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B2B Payment Market to Witness Huge Growth by 2029 : Visa, Payoneer, Fiserv

B2B Payment Market to Witness Huge Growth by 2029

 

Pune, Maharashtra -- (SBWIRE) -- 08/23/2023 -- The 2023E-2030 Global B2B Payment Market study with 132+ market data Tables, Pie charts & Figures is now released by HTF MI. The research assessment of the Market is designed to analyse futuristic trends, growth factors, industry opinions, and industry-validated market facts to forecast till 2029. The market Study is segmented by key a region that is accelerating the marketization. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. Some of the players studied are PayPal Holdings, Inc. (United States), Visa Inc. (United States), Mastercard Incorporated (United States), American Express Company (United States), Square, Inc. (United States), Stripe Inc. (United States), Payoneer Inc. (United States), Adyen NV (Netherlands), Worldpay Inc. (United Kingdom), Fiserv, Inc. (United States).

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The Global B2B Payment Market was valued at USD 998.59 Billion in 2023 and is expected to reach USD 2195.54 Billion by 2029, growing at a CAGR of 12.4% during 2023-2029.

Definition:
The B2B (business-to-business) payment market refers to the ecosystem and processes through which businesses conduct financial transactions and settle payments with each other for goods and services exchanged. Unlike B2C (business-to-consumer) transactions where businesses interact directly with individual consumers, B2B transactions involve interactions between two or more businesses. In the B2B payment market, companies engage in various financial activities to facilitate the exchange of goods, services, and funds. This includes processes such as invoicing, payment processing, reconciliation, and financial reporting. The market encompasses a wide range of payment methods, technologies, and platforms designed to streamline and optimize B2B payment processes.

Market Trends:

- Businesses are increasingly adopting digital payment solutions to streamline processes, enhance efficiency, and reduce manual work associated with traditional payment methods.
- The demand for instant payment processing is growing, leading to the development of real-time payment systems that enable immediate fund transfers.
- Blockchain technology and cryptocurrencies are being explored for cross-border B2B payments due to their potential for transparency, security, and reduced settlement times.

Market Drivers:

- B2B payment solutions automate processes, reducing manual effort and administrative costs associated with paper-based payments.
- As businesses expand globally, the need for efficient cross-border payment solutions has grown, driving the adoption of technologies that facilitate international transactions.
- Digital payment solutions offer enhanced security measures, reducing the risk of fraud and unauthorized access to financial information.

Market Opportunities:

- The B2B payment market is ripe for innovation, offering opportunities for startups and established players to develop new solutions and gain a competitive edge.
- Beyond payment processing, there's room for offering value-added services such as analytics, financing, and supply chain optimization.
- Simplifying cross-border transactions presents a significant opportunity as businesses expand their operations globally.

Market Challenges:

- Many businesses still rely on legacy systems that are not well-equipped to handle modern digital payment methods.
- B2B transactions can be intricate, involving multiple parties, currencies, and compliance requirements, which can complicate payment processes.
- Some businesses may be hesitant to adopt new payment technologies due to concerns about integration, security, or changes to established workflows.

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2023E-2030 Global B2B Payment Market Competitive Analysis

Know your current market situation! Not just new products but ongoing products are also essential to analyse due to ever-changing market dynamics. The study allows marketers to understand consumer trends and segment analysis where they can face a rapid market share drop. Figure out who really the competition is in the marketplace, get to know market share analysis, market position, % Market Share, and segmented revenue.

Players Included in Research Coverage: PayPal Holdings, Inc. (United States), Visa Inc. (United States), Mastercard Incorporated (United States), American Express Company (United States), Square, Inc. (United States), Stripe Inc. (United States), Payoneer Inc. (United States), Adyen NV (Netherlands), Worldpay Inc. (United Kingdom), Fiserv, Inc. (United States)

Additionally, Past 2023E-2030 Global B2B Payment Market data breakdown, Market Entropy to understand development activity and Patent Analysis*, Competitors Swot Analysis, Product Specifications, and Peer Group Analysis including financial metrics are covered.

Segmentation and Targeting

Essential demographic, geographic, psychographic, and behavioural information about business segments in the 2023E-2030 B2B Payment market is targeted to aid in determining the features the company should encompass in order to fit into the business's requirements. For the Consumer-based market - the study is also classified with Market Maker information in order to understand better who the clients are, their buying behaviour, and patterns.

2023E-2030 B2B Payment Product Types In-Depth: Domestic Payments, Cross-border Payments

2023E-2030 B2B Payment Major Applications/End users: Large Enterprise, Small and Medium Enterprise (SMEs)

2023E-2030 B2B Payment Major Geographical First Level Segmentation:
- APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)

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Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).

- To analyse the with respect to individual future prospects, growth trends and their involvement to the total market.
- To analyse reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.

FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
- Political (Political policy and stability as well as trade, fiscal, and taxation policies)
- Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
- Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
- Technological (Changes in digital or mobile technology, automation, research, and development)
- Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
- Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

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