Market Overview

The global B2B payments market size was valued at USD 1,273.0 Billion in 2025 and is expected to reach USD 2,274.3 Billion by 2034, exhibiting a CAGR of 6.70% during the forecast period 2026-2034. Asia Pacific dominates the market with over 36.7% share in 2025. The market growth is driven by increased digital payments adoption, enhanced security measures for sensitive data, and widespread use of mobile wallets.

Study Assumption Years

• Base Year: 2025
• Historical Year/Period: 2020-2025
• Forecast Year/Period: 2026-2034

B2B Payments Market Key Takeaways

• The global B2B payments market size was USD 1,273.0 Billion in 2025.
• The market is expected to reach USD 2,274.3 Billion by 2034.
• The forecast period for market growth is 2026-2034 with a CAGR of 6.70%.
• Asia Pacific holds the largest market share, over 36.7% in 2025.
• The market is driven by digital payments adoption, enhanced security measures, and mobile wallet usage.
• The United States is a key regional market with 70.40% of North American share.

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Market Growth Factors

The B2B payments market is driven by the increasing adoption of digital payments across different sectors and by the growing number of fintech companies, which enable faster and safer payment procedures. The development of global e-commerce platforms (30.7 million websites in 2024) is also driving the demand for cross-border payments. Automation and in-built payment capabilities adopted by companies, as well as cost-cutting and improvements in cash flow management, lead to faster expansion into new markets. Progress in regulation and industry digitalization have also helped growth.

Digital transformation includes the conversion of organizations from paper-based processes to online payment platforms, and there is a growing interest in automated systems that allow for approvals, payments, and tracking in real time. Gartner estimates that by 2028, more than 50% of organizations will use an industry cloud platform to accelerate critical initiatives. Digital payment platforms ease international payments. Calculated partnerships, such as Visa's partnership with Swift, are improving international connectivity for B2B payments.

Biometrics and encryption are also used, which prevent fraud by checking that only authorized transactions are taking place. The immutability and traceability of each payment on the blockchain creates a permanent record, which increases the demand for audits and reduces the risks of fraudulent activity. Merchant Savvy states worldwide payment frauds could amount to USD 40.62 Billion in 2027. Visa launched India's payment security roadmap. Citi has a partnership with fintech company Hokodo to bring frictionless B2B Buy Now, Pay Later solutions.

Market Segmentation

By Payment Type:

• Domestic Payments: Largest segment with around 65.2% of the market in 2025. Involves high-volume transactions within national borders with local suppliers, employees, and service providers. Preferred for simplicity and adherence to national banking infrastructure. PayU introduced mobile SDKs enhancing transaction success rates by up to 56%.
• Cross-Border Payments: Included but no detailed data provided.

By Payment Mode:

• Traditional: Leading segment with about 65.9% market share in 2025. Includes methods like paper cheques, wire transfers, and cash transactions. Favored due to established processes and familiarity.
• Digital: Included but no detailed data provided.

By Enterprise Size:

• Large Enterprises: Leading segment with around 55.6% market share in 2025. Characterized by complex payment needs, high transaction volumes, and investment in advanced technologies. Example: Conduent Incorporated’s digital integrated payments hub improves payment efficiency.
• Small and Medium-sized Enterprises: Included but no detailed data provided.

By Industry Vertical:

• Manufacturing: Leading sector with 23.6% market share in 2025. Involves production industries requiring efficient payments for suppliers, raw materials, and distribution. Digital payment adoption and supply chain financing are increasing. Rupifi raised USD 25 Million for B2B payment solutions development.
• BFSI, IT and Telecom, Metals and Mining, Energy and Utilities, Others: Included but no detailed data provided.

Regional Insights

Asia Pacific dominates the B2B payments market with over 36.7% share in 2025 due to expanding e-commerce, smartphone proliferation, favorable government policies, and strong fintech ecosystem growth. Adoption of blockchain-based platforms and supply chain finance further fuels growth. Tech Data India launched Peer Connexions platform to facilitate digital commerce for resellers enhancing company support and operational efficiency.

Recent Developments & News

• August 2024: Easebuzz launched a B2B payments platform in collaboration with NPCI Bharat BillPay to automate business transaction processes.
• November 2024: Melio secured USD 150 Million in venture capital funding to scale its B2B payment platform.
• April 2024: Paystand acquired spend management software provider Teampay, aiming to expand its blockchain-enabled B2B payments network.
• April 2024: Nium and Thredd expanded fintech partnership enabling virtual card issuance in Asia-Pacific to boost B2B travel payments.
• April 2024: Pliant raised USD 19 Million led by PayPal Ventures to expand its B2B credit card platform.

Key Players

• American Express Company
• Bank of America Corporation
• Capital One
• Citigroup Inc.
• JPMorgan Chase & Co.
• Mastercard Inc.
• Payoneer Inc.
• PayPal Holdings Inc.
• Paystand Inc.
• Stripe Inc.
• Visa Inc.
• Wise Payments Limited

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