B2Bデジタル決済市場 : 2028年までの世界予測

Report Overview

MarketsandMarkets forecasts that the B2B digital payment market size is projected to grow from USD 4.2 billion in 2023 to USD 8.2 billion by 2028, at a CAGR of 14.3% during the forecast period. The COVID-19 pandemic accelerated the adoption of digital payment methods as remote work and social distancing became the norm. Many businesses shifted their focus to digital operations, including payments, to ensure continuity during challenging times.

“By Vertical, Healthcare segment is expected to grow with the highest CAGR during the forecast period.”
The healthcare industry is implementing and adopting new technologies to provide improved services to patients. Organizations in this industry require efficient digital payment technologies to streamline their operations and enhance customer experience. Digital payment solutions are being increasingly adopted by healthcare providers, as they help simplify the billing process and provide multiple modes of payment. The rise in healthcare insurance compels organizations in this vertical to digitize their existing payment process. Increase in healthcare spending and rapid deployment of new technologies are key factors contributing to the demand for B2B digital payment solutions in the healthcare industry.

“By Offering, the payment infrastructure segment is expected to hold the largest market size during the forecast period.”
Payment infrastructure in the B2B (business-to-business) payment solutions market refers to the underlying framework and technology that enables the secure, efficient, and seamless transfer of funds between businesses. B2B payment solutions aim to simplify and automate the payment process for businesses, streamlining financial transactions and reducing manual intervention. The payment infrastructure plays a crucial role in facilitating these transactions. The payment infrastructure segment of the B2B digital payment market has been classified into payment gateway, payment processors, mobile payment applications, and other solutions such as point-of-sale (POS), and cryptocurrencies platform. Payment gateway and payment processors are the most widely demanded solutions among merchants.

“Asia Pacific is expected to grow with the highest CAGR during the forecast period.”
The B2B digital payment market in the Asia Pacific region has undergone significant transformation in recent years. Asia Pacific consumers prefer equal measures of seamless security in all aspects of their digital payment transactions. The growing retail market in the region has enabled global payment processing solution providers to focus more on this region for providing advanced solutions. The region has some growing economies, such as China, India, Indonesia, and Malaysia, where a large number of transactions are done via mobile on a daily basis. This has also forced the respective governments to focus on ease of payment methods for consumers. B2B digital payment solutions have been embraced by businesses, including electronic invoicing and funds transfer, as part of the ongoing digital transformation. E-commerce growth has been a major driver, with online marketplaces and cross-border trade fueling demand for streamlined B2B transactions.

Breakdown of primaries

The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

§ By Company: Tier 1–20%, Tier 2–25%, and Tier 3–55%
§ By Designation: C-Level Executives–40%, Director Level–33%, and Others–27%
§ By Region: North America–32%, Europe–38%, APAC–18%, RoW–12%

The major players in the B2B digital payment market PayPal (US), Fiserv (US), FIS (US), Global Payments (US), ACI Worldwide (US), Block (US), MasterCard (US), Visa (US), Payoneer (US), Stripe (US), Helcim (Canada), Payset (UK), Paytm (India), Razorpay (India), Rapyd (UK), Stax (US), EBANX (Brazil), Ramp (US), HighRadius (US), MatchMove (US), BharatPe (India), Juspay (India), Ripple (US), Terra (South Korea), Lolli (US), Paystand (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their footprint in the B2B digital payment market.

Research Coverage
The report segments the global B2B digital payment market by offering into two categories: solutions and services. By transaction type, the B2B digital payment market is divided into two categories: domestic and cross border. By payment method, the B2B digital payment market is divided into three major categories: credit card/debit card/virtual card, digital wallets, and other payment methods. By vertical, the B2B digital payment market has been classified into BFSI, IT and ITES, retail and e-commerce, healthcare, transportation and logistics, travel and hospitality, media and entertainment, and other verticals (education, media, and entertainment). By region, the market has been segmented into North America, Europe, APAC, MEA, and Latin America.

Key benefits of the report
The report would help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall B2B digital payment market and the subsegments. This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report would help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
 Analysis of key drivers (Increasing digital transformation across industries, High proliferation of smartphones enabling mCommerce growth, Rise of eCommerce and adoption of embedded payment system, Rise in the adoption of contactless payments, Increase in the adoption of real-time payments), restraints (Lack of global standards for cross-border payments, complexity of processes), opportunities (Rapid decline in unbanked population across the globe, Gradual adoption of Open-Banking APIs, Progressive changes in regulatory frameworks, Rise in cross-border payments, Collaboration between banks and fintech institutions to leverage customer experience), and challenges (Fragmented regional regulatory landscape, Fraud, and security concerns) influencing the growth of the B2B digital payment market.

• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the B2B digital payment market.

• Market Development: Comprehensive information about lucrative markets – the report analyses the B2B digital payment market across varied regions.

• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the B2B digital payment market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players PayPal (US), Fiserv (US), FIS (US), Global Payments (US), ACI Worldwide (US), Block (US), MasterCard (US), Visa (US), Payoneer (US), Stripe (US), Helcim (Canada), Payset (UK), Paytm (India), Razorpay (India), Rapyd (UK), Stax (US), EBANX (Brazil), Ramp (US), HighRadius (US), MatchMove (US), BharatPe (India), Juspay (India), Ripple (US), Terra (South Korea), Lolli (US), Paystand (US).

Table of Contents

1 INTRODUCTION 27
1.1 STUDY OBJECTIVES 27
1.2 MARKET DEFINITION 28
1.3 STUDY SCOPE 28
1.3.1 MARKET SEGMENTATION 28
1.3.2 REGIONAL SCOPE 29
1.3.3 INCLUSIONS AND EXCLUSIONS 29
1.3.4 YEARS CONSIDERED 30
1.4 CURRENCY CONSIDERED 30
TABLE 1 USD EXCHANGE RATES, 2020–2022 30
1.5 STAKEHOLDERS 31
1.6 RECESSION IMPACT 31
2 RESEARCH METHODOLOGY 32
2.1 RESEARCH DATA 32
FIGURE 1 B2B DIGITAL PAYMENT MARKET: RESEARCH DESIGN 32
2.1.1 SECONDARY DATA 33
2.1.1.1 Secondary sources 33
2.1.2 PRIMARY DATA 33
2.1.2.1 Primary interviews with experts 34
2.1.2.2 Breakdown of primary profiles 34
2.1.2.3 Primary sources 35
2.1.2.4 Key industry insights 35
2.2 MARKET SIZE ESTIMATION 36
FIGURE 2 KEY STEPS FOLLOWED TO ESTIMATE MARKET SIZE 36
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY, APPROACH 1: SUPPLY-SIDE ANALYSIS OF REVENUE GENERATED THROUGH SALES OF DIGITAL PAYMENT PLATFORMS AND SERVICES 37
2.2.1 BOTTOM-UP APPROACH 37
FIGURE 4 BOTTOM-UP APPROACH 38
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 1, BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF B2B DIGITAL PAYMENT VENDORS 38
2.2.2 TOP-DOWN APPROACH 38
FIGURE 6 TOP-DOWN APPROACH 39
2.2.3 B2B DIGITAL PAYMENT MARKET ESTIMATION: DEMAND-SIDE ANALYSIS 39
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: DEMAND-SIDE ANALYSIS 39
2.3 DATA TRIANGULATION 40
FIGURE 8 DATA TRIANGULATION 40
2.4 RISK ASSESSMENT 41
TABLE 2 RISK ASSESSMENT 41
2.5 GROWTH RATE ASSUMPTIONS 41
2.6 RESEARCH LIMITATIONS 42
2.7 IMPLICATIONS OF RECESSION 42
3 EXECUTIVE SUMMARY 43
FIGURE 9 B2B DIGITAL PAYMENT MARKET SIZE, 2021–2028 (USD MILLION) 44
FIGURE 10 REGION-WISE MARKET SUMMARY (SIZE, SHARE, AND CAGR) 45
FIGURE 11 ASIA PACIFIC TO BE LUCRATIVE MARKET FOR B2B DIGITAL PAYMENT SOLUTIONS AND SERVICES DURING FORECAST PERIOD 46
4 PREMIUM INSIGHTS 47
4.1 OPPORTUNITIES FOR PLAYERS IN B2B DIGITAL PAYMENT MARKET 47
FIGURE 12 RISE IN CROSS-BORDER PAYMENTS TO CREATE OPPORTUNITIES FOR PLAYERS IN B2B DIGITAL PAYMENT MARKET 47
4.2 B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE 47
FIGURE 13 CROSS-BORDER SEGMENT TO WITNESS HIGHER CAGR FROM 2023 TO 2028 47
4.3 B2B DIGITAL PAYMENT MARKET, BY OFFERING 48
FIGURE 14 SOLUTIONS SEGMENT TO HOLD LARGER MARKET SHARE IN 2023 48
4.4 B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD 48
FIGURE 15 CREDIT/DEBIT/VIRTUAL CARDS SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023 48
4.5 B2B DIGITAL PAYMENT MARKET IN NORTH AMERICA, BY PAYMENT METHOD AND VERTICAL 49
FIGURE 16 CREDIT/DEBIT/VIRTUAL CARDS AND IT & ITES SEGMENTS TO ACCOUNT FOR MAJORITY OF NORTH AMERICAN MARKET SHARE, BY PAYMENT METHOD AND VERTICAL, RESPECTIVELY, IN 2023 49
4.6 B2B DIGITAL PAYMENT MARKET IN ASIA PACIFIC, BY VERTICAL AND COUNTRY 49
FIGURE 17 IT & ITES AND CHINA TO CAPTURE LARGEST SHARE OF ASIA PACIFIC MARKET, BY VERTICAL AND COUNTRY, RESPECTIVELY, IN 2023 49
5 MARKET OVERVIEW AND INDUSTRY TRENDS 50
5.1 MARKET OVERVIEW 50
5.2 MARKET DYNAMICS 50
FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: B2B DIGITAL PAYMENT MARKET 50
5.2.1 DRIVERS 51
5.2.1.1 Aggressive promotion and adoption of digital ecosystem by governments worldwide 51
5.2.1.2 High proliferation of smartphones enabling m-commerce growth 51
5.2.1.3 Exponential expansion of e-commerce and high adoption of embedded payment systems 52
5.2.1.4 Increased consumer preference for contactless payments 53
5.2.1.5 Extensive use of real-time payment systems 53
5.2.2 RESTRAINTS 54
5.2.2.1 Lack of global standards for cross-border payments 54
5.2.2.2 Complexities associated with B2B payment transactions 54
5.2.3 OPPORTUNITIES 55
5.2.3.1 Rapid decline in unbanked population globally 55
5.2.3.2 Gradual adoption of open-banking APIs 55
5.2.3.3 Progressive changes in regulatory frameworks pertaining to B2B digital payments 55
5.2.3.4 Rise in cross-border payments 56
5.2.3.5 Collaboration between banks and FinTech institutions to enhance customer experience 56
5.2.4 CHALLENGES 56
5.2.4.1 Fragmented regional regulatory landscape 56
5.2.4.2 Risk of fraud and security concerns 56
5.3 INDUSTRY TRENDS 57
5.3.1 BEST PRACTICES IN B2B DIGITAL PAYMENT MARKET 57
5.3.2 REGULATORY LANDSCAPE 58
5.3.3 SUPPLY CHAIN ANALYSIS 58
FIGURE 19 B2B DIGITAL PAYMENT SUPPLY CHAIN ANALYSIS 59
5.3.4 BRIEF HISTORY OF B2B DIGITAL PAYMENT TECHNOLOGY 60
FIGURE 20 EVOLUTION OF B2B DIGITAL PAYMENT 60
5.3.4.1 2000–2010 60
5.3.4.2 2010–2020 60
5.3.4.3 2020–Present 61
5.3.5 ECOSYSTEM MAPPING 61
FIGURE 21 B2B DIGITAL PAYMENT ECOSYSTEM ANALYSIS 62
TABLE 3 ROLE OF COMPANIES IN B2B DIGITAL PAYMENT ECOSYSTEM 62
5.3.6 PATENT ANALYSIS 64
5.3.6.1 Methodology 64
5.3.6.2 Document type 64
TABLE 4 PATENTS FILED, 2020–2023 64
5.3.6.3 Innovations and patent applications 64
FIGURE 22 TOTAL NUMBER OF PATENTS GRANTED, 2020–2023 64
5.3.6.4 Top applicants 65
FIGURE 23 TOP 10 PATENT APPLICANTS, 2020–2023 65
5.3.7 CASE STUDY ANALYSIS 65
5.3.7.1 Case study 1: Implementation of PayPal products by Tradera to streamline operations and scale business 65
5.3.7.2 Case study 2: Adoption of FIS Exemption Engine solution by Zalando to ensure fast and frictionless checkout process 66
5.3.7.3 Case study 3: Deployment of Braintree payment gateway by Animoto to increase renewal rates and build customer base 66
5.3.7.4 Case study 4: Execution of Stripe platform by Mindbody to provide hybrid fitness experience to customers 67
5.3.7.5 Case study 5: Integration of Square platform with Brushfire’s dashboard to offer omnichannel tool to manage ticketing and event payments 67
5.3.8 PRICING ANALYSIS 68
5.3.8.1 Average selling price of B2B digital payment solutions provided by key players 68
TABLE 5 PRICING ANALYSIS 68
5.3.8.2 Average selling price trend 68
5.3.9 IMPACT OF B2B DIGITAL PAYMENTS ON ADJACENT TECHNOLOGIES 69
5.3.10 TECHNOLOGY ANALYSIS 69
5.3.10.1 Adjacent technologies 70
5.3.10.1.1 Blockchain and distributed ledger technology (DLT) 70
5.3.10.1.2 Artificial intelligence (AI), machine learning (ML), and data analytics 70
5.3.10.1.3 Robotic process automation (RPA) 70
5.3.10.1.4 API integration 70
5.3.10.1.5 Electronic invoicing (E-invoicing) 70
5.3.10.1.6 Digital identity verification and biometric authentication 70
5.3.10.1.7 Cybersecurity solutions 70
5.3.10.1.8 Contactless payments and smart contracts 71
5.3.10.2 Related technologies 71
5.3.10.2.1 Electronic funds transfer (EFT) 71
5.3.10.2.2 Wire transfer and virtual credit cards 71
5.3.10.2.3 Digital wallets, payment gateways, and P2P payment systems 71
5.3.10.2.4 Tokenization and cross-border payment solutions 71
TABLE 6 TECHNOLOGY ENABLERS IN B2B DIGITAL PAYMENTS 71
5.3.11 PORTER’S FIVE FORCES ANALYSIS 72
TABLE 7 B2B DIGITAL PAYMENT MARKET: PORTER’S FIVE FORCES MODEL 72
5.3.11.1 Threat of new entrants 72
5.3.11.2 Threat of substitutes 72
5.3.11.3 Bargaining power of buyers 73
5.3.11.4 Bargaining power of suppliers 73
5.3.11.5 Intensity of competitive rivalry 73
5.3.12 DISRUPTIONS/TRENDS IMPACTING CUSTOMER’S BUSINESS 73
FIGURE 24 REVENUE SHIFT FOR B2B DIGITAL PAYMENT MARKET 73
5.3.12.1 Buy Now Pay Later (BNPL) 74
5.3.12.2 Real-time cross-border payments 74
5.3.13 KEY CONFERENCES AND EVENTS, 2023–2024 74
TABLE 8 B2B DIGITAL PAYMENT MARKET: LIST OF CONFERENCES AND EVENTS 74
5.3.14 KEY STAKEHOLDERS AND BUYING CRITERIA 75
5.3.14.1 Key stakeholders in buying process 75
FIGURE 25 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 VERTICALS 75
TABLE 9 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 VERTICALS (%) 75
5.3.14.2 Buying criteria 75
FIGURE 26 KEY BUYING CRITERIA FOR TOP 3 VERTICALS 75
TABLE 10 KEY BUYING CRITERIA FOR TOP 3 VERTICALS 76
5.3.15 FUTURE OF B2B DIGITAL PAYMENT TECHNOLOGY 76
6 B2B DIGITAL PAYMENT MARKET, BY OFFERING 77
6.1 INTRODUCTION 78
FIGURE 27 SERVICES SEGMENT TO EXHIBIT HIGHEST CAGR IN B2B DIGITAL PAYMENT MARKET DURING FORECAST PERIOD 78
6.1.1 OFFERINGS: B2B DIGITAL PAYMENT MARKET DRIVERS 78
TABLE 11 OFFERING: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 79
TABLE 12 OFFERING: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 79
6.2 SOLUTIONS 79
TABLE 13 SOLUTIONS: B2B DIGITAL PAYMENT MARKET, BY TYPE, 2018–2022 (USD MILLION) 79
TABLE 14 SOLUTIONS: B2B DIGITAL PAYMENT MARKET, BY TYPE, 2023–2028 (USD MILLION) 80
TABLE 15 SOLUTIONS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 80
TABLE 16 SOLUTIONS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 80
6.2.1 PAYMENT INFRASTRUCTURE 81
6.2.1.1 Growing demand for payment gateways and processors by merchants to drive segmental growth 81
TABLE 17 PAYMENT INFRASTRUCTURE: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 81
TABLE 18 PAYMENT INFRASTRUCTURE: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 81
6.2.1.2 Payment gateways 82
6.2.1.3 Payment processors 82
6.2.1.4 Mobile payment applications 82
6.2.1.5 Other solutions 82
6.2.2 BILLING & ACCOUNTING MANAGEMENT 83
6.2.2.1 Increasing use of billing & accounting management solutions to track invoice and payment status to drive market 83
TABLE 19 BILLING & ACCOUNTING MANAGEMENT: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 83
TABLE 20 BILLING & ACCOUNTING MANAGEMENT: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 83
6.2.2.2 Recurring billing & subscription management 84
6.2.2.3 Account payables & account receivables 84
6.2.2.4 Others 84
6.2.3 SECURITY, COMPLIANCE, & FRAUD PREVENTION 84
6.2.3.1 Rising focus on securing end-to-end payment transactions to drive segmental growth 84
TABLE 21 SECURITY, COMPLIANCE, & FRAUD PREVENTION: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 85
TABLE 22 SECURITY, COMPLIANCE, & FRAUD PREVENTION: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 85
6.3 SERVICES 86
6.3.1 SURGING ADOPTION OF DIGITAL PAYMENT SOLUTIONS TO DRIVE DEMAND FOR SERVICES 86
TABLE 23 SERVICES: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 86
TABLE 24 SERVICES: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 86
6.3.2 PROFESSIONAL SERVICES 86
6.3.3 MANAGED SERVICES 87
7 B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE 88
7.1 INTRODUCTION 89
FIGURE 28 CROSS-BORDER TRANSACTIONS TO EXHIBIT HIGHER CAGR IN B2B DIGITAL PAYMENT MARKET DURING FORECAST PERIOD 89
7.1.1 TRANSACTION TYPES: B2B DIGITAL PAYMENT MARKET DRIVERS 90
TABLE 25 B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 90
TABLE 26 B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 90
7.2 DOMESTIC 90
7.2.1 SIMPLICITY, HIGH SPEED, AND LOW COST OF DOMESTIC TRANSACTIONS TO DRIVE SEGMENTAL GROWTH 90
TABLE 27 DOMESTIC: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 91
TABLE 28 DOMESTIC: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 91
7.3 CROSS-BORDER 91
7.3.1 COMPLEX REGULATORY FRAMEWORK AND RISKS ASSOCIATED WITH CURRENCY EXCHANGE RATES TO PRESENT DISTINCT CHALLENGES 91
TABLE 29 CROSS-BORDER: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 92
TABLE 30 CROSS-BORDER: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 92
8 B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD 93
8.1 INTRODUCTION 94
FIGURE 29 DIGITAL WALLETS TO RECORD HIGHEST CAGR IN B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, DURING FORECAST PERIOD 94
8.1.1 PAYMENT METHODS: B2B DIGITAL PAYMENT MARKET DRIVERS 94
TABLE 31 B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 95
TABLE 32 B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 95
8.2 CREDIT/DEBIT/VIRTUAL CARDS 95
8.2.1 INCREASING NUMBER OF CARD USERS TO BOOST MARKET GROWTH 95
TABLE 33 CREDIT/DEBIT/VIRTUAL CARDS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 96
TABLE 34 CREDIT/DEBIT/VIRTUAL CARDS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 96
8.3 DIGITAL WALLETS 96
8.3.1 ROBUST SECURITY MEASURES, SUCH AS ENCRYPTION AND MULTI-FACTOR AUTHENTICATION, OFFERED BY DIGITAL WALLETS TO DRIVE SEGMENTAL GROWTH 96
TABLE 35 DIGITAL WALLETS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 97
TABLE 36 DIGITAL WALLETS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 97
8.4 OTHER PAYMENT METHODS 98
TABLE 37 OTHER PAYMENT METHODS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 98
TABLE 38 OTHER PAYMENT METHODS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 98
9 B2B DIGITAL PAYMENT MARKET, BY VERTICAL 99
9.1 INTRODUCTION 100
FIGURE 30 HEALTHCARE VERTICAL TO RECORD HIGHEST CAGR IN B2B DIGITAL PAYMENT MARKET DURING FORECAST PERIOD 100
9.1.1 VERTICALS: B2B DIGITAL PAYMENT MARKET DRIVERS 100
TABLE 39 B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 101
TABLE 40 B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 101
9.2 BANKING, FINANCIAL SERVICES & INSURANCE (BFSI) 102
9.2.1 GROWING FOCUS OF BFSI COMPANIES ON REDUCING CUSTOMER ATTRITION BY OFFERING DIGITAL FINANCIAL SERVICES TO DRIVE MARKET 102
TABLE 41 BFSI: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 102
TABLE 42 BFSI: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 102
9.2.2 CASE STUDY 103
9.2.2.1 Fundraise Up and Stripe partnered to provide seamless payment experience to donors 103
9.2.2.2 FIS helped River City Bank to strengthen business continuity, regulatory compliance, and resilience 103
9.3 TRANSPORTATION & LOGISTICS 103
9.3.1 RISING ADOPTION OF DIGITAL PAYMENT SOLUTIONS TO BUILD TRUST AND ACCOUNTABILITY AMONG PARTNERS TO FUEL MARKET GROWTH 103
TABLE 43 TRANSPORTATION & LOGISTICS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 104
TABLE 44 TRANSPORTATION & LOGISTICS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 104
9.3.2 CASE STUDY 104
9.3.2.1 Maersk adopted intuitive platform from Stripe to accept payments through credit cards 104
9.3.2.2 Brightwell provided Mastercard cross-border services to tourists on ships to remit money internationally 104
9.4 IT & ITES 105
9.4.1 INTEGRATION OF BLOCKCHAIN AND AI TECHNOLOGIES INTO B2B PAYMENT PLATFORMS TO SUPPORT SEAMLESS AND SECURE PAYMENT TRANSACTIONS 105
TABLE 45 IT & ITES: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 105
TABLE 46 IT & ITES: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 105
9.4.2 CASE STUDY 106
9.4.2.1 Atlassian selected Stripe to create single payment and billing platform for global transactions 106
9.4.2.2 Linear partnered with Stripe to grow its business globally 106
9.5 HEALTHCARE 106
9.5.1 PRESSING NEED TO SIMPLIFY BILLING AND INSURANCE CLAIM PROCESSES TO BOOST ADOPTION OF DIGITAL PAYMENT METHODS 106
TABLE 47 HEALTHCARE: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 107
TABLE 48 HEALTHCARE: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 107
9.5.2 CASE STUDY 107
9.5.2.1 Doctolib utilized Stripe Connect to scale telemedicine services during pandemic 107
9.5.2.2 ACI helped leading healthcare service provider to launch new electronic payment system 108
9.6 RETAIL & E-COMMERCE 108
9.6.1 INCREASING EFFORTS OF RETAILERS TOWARD ELIMINATING PAPER CHECKS TO BOOST ADOPTION OF DIGITAL PAYMENTS 108
TABLE 49 RETAIL & E-COMMERCE: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 108
TABLE 50 RETAIL & E-COMMERCE: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 109
9.6.2 CASE STUDY 109
9.6.2.1 Tradera implemented PayPal products to streamline operations and scale business 109
9.6.2.2 Amazon partnered with Stripe to simply cross-border payments 109
9.6.2.3 Decathlon partnered with Stripe to support payments for new coaches and sports classes 110
9.7 TRAVEL & HOSPITALITY 110
9.7.1 GROWING EMPHASIS ON PROTECTING SENSITIVE CUSTOMER AND FINANCIAL DATA TO FUEL SEGMENTAL GROWTH 110
TABLE 51 TRAVEL & HOSPITALITY: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 110
TABLE 52 TRAVEL & HOSPITALITY: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 111
9.7.2 CASE STUDY 111
9.7.2.1 Mount Errigal Hotel switched to Worldpay to make seamless payment improvements 111
9.7.2.2 Aegean Airlines partnered with ACI Worldwide to resolve issue of e-commerce payment fraud 111
9.8 MEDIA & ENTERTAINMENT 111
9.8.1 INCREASING POPULARITY OF STREAMING SERVICES AND OTT PLATFORMS TO BOOST DEMAND FOR DIGITAL PAYMENT SOLUTIONS 111
TABLE 53 MEDIA & ENTERTAINMENT: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 112
TABLE 54 MEDIA & ENTERTAINMENT: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 112
9.8.2 CASE STUDY 112
9.8.2.1 Mindbody partnered with Stripe to build customer trust and simplify onboarding experience for customers 112
9.8.2.2 Agua Bendita expanded internationally with B2B digital payment solutions from Stripe and VTEX 112
9.9 OTHER VERTICALS 113
TABLE 55 OTHER VERTICALS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 113
TABLE 56 OTHER VERTICALS: B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 113
10 B2B DIGITAL PAYMENT MARKET, BY REGION 114
10.1 INTRODUCTION 115
FIGURE 31 B2B DIGITAL PAYMENT MARKET: REGIONAL SNAPSHOT, 2023 115
FIGURE 32 B2B DIGITAL PAYMENT MARKET, BY REGION, 2023 VS. 2028 (USD MILLION) 115
TABLE 57 B2B DIGITAL PAYMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 116
TABLE 58 B2B DIGITAL PAYMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 116
10.2 NORTH AMERICA 116
10.2.1 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET DRIVERS 117
10.2.2 NORTH AMERICA: RECESSION IMPACT 117
FIGURE 33 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET SNAPSHOT 118
TABLE 59 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 118
TABLE 60 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 119
TABLE 61 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 119
TABLE 62 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 119
TABLE 63 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 119
TABLE 64 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 120
TABLE 65 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 120
TABLE 66 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 120
TABLE 67 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 121
TABLE 68 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 121
TABLE 69 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 121
TABLE 70 NORTH AMERICA: B2B DIGITAL PAYMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 122
10.2.3 US 122
10.2.3.1 Presence of eminent companies offering digital payment solutions to drive market 122
TABLE 71 US: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 122
TABLE 72 US: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 123
TABLE 73 US: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 123
TABLE 74 US: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 123
TABLE 75 US: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 123
TABLE 76 US: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 124
TABLE 77 US: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 124
TABLE 78 US: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 124
TABLE 79 US: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 124
TABLE 80 US: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 125
10.2.4 CANADA 125
10.2.4.1 Technological advancements in digital payment solutions to support market growth 125
TABLE 81 CANADA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 125
TABLE 82 CANADA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 125
TABLE 83 CANADA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 126
TABLE 84 CANADA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 126
TABLE 85 CANADA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 126
TABLE 86 CANADA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 126
TABLE 87 CANADA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 127
TABLE 88 CANADA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 127
TABLE 89 CANADA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 127
TABLE 90 CANADA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 128
10.3 EUROPE 128
10.3.1 EUROPE: B2B DIGITAL PAYMENT MARKET DRIVERS 128
10.3.2 EUROPE: RECESSION IMPACT 129
TABLE 91 EUROPE: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 129
TABLE 92 EUROPE: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 129
TABLE 93 EUROPE: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 129
TABLE 94 EUROPE: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 130
TABLE 95 EUROPE: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 130
TABLE 96 EUROPE: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 130
TABLE 97 EUROPE: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 130
TABLE 98 EUROPE: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 131
TABLE 99 EUROPE: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 131
TABLE 100 EUROPE: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 131
TABLE 101 EUROPE: B2B DIGITAL PAYMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 132
TABLE 102 EUROPE: B2B DIGITAL PAYMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 132
10.3.3 UK 132
10.3.3.1 Rising demand for contactless payment solutions and card acceptance devices to drive market 132
TABLE 103 UK: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 133
TABLE 104 UK: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 133
TABLE 105 UK: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 133
TABLE 106 UK: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 133
TABLE 107 UK: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 134
TABLE 108 UK: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 134
TABLE 109 UK: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 134
TABLE 110 UK: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 134
TABLE 111 UK: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 135
TABLE 112 UK: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 135
10.3.4 GERMANY 135
10.3.4.1 High adoption of mobile-friendly payment solutions to contribute to market growth 135
TABLE 113 GERMANY: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 136
TABLE 114 GERMANY: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 136
TABLE 115 GERMANY: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 136
TABLE 116 GERMANY: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 136
TABLE 117 GERMANY: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 137
TABLE 118 GERMANY: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 137
TABLE 119 GERMANY: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 137
TABLE 120 GERMANY: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 137
TABLE 121 GERMANY: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 138
TABLE 122 GERMANY: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 138
10.3.5 FRANCE 139
10.3.5.1 Significant investments by government to improve digital infrastructure to boost demand for digital payment solutions 139
10.3.6 SPAIN 139
10.3.6.1 Increasing use of digital and mobile wallets to reshape landscape of digital payments 139
10.3.7 ITALY 139
10.3.7.1 Thriving e-commerce sector to create opportunities for payment gateway providers 139
10.3.8 REST OF EUROPE 140
10.4 ASIA PACIFIC 140
10.4.1 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET DRIVERS 140
10.4.2 ASIA PACIFIC: RECESSION IMPACT 140
FIGURE 34 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET SNAPSHOT 141
TABLE 123 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 142
TABLE 124 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 142
TABLE 125 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 142
TABLE 126 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 142
TABLE 127 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 143
TABLE 128 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 143
TABLE 129 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 143
TABLE 130 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 143
TABLE 131 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 144
TABLE 132 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 144
TABLE 133 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 144
TABLE 134 ASIA PACIFIC: B2B DIGITAL PAYMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 145
10.4.3 CHINA 145
10.4.3.1 Increasing installation of PoS terminals to support market growth 145
TABLE 135 CHINA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 145
TABLE 136 CHINA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 145
TABLE 137 CHINA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 146
TABLE 138 CHINA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 146
TABLE 139 CHINA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 146
TABLE 140 CHINA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 146
TABLE 141 CHINA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 147
TABLE 142 CHINA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 147
TABLE 143 CHINA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 147
TABLE 144 CHINA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 148
10.4.4 INDIA 148
10.4.4.1 Revolution in digital payments and banking services through BHIM and YONO apps to accelerate market 148
TABLE 145 INDIA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 149
TABLE 146 INDIA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 149
TABLE 147 INDIA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 149
TABLE 148 INDIA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 149
TABLE 149 INDIA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 150
TABLE 150 INDIA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 150
TABLE 151 INDIA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 150
TABLE 152 INDIA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 150
TABLE 153 INDIA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 151
TABLE 154 INDIA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 151
10.4.5 JAPAN 151
10.4.5.1 Rising number of card-based payment transactions to drive market 151
10.4.6 AUSTRALIA & NEW ZEALAND 152
10.4.6.1 Increasing popularity of contactless payment technologies to fuel market growth 152
10.4.7 REST OF ASIA PACIFIC 152
10.5 MIDDLE EAST & AFRICA 152
10.5.1 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET DRIVERS 153
10.5.2 MIDDLE EAST & AFRICA: RECESSION IMPACT 153
TABLE 155 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 153
TABLE 156 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 154
TABLE 157 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 154
TABLE 158 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 154
TABLE 159 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 154
TABLE 160 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 155
TABLE 161 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 155
TABLE 162 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 155
TABLE 163 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 156
TABLE 164 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 156
TABLE 165 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 157
TABLE 166 MIDDLE EAST & AFRICA: B2B DIGITAL PAYMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 157
10.5.3 UAE 157
10.5.3.1 Innovations in financial technology to drive market 157
TABLE 167 UAE: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 157
TABLE 168 UAE: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 158
TABLE 169 UAE: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 158
TABLE 170 UAE: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 158
TABLE 171 UAE: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 158
TABLE 172 UAE: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 159
TABLE 173 UAE: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 159
TABLE 174 UAE: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 159
TABLE 175 UAE: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 159
TABLE 176 UAE: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 160
10.5.4 KINGDOM OF SAUDI ARABIA 160
10.5.4.1 Saudi Vision 2030 program by government to create opportunities for digital banking service providers 160
10.5.5 SOUTH AFRICA 160
10.5.5.1 Government’s focus on modernizing payment methods to support market growth 160
10.5.6 REST OF MIDDLE EAST & AFRICA 161
10.6 LATIN AMERICA 161
10.6.1 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET DRIVERS 161
10.6.2 LATIN AMERICA: RECESSION IMPACT 161
TABLE 177 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 162
TABLE 178 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 162
TABLE 179 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 162
TABLE 180 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 163
TABLE 181 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 163
TABLE 182 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 163
TABLE 183 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 163
TABLE 184 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 164
TABLE 185 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 164
TABLE 186 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 164
TABLE 187 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 165
TABLE 188 LATIN AMERICA: B2B DIGITAL PAYMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 165
10.6.3 BRAZIL 165
10.6.3.1 Increasing penetration of mobiles and other payment devices in Brazil to drive market 165
TABLE 189 BRAZIL: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION) 165
TABLE 190 BRAZIL: B2B DIGITAL PAYMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION) 166
TABLE 191 BRAZIL: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 166
TABLE 192 BRAZIL: B2B DIGITAL PAYMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 166
TABLE 193 BRAZIL: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 166
TABLE 194 BRAZIL: B2B DIGITAL PAYMENT MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 167
TABLE 195 BRAZIL: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2018–2022 (USD MILLION) 167
TABLE 196 BRAZIL: B2B DIGITAL PAYMENT MARKET, BY TRANSACTION TYPE, 2023–2028 (USD MILLION) 167
TABLE 197 BRAZIL: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 168
TABLE 198 BRAZIL: B2B DIGITAL PAYMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 168
10.6.4 MEXICO 168
10.6.4.1 Growing digital innovations and technological advancements to drive market 168
10.6.5 REST OF LATIN AMERICA 169

11 COMPETITIVE LANDSCAPE 170
11.1 OVERVIEW 170
11.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023 170
TABLE 199 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN B2B DIGITAL PAYMENT MARKET, 2019–2023 170
11.3 MARKET SHARE ANALYSIS OF KEY PLAYERS 172
TABLE 200 MARKET SHARE ANALYSIS OF TOP PLAYERS 172
11.4 REVENUE ANALYSIS, 2020–2022 172
FIGURE 35 THREE-YEAR REVENUE ANALYSIS OF KEY PLAYERS, 2020–2022 (USD MILLION) 173
11.5 RANKING OF KEY PLAYERS IN B2B DIGITAL PAYMENT MARKET, 2023 173
FIGURE 36 MARKET RANKING OF KEY PLAYERS IN B2B DIGITAL PAYMENT MARKET, 2023 173
11.6 COMPANY EVALUATION MATRIX, 2023 173
FIGURE 37 COMPANY EVALUATION MATRIX: CRITERIA WEIGHTAGE 174
11.6.1 STARS 174
11.6.2 EMERGING LEADERS 174
11.6.3 PERVASIVE PLAYERS 174
11.6.4 PARTICIPANTS 174
FIGURE 38 B2B DIGITAL PAYMENT MARKET: COMPANY EVALUATION MATRIX, 2023 175
11.7 STARTUP/SME EVALUATION MATRIX, 2023 176
FIGURE 39 STARTUP/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE 176
11.7.1 PROGRESSIVE COMPANIES 176
11.7.2 RESPONSIVE COMPANIES 176
11.7.3 DYNAMIC COMPANIES 176
11.7.4 STARTING BLOCKS 176
FIGURE 40 B2B DIGITAL PAYMENT MARKET: STARTUP/SME EVALUATION MATRIX, 2023 177
11.8 COMPANY FOOTPRINT 178
TABLE 201 B2B DIGITAL PAYMENT MARKET: OVERALL COMPANY FOOTPRINT 178
11.9 COMPETITIVE BENCHMARKING 179
TABLE 202 B2B DIGITAL PAYMENT MARKET: LIST OF STARTUPS/SMES 179
TABLE 203 B2B DIGITAL PAYMENT MARKET: COMPANY FOOTPRINT FOR STARTUPS/SMES 180
TABLE 204 B2B DIGITAL PAYMENT MARKET: COMPANY FOOTPRINT FOR KEY PLAYERS 181
11.10 COMPETITIVE SCENARIOS AND TRENDS 181
11.10.1 PRODUCT LAUNCHES/ENHANCEMENTS 182
TABLE 205 B2B DIGITAL PAYMENT MARKET: PRODUCT LAUNCHES/ENHANCEMENTS, 2020–2023 182
11.10.2 DEALS 185
TABLE 206 B2B DIGITAL PAYMENT MARKET: DEALS, 2020–2023 185
11.11 B2B DIGITAL PAYMENT PRODUCT BENCHMARKING 193
11.11.1 PROMINENT B2B DIGITAL PAYMENT SOLUTIONS 193
TABLE 207 COMPARISON OF BRANDS IN B2B DIGITAL PAYMENT ECOSYSTEM 193
11.11.1.1 Razorpay 193
11.11.1.2 Stripe 193
11.11.1.3 Mastercard 194
11.11.1.4 Visa 194
11.11.1.5 PayPal 194
11.12 VALUATION AND FINANCIAL METRICS FOR KEY B2B DIGITAL PAYMENT SOLUTION AND SERVICE VENDORS 194
FIGURE 41 VALUATION AND FINANCIAL METRICS FOR MAJOR VENDORS OF B2B DIGITAL PAYMENT SOLUTIONS AND SERVICES 194
12 COMPANY PROFILES 195
12.1 KEY PLAYERS 195
(Business Overview, Products/Solutions/Services offered, Recent Developments, MnM View)*
12.1.1 PAYPAL 195
TABLE 208 PAYPAL: COMPANY OVERVIEW 195
FIGURE 42 PAYPAL: COMPANY SNAPSHOT 196
TABLE 209 PAYPAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 210 PAYPAL: PRODUCT LAUNCHES/ENHANCEMENTS 197
TABLE 211 PAYPAL: DEALS 198
12.1.2 FIS 200
TABLE 212 FIS: COMPANY OVERVIEW 200
FIGURE 43 FIS: COMPANY SNAPSHOT 201
TABLE 213 FIS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 201
TABLE 214 FIS: PRODUCT LAUNCHES/ENHANCEMENTS 202
TABLE 215 FIS: DEALS 203
12.1.3 FISERV, INC. 205
TABLE 216 FISERV, INC.: COMPANY OVERVIEW 205
FIGURE 44 FISERV, INC.: COMPANY SNAPSHOT 206
TABLE 217 FISERV, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 206
TABLE 218 FISERV, INC.: PRODUCT LAUNCHES/ENHANCEMENTS 208
TABLE 219 FISERV, INC.: DEALS 208
12.1.4 VISA 211
TABLE 220 VISA: COMPANY OVERVIEW 211
FIGURE 45 VISA: COMPANY SNAPSHOT 212
TABLE 221 VISA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 212
TABLE 222 VISA: PRODUCT LAUNCHES/ENHANCEMENTS 213
TABLE 223 VISA: DEALS 213
12.1.5 MASTERCARD 215
TABLE 224 MASTERCARD: COMPANY OVERVIEW 215
FIGURE 46 MASTERCARD: COMPANY SNAPSHOT 216
TABLE 225 MASTERCARD: PRODUCTS/SOLUTIONS/SERVICES OFFERED 216
TABLE 226 MASTERCARD: PRODUCT LAUNCHES/ENHANCEMENTS 218
TABLE 227 MASTERCARD: DEALS 218
 
12.1.6 GLOBAL PAYMENTS INC. 220
TABLE 228 GLOBAL PAYMENTS INC.: COMPANY OVERVIEW 220
FIGURE 47 GLOBAL PAYMENTS INC.: COMPANY SNAPSHOT 221
TABLE 229 GLOBAL PAYMENTS INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 221
TABLE 230 GLOBAL PAYMENTS INC.: PRODUCT LAUNCHES/ENHANCEMENTS 222
TABLE 231 GLOBAL PAYMENTS INC.: DEALS 222
12.1.7 ACI WORLDWIDE 223
TABLE 232 ACI WORLDWIDE: COMPANY OVERVIEW 223
FIGURE 48 ACI WORLDWIDE: COMPANY SNAPSHOT 224
TABLE 233 ACI WORLDWIDE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 224
TABLE 234 ACI WORLDWIDE: PRODUCT LAUNCHES/ENHANCEMENTS 225
TABLE 235 ACI WORLDWIDE: DEALS 225
12.1.8 BLOCK, INC. 226
TABLE 236 BLOCK, INC.: COMPANY OVERVIEW 226
FIGURE 49 BLOCK, INC.: COMPANY SNAPSHOT 227
TABLE 237 BLOCK, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 227
TABLE 238 BLOCK, INC.: PRODUCT LAUNCHES/ENHANCEMENTS 228
TABLE 239 BLOCK, INC.: DEALS 228
12.1.9 PAYONEER INC. 230
TABLE 240 PAYONEER INC.: COMPANY OVERVIEW 230
FIGURE 50 PAYONEER INC.: COMPANY SNAPSHOT 230
TABLE 241 PAYONEER INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 231
TABLE 242 PAYONEER INC.: PRODUCT LAUNCHES/ENHANCEMENTS 231
TABLE 243 PAYONEER INC.: DEALS 232
12.1.10 STRIPE, INC. 234
TABLE 244 STRIPE, INC.: COMPANY OVERVIEW 234
TABLE 245 STRIPE, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 234
TABLE 246 STRIPE, INC.: PRODUCT LAUNCHES/ENHANCEMENTS 235
TABLE 247 STRIPE, INC.: DEALS 235
12.1.11 HELCIM INC. 237
12.1.12 PAY SET LIMITED 238
12.1.13 PAYTM 238
12.1.14 RAZORPAY 239
12.1.15 RAPYD FINANCIAL NETWORK LTD. 240
12.2 OTHER PLAYERS 240
12.2.1 STAX LLC 240
12.2.2 EBANX 241
12.2.3 RAMP BUSINESS CORPORATION 242
12.2.4 HIGHRADIUS 243
12.2.5 MATCHMOVE PAY PTE LTD 244
12.2.6 BHARATPE 245
12.2.7 JUSPAY 245
12.2.8 RIPPLE 246
12.2.9 TERRA 246
12.2.10 LOLLI 247
12.2.11 PAYSTAND, INC. 247
*Details on Business Overview, Products/Solutions/Services offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
13 ADJACENT MARKET 248
13.1 INTRODUCTION 248
TABLE 248 ADJACENT MARKETS AND FORECASTS 248
13.2 LIMITATIONS 248
13.3 DIGITAL PAYMENT MARKET 249
TABLE 249 BFSI: DIGITAL PAYMENT MARKET, BY REGION, 2016–2020 (USD MILLION) 249
TABLE 250 BFSI: DIGITAL PAYMENT MARKET, BY REGION, 2021–2026 (USD MILLION) 249
TABLE 251 RETAIL & E-COMMERCE: DIGITAL PAYMENT MARKET, BY REGION, 2016–2020 (USD MILLION) 249
TABLE 252 RETAIL & E-COMMERCE: DIGITAL PAYMENT MARKET, BY REGION, 2021–2026 (USD MILLION) 250
TABLE 253 HEALTHCARE: DIGITAL PAYMENT MARKET, BY REGION, 2016–2020 (USD MILLION) 250
TABLE 254 HEALTHCARE: DIGITAL PAYMENT MARKET, BY REGION, 2021–2026 (USD MILLION) 250
TABLE 255 TRAVEL & HOSPITALITY: DIGITAL PAYMENT MARKET, BY REGION, 2016–2020 (USD MILLION) 251
TABLE 256 TRAVEL & HOSPITALITY: DIGITAL PAYMENT MARKET, BY REGION, 2021–2026 (USD MILLION) 251
TABLE 257 TRANSPORTATION & LOGISTICS: DIGITAL PAYMENT MARKET, BY REGION, 2016–2020 (USD MILLION) 251
TABLE 258 TRANSPORTATION & LOGISTICS: DIGITAL PAYMENT MARKET, BY REGION, 2021–2026 (USD MILLION) 252
TABLE 259 MEDIA & ENTERTAINMENT: DIGITAL PAYMENT MARKET, BY REGION, 2016–2020 (USD MILLION) 252
TABLE 260 MEDIA & ENTERTAINMENT: DIGITAL PAYMENT MARKET, BY REGION, 2021–2026 (USD MILLION) 252
TABLE 261 OTHER VERTICALS: DIGITAL PAYMENT MARKET, BY REGION, 2016–2020 (USD MILLION) 253
TABLE 262 OTHER VERTICALS: DIGITAL PAYMENT MARKET, BY REGION, 2021–2026 (USD MILLION) 253
13.4 PAYMENT PROCESSING SOLUTIONS MARKET 253
TABLE 263 PAYMENT PROCESSING SOLUTIONS MARKET, BY PAYMENT METHOD, 2018–2022 (USD MILLION) 253
TABLE 264 PAYMENT PROCESSING SOLUTIONS MARKET, BY PAYMENT METHOD, 2023–2028 (USD MILLION) 254
TABLE 265 PAYMENT PROCESSING SOLUTIONS MARKET, BY VERTICAL, 2018–2022 (USD MILLION) 254
TABLE 266 PAYMENT PROCESSING SOLUTIONS MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 255
TABLE 267 PAYMENT PROCESSING SOLUTIONS MARKET, BY REGION, 2018–2022 (USD MILLION) 255
TABLE 268 PAYMENT PROCESSING SOLUTIONS MARKET, BY REGION, 2023–2028 (USD MILLION) 255
14 APPENDIX 256
14.1 DISCUSSION GUIDE 256
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 259
14.3 AVAILABLE CUSTOMIZATIONS 261
14.4 RELATED REPORTS 261
14.5 AUTHOR DETAILS 262