B2B Payments Market Size

B2B Payments Market size was over USD 13.9 billion in 2023 and is estimated to reach USD 38.2 billion by the end of 2036, growing at a CAGR of 8.8% during the forecast period, i.e., 2024-2036. In 2024, the industry size of B2B payments is evaluated at USD 15.5 billion.

The growth of the global market can be attributed to rising cross-border transactions. Companies across several domains are expanding internationally to reach more consumer base, enhance their revenue streams, and lower their dependency on domestic markets. This has resulted in growing demand for secure and efficient cross-border payments. The rise in e-commerce and digital platforms and the growing usage of digital currencies have made it easy for companies and businesses to engage in international trade.

Companies are heavily investing in R&D projects to launch secure, fast, and efficient cross-border payment systems. For instance, in April 2024, WorldFirst announced the launch of a payment solution to help small businesses enhance their cross-border payments. The system facilitates intelligent payment processing, lowering trade barriers, thereby streamlining overall business transactions. Innovations like these are expected to further fuel market growth.