As per the current market research conducted by CMI Team, the global B2B Payments Market size is expected to record a CAGR of 9% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 1,125.5 billion. By 2032, the valuation is anticipated to reach USD 1,689.4 billion.

B2B Payments Market: Growth Factors and Dynamics

The dynamics of the B2B payments market are influenced by various factors that shape its growth and evolution. Here are the key dynamics driving the B2B payments market:

  • Digital Transformation: The ongoing digital transformation across industries is a significant dynamic shaping the B2B payments market. Businesses are increasingly adopting digital payment solutions to streamline their payment processes, improve efficiency, and enhance cash flow management. The shift from traditional paper-based methods to electronic payment systems, including mobile payments and online platforms, is driving the growth of the B2B payments market.
  • Technological Advancements: Advances in technology, such as blockchain, artificial intelligence (AI), machine learning (ML), and cloud computing, are transforming the B2B payments landscape. These technologies enable secure and real-time payment processing, enhance transaction visibility, automate reconciliation, and reduce manual errors. Integration of these technologies in B2B payment solutions is driving innovation and driving the growth of the market.
  • Rise of FinTech: The emergence of financial technology (FinTech) companies is disrupting the traditional B2B payments landscape. These innovative startups are introducing alternative payment methods, such as digital wallets, peer-to-peer transfers, and instant payment solutions, which offer convenience, speed, and cost-effectiveness. The growing adoption of FinTech solutions by businesses is reshaping the B2B payments market and increasing competition among traditional financial institutions.
  • Regulatory Environment: The regulatory landscape significantly impacts the B2B payments market. Compliance with regulations related to data protection, anti-money laundering (AML), knowing your customer (KYC), and cross-border transactions is essential for businesses operating in the B2B payments space. Regulatory frameworks, such as the Revised Payment Services Directive (PSD2) in Europe, aim to foster innovation, open banking, and promote secure and transparent payment solutions.
  • Globalization and Cross-Border Transactions: The increasing globalization of businesses and the growth of cross-border trade are driving the demand for efficient and secure cross-border payment solutions. Businesses are seeking faster, more cost-effective, and transparent ways to conduct international transactions, resulting in the development of cross-border payment platforms and services. The rise in e-commerce and the expansion of supply chains worldwide further contribute to the dynamics of the B2B payments market.
  • Payment Integration and APIs: The integration of payment systems with other business processes and applications is gaining importance in the B2B payments market. Application Programming Interfaces (APIs) enable seamless integration between payment platforms, accounting software, e-commerce platforms, and other business systems. This integration streamlines workflows, improves data accuracy, and enhances the overall payment experience for businesses.
  • Changing Customer Expectations: Businesses and consumers alike are increasingly expecting faster, more convenient, and more secure payment experiences. B2B buyers are seeking flexible payment options, real-time transaction updates, and improved transparency. To meet these evolving expectations, businesses are adopting innovative payment solutions that cater to the changing needs of their customers.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 1189.8 Billion
Projected Market Size in 2032 USD 1,689.4 Billion
Market Size in 2022 USD 1,125.5 Billion
CAGR Growth Rate 9% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Payment Type, Enterprise Size, Payment Mode, Industry Vertical and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

B2B Payments Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the B2B payments market, leading to both challenges and opportunities. Here is an analysis of the effects of COVID-19 on the B2B payments market:

  • Digital Transformation Acceleration: The pandemic has accelerated the shift towards digital payments and online transactions. With physical distancing measures and lockdown restrictions in place, businesses have been compelled to adopt digital payment solutions to facilitate remote and contactless transactions. This has led to increased adoption of electronic invoicing, digital wallets, and online payment platforms in the B2B payments market.
  • Rise of E-commerce: The closure of physical stores and the surge in remote working have fueled the growth of e-commerce. Businesses have shifted their focus to online sales channels, resulting in a greater reliance on digital payments for B2B transactions. The increased demand for B2B e-commerce has driven the adoption of online payment gateways, facilitating secure and efficient payment processing between businesses.
  • Cash Flow Management Challenges: Many businesses faced cash flow challenges during the pandemic due to disrupted supply chains and reduced demand. B2B payment delays and defaults became more prevalent, affecting the financial stability of businesses across various sectors. As a result, businesses have sought flexible payment solutions and tools to manage their cash flow effectively, leading to increased demand for B2B payment platforms that offer features like invoice financing and payment scheduling.

Global B2B Payments Market 2023–2032 (By Billion)

List of the prominent players in the B2B Payments Market:

  • American Express
  • Bank of America Corporation
  • Capital One
  • Mastercard
  • Citigroup Inc.
  • TransferWise Ltd.
  • Payoneer Inc.
  • PayPal Holdings Inc.
  • Square Inc.
  • Visa Inc.
  • Others

The B2B Payments Market is segmented as follows:

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

By Region

North America

  • The U.S.
  • Canada
  • Mexico


  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America