The business-to-business (B2B) payments market is a very large segment of the U.S. payments industry, with transactions reaching an estimated $35.8 trillion in 2024, according to eMarketer estimates (Off-site). As the vast B2B payments market continues to expand, a pronounced shift toward electronic payments on the consumer side has begun to carry over. But digitization has not yet fully taken over: Nearly one-third (32%) of 2024 B2B transaction volume was transacted via cash and check, per eMarketer, creating considerable opportunity to find more efficiency and modernize the space.
The combination of rising B2B transaction volume, increasing digitization of business processes, and emerging payment technology opens the door to shifts in the B2B payment sector. Banks and service providers have the opportunity to provide new payment offerings, including instant payment options, to help businesses of all sizes move to a more modern, automated payments experience.
A new white paper about B2B payments modernization explores the current B2B payments landscape, how it’s changing, and the value businesses see instant payments providing. Topics covered include:
- Checks and the B2B payments market
- B2B opportunity in instant payments
- Emerging B2B use cases for instant payments
