Global B2B Payments Market to Reach US$ 2,117.0 Billion by 2032, Fueled by Rapid Digitization Across Industries

December 13, 2023 | BFSI

According to the latest report by IMARC Group, titled “B2B Payments Market Report by Payment Type (Domestic Payments, Cross-Border Payments), Payment Mode (Traditional, Digital), Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), Industry Vertical (BFSI, Manufacturing, IT and Telecom, Metals and Mining, Energy and Utilities, and Others), and Region 2024-2032,” the global B2B payments market size reached US$ 1,108.6 Billion in 2023. B2B payments, short for Business-to-Business payments, refer to financial transactions and exchanges of funds between two or more businesses or entities. These transactions encompass a wide range of payment scenarios, including the purchase of goods and services, settling invoices, and conducting trade between companies. B2B payments differ from consumer payments in terms of scale, complexity, and the specific needs of business entities. B2B payments can be executed through various methods, including electronic funds transfers (EFT), wire transfers, credit cards, checks, and digital payment platforms. Efficient B2B payment processes are crucial for maintaining healthy supplier relationships, optimizing cash flow, and ensuring the smooth operation of businesses across diverse industries. In recent years, the landscape of B2B payments has been significantly impacted by digital innovations and fintech solutions, which offer efficiency, security, and cost-effectiveness.

Global B2B Payments Market Trends:

The rising demand for more efficient and streamlined payment processes due to the ongoing digital transformation in business across the globe represents the primary factor driving the market growth. This includes the adoption of electronic invoicing, digital payment platforms, and real-time transaction tracking. Additionally, the rapid expansion of e-commerce and cross-border trade has necessitated secure and seamless B2B payment methods to facilitate international transactions, thereby fueling market growth. Apart from this, the development of innovative payment solutions that offer enhanced security and reporting capabilities owing to the increasing focus on financial transparency, regulatory compliance, and fraud prevention is propelling market growth. Furthermore, the heightened need for faster, more secure, and cost-effective payment options that cater to the diverse and evolving needs of the corporate sector as businesses seek to optimize working capital management and strengthen supplier relationships is contributing to market growth. Other factors, including rising demand for real-time payment processing and settlement, increasing importance of data analytics and insights in B2B payment solutions, and escalating need for cross-border payment efficiency, are also anticipated to drive the market further. Looking forward, the market value is projected to reach US$ 2,117.0 Billion by 2032, expanding at a CAGR of 7.3% during 2024-2032.

Market Summary:

  • Based on the payment type, the market has been classified as domestic and cross-border payments, wherein domestic payments hold the largest market share.
  • On the basis of the payment mode, the market has been bifurcated into traditional and digital. At present, traditional accounts for the majority of market share.
  • Based on the enterprise size, the market has been segmented into large, and small and medium enterprises. Amongst these, large enterprises represent the leading market segment.
  • The market has been categorized based on the industry vertical into BFSI, manufacturing, IT and telecom, metals and mining, energy and utilities, and others. Presently, manufacturing exhibits a clear dominance in the market.
  • Region-wise, the market has been divided into 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 Middle East and Africa. Amongst these, Asia-Pacific holds the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
 Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: 
  • Payment Type 
  • Payment Mode
  • Enterprise Size
  • Industry Vertical
  • Region 
Payment Types Covered Domestic Payments, Cross-Border Payments
Payment Modes Covered Traditional and Digital
Enterprise Sizes Covered Large and Small and Medium Sized Enterprises
Industry Verticals Covered BFSI, Manufacturing, IT and Telecom, Metals and Mining, Energy and Utilities, and 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. and Wise Payments Limited.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global B2B Payments Market to Reach US$ 2,117.0 Billion by 2032, Fueled by Rapid Digitization Across Industries
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-714-6104


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More