Australia B2B payments market growth. A research report from the IMARC Group indicates that the digital payment market in Australia was valued at USD 118.0 Billion in 2024. It is projected to grow to USD 667.0 Billion by 2033, reflecting a compound annual growth rate (CAGR) of 20.89% from 2025 to 2033. Traditional payment methods including checks and bank transfers are declining as businesses adopt cloud-based solutions such as Stripe, PayPal, and local platforms such as Airwallex. These platforms offer seamless integration with accounting software, reducing manual processing and errors. Additionally, real-time payments (RTP) through the New Payments Platform (NPP) are gaining traction, enabling instant fund transfers 24/7. The push for automation is further fueled by SMEs and enterprises seeking cost savings and improved cash flow management. With cybersecurity threats on the rise, digital payment providers are also prioritizing fraud prevention through AI-driven verification and encryption. As regulatory support for digital transactions grows, Australian businesses are expected to increasingly favor digital-first payment solutions over legacy systems.

Growth of Buy Now, Pay Later (BNPL) in B2B Transactions

Buy Now, Pay Later (BNPL) solutions, initially popular in B2C markets, are now penetrating Australia’s B2B payments sector. Therefore, this is creating a positive Australia B2B payments market growth. In Australia, new legislation was introduced to require credit checks for Buy Now, Pay Later (BNPL) services in 2024, which will require BNPL providers to acquire a credit license, as overseen by ASIC. With 7 million active BNPL accounts, the proposed initiative aims to rein in overspending among Gen Z consumers and bring BNPL services up to par with regulated credit products. Bringing a low-risk credit category on board along with plans for regulatory enforcement underscores a low-risk approach in an Australian B2B payments market poised for significant growth. Providers are offering flexible payment terms to businesses, helping SMEs manage cash flow and working capital. This trend is particularly beneficial for industries with high upfront costs, such as manufacturing, wholesale, and retail. BNPL for B2B allows buyers to defer payments while ensuring suppliers receive funds upfront, reducing financial strain. The shift is also driven by younger business owners accustomed to BNPL in personal finance, demanding similar convenience in commercial transactions. Moreover, the B2B BNPL market is projected to expand as more fintech tailor solutions to business needs, fostering smoother trade relationships and liquidity management.

Australia B2B Payments Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on payment type, payment mode, enterprise size, and industry vertical.

Payment Type Insights:

• Domestic Payments
• Cross-Border Payments

The report has provided a detailed breakup and analysis of the market based on the payment type. This includes domestic payments and cross-border payments.

Payment Mode Insights:

• Traditional
• Digital

A detailed breakup and analysis of the market based on the payment mode have also been provided in the report. This includes traditional and digital.

Enterprise Size Insights:

• Large Enterprises
• Small and Medium-sized Enterprises

The report has provided a detailed breakup and analysis of the market based on the enterprise size. This includes large enterprises and small and medium-sized enterprises.

Industry Vertical Insights:

• BFSI
• Manufacturing
• IT and Telecom
• Metals and Mining
• Energy and Utilities
• Others

A detailed breakup and analysis of the market based on the industry vertical have also been provided in the report. This includes BFSI, manufacturing, IT and telecom, metals and mining, energy and utilities, and others.

Regional Insights:

• Australia Capital Territory & New South Wales
• Victoria & Tasmania
• Queensland
• Northern Territory & Southern Australia
• Western Australia

The report has also provided a comprehensive analysis of all the major regional markets, which include Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, and Western Australia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Australia B2B Payments Market News:

• March 19, 2025: Visa launched B2B Integrated Payments (VBIP) in partnership with the banks ANZ, NAB, HSBC and Westpac in Australia. This program enables automated supplier payments, even for those who do not accept card payments. Using the SAP Business Technology Platform, it plugs in B2B workflows, better access to working capital, and lower administrative time for Australian businesses. This change marks an important milestone in the digitization of B2B payment flows through commercial supply chains in the country.
• April 18, 2024: MYOB launched integrated B2B payment solutions in New Zealand with Stripe Connect, with implementation in under two months, onboard most customers in under an hour. With an invoice button built into its payment solution, MYOB users can get paid three times faster and accept all card and wallet payments. This is an exciting development for MYOB and strengthens our position in the B2B payments sector across Australia and New Zealand while making compliance and onboarding more efficient via the robust infrastructure provided by Stripe.

Australia B2B Payments Market Report Coverage:

Key Questions Answered in This Report:

• How has the Australia B2B payments market performed so far and how will it perform in the coming years?
• What is the breakup of the Australia B2B payments market on the basis of payment type?
• What is the breakup of the Australia B2B payments market on the basis of payment mode?
• What is the breakup of the Australia B2B payments market on the basis of enterprise size?
• What is the breakup of the Australia B2B payments market on the basis of industry vertical?
• What is the breakup of the Australia B2B payments market on the basis of region?
• What are the various stages in the value chain of the Australia B2B payments market? 
• What are the key driving factors and challenges in the Australia B2B payments?
• What is the structure of the Australia B2B payments market and who are the key players?
• What is the degree of competition in the Australia B2B payments market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Australia B2B payments market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Australia B2B payments market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Australia B2B payments industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.