BASINGSTOKE, England, Oct 31 (Bernama-BUSINESS WIRE) — A new study from Juniper Research has found the global transaction value of the B2B payments market will exceed $111 trillion in 2027, from just over $88 trillion in 2022. It predicts that this growth of 26% will be driven by rising prices caused by rampant inflation, and by strong economic growth in developing markets. The report identified increased automation of accounts payable and receivable as being critical to the growing efficiency of payments processing; creating a significant opportunity for B2B payment vendors.
A B2B payment is any payment made between businesses for goods or services, regardless of whether domestic or international, or via different payment methods.