US B2B Payments Forecast 2024

How Providers Can Capture a $16 Trillion Small Business Opportunity

B2B payments is the largest addressable payments market in the US. Slow-to-digitize small and medium-sized businesses (SMBs) remain an untapped segment, and providers must understand their evolving payment needs to capitalize on the opportunity.

Key Question: What is driving B2B payment volume trends, and how can providers capitalize on these trends to capture SMB volume?

Key Stat: Check and cash payments have fallen from a majority share of B2B transaction value in 2019 to just 32.1% in 2024. That gives providers an opening to help businesses digitize and capture their volume.

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    Table of Contents

    1. Executive Summary
    2. B2B payments providers must meet complex and sometimes conflicting priorities for SMBs
    3. Checks and cash no longer reign supreme
    4. ACH payments are the big winner of B2B payments digitization
    1. Card payments are inching up
    2. Wire and other payments will stay flat this year, but change could be on the horizon
    3. How can B2B payment providers drive revenues going forward?
    4. Insider Intelligence Interviews
    1. Sources
    2. Media Gallery

    Interviewed for This Report

    Brandon Spear
    Interviewed January 25, 2024

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    Suzy Davidkhanian
    Principal Analyst, Retail & Ecommerce
    Brian Lau
    Forecasting Analyst
    David Morris
    Principal Analyst

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