B2B Payments Market Scope
B2B payments are payments made between two merchants for services or goods. Paper checks are still the most common way for businesses to pay each other. 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.
The market study is segmented by Type (Digital and Traditional), by Application (BFSI, Healthcare, Energy and Electricity, Tourism and Transport, Retail, Government/Public Sector and Other) and major geographies with country level break-up.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global B2B Payments market throughout the predicted period.
American Express (United States), Ant Financial Services (China), Bottomline Technologies, Inc. (United States), Coupa Software (United States), FleetCor Technologies, Inc. (United States), Intuit Inc. (United States), JPMorgan Chase (United States), SAP SE (Germany), PayPal Holdings Inc. (United States), Square, Inc. (United States), Zelle (United States), Apple (United States), Samsung (South Korea) and Google (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Worldpay Group plc (United States), Traxpay (United States), Apruve (United States), Bill.com (United States), Fundtech (United States), Tenpay Technology Company (China), Visa (United States), WEX (United States), Fexco (Ireland), Optal (United Kingdom), Payoneer (United States), EBA (European Banking Authority) (United Kingdom), GoCardless (United Kingdom), Transpay (United States) and TransferTo (Singapore).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global B2B Payments market by Type, Application and Region.
On the basis of geography, the market of B2B Payments has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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).
Market Leaders and their expansionary development strategies
On 20 Nov. 2019, Citi has launched cross-border B2B payments platform., On 31 July 2019, American Express announced it signed an agreement to acquire acompaytm, a best-in-class, digital payment automation platform from ACOM Solutions, Inc., that helps business customers make supplier payments easily and securely, manage business spend, and improve cash flow. “acompaytm will be the newest addition to a series of B2B payment collaborations, strengthening our accounts payable automation capabilities and equipping our customers with the tools they need to improve the way they process and settle supplier payments and On 15 Feb. 2019, Barclaycard Commercial Payments, part of Barclays Bank PLC, announced a strategic partnership with SAP UK Limited. The partnership will see Barclaycard integrate its award-winning business-to-business (B2B) payment product, Precisionpay, into SAP Ariba solutions, the world's largest B2B marketplace for modern business.
On 12 Sept 2019, Mastercard unveiled its plans to modernize the business-to-business (B2B) payment ecosystem with Mastercard TrackTM. The Track brand of products represents a transformational change for suppliers and buyers: solutions that will reduce complexity, cut costs and automate processes. and On 26 June 2019, Coupa Software, a leader in Business Spend Management (BSM), announced that its Coupa Pay offering will integrate with Stripe, the online payments platform. This will make virtual card payments simpler and faster for businesses that use the Coupa BSM Platform. Coupa is transforming B2B payments by removing complexity and weaving payments throughout business spend processes.
- Payment Automation on the Rise
- The Rise of Flexible Payment Options
- Collaboration and Simplified Integrations
- The Evolution of B2B Relationships
- Commercial Cards Have Been Gradually Gaining Traction in B2B Payments, Especially in Areas like Employee Expense Management
- The Increasing Investment by Venture Capital and Private Equity Funds in the Space
- Advances in Technology and Actionable Real-Time Data
- The Surging Need for Customizable Payment Solutions among the Businesses Owing to Rapidly Changing Merchant Needs
- The Upsurging Cross-border Payments Worldwide Due to International Trades
- Blockchain Technology for B2B Payments Can Open Lucrative Opportunities for the Market
- The Emergence of Industry 4.0 Is Expected to Build-Up Bright Future of B2B Payments
- Ongoing Technological and Regulatory Changes
- Fighting Cybercrime and Facilitating Compliance
Key Target AudienceB2B Payments Key Vendors, B2B Payments Solutions/Service Providers, Potential Technology Investors, Regulatory & Government Bodies, Research & Consulting Firms, End Users and Others
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