B2B Payments Market Size and Share
Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Market Size (2025) | USD 1.42 Trillion |
| Market Size (2030) | USD 2.98 Trillion |
| Growth Rate (2025 - 2030) | 15.89% CAGR |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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B2B Payments Market Analysis by Mordor Intelligence
The B2B payments market is valued at USD 1.42 trillion in 2025 and is set to reach USD 2.98 trillion by 2030, advancing at a 15.89% CAGR. Expansion rests on faster real-time rails, growing adoption of virtual cards, and embedded finance that integrates payments directly into enterprise software. Global real-time payment networks cleared 266.2 billion transactions in 2023 and are lifting expectations for instant settlement across corporate treasuries. [1]ACI Worldwide, “Prime Time for Real-Time Report Executive Summary,” ACI Worldwide, April 2024, aciworldwide.com Large enterprises still drive volume, yet small and medium businesses (SMEs) add incremental lift as simplified onboarding lowers entry barriers. Meanwhile, cross-border commerce and new regulatory mandates around e-invoicing tighten the link between compliance and digitization, prompting firms to modernize workflows. Competitive pressure is also rising as fintech specialists and network incumbents broaden product suites, making pricing, value-added data services, and fraud controls key differentiators.
Key Report Takeaways
- By payment type, domestic transactions commanded 83.23% of the B2B payments market share in 2024, while cross-border flows are forecast to grow at a 20.34% CAGR through 2030
- By payment mode, traditional instruments held 65.21% of the B2B payments market in 2024; digital modes are expanding at 22.74% CAGR to 2030
- By enterprise size, large corporates accounted for 60.34% of the B2B payments market in 2024, whereas SMEs show the highest growth at an 18.23% CAGR
- By end-user vertical, BFSI led with 25.23% revenue share in 2024; “other” verticals—including healthcare and professional services—are projected to rise at a 20.35% CAGR
- By geography, North America dominated with 34.74% of the B2B payments market share in 2024, but Asia-Pacific posts the fastest 18.24% CAGR to 2030
Global B2B Payments Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Acceleration of Real-Time Payment Infrastructure Adoption in North America and Asia | +2.5 | North America, Asia-Pacific, with spillover to Europe | Medium term (~ 3-4 yrs) |
| Surge in B2B Marketplace Platforms Demanding Embedded Payment Capabilities | +2.1 | Global, with concentration in North America and Europe | Medium term (~ 3-4 yrs) |
| Regulatory Push Towards Digital Invoicing and e-VAT in Europe Boosts Digital B2B Payments | +1.8 | Europe, with gradual adoption in North America and Asia-Pacific | Long term (≥ 5 yrs) |
| Working-Capital Optimization Initiatives Driving Corporate and Virtual Card Uptake Globally | +1.5 | Global, with early adoption in North America | Short term (≤ 2 yrs) |
| Expansion of Cross-Border E-commerce by SMEs Fuels Demand for Multi-Currency Solutions | +1.3 | Global, with emphasis on emerging markets | Medium term (~ 3-4 yrs) |
| Migration from Legacy Paper Cheques to ACH and RTP in the U.S. and Canada | +1.0 | North America | Short term (≤ 2 yrs) |
| Source: Mordor Intelligence | |||
Acceleration of Real-Time Payment Infrastructure Adoption in North America and Asia
RTP rails are redefining corporate liquidity management. India’s UPI processed 129.3 billion transactions in 2023, while Brazil’s PIX cleared 37.4 billion. In the United States, the FedNow Service complements the existing RTP Network, moving funds within seconds instead of the multi-day automated clearing house cycle. Faster settlement removes float, improves forecasting, and reduces reliance on costly credit lines. ACI Worldwide estimates RTP could add USD 285.8 billion to global GDP by 2028, underscoring macro-level benefits. Treasury teams are therefore updating internal policies and ERP connectors to exploit 24/7 settlement windows and richer payment data.
Surge in B2B Marketplace Platforms Demanding Embedded Payment Capabilities
B2B marketplaces now extend beyond discovery to encompass financing, escrow, and insurance, all underpinned by native payments. Embedded payment volume is expected to jump from USD 4.1 trillion in 2024 to USD 16 trillion by 2030, quadrupling the revenue pool for platform providers. Better conversion rates, automated reconciliation, and wallet-based cash management encourage enterprises to migrate spend. For many SMEs, marketplace funding options also bridge working-capital gaps, making payment integration a strategic lever rather than a back-office concern.
Regulatory Push Towards Digital Invoicing and e-VAT in Europe Boosts Digital B2B Payments
The European Union’s ViDA package mandates e-invoicing for intra-EU B2B deals starting July 2030, standardising data formats and real-time reporting [2]EDICOM Group, “ViDA – The EU Promotes B2B Electronic Invoicing,” EDICOM Group, March 11, 2025, edicomgroup.com. The European Commission projects savings of up to EUR 177 billion (USD 187 billion) from streamlined VAT compliance. Providers that embed tax validation within payment flows gain a structural advantage, as corporates seek seamless links between invoicing, reconciliation, and settlement. Pan-regional consistency also accelerates adoption of instant credit transfers under the SEPA instant scheme.
Working-Capital Optimisation Initiatives Driving Corporate and Virtual Card Uptake Globally
Virtual cards turn payables into liquidity tools by extending days-payable-outstanding while offering suppliers accelerated funds. Transaction value is on track to reach USD 6.8 trillion by 2026 [3]American Express, “Virtual Cards: The Future of B2B Payments,” American Express, April 10, 2025, americanexpress.com. American Express notes a 54% increase in middle-market usage as firms pivot from paper checks prone to 65% fraud attempts. Dynamic spend controls and automated ledger coding further reduce manual processing, making virtual cards a double dividend of efficiency and revenue share rebates.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Fragmented Global Compliance (FX, AML, KYC) Slows Cross-Border Flows | -1.7 | Global, with particular impact on emerging markets | Medium term (~ 3-4 yrs) |
| Persistent Payment Fraud & Business Email Compromise Undermines Digital Trust | -1.4 | Global, with higher impact in North America | Short term (≤ 2 yrs) |
| ERP Integration Complexity for Mid-Market Enterprises | -1.1 | Global, with concentration in developed markets | Medium term (~ 3-4 yrs) |
| High Interchange & FX Fees in Cost-Sensitive Segments | -0.9 | Global, with higher impact in emerging markets | Short term (≤ 2 yrs) |
| Source: Mordor Intelligence | |||
Fragmented Global Compliance Slows Cross-Border Flows
Only 50.6% of wholesale cross-border payments settle within an hour, partly due to divergent AML and KYC regimes. Multi-jurisdiction screening, variable FX documentation, and local reporting rules increase touchpoints and cost, stalling the B2B payments market expansion in emerging regions. Harmonisation through common messaging standards such as ISO 20022 is progressing, yet gaps remain where banks and non-banks interpret guidance differently.
Persistent Payment Fraud and Business Email Compromise Undermines Digital Trust
The FBI tallied USD 8.5 billion in BEC losses between 2022 and 2024 [4]Nacha, “FBI’s IC3 Finds Almost USD 8.5 Billion Lost to Business Email Compromise,” Nacha, April 24, 2025, nacha.org. Checks remain the most attacked channel, but threat actors now pivot to spoofed ACH instructions and vendor file takeovers. Association for Financial Professionals data shows 63% of firms experienced BEC attempts last year, creating adoption hesitancy for digital newcomers. Enhanced tokenisation, machine-learning anomaly detection, and multi-factor authentication form the defensive triad, yet change-management and user training remain vital.
Segment Analysis
By Payment Type: Cross-Border Transactions Outpace Domestic Growth
Domestic transfers held 83.23% of the B2B payments market in 2024, supported by entrenched rails and same-currency billing. Cross-border flows, however, are projected to grow at 20.34% CAGR, pushing the B2B payments market size for international transactions toward USD 50 trillion by 2032. Rising digital services trade and diversified supply bases drive corporates to seek multi-currency solutions that bypass traditional correspondent networks.
Although domestic dominance persists, cross-border pain points—opaque fees, multiple FX spreads, and fragmented compliance—create a sizable innovation gap. Only 33.5% of international payments currently settle within an hour. Providers offering virtual accounts, pooled liquidity, and rule-based currency conversion capture share as treasurers shift to cost-transparent alternatives.
By Payment Mode: Digital Disruption Accelerates Despite Traditional Dominance
Traditional channels such as checks and legacy ACH retained 65.21% of the B2B payments market in 2024 due to inertia in back-office processes. Digital instruments, ranging from RTP to virtual cards, will expand at 22.74% CAGR, narrowing the gap and driving the B2B payments market size for digital modes to nearly match traditional volumes by 2030. Real-time rails already account for 27.8% of electronic payments in some mature corridors.
Checks remain surprisingly prevalent—91% of North American organisations still issue them—yet 63% report related fraud, accelerating planned migration. AI-powered invoice matching and straight-through processing lift adoption by cutting manual exception handling. As platform integrations deepen, end-users view electronic settlement as the default, reserving paper instruments for residual use cases only.
By Enterprise Size: SMEs Drive Innovation Despite Large-Enterprise Dominance
Large organisations represented 60.34% of the B2B payments market share in 2024, leveraging scale contracts and bank connectivity. The SME segment is forecast to grow at 18.23% CAGR through 2030, reflecting rising accessibility to embedded finance tools and marketplace solutions. The B2B payments industry now tailors low-code APIs and lightweight KYC to shorten SME onboarding.
SMEs face acute cash-flow gaps; 75% report delayed receivables and a 56-day average DSO. Card acceptance mitigates delay, with firms that exceed 40% card usage cutting settlement lag to one day. Providers bundling invoicing, pay-by-link, and early-payment discount engines gain SME loyalty and recurring revenue.
By End-User Vertical: BFSI Leads While Diversification Accelerates
BFSI captured 25.23% of the B2B payments market in 2024, benefiting from regulatory permissioning and scale. Yet healthcare, retail, IT, and professional services form the fastest-growing “other” cohort at 20.35% CAGR, as vertical SaaS overlays embed tailored payment flows. For instance, energy firms deploy B2B wallets to streamline EV-charging settlement, and government agencies adopt digital platforms to improve revenue collection.
Diversification pressures providers to package compliance, financing, and analytics within sector-specific workflows. The B2B payments market thereby tilts toward modular architectures that allow rapid configuration without heavy custom coding.
Geography Analysis
North America accounted for 34.74% of the B2B payments market in 2024, underpinned by early RTP adoption and deep card penetration. The U.S. segment alone is forecast to expand from USD 460 billion in 2024 to USD 1,080 billion by 2033. Nonetheless, check usage remains high, reflecting legacy system coexistence even as fraud exposure rises. Enterprises gradually consolidate treasury platforms to exploit FedNow capabilities and gain richer data granularity.
Asia-Pacific is the fastest-growing region with an 18.24% CAGR to 2030. India’s UPI, Indonesia’s BI-FAST, and China’s rapid merchant QR adoption exemplify government-backed digital infrastructure rollouts. Cross-border trade growth among SMEs further accelerates multi-currency wallet demand. Japan and South Korea focus on ISO 20022 harmonisation, while Australia’s NPP adds overlay services that support request-to-pay functionality.
Europe benefits from regulatory harmonisation. The ViDA mandate institutionalises e-invoicing and digital reporting across the bloc, reinforcing adoption of SEPA Instant Credit Transfer. The B2B payments market size for euro-denominated instant payments expands as corporates integrate invoice validation directly with payment execution. The United Kingdom, Germany, and France remain early adopters, while southern and eastern member states close the gap through infrastructure grants.
South America’s momentum stems from Brazil’s PIX, the world’s second-largest RTP system. Cross-border corridors connecting the region to North America see fee compression as fintech entrants challenge traditional correspondent chains. In the Middle East, real-time volume is projected to triple to 3 billion by 2028, spurred by UAE’s Instant Payment Platform. Africa’s USD 3 trillion payments opportunity hinges on mobile money rails, where hybrid agency banking models bring SMEs into formal ecosystems.
Competitive Landscape
The B2B payments market shows moderate concentration, with card networks, global banks, and fintech platforms vying for share. Visa Commercial Solutions processed USD 1.7 trillion in 2024, expanding value-added services such as data enrichment and fraud scoring. Mastercard pushes into accounts-receivable automation through PayMate to strengthen its footprint in Eastern Europe, the Middle East, and Africa. American Express records all-time highs in commercial card volume as virtual card adoption rises.
Fintech specialists scale through ecosystem integrations. Stripe broadens treasury services, enabling clients to hold balances and route payouts in local currencies. Airwallex and Rapyd leverage multi-currency wallets and local licence portfolios to simplify cross-border settlement for marketplaces. Nuvei integrates with Sage Intacct Construction Real Estate to solve milestones and lien waivers specific to construction billing.
Strategic partnerships and selective divestitures signal portfolio refocusing. PairSoft’s collaboration with Bottomline embeds the Paymode network into ERP workflows, blending accounts-payable automation with payment execution. Banks respond with APIs and white-label solutions, offsetting interchange compression with analytics and supply-chain financing fees. Artificial intelligence becomes a competitive wedge, with players investing in predictive risk scoring to lower false positives without increasing loss rates.
B2B Payments Industry Leaders
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Visa Inc.
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Mastercard Incorporated
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American Express Company
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JPMorgan Chase and Co.
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Fidelity National Information Services, Inc. (FIS Global)
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- April 2025: American Express reported record 2024 commercial card volume, attributing gains to higher virtual card uptake among mid-market firms.
- March 2025: PairSoft partnered with Bottomline to integrate Paymode into its AP suite, providing secure vendor payments inside existing ERP screens.
- April 2025: American Express reported record 2024 commercial card volume, attributing gains to higher virtual card uptake among mid-market firms.
- November 2024: Mastercard and PayMate formed a partnership to deepen B2B payment penetration across EEMEA, combining network acceptance with working-capital tools.
Global B2B Payments Market Report Scope
B2B payments is the transfer of value denominated in currency from buyer to supplier for good or services supplied. B2B payments can be a one time or recurring transaction depending on the contractual agreement made between the buyer and supplier.
The B2B payments market is segmented by payment type (domestic payments, cross border payments), by payment mode (traditional, digital), by enterprises (SMEs, large enterprises), end-user verticals (BFSI, IT and telecom, manufacturing, energy and utilities, government, other end-user verticals), geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| Domestic Payments |
| Cross-Border Payments |
| Traditional |
| Digital |
| Small and Medium Enterprises (SMEs) |
| Large Enterprises |
| Banking, Financial Services and Insurance (BFSI) |
| Information Technology and Telecom |
| Manufacturing |
| Energy and Utilities |
| Government and Public Sector |
| Other End-user Verticals |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | United Kingdom |
| Germany | |
| France | |
| Italy | |
| Rest of Europe | |
| Asia-Pacific | China |
| Japan | |
| India | |
| South Korea | |
| Rest of Asia-Pacific | |
| South America | Brazil |
| Argentina | |
| Rest of South America | |
| Middle East | United Arab Emirates |
| Saudi Arabia | |
| Rest of Middle East | |
| Africa | South Africa |
| Rest of Africa |
| By Payment Type | Domestic Payments | |
| Cross-Border Payments | ||
| By Payment Mode | Traditional | |
| Digital | ||
| By Enterprise Size | Small and Medium Enterprises (SMEs) | |
| Large Enterprises | ||
| By End-User Vertical | Banking, Financial Services and Insurance (BFSI) | |
| Information Technology and Telecom | ||
| Manufacturing | ||
| Energy and Utilities | ||
| Government and Public Sector | ||
| Other End-user Verticals | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Europe | United Kingdom | |
| Germany | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Asia-Pacific | China | |
| Japan | ||
| India | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| South America | Brazil | |
| Argentina | ||
| Rest of South America | ||
| Middle East | United Arab Emirates | |
| Saudi Arabia | ||
| Rest of Middle East | ||
| Africa | South Africa | |
| Rest of Africa | ||
Key Questions Answered in the Report
What is the current value of the B2B payments market?
The B2B payments market stands at USD 1.42 trillion in 2025 and is projected to reach USD 2.98 trillion by 2030.
Which region is growing fastest in B2B payments?
Asia-Pacific shows the highest expansion, registering an 18.24% CAGR for 2025–2030, driven by national instant-payment schemes and cross-border trade.
Why are virtual cards gaining traction in corporate payments?
Virtual cards extend payment terms, provide secure tokenised details, and deliver rebate income, propelling transaction value toward USD 6.8 trillion by 2026.
How significant are real-time payments for businesses?
Real-time rails handled 266.2 billion transactions in 2023 and can reduce liquidity traps, with studies suggesting a USD 285.8 billion GDP uplift by 2028.
What challenges slow cross-border B2B payments today?
Divergent FX, AML, and KYC regulations limit straight-through processing; only 50.6% of wholesale payments credit within an hour, according to the Financial Stability Board.
How exposed are companies to payment fraud?
The FBI reports USD 8.5 billion in BEC losses over 2022–2024, and 63% of firms experienced attempts last year, making layered security essential.
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