B2B Payment Transaction Market Share, Trends, Revenue, Technologies, Growth Drivers, Challenges and Future Opportunities Till 2033


B2B Payment Transaction Market Share, Trends, Revenue, Technologies, Growth Drivers, Challenges and Future Opportunities Till 2033: SPER Market Research

 Published: May-2024
 Author: SPER Analyst

B2B Payment Transaction Market is projected to be worth USD 3653.05 billion by 2033 and is anticipated to surge at a CAGR of 9.96%.

Business-to-business, or B2B, payments are the exchange of value for goods or services from a supplier to a buyer in the form of currency. Depending on the terms of the contract signed by the supplier and the customer, B2B payments may be one-time or ongoing. Compared to business-to-consumer, or B2C, payments, business-to-business (B2B) payments are more complicated since the approval and settlement of B2B payments might take several days or weeks. On the other hand, B2C payment processing usually settles the transaction immediately.

Global B2B Payment Transaction Market Driving Factors and Challenges
The adoption of digital transactions has increased due to the availability of access to the internet and the technology it powers. To increase productivity, decrease human labour, and expedite payment procedures, businesses are embracing digital payment solutions more and more. The market is expanding as a result of the switch from conventional paper-based payment methods to digital platforms and solutions. Regardless of an enterprise's location, digital payments offer unmatched speed and efficiency in the B2B payment process. They can also simply enable financial transfers and overseas payments. Peer-to-peer platforms, digital wallets, and block-chain based payments are just a few of the cutting-edge payment solutions that the fintech industry's expansion has brought to the table, adding to the variety of B2B digital payment choices.

The potential threat for B2B digital payments has increased due to the rise in cyber threats, such as ransomware attacks, phishing scams, malware, and data breaches. Sensitive company information is exposed, and the integrity of financial transactions is jeopardised. Because of the potentially severe financial losses and reputational harm that may result from such breaches, organisations are reluctant to fully adopt digital solutions. In the B2B digital payment business, fraud and security issues such as invoice manipulation and payment fraud pose significant challenges. Complicating matters further are data protection and regulatory compliance regulations like GDPR and PCI DSS, which call for safe and legal payment procedures. 

Impact of COVID-19 on Global B2B Payment Transaction Market
The COVID-19 pandemic resulted in lockdowns in numerous industries and necessitated significant operational changes for businesses. Many businesses have experienced losses and disruptions as a result of government restrictions on the movement of goods, transportation, import and export bans, travel restrictions, cancellations of events, and other restrictions. B2B payments have also been hindered by low demand for goods and services, an inconsistent supply chain, and the company's failure as a result of these variations in corporate operations. In addition, fewer business-to-business (B2B) transactions occurred as a result of government regulations, which also led to a decline in B2B payments.

Global B2B Payment Transaction Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as American Express, Bank of America Corporation, Capital One, Mastercard, Payoneer Inc., PayPal Holdings Inc., Square Inc., Stripe TransferWise Ltd., Visa Inc., and others.

Global B2B Payment Transaction Market Segmentation:

By Payment Type: Based on the Payment Type, Global B2B Payment Transaction Market is segmented as; Domestic Payments, Cross-Border Payments.

By Payment Method: Based on the Payment Method, Global B2B Payment Transaction Market is segmented as; ACH, Wire, Cheque, Cash, Demand Draft, Credit Card.

By Industry Vertical: Based on the Industry Vertical, Global B2B Payment Transaction Market is segmented as; Manufacturing, IT and Telecom, Metals and Mining, Energy and Utilities, BFSI.

By Enterprise Size: Based on the Enterprise Size, Global B2B Payment Transaction Market is segmented as; Large Enterprise, Medium-sized Enterprise, Small-sized Enterprise.

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. 

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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