B2B 결제 시장(2024-2030년)

Open Banking and AI/ML Technology are Driving Transformational Growth of Global B2B Payments

As global commerce digitizes, B2B payments are undergoing rapid transformation. Businesses are increasingly adopting real-time, embedded, and cross-border payment platforms to streamline operations, reduce costs, and improve liquidity. The shift is driven by SMEs, regulatory mandates, the rise of AI, market awareness of automated finance platforms, and the adoption of next-generation technologies in the payments industry, including AI and ML, distributed ledger technology, and open banking. These innovations enable faster settlements, enhanced transparency, and scalable financial workflows across industries.

In this analysis, Frost & Sullivan examines the evolution of B2B digital payments across 5 regions: Asia-Pacific, Europe, Latin America, the Middle East and Africa, and North America. The study covers key payment segments including EFT, cards, cheques, and digital payments.

The study period is 2024-2030, 2024 is the base year, and 2025-2030 is the forecast period. The study assesses regional infrastructure, market dynamics, and vendor strategies shaping the future of B2B payments.

Other pertinent information includes the following: Industry trends and competitive landscape Growth drivers and restraints Revenue forecast by region and payment segment Market analysis in each region Key companies to watch

Report Summary: B2B Payments Market

The global B2B payments market was valued at USD 11.69 trillion in 2024 and is projected to reach USD 15.88 trillion by 2030, growing at a CAGR of 5.2% from 2024 to 2030. Market growth is driven by accelerating digital transformation across enterprise financial workflows, increasing adoption of real-time and automated payment solutions, and the rising participation of small and medium-sized enterprises (SMEs) in formal payment ecosystems. The shift away from paper-based and manual payment processes toward integrated, API-driven platforms is fundamentally reshaping how businesses manage accounts payable, receivable, and cross-border transactions.

Key Market Trends & Insights

• North America and Europe accounted for the largest share of global B2B payments value in 2024, supported by mature banking infrastructure and high enterprise adoption of digital payment platforms.
• Increasing integration of B2B payments within ERP, procurement, and accounting systems is improving operational efficiency and reducing reconciliation complexity.
• Real-time payments, virtual cards, and embedded finance solutions are gaining traction as enterprises seek faster settlement and improved cash-flow visibility.
• SMEs are emerging as a key growth engine for the B2B payments market, particularly in regions with developing financial infrastructure.
• Heightened focus on security, compliance, and fraud prevention is shaping platform innovation and vendor differentiation.

Market Size & Forecast

• 2024 Market Size: USD 11.69 Trillion
• 2030 Projected Market Size: USD 15.88 Trillion
• CAGR (2024-2030): 5.2%
• North America & Europe: Largest Markets in 2024
• Asia-Pacific & Latin America: Fastest-growing regions during the forecast period

The continued digitization of enterprise finance and expansion of scalable payment infrastructure are expected to sustain long-term growth in the B2B payments market.

Market Overview & Trends: B2B Payments Market

The B2B payments market is undergoing a fundamental transformation as enterprises migrate away from manual, paper-based processes toward fully digitized and automated financial workflows. Traditionally dominated by cheques and batch-based bank transfers, the market is now shaped by real-time payment networks, open banking APIs, and cloud-native payment orchestration platforms.

One of the most significant trends reshaping the B2B payments market is the rise of autonomous finance platforms. These solutions integrate accounts payable and receivable automation, invoice capture, reconciliation, and payment execution into unified systems, significantly reducing processing time and operational friction. AI- and ML-driven analytics are increasingly embedded within these platforms to support fraud detection, cash-flow forecasting, and working capital optimization.

Another defining trend is the expansion of embedded finance within enterprise software ecosystems. Payment capabilities are being integrated directly into ERP, procurement, and accounting platforms, allowing businesses to initiate and track payments without leaving core operational systems. This trend is particularly influential in the SME segment, where ease of use and cost efficiency are critical adoption factors.

Regulatory developments are also accelerating digital transformation. Initiatives such as ISO 20022 messaging standards, real-time payment mandates, and open banking frameworks are driving interoperability and transparency across domestic and cross-border B2B payments. At the same time, growing concerns around fraud, cybersecurity, and compliance are shaping platform design and influencing enterprise purchasing decisions.

Overall, the B2B payments market is evolving toward high-volume, low-margin transaction models supported by scale, automation, and ecosystem partnerships rather than transaction-based pricing alone.

Scope of Analysis: B2B Payments Market

This study analyzes the global B2B payments market across the period 2024-2030, with 2024 as the base year. The analysis covers financial transactions conducted between enterprises for the exchange of goods and services, including high-value domestic and cross-border payments.

The scope includes revenues generated from core B2B payments platforms, software solutions, and transaction processing services offered by banks, payment service providers, and FinTech companies. The study evaluates payment methods such as electronic fund transfers, digital payments, cards, and cheques, while excluding consumer payment transactions.

Geographically, the analysis spans North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Market sizing and forecasting are supported by a combination of primary interviews with industry stakeholders and secondary research across financial institutions, technology vendors, and payment networks.

All revenue estimates and growth projections are based on Frost & Sullivan's proprietary modeling, incorporating regulatory trends, technology adoption rates, competitive dynamics, and macroeconomic indicators relevant to the B2B payments market.

Market Segmentation Analysis: B2B Payments Market

The B2B payments market is segmented primarily by payment method and geography, reflecting differences in transaction value, processing speed, and adoption maturity.

By payment method, electronic fund transfers (EFT) represent the largest segment, supported by their reliability and widespread use for high-value corporate transactions. Digital payments, including real-time and API-driven solutions, are the fastest-growing segment as enterprises seek instant settlement, transparency, and integration with enterprise systems. Card-based payments, including virtual cards, continue to gain traction for expense management and short-term credit use cases, while cheques are steadily declining due to regulatory pressure and operational inefficiencies.

Geographically, North America and Europe dominate global B2B payments revenue due to mature financial infrastructure and enterprise adoption of digital workflows. Asia-Pacific exhibits strong growth potential driven by real-time payment systems such as UPI and PayNow. Latin America benefits from instant payment platforms like Pix, while MEA growth is supported by government-led cashless initiatives and FinTech expansion.

This segmentation highlights a clear shift toward digital, real-time, and integrated payment methods across regions.

Revenue & Spending Forecast: B2B Payments Market

The global B2B payments market is projected to grow from USD 11.69 trillion in 2024 to USD 15.88 trillion by 2030, reflecting a CAGR of 5.2%. Growth remains steady throughout the forecast period, supported by increasing transaction volumes rather than pricing expansion.

Revenue growth is driven by higher digital payment adoption among SMEs, expansion of embedded finance, and scaling of real-time payment infrastructure across regions. While competitive pressure limits margin expansion, vendors are sustaining revenue growth through volume-based monetization, subscription models, and value-added services.

Regional growth patterns show mature markets contributing stable revenue, while emerging regions deliver incremental expansion through digitization and infrastructure modernization. Overall, the B2B payments market demonstrates resilience and long-term scalability.

Growth Drivers: B2B Payments Market (Global, 2025-2030)

The B2B payments market is experiencing sustained growth as increasing FinTech innovation and capital investment accelerate the digitization of enterprise payment workflows. Large global payment providers are scaling seamless cross-border transaction capabilities, while regional players are differentiating through localized solutions and strategic partnerships. This dual-track innovation model is expanding addressable markets and driving adoption across both mature and emerging economies.

Another major growth driver is the rapid adoption of all-in-one autonomous finance platforms. These platforms streamline accounts payable and receivable processes by eliminating manual bottlenecks across invoice capture, optical character recognition, reconciliation, and payment execution. As a result, enterprises are achieving faster settlement cycles, improved cash-flow visibility, and reduced operational costs, reinforcing long-term growth in the B2B payments market.

Small and medium-sized enterprises (SMEs) are also playing a pivotal role in driving demand, particularly in regions with underdeveloped banking infrastructure such as Latin America and Southeast Asia. Mobile-first platforms and digital tools are enabling SMEs to overcome access barriers, modernize cash management, and participate more actively in formal payment ecosystems.

The growing adoption of AI-based payment orchestration further supports market expansion. These solutions unify fragmented payment channels, automate routing decisions, and optimize real-time transactions, improving working capital efficiency for global enterprises. Finally, rising awareness of the strategic value of digitized financial workflows is accelerating the shift away from legacy payment systems toward scalable, integrated B2B payment platforms that support global expansion and supplier collaboration.

Growth Restraints: B2B Payments Market (Global, 2025-2030)

Despite strong growth momentum, the B2B payments market faces several structural restraints that may temper adoption over the forecast period. As digital B2B payment volumes increase across platforms and borders, security concerns are intensifying due to the growing complexity of payment ecosystems. Increased reliance on APIs, cloud-based financial tools, and third-party integrations heightens exposure to fraud, cyberattacks, and data breaches, prompting many organizations to delay adoption until robust security frameworks are established.

High upfront investment requirements and integration complexity represent another significant challenge. Integrating modern B2B payment platforms with legacy ERP and accounting systems can be costly and resource-intensive, particularly for large and mid-sized enterprises. These challenges often delay return on investment and require specialized IT expertise, slowing large-scale modernization efforts.

Trust-related concerns surrounding AI-driven payment automation further constrain adoption. While AI improves efficiency and decision-making, organizations-especially in regulated banking and financial services environments-remain cautious due to transparency, auditability, and data privacy requirements. Limited human oversight in high-value transactions continues to raise governance concerns.

Additionally, scaling cross-border B2B payments exposes providers to regulatory fragmentation, complex local licensing requirements, foreign exchange volatility, and stringent AML/FCP compliance obligations. Collectively, these factors increase operational costs, delay market entry, and place pressure on margins, particularly for providers seeking rapid international expansion.

Competitive Environment: B2B Payments Market

The B2B payments market is highly competitive, with 61 major providers globally, spanning large multinational banks, payment service providers, and FinTech companies. Competition is primarily driven by pricing efficiency, transaction speed, security and compliance capabilities, ERP integration depth, global coverage, and the ability to deliver embedded financial services within enterprise platforms.

Key end-user industries include manufacturing, retail and wholesale trade, financial services, technology, and healthcare, all of which rely on high-volume, high-value payment flows and demand seamless integration with internal financial systems. Vendors increasingly differentiate by offering API-first architectures, real-time settlement, and value-added services such as reconciliation, analytics, and fraud prevention.

Leading participants in the market include Citi TTS, JP Morgan, HSBC Global, Visa, and Mastercard, which together accounted for 29.2% of total market revenue in 2024, highlighting a competitive but not overly concentrated landscape. Beyond these leaders, a wide range of specialized and regional players-including Bottomline, Bill, Tieto Evry, BPCT, Billtrust, Mercado Pago, and Ebanx-compete by addressing niche use cases and underserved geographies.

Distribution strategies increasingly emphasize direct enterprise sales, partnerships with banks and ERP vendors, API-based integrations, and SaaS delivery models. Ongoing consolidation through strategic acquisitions by firms such as Fiserv, Worldline, and PayPal continues to reshape the competitive environment, enabling providers to expand capabilities, geographic reach, and customer bases.

Table of Contents

Growth Environment: Transformation in Global B2B Payments

• Research Scope
• Scope of Analysis
• Key Questions This Study Will Answer
• Segmentation by Payment Method
• Segmentation by Geography
• Why is it Increasingly Difficult to Grow?
• The Strategic Imperative 8™
• The Impact of the Top 3 Strategic Imperatives on the Global B2B Payments Industry

Ecosystem in the Global B2B Payments Sector

• Competitive Environment
• Key Competitors

Growth Generator in the Global B2B Payments Sector

• Growth Metrics
• Growth Drivers
• Growth Restraints
• Forecast Considerations
• Revenue Forecast
• Revenue Forecast by Payment Method
• Revenue Forecast by Region
• Pricing Trends and Forecast Analysis
• Revenue Share

Growth Generator: APAC B2B Payments

• Growth Metrics
• Revenue Forecast
• Revenue Forecast by Payment Method
• Forecast Analysis

Growth Generator: European B2B Payments

• Growth Metrics
• Revenue Forecast
• Revenue Forecast by Payment Method
• Forecast Analysis

Growth Generator: Middle East and Africa B2B Payments

• Growth Metrics
• Revenue Forecast
• Revenue Forecast by Payment Method
• Forecast Analysis

Growth Generator: Latin American B2B Payments

• Growth Metrics
• Revenue Forecast
• Revenue Forecast by Payment Method
• Forecast Analysis

Growth Generator: North American B2B Payments

• Growth Metrics
• Revenue Forecast
• Revenue Forecast by Payment Method
• Forecast Analysis

Key Companies to Watch

• Companies to Watch: Bitso Business
• Companies to Watch: BPC
• Companies to Watch: Bottomline
• Companies to Watch: Checkbook
• Companies to Watch: Mastercard
• Companies to Watch: Tietoevy
• Companies to Watch: SUNRATE

Growth Opportunity Universe in Global B2B Payments

• Growth Opportunity 1: Agents for AP Solutions
• Growth Opportunity 2: Automated Finance Platforms
• Growth Opportunity 3: Stablecoins in B2B Payments

Predictions

• 3 Big Predictions

Appendix & Next Steps

• Benefits and Impacts of Growth Opportunities
• Next Steps
• List of Exhibits
• Legal Disclaimer