B2B Payment Transaction Market Size Worth Around US$ 63,084 Bn by 2026

According to Acumen Research Consulting, the global B2B payment transaction market size is expected to reach around US$ 63,084 Bn by 2026 with CAGR of above 6%.


LOS ANGELES, April 14, 2020 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “B2B Payment Transaction Market (Transaction Type: traditional and digital; Business Segment: Small Sized Business, Medium Sized Business, and Large Sized Business; Operating channel: Cross Border and Domestic) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”.

Get Free Report Sample Pages for Better Understanding@ https://www.acumenresearchandconsulting.com/request-sample/1794

B2B payments are payments between two merchants for goods and services. Paper checks are still the most popular payment method for businesses. A digital B2B payment solution is a speed payment method, which all can enhance the cash flow of a company, including issuing, receiving and processing systems. In the typical supply chain, business to business transactions are prevalent, when businesses buy parts and goods for use in production procedures, such as other raw materials. Finished products can be marketed to people through transactions between the business and the consumer.

In 2018 North America market accounts for high revenue share due to high consumers spending capacity on food and entertainment services, coupled with availability of advanced internet infrastructure for smart payment options. In addition, presence of major service providers operating in the country such as US and Canada is expected to support the regional market growth.

Gradual increase in income along with increase in consumer spending on goods and services are major factors expected to augment the market growth. Government of developed and developing are focused on development of payment infrastructure in order to facilitate the digital economy approach along with introduction of various application which are factors positively impacting the global B2B payment market growth.  In 2016, Indian Banks Association launched the Unified Payments Interface (UPI) and the NPCI developed the Bharat Interface for Money (BHIM) app. UPI manages multiple bank accounts within one mobile application of any participating bank.

View Detail Information with Complete TOC@ https://www.acumenresearchandconsulting.com/b2b-payments-transaction-market

Moreover, factors such as high internet penetration, growing smart phones adoption is slowly increasing consumer’s preference for mobile payments through various applications which is expected to further support the market growth. In 2016 from the total UPI transactions around 16.5 Mn transactions amounting to INR 68,872.57 Cr were done through the BHIM app. The interface handled 93,000 transactions worth US$ 30 Mn for 21 banks.

However, rising threats/activities related to data theft and lack of regulatory scenario related to overseas payment are factors hamper the market growth. With easy access to high speed internet hacker can easily to track and steal the data. According to World Economic Forum, two billion data records were compromised in 2017, and more than 4.5 billion records were breached in the first half of 2018.  In addition, limited visibility of end-to-end transaction related to multiple payments, inculcation of extra costs, chargeback’s, and payment cycle disruption is resulting in lower preference for B2B payment methods. Limited transaction transparency is another factor expected to limit the growth of the market.

Browse More Related Reports@ https://www.acumenresearchandconsulting.com/industry-categories/ict

Government is spending high on cyber security, developing government regulations related to cyber crime and improved infrastructure are factors creating revenue opportunities for target market players. In addition, flourishing e-commerce sector and with the advent of new technology such as big data analytics, AI, blockchain is expected to help entrepreneurs simplify the B2B payment system further supporting the revenue growth of market.

Major players operating in the global b2b payment transaction market are American Express Co. Inc., Ant Financial Services Co. Ltd., Bottomline Technologies Inc., Coupa Software Inc., FleetCor Technologies Inc., Intuit Inc., JPMorgan Chase & Co., MasterCard Inc., and SAP. The competitive scenario in the market is high as there is high presence of players operating in the market. Major players inclination towards increasing their customer base and improve the customer experience is expected to further increase the competition.

Key Findings

The global b2b payment transaction market was valued at around US$ 63,084 Bn in 2026. Among the transaction type segment the digital segment is expected to contribute significant revenue shares in the market globally.

Request for Customization@ https://www.acumenresearchandconsulting.com/request-customization/1794

The report is readily available and can be dispatched immediately after payment confirmation.

Buy this premium research report@ https://www.acumenresearchandconsulting.com/buy-now/0/1794

If you would like to place an order or have any questions, please feel free to contact at sales@acumenresearchandconsulting.com | +1 407 915 4157 OR +1 408 900 9135

For Latest Update Follow Us:

https://twitter.com/AcumenRC

https://www.facebook.com/acumenresearchandconsulting

https://www.linkedin.com/company/acumen-research-and-consulting/