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Insights on the B2B Payment Global Market to 2025 - B2B Companies are Sticking to Traditional Payment Methods, But Also Become More Open to Alternatives

Research and Markets
·8-min read

Dublin, July 28, 2021 (GLOBE NEWSWIRE) -- The "Global B2B Payment Market and Trends 2021" report has been added to ResearchAndMarkets.com's offering.

This report offers a comprehensive overview of the new developments and trends in the business-to-business payment market worldwide. Among other findings, the publication reveals that despite B2B players' resistance to rapid digital transformation, the process has begun and is likely to accelerate in the near future.

COVID-19 pandemic accelerated the need of B2B players to adopt digital payments

Even before the COVID-19 pandemic, B2B companies had realized the importance of digitalization, especially when it comes to payments. Nevertheless, the enterprises operating business-to-business, and usually those of larger sizes, are quite resistant to change. But as COVID-19 emphasized the inevitability of transforming B2B payments into digital, the process of shifting accelerated. For example, in just one year, the share of B2B companies that make over 90% of their payments electronically rose by twelve percentage points, reaching about one-fourth of the total B2B payments value in 2020, according to this report. Moreover, usage of B2B instant payments was also expected to grow in the next two years; this transition, however, was expected to happen at a rather slower pace.

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B2B companies stick to traditional payment methods, but also become more open to alternatives

Currently, B2B companies prefer traditional payments such as bank wire transfers, which is still many companies' go-to choice. These are followed by bank debit and cheques. When it comes to B2B E-Commerce specifically, credit card was the first choice of B2B enterprises in 2020, together with terms (30-60-90), and mobile wallets. Nevertheless, companies also have become more open to alternative payment methods, which, according to a global survey cited in the publication, comes with some challenges, such as a struggle to identify a solution that fits the industry, security concerns, and a lack of technological solutions.

Report Coverage

  • This report covers the B2B payment market including recent developments and industry trends. Information both about total B2B payment (all channels) and B2B E-Commerce payment specifically was included.

  • In addition to global developments, selected regional and country insights from four regions are provided, including Asia-Pacific, Europe, North America and Middle East.

Report Structure

  • The report opens with a global chapter. It contains information on global B2B payment developments. These include data on the current size and projections for the B2B payments market. Furthermore, market trends such as digital transformation and technological disruption are covered on qualitative (text) charts. In addition, the results of recent surveys of B2B buyers were cited in order to reveal business customers' expectations with regard to payments.

  • Regional chapters follow, ranked by B2B payments market size potential: Asia-Pacific, North America, Europe, and Middle East. Selected quantitative information for the major markets in these regions, including the USA, Canada, Mexico, China, Japan, Indonesia, Singapore, Hong Kong, Germany, the UK, Saudi Arabia and the UAE was provided to exemplify the global trends in general B2B payments and business-to-business E-Commerce payments. The type and scope of information included per country and region varied due to data availability and is intended to illustrate the overall market developments rather than cover the specific geographies.

Key Topics Covered:

1. Management Summary

2. Global

  • B2B Payment Trends for 2021, June 2021

  • B2B Digital Sales, in USD trillion, 2019 & 2020

  • B2B E-Commerce Sales, in USD trillion, 2018 - 2020e

  • Share of E-Commerce Sales, in % of Total B2B Sales, February 2021

  • Share of Digital Channels in B2B Sales Interactions Between Suppliers and Buyers, in % of Total, 2025f

  • Total Value of B2B Cross-Border Payments, in USD trillion, 2020e & 2022f

  • Share of Instant Payments in Value of Total B2B Transactions, in %, 2020e

  • Share of Instant Payments, by Volume and Value, in % of Total B2B Transactions, 2022f

  • Share of Instant Payments, in % of Total B2B and Consumer Digital Money Transfer and Banking Payments Value, 2025f

  • Share of B2B Payments, in % of Total Instant Payments Value, 2025f

  • Top Payment Methods Offered by B2B E-Commerce Businesses, in % of B2B Leaders, November 2020

  • Top Payment Methods Available, by B2C and B2B, in % of Payment Decision-Makers, 2020

  • B2B Electronic Payments, in % of Total Payments, 2019 & 2020

  • Top Payment Investment Priorities in the Next 12 Months, in % of B2B Leaders, July 2020

  • Companies' Fintech and Bank Strategies for B2B Payments, in % of B2B Leaders, 2019 & 2020

  • Top Factors to Impact B2B Companies' Decision to Use Fintech Payment Solutions, by Business Size, in % of B2B Leaders, July 2020

  • Top B2B Payments Obstacles, by Business Size, in % of B2B Leaders, July 2020

  • Likelihood of Organizations Converting Majority of their B2B Payment Made to Suppliers from Checks to Electronic/Digital Payments, in % of Corporate Practitioners, 2020

  • Barriers on Increasing Use of Electronic Payments for B2B Companies, in % of Corporate Practitioners, 2020

  • Payment Fraud Attempts after COVID-19 Compared to 2019, in % of Corporate Practitioners, 2020

  • Overview of Virtual Cards Usage in B2B Transactions, incl. B2B Virtual Cards, in % of Total Virtual Cards Transaction Value, 2025f

3. North America
3.1.Regional

  • Share of B2B Purchasing Running Through Digital, Self-Service Channels, in % of Purchasing Professionals, June 2020

3.2.United States

  • B2B E-Commerce Sales, and B2B E-Commerce Sales Combined with E-Procurement, in USD billion, 2019 & 2020

  • Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020

  • Share B2B SMBs that Saw an Increase in Online B2B Transactions Since COVID-19, in %, September 2020

  • Value of B2B Payment Transactions, by Payment Method, in USD trillion, and Breakdown of B2B Payment Methods, in % of Total Transaction Value, 2021f

  • Payment Methods Used For Recurring Purchases, by B2B and B2C and B2B-Only Companies, October 2020

  • Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q1 2020

  • Expected Changes in the Percentage of Overdue B2B Invoices Paid Late Over the Next 12 Months, in % of B2B Companies, Q1 2020

3.3.Canada

  • Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020

  • Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q1 2020

  • Expected Changes in the Percentage of Overdue B2B Invoices Paid Late Over the Next 12 Months, in % of B2B Companies, Q1 2020

3.4.Mexico

  • Share of B2B Payments Value Made on Credit, in %, 2019 & 2020e

  • Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q1 2020

  • Expected Changes in the Percentage of Overdue B2B Invoices Paid Late Over the Next 12 Months, in % of B2B Companies, Q1 2020

4.Europe
4.1.Regional

  • Expected Online Sales Growth by 2023, in % of Leading Manufacturers, 2020

  • Change in the Proportion of B2B Sales on Credit Compared to Pre-COVID-19, in % of B2B Companies, Q3 2020

4.2.United Kingdom

  • Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020

  • Share of Mostly or Fully Automated B2B Payment-Related Processes, by Payment Channel, in % of Senior Decision-Makers, April 2021

  • Top Reasons Why B2B Buyers Switched to a New Supplier as a Result of COVID-19, in % of B2B Buyers, April 2020

  • Top Aspects of the B2C Customer Experience Would B2B Buyers Like to See, in % of B2B Buyers, April 2020

4.3.Germany

  • Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020

  • Payment Methods Offered, by All, New and Existing Customers, in % of B2B E-Commerce Companies, January 2021

  • Payment Methods Offered, by Company's Size, in % of B2B E-Commerce Companies, January 2021

  • Methods Used to Process Payments Data from Different Channels and Service Providers, by Company's Size, in % of B2B Omnichannel Companies, January 2021

5. Asia-Pacific
5.1.Regional

  • Market Share of B2B E-Commerce, by Countries, in % of Total E-Commerce Market, 2020e

  • B2B Payments Market Revenue, in USD billion, 2018 & 2025f

5.2.China

  • B2B E-Commerce Transaction Value, in CNY trillion, and Year-on-Year Change, in %, 2015 - 2020

  • Corporate Procurement Purchases E-Commerce Market Size, in CNY trillion, 2019 & 2022f

  • Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020

  • Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q2 2021

5.3.Japan

  • Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020

  • B2B E-Commerce Sales, in JPY trillion, and Penetration, in %, 2015 - 2019

  • Overview of JCB Activity on the B2B Payments Landscape Post-COVID-19, June 2021

  • Overview of Select B2B Payment Platforms, incl. Fees Charged, June 2021

5.4.Singapore

  • Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q2 2021

5.5.Indonesia

  • Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q2 2021

  • Share of B2B Companies that Perceived a Slow Down in Their Clients' Invoice Payments over the past 12 months, in %, Q2 2021

5.6.Hong Kong

  • Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q2 2021

  • Share of B2B Companies that Did not Perceive Change in Payment Timing over the Past 12 Months, in %, Q2 2021

6. Middle East
6.1.Regional

  • Overview of Mastercard's Activity Post-COVID-19, June 2021

  • Overview of Visa's Activity Post-COVID-19, June 2021

6.2.Saudi Arabia and UAE

  • Overview of the Current State and Businesses' Expectations in B2B E-Commerce, January 2021

  • Share of B2B Companies that Make their Purchases Primarily Online, in %, January 2021

  • Share of B2B Companies that Make their Purchases Primarily Online, in %, January 2021

Companies Mentioned

  • FAB

  • HSBC bank

  • JCB

  • LayerX

  • Mastercard

  • Santa Cruz

For more information about this report visit https://www.researchandmarkets.com/r/y7t2mh

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900