Worldwide B2B Payment Industry and Trends 2021 Report - Featuring FAB, HSBC Bank and LayerX Among Others

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Jul 28, 2021, 12:00 ET

DUBLIN, July 28, 2021 /PRNewswire/ -- The "Global B2B Payment Market and Trends 2021" report has been added to ResearchAndMarkets.com's offering.

This report offers a comprehensive overview of the new developments and trends in the business-to-business payment market worldwide. Among other findings, the publication reveals that despite B2B players' resistance to rapid digital transformation, the process has begun and is likely to accelerate in the near future.

COVID-19 pandemic accelerated the need of B2B players to adopt digital payments

Even before the COVID-19 pandemic, B2B companies had realized the importance of digitalization, especially when it comes to payments. Nevertheless, the enterprises operating business-to-business, and usually those of larger sizes, are quite resistant to change. But as COVID-19 emphasized the inevitability of transforming B2B payments into digital, the process of shifting accelerated. For example, in just one year, the share of B2B companies that make over 90% of their payments electronically rose by twelve percentage points, reaching about one-fourth of the total B2B payments value in 2020, according to this report. Moreover, usage of B2B instant payments was also expected to grow in the next two years; this transition, however, was expected to happen at a rather slower pace.

B2B companies stick to traditional payment methods, but also become more open to alternatives

Currently, B2B companies prefer traditional payments such as bank wire transfers, which is still many companies' go-to choice. These are followed by bank debit and cheques. When it comes to B2B E-Commerce specifically, credit card was the first choice of B2B enterprises in 2020, together with terms (30-60-90), and mobile wallets. Nevertheless, companies also have become more open to alternative payment methods, which, according to a global survey cited in the publication, comes with some challenges, such as a struggle to identify a solution that fits the industry, security concerns, and a lack of technological solutions.

Companies Mentioned

FAB
HSBC bank
JCB
LayerX
Mastercard
Santa Cruz

Report Coverage

This report covers the B2B payment market including recent developments and industry trends. Information both about total B2B payment (all channels) and B2B E-Commerce payment specifically was included.
In addition to global developments, selected regional and country insights from four regions are provided, including Asia-Pacific, Europe, North America and Middle East.

Report Structure

The report opens with a global chapter. It contains information on global B2B payment developments. These include data on the current size and projections for the B2B payments market. Furthermore, market trends such as digital transformation and technological disruption are covered on qualitative (text) charts. In addition, the results of recent surveys of B2B buyers were cited in order to reveal business customers' expectations with regard to payments.
Regional chapters follow, ranked by B2B payments market size potential: Asia-Pacific, North America, Europe, and Middle East. Selected quantitative information for the major markets in these regions, including the USA, Canada, Mexico, China, Japan, Indonesia, Singapore, Hong Kong, Germany, the UK, Saudi Arabia and the UAE was provided to exemplify the global trends in general B2B payments and business-to-business E-Commerce payments. The type and scope of information included per country and region varied due to data availability and is intended to illustrate the overall market developments rather than cover the specific geographies.

Key Topics Covered:

1. Management Summary

2. Global

B2B Payment Trends for 2021, June 2021
B2B Digital Sales, in USD trillion, 2019 & 2020
B2B E-Commerce Sales, in USD trillion, 2018 - 2020e
Share of E-Commerce Sales, in % of Total B2B Sales, February 2021
Share of Digital Channels in B2B Sales Interactions Between Suppliers and Buyers, in % of Total, 2025f
Total Value of B2B Cross-Border Payments, in USD trillion, 2020e & 2022f
Share of Instant Payments in Value of Total B2B Transactions, in %, 2020e
Share of Instant Payments, by Volume and Value, in % of Total B2B Transactions, 2022f
Share of Instant Payments, in % of Total B2B and Consumer Digital Money Transfer and Banking Payments Value, 2025f
Share of B2B Payments, in % of Total Instant Payments Value, 2025f
Top Payment Methods Offered by B2B E-Commerce Businesses, in % of B2B Leaders, November 2020
Top Payment Methods Available, by B2C and B2B, in % of Payment Decision-Makers, 2020
B2B Electronic Payments, in % of Total Payments, 2019 & 2020
Top Payment Investment Priorities in the Next 12 Months, in % of B2B Leaders, July 2020
Companies' Fintech and Bank Strategies for B2B Payments, in % of B2B Leaders, 2019 & 2020
Top Factors to Impact B2B Companies' Decision to Use Fintech Payment Solutions, by Business Size, in % of B2B Leaders, July 2020
Top B2B Payments Obstacles, by Business Size, in % of B2B Leaders, July 2020
Likelihood of Organizations Converting Majority of their B2B Payment Made to Suppliers from Checks to Electronic/Digital Payments, in % of Corporate Practitioners, 2020
Barriers on Increasing Use of Electronic Payments for B2B Companies, in % of Corporate Practitioners, 2020
Payment Fraud Attempts after COVID-19 Compared to 2019, in % of Corporate Practitioners, 2020
Overview of Virtual Cards Usage in B2B Transactions, incl. B2B Virtual Cards, in % of Total Virtual Cards Transaction Value, 2025f

3. North America
3.1.Regional

Share of B2B Purchasing Running Through Digital, Self-Service Channels, in % of Purchasing Professionals, June 2020

3.2.United States

B2B E-Commerce Sales, and B2B E-Commerce Sales Combined with E-Procurement, in USD billion, 2019 & 2020
Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020
Share B2B SMBs that Saw an Increase in Online B2B Transactions Since COVID-19, in %, September 2020
Value of B2B Payment Transactions, by Payment Method, in USD trillion, and Breakdown of B2B Payment Methods, in % of Total Transaction Value, 2021f
Payment Methods Used For Recurring Purchases, by B2B and B2C and B2B-Only Companies, October 2020
Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q1 2020
Expected Changes in the Percentage of Overdue B2B Invoices Paid Late Over the Next 12 Months, in % of B2B Companies, Q1 2020

3.3.Canada

Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020
Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q1 2020
Expected Changes in the Percentage of Overdue B2B Invoices Paid Late Over the Next 12 Months, in % of B2B Companies, Q1 2020

3.4.Mexico

Share of B2B Payments Value Made on Credit, in %, 2019 & 2020e
Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q1 2020
Expected Changes in the Percentage of Overdue B2B Invoices Paid Late Over the Next 12 Months, in % of B2B Companies, Q1 2020

4.Europe
4.1.Regional

Expected Online Sales Growth by 2023, in % of Leading Manufacturers, 2020
Change in the Proportion of B2B Sales on Credit Compared to Pre-COVID-19, in % of B2B Companies, Q3 2020

4.2.United Kingdom

Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020
Share of Mostly or Fully Automated B2B Payment-Related Processes, by Payment Channel, in % of Senior Decision-Makers, April 2021
Top Reasons Why B2B Buyers Switched to a New Supplier as a Result of COVID-19, in % of B2B Buyers, April 2020
Top Aspects of the B2C Customer Experience Would B2B Buyers Like to See, in % of B2B Buyers, April 2020

4.3.Germany

Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020
Payment Methods Offered, by All, New and Existing Customers, in % of B2B E-Commerce Companies, January 2021
Payment Methods Offered, by Company's Size, in % of B2B E-Commerce Companies, January 2021
Methods Used to Process Payments Data from Different Channels and Service Providers, by Company's Size, in % of B2B Omnichannel Companies, January 2021

5. Asia-Pacific
5.1.Regional

Market Share of B2B E-Commerce, by Countries, in % of Total E-Commerce Market, 2020e
B2B Payments Market Revenue, in USD billion, 2018 & 2025f

5.2.China

B2B E-Commerce Transaction Value, in CNY trillion, and Year-on-Year Change, in %, 2015 - 2020
Corporate Procurement Purchases E-Commerce Market Size, in CNY trillion, 2019 & 2022f
Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020
Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q2 2021

5.3.Japan

Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, in %, August 2020
B2B E-Commerce Sales, in JPY trillion, and Penetration, in %, 2015 - 2019
Overview of JCB Activity on the B2B Payments Landscape Post-COVID-19, June 2021
Overview of Select B2B Payment Platforms, incl. Fees Charged, June 2021

5.4.Singapore

Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q2 2021

5.5.Indonesia

Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q2 2021
Share of B2B Companies that Perceived a Slow Down in Their Clients' Invoice Payments over the past 12 months, in %, Q2 2021

5.6.Hong Kong

Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q2 2021
Share of B2B Companies that Did not Perceive Change in Payment Timing over the Past 12 Months, in %, Q2 2021

6. Middle East
6.1.Regional

Overview of Mastercard's Activity Post-COVID-19, June 2021
Overview of Visa's Activity Post-COVID-19, June 2021

6.2.Saudi Arabia and UAE

Overview of the Current State and Businesses' Expectations in B2B E-Commerce, January 2021
Share of B2B Companies that Make their Purchases Primarily Online, in %, January 2021
Share of B2B Companies that Make their Purchases Primarily Online, in %, January 2021

For more information about this report visit https://www.researchandmarkets.com/r/fnuv6m

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