What is B2B Payments Platform Market?
B2B payments are payments made between companies for goods or services. Business creates B2B payments options for their invoicing. It gives detail overview of account payables and receivables. Digital B2B payments solutions make it faster to issue, receive, and process payments, all of which can improve a business’s cash flow. The increasing investment by venture capital and private equity funds in the space is one of the key drivers of the market. Geographically, North America region is expected to grow with the highest market share over the forecast period followed by Europe and Asia Pacific. Presence of leading market players creating hub for B2B Payments Platform providers and increasing B2B operations further impacting on market profitability in better manner.
Highlights from B2B Payments Platform Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Worldpay Group plc (United States), American Express (United States), PayPal Holdings Inc. (United States), Ant Financial Services (China), SAP SE (Germany), Intuit Inc. (United States), Tenpay Technology Company (China), Bottomline Technologies, Inc. (United States), Visa (United States), Coupa Software (United States), TransferTo (Singapore), FleetCor Technologies, Inc. (United States), GoCardless (United Kingdom), JPMorgan Chase (United States), Payoneer (United States) and Traxpay (United States) |
Market players are focusing on providing B2B Payments Platform with higher quality along with complying customer retention activities to fascinate more end users. They are also focusing on the introduction of numerous advanced & attractive payment features to reach a newer consumer base. The market is fragmented owing to the presence of several international and local providers. The high focus on the offering cost effective properties. Besides, the industry profitability has led the entry of new players, in turn, increasing the level of rivalry in the already competitive market. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global B2B Payments Platform market throughout the forecasted period.
Worldpay Group plc (United States), American Express (United States), PayPal Holdings Inc. (United States), Ant Financial Services (China), SAP SE (Germany), Intuit Inc. (United States), Tenpay Technology Company (China), Bottomline Technologies, Inc. (United States), Visa (United States), Coupa Software (United States), TransferTo (Singapore), FleetCor Technologies, Inc. (United States), GoCardless (United Kingdom), JPMorgan Chase (United States), Payoneer (United States) and Traxpay (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Zelle (United States), Samsung (South Korea), Square, Inc. (United States), Fexco (Ireland) and Optal (United Kingdom). B2B Payments Platform Market Segmentation:
Scope | Sub-Segments |
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Type | Digital and Traditional |
Business Operation | Cross Boundary,Domestic |
Enterprise Size | SMEs,Large Enterprise |
Industry Vertical | Travel & Hospitality,Retail & Consumer Goods,BFSI,Media & Entertainment,IT & Telecommunication,Healthcare & Life science,Others |
Payment Method | Checks,ACH payments,EFT payments,Credit cards,P-Cards,Virtual Financing,Others |
On the basis of geography, the market of B2B Payments Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Up surging International Trades and demand for Cross-border Payments
Market Growth Drivers:
Rising Investment by Venture Capital and Private Equity Funds in Real-Time Payment Technology and Growing need for Customizable Payment Solutions among the Businesses
Challenges:
Long term Fluctuated Impact of Foreign Currency on International and Domestic Trading
Restraints:
Concern regarding Cybercrime and Virus Threats and Stringent Regulatory Compliance
Opportunities:
Growing Popularity of Digital Payment Solutions has Created Growth Opportunities and Rising Technological Advancements like use of AI and Block chain for Streamline Payable Process
Key Target Audience
B2B Payments Platform Providers, E-commerce and Retail Industrialist, Third Party Payable Providers, New Entrants/Investors and Industry Verticals
Market Leaders & Development Strategies
September 2021, Global Payments Inc., a leading worldwide provider of payment technology and software solutions has acquired MineralTree. Company has purchased MineralTree’s software-as-a-service (SAAS) offerings automate key procurement processes, including invoice capture, coding and approval, and enable virtual cards and integrated payments options. With this acquisition, company is able to offer payment related offerings like domestic and international acquiring, payroll, data and analytics, access to non-card based rails and virtual card provisioning.
December 2021, Financial payments provider, Razorpay has launched new software-as-a-service (SaaS) products. Company has introduced Razorpay Magic for merchants and small businesses. It allows shoppers to prefill their information including address and preferred payment options on a merchant’s checkout page. It further online merchants increase conversions at checkout pages. With this new launch, company is able to offer wide arrays of payment solutions.