Global B2B Payment Market and Trends 2021 code:1533

Global B2B Payment Market and Trends 2021
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Canada, China, Germany, Hong Kong, Indonesia, Japan, Mexico, Saudi Arabia, Singapore, UAE, UK, USA
Pages: 87
Publication Date: 01/07/2021
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Questions Covered in the report:
  • What are the key B2B payment trends for the year 2021 and further?
  • What were the top payment methods offered by B2B E-Commerce businesses during the pandemic?
  • What is the likelihood of organizations converting the majority of their B2B payments from paper-based to digital?
  • What were the top reasons B2B buyers switched to a new supplier amid COVID-19?

Key Findings:

B2B players globally have become more open to digital payments during COVID-19: new yStats.com report.

B2B payment industry was driven to digitalize during COVID-19

The fact that digitalization of business-to-business payments is important was understood by many players even before the pandemic. However, as the B2B industry is more resistant to changes than B2C, especially when it comes to investing in technologies that may not directly result in the output growth, the process of digitalization has been slow. However, the ongoing COVID-19 pandemic clearly increased the speed of the transformation, both based on the buyer’s willingness to decrease human interaction and the growing digitalization of the providers who increasingly started offering alternative payments methods amid the health crisis. This is likely to result in the whole chain of changes in the payment arena in the near future, according to the new yStats.com report. For example, currently, instant payments hold a rather marginal part of total B2B payments, however, by 2022, the share was forecasted to increase by three percentage points. Whilst this change may seem to be insignificant, for B2B players specifically, this is a major step, as they usually have long-established relationships with their customers and are not prone to changes. Furthermore, 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.

Digital transformation of B2B payments faces challenges

Turning back to the present moment, traditional bank wire transfers still lead the B2B payment market. They are followed by bank debit and cheques. In the B2B E-Commerce arena, however, credit cards topped the 2020 ranking, together with terms (30-60-90), and mobile wallets. Meanwhile, as the companies became more open to alternative payment methods, the transition of B2B payments from these traditions to digital comes together with some challenges, such as a struggle to identify a solution that fits the industry, security concerns, lack of technological solutions, etc. With that, the top payment investment priorities for surveyed B2B companies were cash flow forecasting, Application Programming Interfaces (APIs), accounts payable automation technology, and bank portals & payment services, as detailed in the yStats.com publication.

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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
Read More
  • FAB
  • HSBC bank
  • JCB
  • LayerX
  • MasterCard
  • Santa Cruz
  • Visa
Read More

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