B2B Payments Transaction Market Will Grow At Highest Pace Owing To Growth In Digital Payment Systems
The B2B payments transaction market refers to the transfer of funds between businesses for the purchase or sale of goods or services. It involves the exchange of payments between businesses rather than individuals. B2B transactions commonly include payments for inventory, payroll, expense reimbursements, supplier payments and contractor payments. The growing adoption of digital payments across industries has significantly boosted the B2B payments transaction market. Digital payment methods offer benefits like improved cash flow management, streamlined reconciliation, reduced costs, security and accessibility. The Global B2B Payments Transaction Market is estimated to be valued at US$ 1,576.61 Bn in 2024 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024 To 2031. Key Takeaways Key players operating in the B2B payments transaction are Mastercard Inc., FIS , Stripe, Inc. , Paystand, Inc., Flywire , Squareup Pte. Ltd, Edenred Payment Solutions , Payoneer Inc. , Am