The report entitled “Global Digital B2B Payments Market: Size, Trends & Forecasts (2020-2024)”, provides an in-depth analysis of the global digital B2B payments market, with detailed analysis of market size and growth. The report provides an analysis of the digital B2B payments market by value and by modes.
Additionally, the report also assesses the key opportunities in the market and outlines the factors that are and would be driving the growth of the industry. Growth of the overall global digital B2B payments market has also been forecasted for the years 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The major players dominating the digital B2B payments market are Alibaba Group (Ant Financial), American Express, Bottomline Technologies Inc., and Coupa Software Inc. The four companies have been profiled in the report providing a detailed analysis of their financial information and business strategies.
- Alibaba Group (Ant Financial)
- American Express
- Bottomline Technologies Inc.
- Coupa Software Inc.
Payments are the transfer of an amount from one organization to another in exchange for goods, services or sometimes both. Payments can be done through different modes like cash payment, online money transfer, card payment, payment by checks, etc.
Business to business payments is the transactions completed between two or more business organizations in exchange for the trade. The business to business payments consists of numerous end-users like enterprise, midmarket, SMB, small business, and many others.
With the advancement of technology, new payment gateways are also evolved which facilitates business organizations to make business payments securely, rapidly and efficiently. There are different kind of digital payment method available like credit and debit cards, electronic payments via payment applications, bank transfer, eWallets, etc.
The global digital B2B payments market has observed stable growth in the past few years and the market is further expected to rise at an affirmative rate during the forecasted period (2020-2024). The growth of the global digital B2B payments market would be bolstered by the growth drivers such as growing real-time payments, increasing adoption of cloud-based solutions, escalating smartphone penetration, emerging B2B e-commerce industry, swelling business process automation, rising urbanization, increasing cross border payments, etc.
Moreover, the growth of the global digital B2B payments market is being hampered by different challenges. Some of the prominent challenges faced by the market are cyber-attacks, defects, and disruptions, high investment processes, etc. Whereas, the market growth would be further supported by various market trends like surging blockchain technology, rising artificial intelligence technology, budding Fintech organizations, escalating virtual card demand, etc.
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