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Asia Pacific B2B Payments Market

Asia Pacific B2B Payments Market: Information by Payment Type (Domestic, Cross-Border), Platform (Traditional, Digital), Payment Method (Wire, ACH, Cheque), Enterprise Size, and Region — Forecast till 2030

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Market Overview

The Asia-Pacific B2B payment industry size was valued at USD 418 billion in 2021. It is projected to reach USD 1018 billion by 2030, growing at a CAGR of 10.4% during the forecast period (2022-2030).

Business-to-business (B2B) payment promotes safer transactions for merchants requiring recurring, periodic transactions and offers a variety of tasks to end users, including accounts receivable, accounts payable, payroll, and acquisition departments. It may involve a one-time or recurring transaction based on the buyer and seller's contractual arrangement. Business-to-business (B2B) payments are more complex than business-to-consumer (B2C) payments because B2B payment processing takes longer to approve and settle the transaction.

Asia-Pacific B2B payment market research includes China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific. An increase in the payment volume between businesses, a rise in the adoption of digital payment systems by small and medium-sized enterprises, and the availability of many payment acceptance banks for merchants fuel the growth of the market in the Asia-Pacific region. 


Market Snapshot

Base Year:
Study Period:
10.4 %
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Market Dynamics

Asia-Pacific B2B Payment Industry Drivers

Advanced Payment Technology

Several financial technology companies in China, Japan, and India have provided businesses with advanced payment technology. For example, in April 2020, Harbour and Hills, one of China's leading B2B cross-border payment providers, launched a B2B payments gateway that improves the business payment transaction process of corporate sectors, thereby driving market growth in this region. In addition, cheques, bank transfers, demand draughts, and third-party gateways are the most widely accepted traditional business payment methods throughout the Asia-Pacific. This is regarded as a significant factor driving market expansion in this region.

Asia-Pacific B2B Payment Industry Restraint

Security Concerns

In the B2B payments space, security concerns such as data breaches and identity theft are significant constraints; similarly, lingering debt and payment delays can pose a risk and pressure business cash flow. Electronic invoicing (eInvoicing) and blockchain can mitigate these risks and concerns and facilitate B2B payment transitions that improve the customer experience. 

Asia-Pacific B2B Payment Industry Opportunities

Adoption of Digital Payment

The global B2B payment market in Asia-Pacific is highly fragmented due to many key developments, such as partnerships, acquisitions, and product development, occurring in this region. EnKash, one of India's leading B2B payment solution providers, announced a partnership with Mastercard beginning in December 2020. This partnership enabled EnKas to provide businesses with a B2B digital payment automation platform. In the coming years, an increase in the number of such strategic moves is anticipated to generate a tremendous growth opportunity for the market.

After the COVID-19 outbreak, company owners have expanded their adoption of digital payments, creating growth equivalent to 10 years in only four months. The tendency has extended throughout B2B payment environments. The digitalization of the B2B payment arena has made it easier for firms to conduct cross-border commercial transactions, resulting in a rise in international trade and promoting economic growth. This will also aid the business's survival throughout the pandemic.

Segmental Analysis

The Asia-Pacific B2B payment industry is segmented into five categories: Payment Type, Payment Mode, Payment Method, Enterprise Size, and Industry Vertical. 

Based on the transaction type, the B2B payment market is bifurcated into domestic payments and international payments. The domestic payments sector owns the highest market and is expected to grow at a CAGR of 10.9% over the projected period. 

Based on the Payment Method, the global B2B Payment market is split into traditional and digital submarkets. The digital mode dominates the market and is expected to develop at a CAGR of 13.7% over the projected period. 

The B2B payment market is categorized based on Payment Method into ACH, Wire, Cheque, Cash, and others. ACH segment is predicted to increase at a CAGR of 11.2% during the projection period, making them an important segment.

The B2B payment market is split by industry vertical into manufacturing, IT and telecom, metals and mining, energy and utilities, BFSI, and other segments. The IT and Telecom segment dominates the market and is estimated to increase at a CAGR of 13.2% over the projection period. 

The B2B payment market is categorized based on enterprise size into major organizations, medium-sized enterprises, and small businesses. The small-sized industries dominate the sector and are anticipated to increase at a CAGR of 12.7% during the projection period. 

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Regional Analysis

Asia-Pacific is the highest shareholder in the global market and is estimated to grow at a CAGR of 11.9% during the forecast period. Several enterprises from China, Japan, and India specializing in financial technology have provided advanced payment technologies to businesses. For example, in April 2020, Harbour and Hills, a significant B2B cross-border payment provider in China, developed an 828 payments gateway that improves the corporate sector business payment transaction process, driving market growth in this area. In addition, cheques, bank transfers, demand draughts, and third-party gateways are prominent traditional commercial payment methods extensively accepted by Asia-Pacific enterprises. This is regarded as a crucial aspect of expanding the regional market.

Regional Growth Insights Download Free Sample

Top Key Players of Asia Pacific B2B Payments Market

  1. Visa 
  2. Mastercard
  3. EKO-PAY
  4. Invapay
  5. iPayLinks
  6. PayPal
  7. Western Union
  8. Transferwise
  9. Payoneer
  10. Earthport

Report Scope

Report Metric Details
CAGR 10.4%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Payment Type
    1. Domestic Payments
    2. Cross-Border Payments
  2. By Platform
    1. Traditional
    2. Digital
  3. By Payment Method
    1. Wire
    2. ACH
    3. Cheque
    4. Cash
    5. Credit card
    6. Demand Draft
  4. By Enterprise Size
    1. Large Enterprises
    2. Medium-sized Enterprises
    3. Small-sized Enterprises
  5. By Industry Vertical
    1. Manufacturing
    2. IT & Telecom
    3. Metals & Mining
    4. Energy & Utilities
    5. BFSI

Recent Developments

  • The domestic payments dominate the payment type segment.
  • The digital mode dominates the payment mode segment.
  • The IT and Telecom sector dominates the industry vertical segment.
  • The small-sized industries dominate the enterprise size segment.
  • Asia-Pacific dominates the global market by region.

Asia Pacific B2B Payments Market Segmentation

By Payment Type

  • Domestic Payments
  • Cross-Border Payments

By Platform

  • Traditional
  • Digital

By Payment Method

  • Wire
  • ACH
  • Cheque
  • Cash
  • Credit card
  • Demand Draft

By Enterprise Size

  • Large Enterprises
  • Medium-sized Enterprises
  • Small-sized Enterprises

By Industry Vertical

  • Manufacturing
  • IT & Telecom
  • Metals & Mining
  • Energy & Utilities
  • BFSI

By Country

  • China
  • Korea
  • Japan
  • India
  • Australia
  • Taiwan
  • South East Asia
  • Rest of Asia-Pacific


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