B2B Payments: Key Opportunities, Segment Analysis & Market Forecasts 2022-2027

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Report
131 Pages
January 2023
Region: Global
Juniper Research
ID: 5703134

B2B Payments to Exceed $111 Trillion Transactions Globally in 2027

The latest B2B Payments research provides in-depth analysis and evaluation of how the B2B payments environment is rapidly changing; delivering critical insights on the state of digitalisation, key vendors driving the evolution of the market and their future prospects. It also provides an evaluation of the market progress of various B2B payment methods, and what their rise means in terms of future opportunities for stakeholders in the B2B payments ecosystem. The study contains the Competitor Leaderboard; positioning 17 key B2B payments vendors.

The research provides incisive analysis of both the domestic and cross-border B2B payments markets; highlighting the current market status, key pain points in existing processes and the most critical opportunities for vendors to seize. It also features a comprehensive forecast suite, encompassing B2B payments for a range of segments:

Card Payments (including Virtual Cards)
Cash Payments
Cheque Payments
Cross-border B2B Payments
Domestic B2B Payments
Wire Transfers (including Instant Payments)

This research suite comprises:

Market Trends & Strategies (PDF)
Competitor Leaderboard (PDF)
Data & Forecasts (PDF & Excel)
12 Months' Access to harvest Online Data Platform

Key Market Statistics

Market Size in 2022:

$88tn

Market Size in 2027:

$111tn

2022 to 2027 Growth:

Key Features

Domestic B2B Payments Analysis: Analysis of the current state of the domestic market for B2B payments, including the following elements:

Assessment of key payment mechanisms, with a regional analysis of payment schemes in place.
Evaluation of the major pain points in domestic payments and what opportunities key stakeholders have to address these challenges.

Cross-border B2B Payments Analysis: Detailed insight into the cross-border B2B payments market, including the following elements:

Analysis of the stage of cross-border B2B payments, together with the level of disruption from COVID-19 and insights into key business payment corridors.
Evaluation of the key cross-border pain points in the B2B payments market, including what developments can ease them.
Key Takeaways & Strategic Recommendations: Key opportunities for vendors highlighted across the B2B payments landscape; making for an important reading for key stakeholders.

Benchmark Industry Forecasts: 5-year forecasts are provided for B2B payments transaction volume and value, including splits by domestic versus cross-border, and by payment channel, including by cash, cheque, card, virtual card, wire transfer, instant payments, and other. The data is also split by business size (large, medium and small), as well as by our 8 key forecast regions and 60 countries:

North America:

Canada, US

Latin America:

Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay

West Europe:

Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK

Central & East Europe:

Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine

Far East & China:

China, Hong Kong, Japan, South Korea

Indian Subcontinent:

Bangladesh, India, Nepal, Pakistan

Rest of Asia Pacific:

Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam

Africa & Middle East:

Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates

Competitor Leaderboard: Key player capability and capacity assessment for 17 B2B payments vendors, via the Competitor Leaderboard:

ACI Worldwide
American Express
Banking Circle
CGI
Discover
ECS Fin
Finastra
FIS
Fiserv
IBM
Mastercard
Montran Corporation
Ripple
SWIFT
Trevipay
Visa
Worldline

Key Questions Answered

What is the future of the B2B payments market?
To what extent do B2B payment methods provide an effective experience for businesses on both sides of transactions?
Which markets within B2B payments represent the greatest opportunity for vendors to operate in?
What is the market size and split in terms of payment methods in B2B payments?
What vendors are leading in addressing the B2B payments opportunity?

B2B Payments: Market Trends & Strategies 2022-2027

1. Key Takeaways & Strategic Recommendations

1.1 Key Takeaways
1.2 Strategic Recommendations

2. The B2B Market Landscape

2.1 Introduction
2.2 Definition and Scope
2.3 Market Segmentation
Figure 2.1: B2B Payments Market Segmentation
2.3.1 Markets
2.3.2 Channels
2.3.3 Value-added Services
2.3.4 Value-added Technologies
Figure 2.2: Kyriba’s Payments Network
2.4 Current Market Status and Trends to Watch
2.4.1 The Rise of Blockchain and Stablecoins
Figure 2.3: Leveraging Blockchain for Cross-border Payments/Money Transfers
2.4.2 Instant Payments and B2B Payments
Figure 2.4: Steps of a Cross-border Payment Transaction
2.4.3 CBDCs
2.4.4 BNPL (Buy Now Pay Later) and B2B Payments

3. Key Challenges, Solutions & Future Trends

3.1 Key Challenges, Solutions, and Future Trends
3.1.1 Key Challenges
i. Fraud Prevention
Figure 3.1: CoP Process
ii. High Cost
iii. Low Processing Speed
iv. Lack of Transparency
v. Multiple Mediums
3.1.2 Approaches to Solving B2B Payments Challenges
i. Automation
ii. Blockchain
Figure 3.2: Letter of Credit Process Flow and Blockchain
Figure 3.3: Blockchain-enabled Marketplace

4. B2B Payments: The View from Verticals

4.1 B2B Payments: The View from Verticals
4.1.1 Banks and Financial Services
4.1.2 eCommerce Marketplaces
4.1.3 Government Procurement
4.1.4 Healthcare
4.1.5 Travel Services
4.1.6 Manufacturing
4.1.7 Insurance

B2B Payments: Competitor Leaderboard 2022-2027

1. Competitor Leaderboard

1.1 Why Read This Report
Table 1.1: Competitor Leaderboard B2B Payments Vendors Included & Product Portfolio
Figure 1.2: The B2B Payments Competitor Leaderboard
Table 1.3: Competitor Leaderboard Vendors & Positioning
Table 1.4: Competitor Leaderboard for B2B Payments Vendors Heatmap
1.2 Vendor Profiles
1.2.1 ACI Worldwide
i. Corporate
Table 1.5: ACI Worldwide’s Financial Snapshot ($m), 2019-2021
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.2 American Express
i. Corporate
Table 1.6: American Express’ Financial Snapshot ($m), 2019-2021
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.3 Banking Circle
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.4 CGI
i. Corporate
Table 1.7: CGI’s Financial Snapshot ($bn), 2019-2021
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 1.8: CGI All Payments Solution
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.5 Discover
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.6 ECS Fin
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.7 Finastra
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.8 FIS
i. Corporate
Table 1.9: FIS’ Financial Performance Snapshot ($bn), 2018-2021
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.9 Fiserv
i. Corporate
Table 1.10: Fiserv’s Financial Performance Snapshot ($bn), 2021-2017 . 25
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.10 IBM
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.11 Mastercard
i. Corporate
Table 1.11: Mastercard’s Financial Performance Snapshot ($bn), 2018-2021
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.12 Montran Corporation
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.13 Ripple
i. Corporate
Table 1.12: Ripple’s Funding Rounds (2016-2021)
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.14 SWIFT
i. Corporate
Table 1.13: SWIFT’s Financial Snapshot ($m) 2019-2021
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.15 TreviPay
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.16 Visa
i. Corporate
Table 1.14: Visa’s Financial Performance Snapshot ($bn), 2018-2021 (FYE 30 September)
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.2.17 Worldline
i. Corporate
Table 1.15: Worldline’s Financial Performance Snapshot ($m), 2019-2021
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
Figure 1.16: Worldline’s Instant Payments as Part of Account Payments
v. The Publisher’s View: Strategic Recommendations & Key Opportunities
1.3 Leaderboard Assessment Methodology
1.3.1 Limitations & Interpretations
Table 1.17: Competitor Leaderboard Factors

B2B Payments: Market Data & Forecasting 2022-2027

1. Market Forecast Summary

1.1 Introduction
1.1.1 Definition
1.2 Market Segmentation
Figure 1.1: B2B Payments Market Segmentation
1.2.1 Market Segmentation Commentary
i. Markets
ii. Channels
iii. Value-added Services
iv. Value-added Technologies
1.3 Transaction Value Summary
Figure & Table 1.2: Total Value of B2B Transactions ($bn), Split by 8 Key Regions, 2022-2027
1.4 Transaction Volume Summary
Figure & Table 1.3: Total Volume of B2B Payments (m), Split by 8 Key Regions, 2022-2027
1.5 Transaction Value Summary, Split by Channel
Figure & Table 1.4: Total Value of B2B Payments ($bn), Split by Payment Channel, 2022-2027

2. B2B Domestic Payments: Market Sizing & Forecasts

2.1 Introduction
2.2 Methodology & Assumptions
Figure 2.1: B2B Domestic Payments Market Forecast Methodology
2.2.1 Number of Domestic B2B Payments
2.2: Number of Domestic B2B Payments per year (m), Split by 8 Key Regions, 2022-2027
Table 2.3: Number of Domestic B2B Payments per year (m), Split by Business Size, 2022-2027
2.2.2 Total Domestic B2B Payments Value
Figure & Table 2.4: Total Domestic B2B Payments Value ($bn), Split by 8 Key Regions, 2022-2027
Table 2.5: Total Domestic B2B Payments Value ($bn), Split by Business Size, 2022-2027

3. B2B Cross-border Payments: Market Sizing & Forecasts

3.1 Introduction
3.2 Methodology & Assumptions
Figure 3.1: B2B Cross-border Payments Market Forecast Methodology
3.3 Market Forecasts: B2B Cross-border Payments
3.3.1 Number of Cross-border B2B Payments
Figure & Table 3.2: Total Number of Cross-border B2B Payments (m), Split by 8 Key Regions, 2022-2027
Table 3.3: Total Number of Cross-border B2B Payments (m), Split by Business Size, 2022-2027
3.3.2 Total Value of Cross-border B2B Outflow Payments
Figure & Table 3.4: Total Value of Cross-border B2B Outflow Payments ($bn), Split by 8 Key Regions, 2022-2027
3.3.3 Total Value of Cross-border B2B Inflow Payments
Figure & Table 3.5: Total Value of Cross-border B2B Inflow Payments ($m), Split by 8 Key Regions, 2022-2027
3.3.4 Total Cross-border B2B Payments Value
Figure & Table 3.6: Total Cross-border B2B Payments Value ($bn), Split by 8 Key Regions, 2022-2027
Table 3.7: Total Cross-border B2B Payments Value ($bn), Split by Business Size, 2022-2027

Executive Summary

The global transaction value of the B2B payments market will exceed $111 trillion in 2027, from just over $88 trillion in 2022. This growth of 26% will be driven by rising prices caused by rampant inflation, as well as by strong economic growth in developing markets. Increased automation of accounts payable and receivable is

critical to the growing efficiency of payments processing; creating a significant opportunity for B2B payment vendors.

With the average business making over 1,400 domestic payments per year globally in 2027, improving efficiency in payments processes will be critical. Instant payments, and the additional remittance data that the ISO 20022 standard provides, will unlock greater opportunities to seamlessly organise and reconcile payments, by enabling automated reconciliation.

By leveraging new technologies within the accounts payable and receivable processes, businesses can unlock significant cost savings, which is critical during a time of economic uncertainty.

New payment methods, such as CBDCs, hold significant promise in solving challenges within the B2B payments sector. By being purely digital, CBDC payments will be able to be fully automated, being easily traced wherever the payment is. However, CBDCs must be designed with B2B payment use cases in mind, given that B2B payments are generally more complex than consumer payment processes. As such, B2B payments vendors should participate in trials and pilots to ensure these difficult use cases are considered from day one.

Companies Mentioned

ACI Worldwide
Discover
FIS
Billie
Boost
CoreChain
Coupa
Kyriba
Lemonway
Metromile Enterprise
Thunes
ACI Worldwide
American Express
Banking Circle
CGI
Discover
ECS Fin
Finastra
FIS
Fiserv
IBM
Mastercard
Montran Corporation
Ripple
SWIFT
TreviPay
Visa
Worldline.
Accenture
Accuity
Adidas
Adobe
Adyen
AFS
Aiia
Airbus
Alibaba
Alipay
Amazon
AmBank
Andile
Angeles Investors
Anthem
ANZ
Apfiny
Apollo Bank
AQR Capital
Auchan
Axepta
Azimo
b2buy
Banco Galicia
BANCOMAT S.p.A
Bank Liberty
Bank of China
Bankable
Barclaycard
Barclays
Bayer
BBVA Group
BC Card
Be Consulting
Big Byte International
BigCommerce
Biller
Bloccelerate VC
Bluetab Solutions Group
BMW
BNP Paribas
BNY Mellon
BoE (Bank of England)
Borsa Italiana
BpiFrance
Bridgepoint
Canadian Imperial Bank of Commerce
Capgemini
Capital One
Cardlink SA
CARDNET
Casio
Central Bank of the United Arab Emirates
Certify
Chase
Checkout.com
Chime Financial
China Construction Bank Asia
Choice Hotels
ChromeRiver
CipherTrace
Cisco
Citi
Citrus Pay
Cognizant
coins.ph
Commerce Bank
CommerceHub
Commerzbank
Commonwealth Bank
Compaynet
Connecticut Innovations
CoreChain Technologies
Corsair Capital
CPQi
Creandum
Crédit Agricole
Crédit Suisse
Crestmark
Crossroads Bank
CurrencyCloud
CVS
D+H
Daher Capital
Dawn Capital
Deutsche Bank
Digi-BNC
Digital River
Discover
Dock&Bay
Dupaco
Ecobank
eComchain
Ekata
Elasticpath
Esri
Evo Payments
Expensify
Experian
Expertus
FedNow
FINCI
Fiserv
FundTap
GFC
Globit
Goldman Sachs
Google
Hokodo
HP
HSBC
IATA
IBM
Infor
Infosys
ING Bank
Ingwe Capital
InstaReM
Interac
Investly
Invictus Growth Partners
Itiviti
JBC
JPMorgan
JTL
Kabbage
KBC
Klarna
KPMG
Lenovo
LexisNexis
LianLian DigiTech Co Ltd
Maersk
Magento
Mambu
MarketFinance
Mastercard
MBSB Bank
Merrill Lynch
Metro City Bank
Microsoft
Misys
Mitsubishi UFJ Capital
MobileExpense
Mondu
MoneyGram
Morgan Stanley Group
Inc
Mosaik Partners
Motivate Venture Capital
MUFG Bank
NACHA
National Australia Bank
National Capital Bank
National Grid
Natixis
Navistar
Nets
NetSuite
New Form Capital
Next Coast Ventures
Nium
Nordcloud
North Atlantic Capital
Novatti Group
Nuvei
OpenCart
Oracle
P&G
Pay.UK
Paymaster24
Paymentsense
PayNet
PayPal
Payrix
Paysafe
Payset
Paytm
PayU
PBoC (People’s Bank of China)
Picus
Plastiq
Playter
Pleo
Poste Italiane
PPRO
Previse
PXP Financial Partners
QNB (Qatar National Bank)
Quick Books Online
Rabobank
Rakuten
Rapyd
Razer FinTech
RBC
Red Hat
Reserve Bank of India
Roxe
RSA
Rudolph Brooks Federal Credit Union
RuPay
SaaS Venture Capital
Sage Intacct
Salesforce
Sanofi
Santander
SAP Ariba
Satago
SBI Remit
SCB (Siam Commercial Bank)
Scentre Group
Sears
Seattle Bank
SenseCorp
SEPAexpress
Serko
Shinhan Bank of South Korea
Shopify
ShopWare
ShopWired
SIA
SIBS
Siemens
Silverlake Axis
Singaporean United Overseas Bank
Société Générale
Software Group
Sony
Speedinvest
Staley Credit Union
Stampli
Standard Bank
Standard Chartered
State Bank of India
Stripe
Sumeru Equity Partners
SurePay
Swedbank
Tazapay
TCH
Telefónica
Tencent
TerraPay
Tesco
Thales
ThreatMetrix
Tink
Tools Today
Toyota
Tranglo
Transfast
Troy
TruQua
TSYS
TYDEi Health
UBS
Umanis
Unico
UniCredit
Unilever
Union Bank
UnionPay
United Airlines
United Arab Bank
uShip
Venmo
VeriFone
Verizon
Verve
Viamericas
Visa
Walgreens
Walmart
Wave
WeChat
Weixin Pay
Wells Fargo
Wendy’s
Western Union
Westpac
Wipro
Wise
WooCommerce
Worldpay
Yoma Bank
Zelle