US B2B Payments Market Size, Trends and Insights By Payment Methods (Traditional Payment Methods, Digital Payment Methods), By Type (Domestic Payments, Cross-Border Payments), By Enterprise Size (Small and Medium Enterprises (SMEs), Large Enterprises), By End User (Manufacturing, Retail and E-commerce, Healthcare, IT and Telecom, Banking, Financial Services, and Insurance (BFSI), Energy and Utilities, Transportation and Logistics, Travel and Hospitality, Others), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Reports Description
As per the current market research conducted by the CMI Team, the US B2B Payments Market is expected to record a CAGR of 12.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 2,971.4 Billion. By 2033, the valuation is anticipated to reach USD 8,576.8 Billion.
The US B2B payments market involves the exchange of funds between businesses for goods and services. It encompasses various payment methods, including checks, electronic funds transfers (EFT), automated clearing house (ACH) transfers, credit cards, and digital wallets.
Driven by technological advancements, this market is evolving rapidly with increased adoption of digital payment solutions, blockchain technology, and AI-driven analytics. Key players include major banks, fintech firms, and payment processors, all striving to enhance efficiency, security, and compliance. The market’s growth is also fueled by the rise of B2B e-commerce and the need for seamless, integrated payment systems.
US B2B Payments Market – Significant Growth Factors
The US B2B Payments Market presents significant growth opportunities due to several factors:
- Digital Transformation: The shift towards digitalization in business operations is a key driver, as companies seek efficient, automated payment solutions to replace traditional methods like checks and manual processes.
- Technological Advancements: Innovations in fintech, such as blockchain, AI, and machine learning, are enhancing payment security, fraud detection, and process automation, driving the adoption of advanced payment systems.
- Rise of E-commerce: The expansion of B2B e-commerce necessitates robust digital payment infrastructures to handle increasing transaction volumes, fueling market growth.
- Regulatory Compliance: Stricter regulations aimed at increasing transparency and security in payment processes are prompting businesses to adopt compliant digital payment solutions, driving market evolution.
- Cross-Border Payments: As global trade continues to expand, there is a significant opportunity for developing efficient and cost-effective cross-border payment solutions that handle multiple currencies and comply with international regulations.
- SME Market Penetration: There is a substantial opportunity to cater to the needs of small and medium-sized enterprises (SMEs) by offering scalable, affordable, and integrated payment solutions that enhance their cash flow management and operational efficiency.
- Integrated Payment Solutions: There is a growing demand for end-to-end integrated payment solutions that streamline the entire payment process, from invoicing to reconciliation. By offering comprehensive platforms that integrate with existing business systems (e.g., ERP and accounting software), companies can improve operational efficiency, reduce errors, and enhance the overall user experience, presenting a significant opportunity for growth in the B2B payments market.
US B2B Payments Market – Mergers and Acquisitions
The US B2B Payments Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the US B2B Payments Market include:
- In 2024, Paystand, a blockchain-enabled B2B payments network, acquired Teampay, a management software provider, to bolster its services. This transaction aims to create a powerful B2B payments network, striving for speed, scale, and cost efficiency.
- In 2024, Visa and Mastercard reached a USD 30 billion antitrust settlement, limiting credit and debit card fees for US merchants. This landmark agreement aims to address concerns about excessive transaction costs, potentially reshaping the landscape of card payment processing.
- In 2024, Airwallex, a leading global financial and payment platform, introduced payment acceptance solutions in the US. This offering enables US merchants to accept payments from both domestic and international customers, expanding their reach and facilitating seamless transactions.
These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the US B2B Payments Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
US B2B Payments Market | Corporate Flows B2B Payment Market | India B2B Payments Market |
CAGR 12.5% (Approx) | CAGR 7.8% (Approx) | CAGR 8.1% (Approx) |
USD 8,576.8 Billion by 2033 | USD 1,594,082.9 Million by 2033 | USD 1,136.1 Billion by 2033 |
US B2B Payments Market – Significant Threats
The US B2B Payments Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:
- Cybersecurity Risks: With the increasing digitization of payment processes, cybersecurity threats such as data breaches, hacking, and fraud pose a significant risk. Any compromise in payment security could erode trust among businesses and consumers, leading to financial losses and reputational damage.
- Regulatory Compliance Challenges: The complex regulatory landscape governing B2B payments, including data privacy laws, anti-money laundering (AML) regulations, and Know Your Customer (KYC) requirements, can pose challenges for businesses. Non-compliance with these regulations can result in hefty fines and legal penalties.
- Competition from Non-traditional Players: Non-traditional players, such as fintech startups and tech giants, are disrupting the B2B payments space with innovative solutions and agile business models. Established financial institutions may face increased competition and pressure to innovate to stay relevant in the market.
- Legacy Systems and Infrastructure: Many businesses still rely on legacy payment systems and infrastructure, which may be inefficient, costly to maintain, and vulnerable to disruption. The reluctance or inability to upgrade to modern, digital payment solutions can hinder market growth and competitiveness.
- Market Fragmentation: The B2B payments market is highly fragmented, with numerous players offering a wide range of solutions and services. This fragmentation can lead to interoperability issues, lack of standardization, and challenges in achieving economies of scale.
- Geopolitical Uncertainty: Geopolitical tensions, trade disputes, and regulatory changes can introduce uncertainty and volatility into the B2B payments market. Fluctuations in currency exchange rates, trade policies, and geopolitical events may impact cross-border transactions and international trade, affecting market dynamics.
Category-Wise Insights
By Payment Methods:
- Traditional Payment Methods: Traditional payment methods in the US B2B payments market typically involve paper-based processes like checks and bank transfers. Despite advancements in digital payments, some businesses still rely on these methods due to familiarity and perceived security. However, there’s a gradual shift towards electronic alternatives driven by the need for efficiency and cost savings, with ACH transfers gaining popularity due to their speed and convenience.
- Digital Payment Methods: Digital payment methods, such as credit/debit cards, digital wallets, and electronic invoicing, are gaining traction in the US B2B payments market. Businesses are increasingly adopting these methods to streamline processes, reduce costs, and improve cash flow management. Additionally, advancements in technology, including blockchain and AI, are enhancing the security and efficiency of digital payments, driving further adoption and innovation in this segment.
By Type
- Domestic Payments: Domestic payments in the US B2B payments market involve transactions conducted within the country’s borders. Traditional methods like checks are gradually being replaced by digital payment solutions, driven by trends such as the adoption of ACH transfers and real-time payment systems. Businesses are increasingly prioritizing speed, efficiency, and security in domestic payment processing to optimize cash flow and streamline operations.
- Cross-Border Payments: Cross-border payments in the US B2B payments market involve transactions between businesses in different countries. With the growth of global trade, there’s a rising demand for efficient and cost-effective cross-border payment solutions. Trends include the adoption of blockchain technology for faster and more transparent international transactions, as well as regulatory advancements aimed at reducing friction and enhancing compliance in cross-border payments.
By Enterprise Size
- Small and Medium Enterprises (SMEs): SMEs in the US B2B payments market typically refer to businesses with fewer than 500 employees. Trends for SMEs include a growing adoption of digital payment solutions, such as mobile payments and e-invoicing, to streamline operations and improve cash flow management. Additionally, there’s an increasing demand for scalable and cost-effective payment platforms tailored to the needs of SMEs, driving innovation in this segment.
- Large Enterprises: Large enterprises in the US B2B payments market are typically characterized by their extensive resources and complex payment needs. Trends for large enterprises include the adoption of advanced payment technologies, such as blockchain and AI, to enhance security and efficiency. Additionally, there’s a focus on integrated payment solutions that offer end-to-end automation and seamless integration with existing enterprise systems to optimize processes and reduce operational costs.
By End Users
- Manufacturing: Manufacturing companies in the US B2B payments market encompass businesses involved in the production of goods. Trends include the adoption of electronic invoicing and supply chain financing to streamline payments and optimize working capital. Enhanced payment security measures and integration with ERP systems are also prominent in improving operational efficiency and supporting global supply chain management.
- Retail and E-commerce: Retail and e-commerce businesses in the US B2B payments market involve companies selling products directly to consumers or businesses online. Key trends include the integration of payment gateways with e-commerce platforms, the rise of mobile payments, and the adoption of digital wallets. Enhanced fraud detection and seamless checkout experiences are prioritized to meet evolving consumer demands.
- Healthcare: Healthcare organizations in the US B2B payments market encompass providers, insurers, and pharmaceutical companies. Trends include the adoption of electronic medical billing and payment processing solutions to streamline revenue cycle management. Emphasis is placed on HIPAA compliance, data security, and interoperability to ensure seamless integration with electronic health record systems and third-party payers.
- IT and Telecom: IT and telecom companies in the US B2B payments market provide technology products and services, including software, hardware, and telecommunications solutions. Trends include the adoption of subscription-based billing models and usage-based pricing. Payment solutions tailored for recurring billing, automated provisioning, and revenue recognition are in demand to support subscription economy growth and enhance customer experience.
- Banking, Financial Services, and Insurance (BFSI): BFSI institutions in the US B2B payments market include banks, credit unions, investment firms, and insurance companies. Trends include the adoption of real-time payments, open banking APIs, and blockchain-based solutions to improve transaction speed, transparency, and security. Emphasis is placed on regulatory compliance, risk management, and data protection to address evolving industry regulations and cybersecurity threats.
- Energy and Utilities: Energy and utilities companies in the US B2B payments market involve providers of electricity, natural gas, water, and renewable energy. Trends include the adoption of smart metering and billing systems for accurate consumption tracking and invoicing. Payment solutions that support dynamic pricing, energy trading, and sustainability reporting are in focus to meet regulatory requirements and drive operational efficiency.
- Transportation and Logistics: Transportation and logistics companies in the US B2B payments market encompass freight carriers, logistics providers, and shipping companies. Trends include the adoption of digital freight matching platforms and transportation management systems for efficient route planning and cargo tracking. Payment solutions that offer real-time visibility, automated invoicing, and freight payment auditing are essential to optimize supply chain operations and reduce costs.
- Travel and Hospitality: Travel and hospitality businesses in the US B2B payments market include airlines, hotels, travel agencies, and event management companies. Trends include the adoption of virtual card payments and mobile check-in/out solutions to enhance guest experience and streamline payment processes. Integration with loyalty programs and travel management platforms is prioritized to drive customer engagement and loyalty.
- Others: The “Others” category in the US B2B payments market encompasses a diverse range of industries, including construction, education, professional services, and government. Trends vary widely depending on the specific sector but may include the adoption of electronic procurement systems, vendor management solutions, and payment automation tools to improve operational efficiency, compliance, and cost management.
Report Scope
Feature of the Report | Details |
Market Size in 2024 | USD 2,971.4 Billion |
Projected Market Size in 2033 | USD 8,576.8 Billion |
Market Size in 2023 | USD 2,641.2 Billion |
CAGR Growth Rate | 12.5% CAGR |
Base Year | 2023 |
Forecast Period | 2024-2033 |
Key Segment | By Payment Methods, Type, Enterprise Size, End User and Region |
Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
Country Scope | US |
Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Competitive Landscape – US B2B Payments Market
The US B2B Payments Market is highly competitive, with a large number of players operating in the US. Some of the key players in the market include:
- American Express Company
- Bank of America Corporation
- Capital One Financial Corporation
- Citibank (a subsidiary of Citigroup Inc.)
- Fiserv Inc.
- Global Payments Inc.
- Intuit Inc.
- JPMorgan Chase & Co.
- Mastercard Incorporated
- PayPal Holdings Inc.
- Square Inc. (now known as Block Inc.)
- Stripe Inc.
- The PNC Financial Services Group Inc.
- S. Bancorp
- Visa Inc.
- Others
These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.
New players entering the US B2B payments market are often fintech startups and technology companies leveraging innovation to disrupt traditional payment methods. These newcomers focus on developing innovative solutions such as blockchain-based payment platforms, AI-driven payment analytics, and mobile-first payment apps to address evolving market demands.
Key players dominating the market include established financial institutions like JPMorgan Chase, Bank of America, and Wells Fargo, along with leading fintech companies such as PayPal, Square, and Stripe. They maintain dominance through extensive networks, robust infrastructure, and a wide range of integrated payment solutions catering to diverse business needs.
The US B2B Payments Market is segmented as follows:
By Payment Methods
- Traditional Payment Methods
- Digital Payment Methods
By Type
- Domestic Payments
- Cross-Border Payments
By Enterprise Size
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By End User
- Manufacturing
- Retail and E-commerce
- Healthcare
- IT and Telecom
- Banking, Financial Services, and Insurance (BFSI)
- Energy and Utilities
- Transportation and Logistics
- Travel and Hospitality
- Others
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 US B2B Payments Market, (2024 – 2033) (USD Billion)
- 2.2 US B2B Payments Market: snapshot
- Chapter 3. US B2B Payments Market – Industry Analysis
- 3.1 US B2B Payments Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Digital Transformation
- 3.2.2 Technological Advancements
- 3.2.3 Rise of E-commerce
- 3.2.4 Regulatory Compliance
- 3.2.5 Cross-Border Payments
- 3.2.6 SME Market Penetration
- 3.2.7 Integrated Payment Solutions.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Payment Methods
- 3.7.2 Market Attractiveness Analysis By Type
- 3.7.3 Market Attractiveness Analysis By Enterprise Size
- 3.7.4 Market Attractiveness Analysis By End User
- Chapter 4. US B2B Payments Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 US B2B Payments Market: company market share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. US B2B Payments Market – Payment Methods Analysis
- 5.1 US B2B Payments Market Overview: By Payment Methods
- 5.1.1 US B2B Payments Market Share, By Payment Methods, 2023 and 2033
- 5.2 Traditional Payment Methods
- 5.2.1 US B2B Payments Market by Traditional Payment Methods, 2024 – 2033 (USD Billion)
- 5.3 Digital Payment Methods
- 5.3.1 US B2B Payments Market by Digital Payment Methods, 2024 – 2033 (USD Billion)
- 5.1 US B2B Payments Market Overview: By Payment Methods
- Chapter 6. US B2B Payments Market – Type Analysis
- 6.1 US B2B Payments Market Overview: By Type
- 6.1.1 US B2B Payments Market Share, By Type, 2023 and 2033
- 6.2 Domestic Payments
- 6.2.1 US B2B Payments Market by Domestic Payments, 2024 – 2033 (USD Billion)
- 6.3 Cross-Border Payments
- 6.3.1 US B2B Payments Market by Cross-Border Payments, 2024 – 2033 (USD Billion)
- 6.1 US B2B Payments Market Overview: By Type
- Chapter 7. US B2B Payments Market – Enterprise Size Analysis
- 7.1 US B2B Payments Market Overview: By Enterprise Size
- 7.1.1 US B2B Payments Market Share, By Enterprise Size, 2023 and 2033
- 7.2 Small and Medium Enterprises (SMEs)
- 7.2.1 US B2B Payments Market by Small and Medium Enterprises (SMEs), 2024 – 2033 (USD Billion)
- 7.3 Large Enterprises
- 7.3.1 US B2B Payments Market by Large Enterprises, 2024 – 2033 (USD Billion)
- 7.1 US B2B Payments Market Overview: By Enterprise Size
- Chapter 8. US B2B Payments Market – End User Analysis
- 8.1 US B2B Payments Market Overview: By End User
- 8.1.1 US B2B Payments Market Share, By End User, 2023 and 2033
- 8.2 Manufacturing
- 8.2.1 US B2B Payments Market by Manufacturing, 2024 – 2033 (USD Billion)
- 8.3 Retail and E-commerce
- 8.3.1 US B2B Payments Market by Retail and E-commerce, 2024 – 2033 (USD Billion)
- 8.4 Healthcare
- 8.4.1 US B2B Payments Market by Healthcare, 2024 – 2033 (USD Billion)
- 8.5 IT and Telecom
- 8.5.1 US B2B Payments Market by IT and Telecom, 2024 – 2033 (USD Billion)
- 8.6 Banking, Financial Services, and Insurance (BFSI)
- 8.6.1 US B2B Payments Market by Banking, Financial Services, and Insurance (BFSI), 2024 – 2033 (USD Billion)
- 8.7 Energy and Utilities
- 8.7.1 US B2B Payments Market by Energy and Utilities, 2024 – 2033 (USD Billion)
- 8.8 Transportation and Logistics
- 8.8.1 US B2B Payments Market by Transportation and Logistics, 2024 – 2033 (USD Billion)
- 8.9 Travel and Hospitality
- 8.9.1 US B2B Payments Market by Travel and Hospitality, 2024 – 2033 (USD Billion)
- 8.10 Others
- 8.10.1 US B2B Payments Market by Others, 2024 – 2033 (USD Billion)
- 8.1 US B2B Payments Market Overview: By End User
- Chapter 9. US B2B Payments Market – Regional Analysis
- 9.1 US B2B Payments Market Regional Overview
- 9.2 US B2B Payments Market Share, by Region, 2023 & 2033 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 American Express Company
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Bank of America Corporation
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 Capital One Financial Corporation
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 Citibank (a subsidiary of Citigroup Inc.)
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 Fiserv Inc.
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 Payments Inc.
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 Intuit Inc.
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 JPMorgan Chase & Co.
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 Mastercard Incorporated
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 PayPal Holdings Inc.
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 Square Inc. (now known as Block Inc.)
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.12 Stripe Inc.
- 10.12.1 Overview
- 10.12.2 Financials
- 10.12.3 Product Portfolio
- 10.12.4 Business Strategy
- 10.12.5 Recent Developments
- 10.13 The PNC Financial Services Group Inc.
- 10.13.1 Overview
- 10.13.2 Financials
- 10.13.3 Product Portfolio
- 10.13.4 Business Strategy
- 10.13.5 Recent Developments
- 10.14 U.S. Bancorp
- 10.14.1 Overview
- 10.14.2 Financials
- 10.14.3 Product Portfolio
- 10.14.4 Business Strategy
- 10.14.5 Recent Developments
- 10.15 Visa Inc.
- 10.15.1 Overview
- 10.15.2 Financials
- 10.15.3 Product Portfolio
- 10.15.4 Business Strategy
- 10.15.5 Recent Developments
- 10.16 Others.
- 10.16.1 Overview
- 10.16.2 Financials
- 10.16.3 Product Portfolio
- 10.16.4 Business Strategy
- 10.16.5 Recent Developments
- 10.1 American Express Company
List Of Figures
Figures No 1 to 28
List Of Tables
Tables No 1 to 2
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2033
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
Perspective | Primary research | Secondary research |
Supply-side |
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Demand-side |
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Market Analysis Matrix
Qualitative analysis | Quantitative analysis |
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Prominent Player
- American Express Company
- Bank of America Corporation
- Capital One Financial Corporation
- Citibank (a subsidiary of Citigroup Inc.)
- Fiserv Inc.
- Global Payments Inc.
- Intuit Inc.
- JPMorgan Chase & Co.
- Mastercard Incorporated
- PayPal Holdings Inc.
- Square Inc. (now known as Block Inc.)
- Stripe Inc.
- The PNC Financial Services Group Inc.
- S. Bancorp
- Visa Inc.
- Others
FAQs
The key factors driving the Market are Digital Transformation, Technological Advancements, Rise of E-commerce, Regulatory Compliance, Cross-Border Payments, SME Market Penetration, Integrated Payment Solutions.
The “Domestic Payments” category dominated the market in 2023.
The key players in the market are American Express Company, Bank of America Corporation, Capital One Financial Corporation, Citibank (a subsidiary of Citigroup Inc.), Fiserv Inc., Global Payments Inc., Intuit Inc., JPMorgan Chase & Co., Mastercard Incorporated, PayPal Holdings Inc., Square Inc. (now known as Block Inc.), Stripe Inc., The PNC Financial Services Group Inc., U.S. Bancorp, Visa Inc., Others.
The market is projected to grow at a CAGR of 12.5% during the forecast period, 2024-2033.
The US B2B Payments Market size was valued at USD 2,971.4 Billion in 2024.