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

• 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
• Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 17 B2B payments vendors, via the Juniper Research Competitor Leaderboard:
  • ACI Worldwide
  • American Express
  • Banking Circle
  • CGI
  • Discover
  • ECS Fin
  • Finastra
  • FIS
  • Fiserv
  • IBM
  • Mastercard
  • Montran Corporation
  • Ripple
  • SWIFT
  • Trevipay
  • Visa
  • Worldline

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

Interviewed: ACI Worldwide, Discover, FIS.
 
Case Studied: Billie, Boost, CoreChain, Coupa, Kyriba, Lemonway, Metromile Enterprise, Thunes.
 
Included in Juniper Research Competitor Leaderboard: ACI Worldwide, American Express, Banking Circle, CGI, Discover, ECS Fin, Finastra, FIS, Fiserv, IBM, Mastercard, Montran Corporation, Ripple, SWIFT, TreviPay, Visa, Worldline.
 
Mentioned: 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.
 
 
 

Key Market Forecast Splits

• ​​Businesses making B2B payments
• B2B payment transaction values
• B2B payment transaction volumes

Data is split by cross-border and domestic payment types, with these categories being further split by the business size making the payments (small, medium or large) and the type of payment method being used:

• Card Payments (including Virtual Cards)
• Cash Payments
• Cheque Payments
• Wire Transfers (including Instant Payments)

Geographical splits: 60 countries
Number of tables: 174 tables
Number of datapoints: Over 68,000 datapoints

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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.