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B2B Digital Payment Market Size - By Type (Digital Commerce, Digital Remittances, Mobile POS Payments), End-User Industry (Retail, BFSI, IT & Telecom, Healthcare, Travel & Hospitality, Transportation & Logistics, E-commerce) & Global Forecast, 2023 – 2032

  • Report ID: GMI6994
  • Published Date: Oct 2023
  • Report Format: PDF

B2B Digital Payment Market Size

B2B Digital Payment Market size was valued at USD 6.1 trillion in 2022 and is estimated to register a CAGR of 17% between 2023 and 2032, attributed to the greater efficiency and cost savings offered by digital payments compared to traditional payment methods. These attributes help streamline financial transactions and reduce operational expenses, thus contributing to market growth. Automation and digitalization simplify payment processes, eliminating the time-consuming paperwork and manual tasks associated with traditional methods.

B2B Digital Payment Market

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To that end, in September 2023, in a strategic initiative to transform B2B digital payments for the benefit of both enterprises and vendors, Mastercard joined forces with KredX, a supply chain finance platform. Through this, Mastercard will seamlessly integrate its commercial card services into the KredX platform, simplifying the complexities often associated with B2B card payments. Such efforts not only accelerate transaction times but also cut down on administrative costs, making digital payments an attractive option for businesses seeking to optimize their financial operations and improve their bottom line.


However, on the flip side, many businesses have longstanding processes and legacy systems in place for handling payments. Transitioning to digital payment methods can be costly and disruptive. Besides, some businesses are hesitant to change due to inertia, the fear of disrupting existing operations, and the need for substantial investments in new technology and training. This can deter them from fully embracing digital payment solutions, limiting the growth of the b2b digital payments industry.

COVID-19 Impact

The COVID-19 pandemic had a significant impact on the B2B digital payment market. The pandemic increased concerns about the health risks associated with handling physical currency, which forced businesses to shift toward digital payment methods. Also, digital payments allowed businesses to maintain business operations and ensure the timely settlement of invoices and bills, despite lockdowns and disruptions to traditional payment processes. Furthermore, the growing need for streamlined operations and financial efficiency led businesses to adopt digital payment solutions that automate invoicing, reconciliation, and reporting.

B2B Digital Payment Market Trends

Globalization and cross-border transactions are playing a key role in strengthening the b2b digital payments industry outlook. With the growth of international trade and globalization, B2B transactions often involve cross-border payments. A 2022 study by Mastercard suggests that the pandemic has spurred a 47% increase in international business activities for small enterprises. A significant 68% of small businesses attribute their survival to the effective operation of the global payment network.

Digital payment solutions can streamline cross-border transactions by offering competitive exchange rates, reducing currency conversion fees, and expediting the transfer process. This makes it easier for businesses to engage in global commerce, favoring the adoption of b2b digital payments.

Blockchain and Distributed Ledger Technology (DLT) integration has significantly transformed the B2B digital payments market landscape. These technologies offer enhanced security, transparency, and efficiency in transactions. Smart contracts have the potential to automate complex B2B payment processes, reducing the need for intermediaries and minimizing the risk of disputes.

Industry participants are also putting their foot forward and developing strategic alliances to deliver new offerings to businesses and keep up with their growing demand. For instance, in May 2023, RocketFuel Blockchain, Inc., a prominent global provider of payment solutions incorporating ACH bank transfers, Bitcoin, and diverse cryptocurrencies, unveiled a noteworthy partnership with Zebra Digital, Inc., a well-known global technology firm. This strategic collaboration is geared toward transforming cross-border business-to-business (B2B) financial transactions by harnessing stablecoins and other cryptocurrency alternatives.

B2B Digital Payment Market Analysis:

B2B Digital Payment Transactional Value, By Type, 2021 – 2032, (USD Trillion)

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The digital commerce segment recorded around 60% of the market share in 2022, primarily led by the imperatives of speed, convenience, and efficiency. Businesses increasingly seek streamlined payment processes that accelerate transactions and reduce administrative overhead. Digital payments provide real-time processing, enabling companies to respond quickly to market dynamics. Moreover, they offer the convenience of conducting transactions 24/7, fostering global trade by overcoming time zone constraints. Enhanced security measures, cost savings, and the ability to integrate with accounting systems further fuel the demand as businesses embrace the digital transformation of their financial operations.

B2B Digital Payment Market Share, By End-User Industry, 2022

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The IT and telecom segment accounted for 25% of the b2b digital payment market share in 2022. The fast-paced nature of the IT & telecom industry demands quick, efficient financial transactions. Digital payments offer real-time processing, ensuring rapid settlements. The global presence of IT and telecom companies necessitates cross-border payments, which are streamlined by digital solutions, reducing currency conversion costs. Additionally, the sector's heavy reliance on technology encourages adoption. Besides, digital payments enhance security, a vital concern in the industry, while enabling businesses to automate financial processes, reducing errors and operational costs, thus driving their adoption.

China B2B Digital Payment Transactional Value, 2021 -2032, (USD Trillion)

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Asia Pacific b2b digital payments market size held over 43% of the revenue share in 2022, due to several key factors. The region's vast and diverse business landscape is increasingly adopting digital payment solutions to enhance efficiency and reduce costs. Additionally, the rapid growth of e-commerce, digital marketplaces, and the expansion of cross-border trade is driving the need for secure and convenient payment methods. Industry leaders and governments in the region are also promoting digitalization, and a young, tech-savvy workforce is accelerating the adoption of these solutions, making the Asia Pacific a thriving hub for B2B digital payments.

For instance, in June 2023, SAP SE and Visa unveiled a collaboration focused on enhancing and simplifying business-to-business (B2B) payments for companies, regardless of their size. Initially focusing on the Asia-Pacific region, this partnership will integrate payment solutions within the SAP ecosystem using the SAP Business Technology Platform (SAP BTP), thereby accelerating the digital transformation of B2B payment processes throughout the supply chains in the Asia-Pacific region.

B2B Digital Payment Market Share

Major companies operating in the B2B digital payment market are:

  • ACI Worldline 
  • Apple Inc. 
  • Block, Inc. 
  • Fiserv Inc.
  • Global Payments Inc. 
  • Google LLC 
  • Mastercard Incorporated 
  • PayPal Holdings, Inc. 
  • Samsung Electronics Co., Ltd. 
  • Stripe, Inc. 
  • Visa Inc. 
  • Worldline SA 

Mastercard Incorporated and Visa Inc. hold a significant share of the market. Major companies operating in the market in their unwavering quest for industry growth, these enterprises carefully plan and implement strategies to bolster their revenue share. They do so by conducting assertive marketing campaigns and improving their product portfolios to penetrate the B2B digital payments market effectively. Moreover, they keep a vigilant eye on competitors, swiftly adjust to emerging trends, and invest in customer-centric strategies to gain a competitive advantage and bolster their market footprint.

B2B Digital Payment Industry News

  • In September 2023, Mastercard and Oracle unveiled a strategic partnership designed to streamline B2B payments for enterprise clients. This joint effort will incorporate Mastercard's virtual card platform into the Oracle Fusion Cloud Enterprise Resource Planning (ERP) system, automating the B2B financial and payment procedures. The primary goal of this collaboration is to tackle the issues that numerous companies encounter when dealing with commercial payments, including the complexities of managing disconnected data, systems, and operational processes.

The B2B digital payment market research report includes in-depth coverage of the industry with estimates & forecast in terms of transactional value (USD Billion) and transactional volume (million) from 2018 to 2032, for the following segments:

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Market, By Type

  • Digital commerce
  • Digital remittances
  • Mobile POS payments

Market, By End-User Industry

  • BFSI
  • Transportation & logistics
  • IT & telecom
  • Healthcare
  • Retail
  • Travel & hospitality
  • E-commerce
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Thailand
    • Indonesia
    • Philippines 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • South Africa
    • Saudi Arabia


Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of B2B digital payment reached USD 6.1 trillion in 2022 and is poised to grow at over 17% CAGR between 2023 and 2032, led by the dire need for greater efficiency and cost savings.

The digital commerce type segment held over 60% share of the market share in 2022, propelled by the imperatives of speed, convenience, and efficiency.

APAC market accounted for 43% of the market share in 2022, due to the rapid growth of e-commerce, digital marketplaces, and the expansion of cross-border trade.

Google LLC, ACI Worldline, Apple Inc., Mastercard Incorporated, Block, Inc., Fiserv Inc., Global Payments Inc., PayPal Holdings, Inc., Samsung Electronics Co., Ltd., Stripe, Inc., and Visa Inc. are some of the well-known B2B digital payment firms.

B2B Digital Payment Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 244
  • Countries covered: 21
  • Pages: 220
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