Global B2B Payment Market Trends Report 2022: Technology Trends Such as AI, Block Chain, and Virtual Cards are Transforming the B2B Payment Ecosystem

DUBLIN – The B2B payment market continues to grow, with traditional payment methods still leading.

In light of the increasing use of digital channels, accelerated by the pandemic, B2B payments revenue is forecasted to witness a single-digit CAGR between 2020 and 2030, as stated in the report.

B2B payments are also seeing significant growth within the cross-border payment market, with the forecasted values reaching a figure in the trillions of euros by 2026. Moreover, payment systems are expected to be one of the top B2B E-Commerce technology investment areas in the year 2022.

In terms of the most demanded payment options, most of the B2B buyers globally were in favor of credit cards, followed by checks, and purchase orders. Although there has been a growing interest towards more digitalized and innovative B2B payment methods, for more than one-third businesses checks remained a popular B2B payment method in countries such as the U.S, as spelled out in the report.

Although the B2B payment share of cash and check in the U.S. has declined slightly as more modern payment methods are adopted, the value of the traditional payments is still higher than the innovative forms.

Technology trends such as AI, block chain, and virtual cards are transforming the B2B payment ecosystem

With emerging trends such as AI, block chain, automation, and others, the expectations of B2B customers are also changing. Corporate buyer are now looking for value-added solutions such as data transparency, cash pooling, corporate-to-bank connectivity via bank portals as well as streamlined processes to open a bank account, as mentioned in the publication.

At the same time, B2B sellers are taking initiatives to embrace automation in their accounting tasks, with a majority of B2B respondents planning to increase the use of technology to drive their accounting operations as of 2021.

Despite these steps being taken towards modernizing the B2B payments market, B2B firms still experience challenges when it comes to paying vendors and receiving payments from them. Invoice reconciliation, working capital management, slow underwriting, and inability to offer supplier portals were named as major obstacles faced by corporates while making payments to their suppliers in 2021.

Questions Covered:

• What are the latest trends that are changing the landscape of the B2B payments market?
• What is the forecasted transaction value of B2B payments in 2030?
• What are the main digital solutions that are offered to corporate customers by financial institutions?
• What are the B2B payment options that companies plan to expand in the next 12 months?
• What is the estimated B2B payment value for the U.S. market in the year 2022?

Key Topics Covered:

1. Management Summary

2. Global Developments

• B2B Payment Overview and Trends, August 2022
• Total Payment Revenue, by Type, in USD trillion, 2020, 2025f, & 2030f
• Wholesale Payments Revenue, in USD billion, and Breakdown by Primary and Secondary, in %, 2020, 2025f, & 2030f
• Cross-Border Payment Transaction Value, by B2B, B2C, C2B and C2C, in USD trillion, 2020-2022f
• Cross-Border B2B Payment Transaction Value, in USD trillion, 2021e & 2026f
• Share of Wire Transfer Payments, in % of Cross-Border B2B Payment Transaction Value, 2021e & 2026f
• Top Payment Options Demanded by B2B Buyers, in % of B2B Buyers, 2021e
• Top Payment Options That Corporates Would Plan to Increase Using in the Next 12 Months, in % of Firms, July 2021
• Challenges Faced by B2B Buyers During the Buying Process, in % of B2B Buyers, August 2021
• Top B2B E-Commerce Technology Investments for 2022 According to B2B Specialists, in % of Respondents, 2022e
• Top Digital Solutions That Financial Institutions Offer to Their Corporate Clients, in % of Financial Institutions, 2021
• Top Problem Areas for B2B Clients When Making Payments to Their Suppliers According to Financial Institutions, in % of Financial Institutions, 2021
• Top Accounts Payable Challenges Experienced When Paying Vendors, in % Business Respondents, July 2021
• Top Accounts Receivable Challenges Experienced When Receiving Payments From Vendors, in % of Business Respondents, July 2021
• Share of Firms Having a High Percentage of Overdue B2B Receivables, by Firm Size, in % of B2B Receivables, 2021e
• Share of Corporate Treasury Respondents for Whom Lack of Technology is a Major Challenge, in %, May 2021
• Top Challenges for Corporate Treasury Respondents Related to Implementing New Technology, in % of Respondents, May 2021
• Share of B2B Firms That Reported Serious Payment Fraud, in %, July 2021
• Share of Corporates That Indicate B2B Payment Solutions Are Very Important for Bank Selection, in %, 2021
• Share of Financial Institutions That Allow Their B2B Customers to Use Selected Digital Currencies, in %, 2021e
• Share of Financial Institutions That Plan to Expand And Provide Access to Cryptocurrency, in %, 2022e

3. Asia-Pacific

3.1. China

• Share of B2B Sales Made on Credit, in %, 2021 & 2022e
• Breakdown of Reasons Why Businesses Offered More Credit to B2B Customers over the Past 12 Months, in % of Respondents, 2021
• Breakdown of Outlook Related to Trading on Credit With B2B Customers Over the Next 12 Months, in % of Respondents, 2021

3.2. Japan

• Share of Small And Medium Sized Enterprises That Introduced Cashless Payments, by B2C SMEs and B2B SMEs, in %, Q1 2021
• Share of Small And Medium Sized Enterprises That Introduced Credit Card Payment, by B2C SMEs and B2B SMEs, in %, Q1 2021
• Top Reasons Why SMEs Do Not Use Card Payments For Business, in % of SME, 2021e

3.3. India

• Share of B2B Sales Made on Credit, in %, 2021 & 2022e
• Breakdown of Reasons Why Businesses Offered More Credit to B2B Customers over the Past 12 Months, in % of Respondents, 2021
• Share of B2B Sellers Considering Speed and Ability To Track Payment As the Main Benefit of Digital Payments, in %, 2021

3.4. Australia

• Share of Businesses That Attracted New Customers When They Offered BNPL as a B2B Payment Method, in %, 2021

4. North America

4.1. USA

• B2B Payments Value, in USD trillion, and Year-on-Year Change, in %, 2019-2022e
• Top Payment Methods Accepted by B2B Companies, in % of B2B Companies, August 2021
• B2B Payment Transaction Value, by Payment Method, in USD billion, 2019-2022f
• Share of B2B Payments Made via Checks, in %, 2021
• Breakdown of B2B Companies’ Plans Relating to Their Acceptance of Cryptocurrency as a Payment Method, in %, August 2021
• Breakdown of B2B Companies’ Interest in Accepting Cryptocurrency as a Payment Method, in %, August 2021
• Top Decision Factors for B2B Companies That Will Make Them Accept Cryptocurrency as a Payment Method, in % of B2B Companies, August 2021
• Breakdown of B2B Companies’ Plans to Accept Virtual Cards, in %, August 2021
• Top Decision Factors for B2B Companies That Will Make Them Accept Virtual Cards as a Payment Method, in % of B2B Companies, August 2021
• Share of B2B Payments Made And Received Using Real-time Payments, by Firm Size, in %, 2021
• Top Benefits Associated With The Adoption of Real-time Payments, in % B2B Firms, 2021
• Top Pain Points That B2B Firms Experience Using Real-time Payments, in % of B2B Firms, 2021

4.2. Canada

• Challenges That Could be Caused by Real-Time Payments According to B2B Businesses, in % of B2B Businesses, 2021
• Share of B2B Sales Made on Credit, in %, 2021 & 2022e
• Share of B2B Invoices That Were Paid On-time, Late, And That Became Bad Debts, in %, 2022e

5. Europe

5.1. Regional

• Share of B2B Sales Made on Credit, by Business Size and Business sector, in %, Q3 2021
• Breakdown of Change in Proportion of B2B Sales on Credit, in % of Respondents, Q3 2021
• Breakdown of Reasons Why Businesses Offered More Trade Credit to B2B Customers over Past 12 Months, in % of Respondents, Q3 2021

5.2. UK

• Domestic Payment Methods Preferred by Businesses, in % Businesses, November 2021
• Top Domestic Payment Issues That Businesses Face, in % Businesses, November 2021
• Cross-border Payment Methods Preferred by Businesses, in % Businesses, November 2021
• Top Cross-border Payment Issues That Businesses Face, in % Businesses, November 2021
• Traditional B2B Payment Options Used by Businesses, in %, November 2021
• Share of Businesses Using Modern B2B Payment Options, in %, November 2021

5.3. Germany

• Top 5 Payment Methods in B2B vs. B2C E-Commerce, September 2021

5.4. Italy

• Payment Methods Used in B2B Payments, in % of Large Businesses and SMEs, 2021
• Share of B2B Companies Thinking of Adopting Innovative Payment Methods, by Large Businesses and SMEs, in %, 2021
• Share of B2B Companies That Activated Digital Channels to Manage Orders and Transactions, in % of Companies, 2021

5.5. Russia

• Card Payments Made by Businesses*, incl. Number of Cards Used, in millions, Number of Transactions, in millions, and Value of Transactions, in RUB billion, by Type of Transaction, 2019-2021 & Q1 2022

6. Latin America

6.1. Regional

• Commercial Credit Card Spending, in USD billion, by Card Type, 2021-2026f

Companies Mentioned

• American Express
• Gocardless
• Lili
• Mastercard
• McKinsey
• N26
• PayPal
• Paypers
• Qonto
• Versapay
• Visa

Source: Research and Markets