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The global B2B payments market was valued at US$ 942.6 Billion in 2021.
We expect the global B2B payments market to exhibit a CAGR of 8.30% during 2022-2027.
The growing prominence of B2B payment systems across numerous industries, such as manufacturing,
telecom, BFSI, etc., to easily trace and assist in avoiding ambiguity and discrepancy between merchants
is primarily driving the global B2B payments market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing inclination towards digital B2B
payments for exchange of goods or services so as to reduce the need for manual transactions and to
combat the risk of the coronavirus infection.
Based on the payment type, the global B2B payments market has been segmented into domestic
payments and cross-border payments. Currently, domestic payments hold the majority of the total
Based on the payment mode, the global B2B payments market can be divided into traditional and
digital, where traditional mode of payment currently exhibits a clear dominance in the market.
Based on the enterprise size, the global B2B payments market has been categorized into large
enterprises and small and medium-sized enterprises. Currently, large enterprises account for the
majority of the global market share.
Based on the industry vertical, the global B2B payments market can be segregated into BFSI,
manufacturing, IT and telecom, metals and mining, energy and utilities, and others. Among these, the
manufacturing industry currently holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global B2B payments market 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.
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