North America B2B Payments Market Report and Forecast 2025-2034

North America B2B Payments Market Outlook

The North America B2B payments market size is estimated to expand at a CAGR of 9.10% in the forecast period of 2025-2034. The market is expected to be aided by the heightened adoption of digital payments modes by the population, coupled with the region’s well-established payments infrastructure.

Key Trends in the Market

B2B payments refer to the exchange of currencies between businesses (a buyer and a supplier) in return of goods or services. Being an inter-commerce transaction, it does not involve a consumer but businesses including corporations, start-ups, retailers, and wholesalers. Based on the agreement between buyer and seller, these payments can be recurring or single transactions. Some of the popular modes of payment include cash, credit cards, digital payment platforms, and others.

• The rapid adoption of digital payments methods among business entities is among the key North America B2B payments market trends. With technological advancements and innovations in the payments industry, digital payments have become more secure and faster when compared to traditional methods.

• Incorporation of new strategies, collaborations between market players, and new product launches further support companies and enterprises to automate operations and integrate digital payment solutions into their systems. The usage of AI and machine learning makes the entire process much more smoother and faster whilst contributing to the business growth.

• Increase in cross-border transactions due to rise in global trade between businesses also widens the scope of B2B payments. Improved data insights and usage of new tools and platforms aid businesses in optimising their performance by keeping a track of their spendings, thereby aiding the North America B2B payments market demand.

Market Analysis

Based on payment type, the market is divided into domestic payments and cross-border payments. On the basis of payment mode, the market is classified into traditional and digital.

The North America B2B payments market segmentation, based on enterprise size, includes large enterprises and small and medium-sized enterprises. Based on end use, the market is divided into BFSI, manufacturing, IT and telecom, metals and mining, and energy and utilities, among others. The major regional markets in North America include the United States of America and Canada.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America B2B payments market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• American Express Company 

• JPMorgan Chase & Co. 

• Bank of America Corporation. 

• Citigroup Inc. 

• Capital One Financial Corp 

• Mastercard Inc. 

• PayPal Holdings Inc. 

• Visa Inc. 

• Stripe, Inc.

• VeriFone, Inc.

• Others

Market Share by Payment Mode

Despite the growing popularity of digital payments, traditional payments mode still dominate the market due to the familiarity of businesses with this system. As per the North America B2B payments market analysis, a large demographic still relies on bank transfers and usage of cheques due to the years of usage and willingness to follow the norms. Few businesses also prefer to stick to the traditional method to meet legal obligations, as the traditional method align better with the government regulations. Meanwhile, the preference for digital payments is expected to increase significantly in the forecast period due to the speedy transfers and convenience of transactions. Besides, companies are constantly working on making digital payments more secure, lowering the risk of data breaches and counterfeit fraud.

Market Share by Region

The US holds a substantial portion of the North America B2B payments market share due to the presence of advanced and well-established payments infrastructure in the country. The increasing global trade activities and the growing economy of the US also contribute to the market growth. The favourable government policies, improvements in security aspect of digital payments methods, and innovations by market players are likely to provide a boost to the country’s B2B payments ecosystem.

Competitive Landscape

American Express Company, founded in 1850, is a multinational financial corporation headquartered in New York, United States. The company provides digital payments solutions that are used by merchants in over 40 countries.

JPMorgan Chase & Co., founded in 1871, is a financial institution that specialises in investment banking and asset management. Headquartered in New York, United States, the company has a presence in over 60 markets.

Bank of America Corporation., founded in 1923 and based in North Carolina, United States, is an investment bank, providing financial solutions to small scale businesses and large corporations worldwide.

Other market players include Citigroup Inc., Capital One Financial Corp, Mastercard Inc., PayPal Holdings Inc., Visa Inc., Stripe, Inc., and VeriFone, Inc.

Key Highlights of the Report