Global B2B Digital Payment Market Report and Case Study Analysis: Integration of Square Platform with Brushfire's Dashboard to Offer Omnichannel Tool to Manage Ticketing and Event Payments
DUBLIN, Nov. 20, 2023 /PRNewswire/ -- The "B2B Digital Payment Market by Offering, Payment Method, Transaction Type, Vertical and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
In the ever-evolving landscape of B2B digital payments, businesses are navigating a transformative journey characterized by innovation, efficiency, and security. The rapid adoption of electronic invoicing, the pursuit of real-time payment solutions, and the exploration of blockchain and cryptocurrencies are redefining the way transactions unfold. Similarly, integrating artificial intelligence and automation into payment processes streamlines operations and enhances accuracy. However, navigating the transformative journey toward digital payments in the B2B market can be challenging due to security concerns and complex regulations.
Despite all these challenges, market players such as PayPal, Stripe, Block, Adyen, Visa, and Mastercard play a crucial role in shaping the future of B2B digital payments. As globalization and digital transformation continue to reshape business practices, the B2B digital payment market is expected to experience sustained growth. This will enable businesses to transact seamlessly, securely, and efficiently in an increasingly interconnected world.
The B2B digital payment market size is projected to grow from USD 4.2 billion in 2023 to USD 8.2 billion by 2028, at a CAGR of 14.3% during the forecast period. The COVID-19 pandemic accelerated the adoption of digital payment methods as remote work and social distancing became the norm. Many businesses shifted their focus to digital operations, including payments, to ensure continuity during challenging times.
By Vertical, Healthcare segment is expected to grow with the highest CAGR during the forecast period.
The healthcare industry is implementing and adopting new technologies to provide improved services to patients. Organizations in this industry require efficient digital payment technologies to streamline their operations and enhance customer experience. Digital payment solutions are being increasingly adopted by healthcare providers, as they help simplify the billing process and provide multiple modes of payment. The rise in healthcare insurance compels organizations in this vertical to digitize their existing payment process. Increase in healthcare spending and rapid deployment of new technologies are key factors contributing to the demand for B2B digital payment solutions in the healthcare industry.
By Offring, the payment infrastructure segment is expected to hold the largest market size during the forecast period.
Payment infrastructure in the B2B (business-to-business) payment solutions market refers to the underlying framework and technology that enables the secure, efficient, and seamless transfer of funds between businesses. B2B payment solutions aim to simplify and automate the payment process for businesses, streamlining financial transactions and reducing manual intervention. The payment infrastructure plays a crucial role in facilitating these transactions. The payment infrastructure segment of the B2B digital payment market has been classified into payment gateway, payment processors, mobile payment applications, and other solutions such as point-of-sale (POS), and cryptocurrencies platform. Payment gateway and payment processors are the most widely demanded solutions among merchants.
The report segments the global B2B digital payment market by offering into two categories: solutions and services. By transaction type, the B2B digital payment market is divided into two categories: domestic and cross border. By payment method, the B2B digital payment market is divided into three major categories: credit card/debit card/virtual card, digital wallets, and other payment methods. By vertical, the B2B digital payment market has been classified into BFSI, IT and ITES, retail and e-commerce, healthcare, transportation and logistics, travel and hospitality, media and entertainment, and other verticals (education, media, and entertainment). By region, the market has been segmented into North America, Europe, APAC, MEA, and Latin America.
Case Study Analysis
For more information about this report visit https://www.researchandmarkets.com/r/28xlbj
For E.S.T Office Hours Call +1-917-300-0470
U.S. Fax: 646-607-1907
View original content:https://www.prnewswire.com/news-releases/global-b2b-digital-payment-market-report-and-case-study-analysis-integration-of-square-platform-with-brushfires-dashboard-to-offer-omnichannel-tool-to-manage-ticketing-and-event-payments-301993285.html
SOURCE Research and Markets
Registration Counters Open
Metaverse Standards Forum: Birds of a Feather
Legal Landscape of AI, Metaverse, and Blockchain