The Business Research Company (TBRC) has released its updated “B2B Digital Payment Global Market Report 2024,” providing a comprehensive analysis of the market size, share, and growth projections extended to 2033.
According to TBRC’s forecast, the B2B digital payment market size is projected to reach $8.93 billion by 2028, growing at a compound annual growth rate (CAGR) of 15.0%. This significant growth is primarily driven by the expansion of e-commerce. The Asia-Pacific region is expected to dominate the market share during this period.
Major Market Players
Key players in the B2B digital payment market include Visa International Inc., Stripe Payments Inc., Mastercard Corporation, Fiserv Technologies Inc., and Fidelity National Information Services Corporation.
The B2B digital payment market is segmented based on type, offering, payment mode, end user, and geography:
- By Type: Digital Commerce, Digital Remittances, Mobile POS Payments
- By Offering: Solution, Services
- By Payment Mode: Digital Wallet, Debit or Credit Card, Other Payment Modes
- By End User: Banks, Financial Institutions, and Insurance (BFSI), Transportation and Logistics, Information Technology and Telecommunications, Healthcare, Retail, Travel and Hospitality, E-Commerce, Other End Users
- By Geography: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East, and Africa
Role of B2B Digital Payments
Business-to-business (B2B) digital payments involve the electronic transfer of funds or transactions between two businesses via digital platforms or networks. These transactions are crucial for modernising and optimising financial operations, enhancing efficiency, transparency, and competitiveness in the marketplace.
For more detailed information and insights, access the full report at The Business Research Company’s website.
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