B2B Payments Market Future Aspect Analysis and Current Trends by 2016 to 2030

The fast digitalization and automation of B2B Payments system has increased the desire among business owners for networking and communication with various suppliers, distributors, and retailers throughout the world. A number of suppliers, wholesalers, retailers, and companies are also involved in expanding worldwide trade and a rise in cross-border transactions; these reasons serve as the primary drivers of the global B2B payments market.

The business-to-business (B2B) middle market payments landscape is undergoing a tectonic transition, with an increase in the number of service providers offering specialised goods and services to solve buyer/seller pain points. In their core banking and lending services, traditional financial institutions may be especially susceptible to disruptive competition. Technology and innovative business models have largely reduced entry barriers, enabling smaller players to do tasks that were previously only available to larger institutions. Financial institutions should and can take advantage of this new growth route.

middle market opportunity for B2B

Historically, the needs of the sizable and thriving US middle market in terms of (B2B) payments have been under-served. As a result, the B2B payments procedure is causing considerable dissatisfaction for both vendors and buyers. Financial institutions could do more to address the segment's payment pain points, even though they are increasingly focusing on middle-market growth opportunities.

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Impact analysis for COVID-19 on Global B2B Payments Market:

Worldwide, the COVID-19 pandemic has had an impact on a number of businesses. To slow the pandemic's rapid spread, governments all around the world enacted stringent lockdown procedures and social segregation standards. During the early phases of the epidemic, factories all across the world were shut down.

In addition, the economic downturn that followed the pandemic may cause the commercial launch of the B2B payment service sector to be significantly delayed. Since the epidemic began in 2020, small and medium-sized businesses, which make up the backbone of technology providers, have seen a sharp decline in revenue. As a result of the supply chain disruptions that were noticed, market participants faced several difficulties.

However, as more supplies come online in the second half of 2022, things will get better. Based on the following information, the impact of COVID-19 on market demand is taken into account when assessing market size and growth patterns for all regions and countries

Key Trends of Global BFSI BPO Services Market:

Technological advancement in BPO Services

Traditional BPO services have been deployed since several decades; however, increased adoption of advanced technologies such as IoT, AI, and robotics process automation have led to the growth of the industry. Increase in technological innovations in Asia-Pacific countries, which include India, China, Australia, and Singapore is expected to create several opportunities for the BFSI BPO services market. The integration of “Swiss Post Solutions” BPO services with IoT-based devices allows organizations, banks, and financial institutions to identify and eliminate issues such as unnecessary assets and lead to operational efficiencies, cost reductions, and optimal human resource deployment.

Segmental Analysis of Global BFSI BPO Services Market:

Based on Service type

• Customer Service

• Finance and Accounting

• Human Resource

• KPO

• Procurement and Supply Chain

• Others

 The customer services segment dominated the market, with a revenue share exceeding 30%. The segment is expected to retain its dominance, registering the fastest CAGR during the forecast period. The dominance of the segment can be attributed to the increasing number of service centers across the globe that need both online as well as offline technical support.

Based on Enterprise Size

• Large Enterprises

• Small and Medium Enterprises

Based on End-user

• Banks

o Commercial Banking

o Retail Banking

o Cards

o Lending

•  Capital Markets

o Investment Banking

o Brokerage

o Asset Management

o Others

Competitive Landscape:

Accenture, Amdocs, Capgemini, CBRE Group Inc., HCL Technologies Limited, Infosys Limited (Infosys BPM), NCR Corporation, Sodexo, TTEC Holdings, Inc., and Wipro Limited.

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Frequently Asked Questions

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