B2B Digital Payment Market

It goes without saying that digitization has completely transformed the world around us. With the advent of online payment services and B2B digital payment platforms, it’s now possible for companies to seamlessly engage in commerce with other firms. Also, B2B digital payment platforms promote better control over cash flow, facilitate simultaneous payment of multiple invoices, and can reduce costs associated with traditional payment methods.

In this blog post, we list the top ten firms that facilitate B2B payments and are driving the B2B digital payment market growth. Stick with us!

#1. Adyen N.V.

Founded: 2006

Headquarters: Amsterdam, Netherlands

Adyen N.V. is a Dutch payment technology firm. The company offers a platform that acts as a payment gateway and payment service provider. It allows merchants and businesses to accept electronic payments using several payment options, including credit/debit cards, wire transfers, and online banking.

#2. Billtrust

Founded: 2001

Headquarters: Lawrenceville, New Jersey

Billtrust is an industry-leading B2B fintech company with over two decades of experience in fintech technology. As one of the leading B2B digital payment market key players, Billtrust’s customer base spans over 40 industries. The firm offers automated order-to-cash solutions that satisfy diverse buyer requirements. Other services provided by the company are secure multi-channel payment enablement, intelligent matching, and payment posting.

#3. Coupa Software Inc.

Founded: 2006

Headquarters: San Mateo, California

Coupa Software is an American cloud technology platform for Business Spend Management (BSM). Along with San Mateo, the firm has offices throughout Latin America, Europe and Asia Pacific. It aims at helping companies worldwide gain visibility into how they spend their money. Also, it empowers firms to manage liquidity and optimize supply chains.

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#4. FLEETCOR Technologies, Inc.

Founded: 2008

Headquarters: Des Moines, Iowa

FLEETCOR Technologies, Inc. is a worldwide business payment and spend management firm. The company offers solutions that enable the control of expense-related purchasing processes. FlEETCOR has a range of brands that secure, digitize, and automate billions of payments yearly. FLEETCOR’s client base spans 100 countries in Europe, Latin America, Asia Pacific, and North America.

#5. Intuit Inc.

Founded: 1983

Headquarters: Mountain View, California

Intuit is a US-based software firm that specializes in financial software. The company offers a wide range of products, including a tax preparation application, personal finance app, credit marketing service, and email marketing platform. Intuit’s professional tax products include ProConnect Tax Online, ProSeries Basic and ProSeries Professional. The company also caters to the B2B digital payment market with its solutions.

#6. Mastercard Inc.

Founded: 1966

Headquarters: New York, United States

Mastercard is a leading technology firm in the payments sector. As the second-largest payment-processing firm worldwide, the company provides a range of payment transaction processing and related services. Mastercard serves a wide range of consumers, including consumers, small & medium businesses, governments, large enterprises, and bank & credit unions.

#7. Payoneer Inc.

Founded: 2005

Headquarters: New York, United States

Payoneer is a US-based financial services company. The firm primarily specializes in online money transfer and digital payment services. Also, customers can send and receive money using Payoneer’s e-wallet. Payoneer caters to the B2B digital payment market by supporting cross-border B2B payments. Various top technology companies use the firm’s services to send mass payouts worldwide. Also, Payoneer is supported by various e-commerce and freelance marketplaces like Fiverr and Envato.

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#8. PayPal Holdings, Inc.

Founded: 1988

Headquarters: California, United States

PayPal is a US-based financial technology and digital payments company. The firm’s online payment system acts as an electronic alternative to traditional payment options like money orders and cheques. Using PayPal’s services, users can seamlessly transfer funds online. The platform is highly popular on online auction sites like eBay. Currently, PayPal operates in more than 200 markets and has over 400 million active users worldwide.

#9. Stripe Inc.

Founded: 2009

Headquarters: San Francisco, California

Stripe is a financial services and SaaS company that was founded by entrepreneur brothers John Collison and Patrick Collison. The firm specializes in offering payment-processing software and APIs for e-commerce sites and mobile apps. Along with providing services in the B2B digital payment market, Stripe offers tools for sales tax collection, blocking fraudulent activities, and invoicing.

#10. Wise

Founded: 2011

Headquarters: London, United Kingdom

Wise is a financial technology company that aims at building the best way to move money worldwide. Specializing in cross-border payments, Wise currently offers three main products: Wise Platform, Wise Business, and Wise Account. With Wise Platform, banks and businesses can seamlessly manage their payments across borders.

End Note and Conclusion

The B2B digital payment market was valued at USD 4.64 billion in 2022 and is expected to grow to USD 17.85 billion by 2032, exhibiting a CAGR of 14.5% during the forecast period. The growing need for speed and efficiency in today’s fast-paced environment is one of the primary factors driving the market demand.

By Nitin Tambe

Nitin is a passionate content writer with three years of experience in content writing. He specializes in creating engaging blogs, articles and website content that resonates with the audience. Nitin is always eager to challenge himself and brings a unique perspective and creative approach to every project. During his free time, you can find him immersed in technology, science-fiction and mystery books.