B2B Payment Transaction Market Will Exceed $63,084 Bn By 2027

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May 22, 2020 (Market Prediction via COMTEX) — The global B2B Payment Transaction Market is estimated to grow at a healthy CAGR of over 6% during the forecast period 2020 to 2027 and reach a valuation of over US$ 63,084 Bn. The market report provides an analysis of the global B2B Payment Transaction Market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

B2B payments are payments between two merchants for goods and services. Paper checks are still the most popular payment method for businesses. A digital B2B payment solution is a speed payment method, which all can enhance the cash flow of a company, including issuing, receiving and processing systems.

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B2B payments are payments between two merchants for goods and services. Paper checks are still the most popular payment method for businesses. A digital B2B payment solution is a speed payment method, which all can enhance the cash flow of a company, including issuing, receiving and processing systems. In the typical supply chain, business to business transactions are prevalent, when businesses buy parts and goods for use in production procedures, such as other raw materials. Finished products can be marketed to people through transactions between the business and the consumer.

In 2018 North America market accounts for high revenue share due to high consumers spending capacity on food and entertainment services, coupled with availability of advanced internet infrastructure for smart payment options. In addition, presence of major service providers operating in the country such as US and Canada is expected to support the regional market growth.

Gradual increase in income along with increase in consumer spending on goods and services are major factors expected to augment the market growth. Government of developed and developing are focused on development of payment infrastructure in order to facilitate the digital economy approach along with introduction of various application which are factors positively impacting the global B2B payment market growth. In 2016, Indian Banks Association launched the Unified Payments Interface (UPI) and the NPCI developed the Bharat Interface for Money (BHIM) app. UPI manages multiple bank accounts within one mobile application of any participating bank.

Moreover, factors such as high internet penetration, growing smart phones adoption is slowly increasing consumer’s preference for mobile payments through various applications which is expected to further support the market growth. In 2016 from the total UPI transactions around 16.5 Mn transactions amounting to INR 68,872.57 Cr were done through the BHIM app. The interface handled 93,000 transactions worth US$ 30 Mn for 21 banks.

However, rising threats/activities related to data theft and lack of regulatory scenario related to overseas payment are factors hamper the market growth. With easy access to high speed internet hacker can easily to track and steal the data. According to World Economic Forum, two billion data records were compromised in 2017, and more than 4.5 billion records were breached in the first half of 2018. In addition, limited visibility of end-to-end transaction related to multiple payments, inculcation of extra costs, chargeback’s, and payment cycle disruption is resulting in lower preference for B2B payment methods. Limited transaction transparency is another factor expected to limit the growth of the market.

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Government is spending high on cyber security, developing government regulations related to cyber crime and improved infrastructure are factors creating revenue opportunities for target market players. In addition, flourishing e-commerce sector and with the advent of new technology such as big data analytics, AI, blockchain is expected to help entrepreneurs simplify the B2B payment system further supporting the revenue growth of market.

Major players operating in the global b2b payment transaction market are American Express Co. Inc., Ant Financial Services Co. Ltd., Bottomline Technologies Inc., Coupa Software Inc., FleetCor Technologies Inc., Intuit Inc., JPMorgan Chase & Co., MasterCard Inc., and SAP. The competitive scenario in the market is high as there is high presence of players operating in the market. Major players inclination towards increasing their customer base and improve the customer experience is expected to further increase the competition.

Key Findings

The global b2b payment transaction market was valued at around US$ 63,084 Bn in 2026. Among the transaction type segment the digital segment is expected to contribute significant revenue shares in the market globally.

Market Segmentation

Market By Transaction Type

  • Traditional
  • Digital

Market By Business Segment

  • Small Sized Business
  • Medium Sized Business
  • Large Sized Business

Market By Operating Channel

  • Cross Border
  • Domestic

Market By Geography

(Regional Output, Demand & Forecast by Countries)

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Spain and Rest of Europe)
  • Asia Pacific(China, Japan, India, Australia, South Korea and Rest of Asia-Pacific)
  • Latin America(Mexico, Brazil and Rest of Latin America)
  • Middle East and Africa(GCC, South Africa and Rest of MEA).

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TABLE OF CONTENT

CHAPTER 1. INDUSTRY OVERVIEW

CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS

CHAPTER 3. MANUFACTURING PLANTS ANALYSIS

CHAPTER 4. B2B Payments Transaction MARKET By Transaction Type

CHAPTER 5. B2B Payments Transaction MARKET By Business Segment

CHAPTER 6. B2B Payments Transaction MARKET By Operating Channel

CHAPTER 7. NORTH AMERICA B2B Payments Transaction MARKET BY COUNTRY

CHAPTER 8. EUROPE B2B Payments Transaction MARKET BY COUNTRY

CHAPTER 8. EUROPE B2B Payments Transaction MARKET BY COUNTRY

CHAPTER 10. LATIN AMERICA B2B Payments Transaction MARKET BY COUNTRY

CHAPTER 11. MIDDLE EAST & AFRICA B2B Payments Transaction MARKET BY COUNTRY

CHAPTER 12. COMPANY PROFILE

CHAPTER 13. RESEARCH APPROACH

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