Corporate Flows B2B Payment Market Size - By Payment (Cross-border Payments, Domestic Payments), By Enterprise Size (SMEs, Large enterprises), By Solutions, By Industry Vertical & Forecast, 2024 - 2032

Corporate Flows B2B Payment Market Size - By Payment (Cross-border Payments, Domestic Payments), By Enterprise Size (SMEs, Large enterprises), By Solutions, By Industry Vertical & Forecast, 2024 - 2032

Corporate Flows B2B Payment Market Size

Corporate Flows B2B Payment Market size was valued at USD 1.19 trillion in 2023 and is estimated to register a CAGR of over 7.9% between 2024 and 2032.

The continuous innovations and integration of technological advancements such as blockchain, Artificial Intelligence (AI) and Machine Learning (ML) in payment technology in the corporate and B2B payments segment are expected to fuel market growth. Due to an increase in digitization across industries, businesses are adopting electronic payment solutions for efficiency, accuracy, and speed. The growth of international trade and cross-border transactions is also significantly boosting the demand for secure & efficient B2B payment solutions.

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Additionally, regulatory frameworks, such as PSD2 in Europe, are pushing companies to adopt more transparent & secure payment methods. Businesses are increasingly emphasizing payment experiences for clients, which promotes the adoption of user-friendly and integrated payment solutions.
 

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In corporate flows B2B payment market, data privacy and security concerns pose significant challenges. As these systems handle sensitive information, ensuring robust security measures is crucial. Organizations must comply with data protection regulations to safeguard the data from unauthorized access or breaches due to increasing incidences of cyber-attacks and frauds. Additionally, ensuring compliance with the complex & constantly evolving regulatory landscapes can be challenging and costly for businesses as any non-compliance can lead to significant fines and reputational damage for businesses.

Corporate Flows B2B Payment Market Trends

There is a rapid evolution in the technology within the corporate and B2B payments segment. Technologies, such as Blockchain, Artificial Intelligence (AI) and Machine Learning (ML), are increasingly being adopted for security, transparency and efficiency of transactions, enhancing fraud detection, automating payment processes, and providing predictive analytics for cash flow management. It is particularly useful for cross-border payments, offering security, faster processing times, and reduced costs. Application Programming Interfaces (APIs) are enabling seamless integration of payment solutions with the existing ERP and accounting systems. This integration facilitates automation and real-time data sharing.

The use of digital currencies in B2B payments is on the rise as it provides speed, stability, transparency, and cost-effectiveness. In order to protect payment data from the increasing threats of cyber-attacks and frauds, businesses are investing in advanced security measures including multi-factor authentication, encryption, and tokenization. Integration of payment solutions with mobile phones provides flexibility and convenience. The COVID-19 pandemic has given rise to contactless solutions to minimize physical contact and enhance payment efficiency.

For instance, in May 2024, Worldline, a provider of payment services, partnered with Visa to launch a new virtual card issuing solution aimed at enhancing payment efficiency and security to meet the specific needs of the rapidly expanding Online Travel Agency (OTA) sector. Modern day technology, such as RegTech (Regulatory Technology), helps businesses by automating compliance processes with the complex regulatory landscape.

Corporate Flows B2B Payment Market Analysis

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Based on payment, the market is divided into cross-border payments and domestic payments. The cross-border segment generated revenue over USD 544 billion in 2023, due to the rising demand for fast, accurate, and secure payment solutions in international trade activities. Innovations in financial technology, such as blockchain and distributed ledger technologies, are enhancing the efficiency, security, transparency, speed reduced costs of cross-border payments. Advanced payment solutions offer tools to nullify currency exchange risks in cross-border transactions by providing real-time currency exchange rate monitoring.

Governments and trade organizations are taking efforts to establish bilateral trade agreements and economic partnerships so as to simplify and smoothen financial transactions between the countries. Rapidly growing emerging economies are seeking more active participation in the global economy, contributing to increased volumes of cross-border transactions.

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Based on the enterprise size, the corporate flows B2B payment market is categorized into SMEs and large enterprises. This segment holds over 67% market share in 2023. Large enterprises have been increasingly demanding fast, accurate, and secure payment solutions. These efficient payment platforms streamline and make the handling of high volumes of transactions in large enterprises efficient. Large amounts of financial data are generated by operations conducted by these large enterprises in multiple countries. These enterprises also require simplified processes for managing multiple currencies and navigating diverse regulatory environments.

The size and scale of large enterprises make them vulnerable as prime targets for cyber-attacks and fraud, which can be reduced by advanced security features such as encryption, multi-factor authentication, and tokenization. Large enterprises require sophisticated data analytics and reporting capabilities to gain insights into their payment processes due to the extensive amounts of data they handle. Timely and accurate payments made possible by these advanced payment solutions foster trust and reliability between these enterprises and their vast network of suppliers. Adopting advanced B2B payment solutions can also differentiate and enhance the position of these large enterprises amongst their competitors.

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In North America, the corporate flows B2B payment market is experiencing growth, with a share of over 33% in 2023, driven by the region's status as a hub for fintech innovations. Changes in regulatory frameworks, such as the introduction of the U.S. Faster Payments Council and updates to the Canadian Payments Act, are driving the adoption of modern B2B payment solutions. For instance, in 2023, the Federal Reserve launched its FedNow Service to provide real-time payment and settlement services.

The rise of open banking and API integration is enabling seamless connectivity between different financial systems, thereby enhancing the efficiency and flexibility of B2B payments. For instance, in 2023, the U.S. Consumer Financial Protection Bureau (CFPB) announced plans to implement open banking regulations, encouraging innovations in payment solutions. The extensive cross-border trade between North America and other regions, particularly in the USMCA framework, necessitates efficient & cost-effective cross-border payment solutions.

In Europe, the corporate flows B2B payment market is expanding due to stringent regulatory environments that emphasize secure, compliant transactions, driving the adoption of digital payment solutions. Additionally, a strong focus on financial technology innovation supports the development of advanced payment systems, catering to diverse business needs across the region.

Corporate Flows B2B Payment Market Share

Visa, Mastercard, Citigroup dominate the corporate flows B2B payment industry holding over 8% market share, providing a range of solutions that cater to the evolving business needs. Visa offers solutions, such as Visa Business Solutions, Visa B2B Connect, and Data Solutions, to streamline & secure faster business payments, improve cash flow, enhance financial engagement & help businesses gain insights into their payment flows, optimize cash management, and improve financial decision-making.

Mastercard offers solutions, such as Mastercard Commercial Solutions and Mastercard Track, with advanced features including spending controls, detailed transaction reporting, integration with financial systems, supply chain finance, enhanced data transparency, and efficient payment processing.

These players maintain dominance by continuously evolving technologies, expanding global footprints, and catering to diverse industry needs. Their established brand reputation, customer trust, and commitment to addressing evolving customer engagement demands solidify their position, shaping the landscape and influencing the direction of the dynamic market.

Corporate Flows B2B Payment Market Companies

Major players operating in the corporate flows B2B payment industry are

• Visa
• Mastercard
• American Express
• PayPal
• JPMorgan Chase
• Bank of America
• Citi
• Wells Fargo

Corporate Flows B2B Payment Industry News

• In May 2024, Visa and J.P. Morgan Payments announced a strategic collaboration by leveraging Visa Direct’s real-time reach to bank accounts and J.P. Morgan Payments’ expertise in money movement solutions. aimed at enhancing merchant experiences, empowering cardholders, and driving innovations in domestic payments in the U.S.
• In January 2022, Mastercard partnered with Microsoft to accelerate the innovation of digital commerce. This partnership aims to enhance Mastercard’s B2B payment solutions by leveraging Microsoft's cloud and AI technologies.

The corporate flows B2B payment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2021 to 2032, for the following segments

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Market, By Payment

• Cross-border payments
• Domestic payments

Market, By Solutions

• Payment gateways
• Payment processors
• Payment security solutions
• Enterprise Resource Planning (ERP) integrated payment solutions
• Banking solutions

Market, By Enterprise Size

• SMEs
• Large enterprises

Market, By Industry Vertical

• Manufacturing
• Retail & e-commerce
• IT & telecommunications
• Healthcare
• Banking, Financial Services, and Insurance (BFSI)
• Transportation & logistics
• Energy & utilities

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Southeast Asia
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • South Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA