India B2B Payments Market Size, Share, Trends and Forecast by Payment Type, Payment Mode, Enterprise Size, Industry Vertical, and Region, 2025-2033

India B2B Payments Market Size and Share:

The India B2B payments market size reached USD 38.9 Billion in 2024. The market is expected to reach USD 77.0 Billion by 2033, exhibiting a growth rate (CAGR) of 7.89% during 2025-2033. The market growth is attributed to the availability of APIs (Application Programming Interfaces), which allowed businesses to integrate payment processes into their existing systems and workflows, the regional shift towards digitalization that has propelled the demand for efficient and automated payment solutions, the growing emphasis on cost optimization and operational efficiency, and the rise of e-commerce and supply chains that has necessitated flexible and scalable payment solutions.

Market Insights:

• On the basis of region, the market has been divided into North India, West and Central India, South India, and East and Northeast India.
• On the basis of payment type, the market has been divided into domestic payments and cross-border payments.
• On the basis of payment mode, the market has been divided into traditional and digital.
• On the basis of enterprise size, the market has been divided into large enterprises and small and medium-sized enterprises.
• On the basis of industry vertical, the market has been divided into BFSI, manufacturing, IT and telecom, metals and mining, energy and utilities, and others.

Market Size and Forecast:

• 2024 Market Size: USD 38.9 Billion
• 2033 Projected Market Size: USD 77.0 Billion
• CAGR (2025-2033): 7.89%

Business-to-business (B2B) payments refer to financial transactions between two or more businesses involving the exchange of goods, services, or funds. These transactions occur when one business sells products or services to another, necessitating a secure and efficient payment process. B2B payments often involve larger sums of money than consumer transactions, and they can take various forms, including electronic funds transfers, wire transfers, checks, or specialized B2B payment platforms. Streamlining B2B payments is crucial for optimizing operational efficiency and reducing costs for businesses. Automation, digital invoicing, and electronic payment methods play a significant role in enhancing the speed and accuracy of B2B transactions, fostering smoother business relationships, and facilitating a more transparent financial ecosystem.

The B2B payments market in India is experiencing robust growth, driven by several key factors. Firstly, the regional shift towards digitalization has propelled the demand for efficient and automated payment solutions. With the increasing complexity of business transactions, companies are recognizing the need for streamlined processes, and this has significantly boosted the adoption of B2B payment platforms. Additionally, the growing emphasis on cost optimization and operational efficiency is pushing enterprises to explore innovative payment technologies, further augmenting the India B2B payments market share. Seamless integration with existing financial systems and the ability to enhance overall financial visibility are becoming paramount considerations for businesses, acting as strong catalysts for the B2B payments market. Furthermore, the rise of e-commerce and supply chains has necessitated flexible and scalable payment solutions, driving the expansion of the B2B payments sector. In conclusion, a confluence of digitalization, cost optimization imperatives, and the evolving landscape of regional business practices are interconnected forces propelling the dynamic growth of the B2B payments market in India. As businesses increasingly recognize the strategic value of efficient payment solutions, the market is poised for sustained advancement.

India B2B Payments Market Trends:

Digital Payment Platform Integration and API Ecosystem Development

The market is undergoing a drastic change by virtue of the large-scale use of integrated digital payment networks and strong API ecosystems. Fin-tech firms and conventional banks are creating end-to-end API offerings that allow smooth onboarding with existing enterprise resource planning (ERP) systems, accounting software, and supply chain management systems. This technological innovation enables companies to automate the payment process, minimize human intervention, and obtain real-time visibility of transactions. The integration features are especially useful for manufacturing and retail industries, where businesses make multiple vendor payments and need harmonized financial processes. These platforms also include stronger security features such as multi-factor authentication, blockchain-based authentication, and advanced encryption protocols that are essential for high-value B2B transactions. The increasing sophistication of these platforms is facilitating firms to attain higher operational efficiency while complying with regulatory requirements and lowering processing expenses related to classical payment methods. This trend is significantly enhancing the India B2B payments market outlook.

Real-Time Payment Systems and Instant Settlement Solutions

The advent of real-time payment systems and instant settlement platforms is transforming the India B2B payments scenario by overcoming the conventional issues of delayed settlements and liquidity shortages. The Reserve Bank of India's policy initiatives, such as the widening of the Real-Time Gross Settlement (RTGS) system and the launch of 24x7 payment systems, have facilitated an environment supporting instant B2B transactions. Companies from different industries, especially in BFSI and IT services, are using these systems to enhance their working capital management and better supplier relations through quicker payments. The ability of instant settlement is especially useful for time-critical payments like supply chain finance, trade settlements, and crisis procurement situations. Furthermore, these systems are coupled with sophisticated analytics and reporting capabilities that give organizations end-to-end transaction insights, which improve financial planning and cash flow forecasting. The use of instant settlement solutions is also driving the expansion of supply chain finance products and dynamic discounting schemes.

Some of the other trends in the market include.

• Embedded Finance and Payments: Financial services are being integrated directly into business platforms and workflows, allowing companies to offer payment solutions as part of their core business processes. This trend is enabling seamless transaction experiences and reducing the need for separate financial service providers. The embedded finance model is particularly gaining traction among e-commerce platforms and supply chain management companies.
• AI-Powered Automation: Artificial intelligence and machine learning technologies are being increasingly deployed to automate payment processing, fraud detection, and risk assessment in B2B transactions. These technologies are helping businesses reduce manual errors, improve transaction security, and optimize payment routing. AI-powered solutions are also enabling predictive analytics for better cash flow management and supplier payment scheduling.
• Government Schemes: The Indian government's strategic initiatives including Payments Vision 2025 and Digital India are creating a supportive ecosystem for India B2B payments industry. These programs are focusing on building robust digital infrastructure, promoting financial inclusion, and encouraging innovation in payment technologies. The government's push towards a less-cash economy is accelerating the adoption of digital payment solutions across all business segments.

Growth, Opportunities, and Challenges in the India B2B Payments Market:

• Growth Drivers: The India B2B payments market growth is driven by the rapid digitalization of business processes. Moreover, the government's push towards a digital economy is creating unprecedented demand for efficient B2B payment solutions across all industry sectors. The increasing complexity of supply chain operations and the need for real-time financial visibility are driving businesses to adopt automated payment platforms that can integrate seamlessly with their existing enterprise systems.
• Market Opportunities: The expanding e-commerce sector and the growth of small and medium enterprises present significant opportunities for B2B payment providers to develop tailored solutions for emerging market segments. The increasing adoption of cloud-based technologies and the development of industry-specific payment solutions offer potential for creating specialized platforms that cater to unique business requirements in sectors like manufacturing, healthcare, and agriculture.
• Market Challenges: As per the India B2B payments market analysis, the fragmented regulatory landscape and varying compliance requirements across different states and business sectors pose significant challenges for payment service providers in developing standardized solutions. The persistence of traditional payment methods and resistance to change among established businesses, particularly in rural and semi-urban areas, creates barriers to widespread digital payment adoption.

India 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:

• North India
• West and Central India
• South India
• East and Northeast India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, and East and Northeast India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. 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.

Latest News and Developments:

• In May 2025, EnKash launched the EnKash Payment Gateway, India’s first payment solution specifically built for SMBs and startups, targeting over 63 million such merchants. The gateway offers low-code/no-code integration, powerful SDKs & APIs, automated reconciliation, real-time monitoring, smart routing, and analytics, along with free lifetime support. It aims to simplify payment infrastructure for growth-stage merchants across sectors.
• In September 2024, PayMate announced its partnership with NPCI Bharat BillPay Ltd (NBBL) to launch the BBPS-B2B platform, designed to digitize and standardize invoicing, payments, and collections for businesses in India. The platform will cater to over 63.4 million MSMEs and 1.66 million corporates, offering real-time invoice tracking, business background checks, multiple financing options, and seamless reconciliation. It also supports e-invoicing and enables interoperability between buyer and supplier systems for smoother digital ordering and settlements.
• In August 2024, Zoho launched Zoho Payments, a unified payment platform aimed at simplifying B2B transactions. The service is PCI-DSS level 1 compliant, supporting payment methods like UPI, over 35 net banking options, and cards, and integrates with Zoho Books, Billing, Invoice, and other finance/operations apps. It includes Bharat Bill Payment System (BBPS)-powered B2B payments via NPCI Bharat BillPay Ltd (NBBL), enabling businesses to send invoices and receive payments directly.

India B2B Payments Market Report Coverage:

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 India B2B payments market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the India 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 India 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.