Digital payments technology adoption in Asia-Pacific remains in a nascent stage, and unlike digital payment methods used by consumers in which streamlined checkout processes accept instant payment using credit cards, the bulk of B2B payments is still tied to paper checks and manual processes.
The future of digital payments is driven by applications and innovations created through partnerships and collaborations among industry stakeholders that are driving digital transformation. Asia-Pacific’s B2B payments market is being spurred by a growing B2B eCommerce market and by the appearance of financial technology (fintech) participants that recognize increasing market opportunities. With the integration of technologies such as a hyperledger framework, open API, and encryption, enterprises are heading towards an era that is borderless, paperless, reliable, and characterized by secure digital payments via a seamless process with minimal disruption.
Security concerns such as data breaches or identity theft act as a key restraint in the B2B payments space; similarly, lingering debt and payment delay can present a risk and place pressure on business cash flow. To minimize these risks and concerns, solutions such as electronic invoicing (eInvoicing) and blockchain can drive B2B payment transitions towards a better customer experience.
The use of blockchain technology has become a payments industry best practice that caters to the demand from cross-border transactions, online payment, and digital remittances for direct transaction between parties. Blockchain will eventually lead to instant transfers and minimum cost compared to other payment networks.
Countries Covered:
Australia, China, Japan, Indonesia, Malaysia, Singapore, South Korea, Vietnam, India, and the Philippines
B2B Payment Solution Providers Profiled:
Visa, Mastercard, EKO-PAY, Invapay, iPayLinks, PayPal, Western Union, Transferwise, Payoneer, and Earthport
Research Scope
This research covers growth opportunities within the B2B payments market in Asia-Pacific, including a detailed discussion of the markets in Indonesia and Vietnam. It offers a market overview as well as regional forecasts and trends from 2019 to 2025. The digitalization of B2B payments is analyzed, along with accompanying risks and benefits for businesses.
Key Issues Addressed
- What are the trends within the B2B payments landscape in Asia-Pacific?
- How large is the B2B payments market in Asia-Pacific?
- When is the digital B2B payments market projected to grow in Asia-Pacific, and what are the expected growth rates?
- What are the potential implications of digitalization on B2B payments?
- What are future opportunities within B2B payments in Asia-Pacific?
- What is the market outlook on B2B payments in Indonesia?
- What is the market outlook on B2B payments in Vietnam?
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Earthport
- EKO-PAY
- Invapay
- iPayLinks
- Mastercard
- Payoneer
- PayPal
- Transferwise
- Visa
- Western Union
