B2B Payments in Digital Epoch

The expansion of trade across the globe and change in the style of doing business after integration of technology and trends has accelerated the demand for B2B payments. With wide increase in the export and import of goods worldwide and rapid development of small and medium sized companies (SMEs) entering in to massive trade act, the B2B market has skyrocketed due to the advantages in B2B e-Commerce. B2B e-Commerce means large orders and more security during transactions it also offers fast delivery, convenience, speed, accuracy, and personalization during purchases. The introduction of Blockchain technology attracts companies towards B2B e-Commerce as it leverages to facilitate fast, secure, low-cost international payment processing services. This is necessary to ensure safety,

as there are huge number of transactions taking place in business. Adding to that, there are mammoth issues like volume of transactions, the complexity of managing multiple vendors, credit cycles and risk assessment aspects which need to be solved.

The global B2B payments market size was valued at $870.42 billion in 2020, and is projected to reach $1.91 trillion by 2028, growing at a (compound annual growth rate) CAGR of 10.6 percent from 2021 to 2028. With the wide promotion of startups and SMEs by the government, which is expected to increase further, is expected to hasten the magnification of B2B market further. Region wise, Asia-pacific dominates the B2B market owing to the wide adoption of virtual card accounts among the commercial business companies in the developing countries of the region.

In this issue, the CEO Insights magazine introduces a list of 'Top 10 B2B Payment Solution Providers - 2021' who have played major role in the transformation and growth of business. The list has been crafted by a team of Industry veterans, CEOs, VCs and the CEO Insights editorial team, thus delivering inspiring stories of their journey and the contributions & roles played by them in the creation and empowerment of a powerful industry and business.