Report Overview

Juniper Research’s latest B2B Payments research provides in-depth analysis and evaluation of how the payments environment is rapidly changing; delivering critical insights on the state of digitalisation, key vendors driving the evolution and their future prospects. It also provides an evaluation of the current market progress of various different B2B payment methods and what their rise means in terms of future opportunities for stakeholders in the ecosystem.

The research provides astute 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.

The research also features a comprehensive forecast suite:
  • Card Payments (including Virtual Card)
  • Cash Payments
  • Cheque Payments
  • Cross-border Payments
  • Domestic Payments
  • Wire Transfers (including Instant Payments)
This research suite includes:
  • Strategy & Trends (PDF)
  • 5-year Data & Forecasting (PDF & Excel)
  • Competitor Leaderboard (PDF)
  • 12 months’ access to harvest online data platform
Key Market Statistics
Market size in 2021: $84.6tn
Market size in 2026: $105.3tn
2021 to 2026 CAGR: 3.12%

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Key Features

  • Domestic Analysis: Analysis of the current state of the domestic market for B2B payments, including the following elements:
    • Analysis 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 Analysis: Detailed insight into the cross-border B2B payments market, including the following elements:
    • Assessment of the current stage of cross-border B2B payments, together with the level of disruption from COVID-19 and analysis of key business payment corridors.
    • Evaluation of the key cross-border pain points in the B2B payments market, including what developments can ease these pain points.
  • Key Takeaways & Strategic Recommendations: Key opportunities for vendors highlighted across the B2B payments landscape; making for an important reading for key stakeholders.
  • Innovation Analysis: Insightful analysis of key new technologies and approaches in B2B payments, including the use of blockchain, new payment networks and the development of automation.
  • Juniper Research Competitor Leaderboard: Key player capability and capacity assessment of 15 B2B payments providers, including:
    • ACI Worldwide
    • American Express
    • Banking Circle
    • CGI
    • ECS Fin
    • Finastra
    • FIS
    • Fiserv
    • IBM
    • Mastercard
    • Montran Corporation
    • Ripple
    • SWIFT
    • Visa
    • Worldline
  • Benchmark 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. Data is also split by our 8 key regions and 25 countries, including:
    • Argentina
    • Australia
    • Brazil
    • Canada
    • China
    • Colombia
    • Denmark
    • France
    • Germany
    • India
    • Italy
    • Japan
    • Mexico
    • Netherlands
    • Norway
    • Poland
    • Portugal
    • Saudi Arabia
    • Singapore
    • South Africa
    • South Korea
    • Spain
    • Sweden
    • UK
    • US

Key Questions Answered

  1. What is the market status of B2B payments and what does this mean for future evolution?
  2. To what extent do B2B payment methods provide an effective experience?
  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?8

Companies Referenced

Interviewed: ACI Worldwide, FIS.
Case Studied: Cleverbridge, Factorin, NIUM.
Included in the Juniper Research Competitor Leaderboard: ACI Worldwide, American Express, Banking Circle, CGI, ECS Fin, Finastra, FIS, Fiserv, IBM, Mastercard, Montran Corporation, Ripple, SWIFT, Visa, Worldline.
Mentioned: Abstract Ventures, Accenture, Accertify, Access Bank, Accuity, Adeptia, adidas, Alibaba, Alipay, AmBank, AME Cloud Ventures, Andile, ANZ, Apfiny, AQR Capital, AscendantX, Association of Foreign Banks, Auchan, Axepta, Azimo, Banco Galicia, Bank Liberty, Bank of China, Barclaycard, Barclays, Be Consulting, Big Byte International, Binance.US, Blockchain Capital,, Bluetab Solutions Group, BNP Paribas, Borsa Italiana, Brighterion, British Airways, Camp One Ventures, Cardlink, CCE, Central Bank, Certegy, China Construction Bank Asia, Citrus Pay, CME Ventures, Cognizant, Coinbase, Commerzbank, Commonwealth Bank, Conferma Pay, Core Innovation Capital, CPQi, CRCM Ventures, Crossroads Bank, Currencycloud, DeeMoney, Delta Air Lines, Depository Trust & Clearing Corporation, Deutsche Bank, Digi-BNC, Digital Currency Group, Discover, Dupaco, Dynamics, Earthport, Ecobank, eFunds, Elite 3E, EMH Partners, Equens, Evo Payments, Experian, Expertus, Finicity, First Data, Fiserv, Flutterwave, Fraedom, Globit, GoPay, Hinge Capital, HP, HSBC, ICT, IDG Capital, IMDA (Infocomm Media Development Authority), Infosys, ING, Ingenico, iovation, Itiviti, ITMX (National Interbank Transaction Management and Exchange), JDE, JPMorgan, Kabbage, KASIKORNBANK, KBC, Knight Enterprise Fund, Maersk, Magento, Marriott International, Metavante, Microsoft, MoneyGram, MRL Posnet, NASDAQ, Natixis, Nordcloud, Novatti Group, Nuvei, OKCoin, OpenCart, Oracle, Ordo, P27 Nordic Payment Initiative, PayPal, Paysafe, PPRO, Rabobank, Red Hat, Reserve Bank of India, Riskified, RiskRecon, Route 66 Ventures, RRE Ventures, RSA, Sage, Samsung, Santander, SAP, SBI Investment, Scentre Group, Seagate Technology, Sense Corp, SessionM, Shopify, ShopWare, ShopWired, Société Générale, Software Group, Sony, Speedpay, SPS (SIX Payment Services), Staley Credit Union, State Bank of India, Stripe, SunGard, Taos, Technology One, TeraThink, Tetragon Financial Group Limited, Thales, ThreatMetrix, Tink, Truaxis, TruQua, Tutuka, UBS, UniCredit, UnionPay, United Arab Bank, Venmo, Verifi, VeriFone, VoPay, Walmart,, WeChat, Wells Fargo, Wendy, Western Union, Westpac, Wex, Wipro, Worldwide Holdings, Xero, Yoma Bank, YouTrip, Zelle.

Data & Interactive Forecast

Juniper Research’s B2B Payments forecast suite includes:
  • Market data split by the following payment types:
    • Card
    • Cash
    • Cheque
    • Instant Payments
    • Other
    • Virtual Card
    • Wire Transfer
  • Split by the following overall categories:
    • Cross-border B2B Payments
    • Domestic B2B Payments
  • Access to the full set of forecast data of over 110 tables and more than 24,000 datapoints.

Geographical splits: 25 countries

Harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables, overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the Interactive Scenario Tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a clients’ ability to both understand a particular market and to integrate their own views into the model.

Forecast Summary

The transaction value of B2B cross-border payments of all payment types will exceed $42.7 trillion in 2026, from $34 trillion in 2021. This growth of over 25% is being driven by the increased popularity of eCommerce marketplaces, which are generally cross-border in nature.
  • The B2B cross-border payments market is highly fragmented, with payments being slow, expensive and difficult to track. As cross-border eCommerce accelerates, B2B payments need to keep pace, with use of automation, instant payment rails and solutions like virtual IBANs, which enable acceptance of local payment options, critical to future success.
  • Blockchain has an important role in B2B cross-border payments, with services such as Visa B2B Connect and RippleNet having significant potential. However, blockchain is not essential to this process – a network of networks can be built without using blockchain, meaning blockchain vendors must emphasise unique abilities, such as traceability and immutability, to make it more appealing for B2B payments than the alternatives.
  • By 2026, 80% of the overall transaction value of B2B cross-border payments will be via wire transfers, an increase from 70% in 2021. Instant payments will account for a relatively low proportion of B2B wire transfers, at 22% of these by value in 2026. • Until cross-border instant payments are ubiquitous, payments vendors must cover gaps by ensuring that alternative and easy to manage methods, such as virtual cards, are available to businesses.

B2B Payments Full Research Suite


Full Research Suite

  • Competitor leaderboard report (pdf)
  • Market trends & strategies report (pdf)
  • Market data, forecasts and analysis report (pdf)
  • Market data, forecasts and interactivity (xls)
  • Quarterly updates to market data & forecasts (pdf, xls)
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Research FAQs

How big is the B2B payments market?
What is the B2B payments market growth?
Which segment accounted for the largest B2B payments market share?

Research Details

Juniper Research
Nick Maynard
Fintech & Payments
8 Key Regions - includes North America, Latin America, West Europe, Central & East Europe, Far East & China, Indian Subcontinent, Rest of Asia Pacific and Africa & Middle East
Argentina, Australia, Brazil, Canada, China, Colombia, Denmark, France, Germany, India, Italy, Japan, South Korea, Mexico, Netherlands, Norway, Poland, Portugal, Saudi Arabia, Singapore, South Africa, Spain, Sweden, UK, USA