Global B2B Buy Now Pay Later Market Projected to Surpass $199 Billion in 2024, Accelerated Growth Expected in Europe

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Mar 19, 2024, 19:45 ET

DUBLIN, March 19, 2024 /PRNewswire/ -- The "Global B2B Buy Now Pay Later Market Intelligence Databook Subscription - Q1 2024" report has been added to ResearchAndMarkets.com's offering.

B2B BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 27.4% during 2024-2029. The gross merchandise value in the region will increase from US$149.3 billion in 2023 to US$669.5 billion by 2029.

The global B2B BNPL market is poised for accelerated growth over the next three to four years. Europe is projected to lead the market growth across regions, with several new firms entering the market and existing ones are seen expanding their presence. The trend is projected to continue further in 2024, driving the competitive landscape in the fast-growing sector.

In the global market, firms are expected to forge new strategic alliances and raise investment from venture capital and private equity firms in 2024. Furthermore, the integration of AI and B2B BNPL services is also expected to grow over the medium term. In India, firms like actyv.ai have successfully leveraged AI to boost their growth.

Amazon Business is venturing into the B2B BNPL sector through a strategic collaboration with Affirm

Over the last 12 months, a higher inflation and interest rate environment has resulted in an increasing number of businesses seeking loans from BNPL providers in the United States. This trend is projected to continue further over the medium term, and firms are looking to tap into the growing market.

Amazon, which also offers consumer-focused BNPL services, added a BNPL option to its Amazon Business platform in November 2023. The new payment service has been launched in partnership with Affirm, a point-of-sale financing and online payment solution provider in the United States. The B2B BNPL service will enable sole proprietor business customers to select Affirm at checkout and pay back over a period of time. Amazon Business, notably, is offering customized pay-over-time options on terms between three to 48 months. Affirm has been offering BNPL services in the B2C sector since 2021.

B2B BNPL providers are expanding their regional footprint to drive business growth in 2024

With traditional credit becoming expensive in 2023, an increasing number of small and medium-sized businesses have turned to B2B BNPL providers to meet their working capital requirements. The trend is projected to continue in 2024, resulting in a high-growth period for the market. Consequently, firms are expanding their regional footprint to accelerate business growth.

Treyd, a Sweden-based B2B BNPL firm, announced that it is launching the B2B BNPL service for businesses in Ireland in December 2023. The launch in the Irish market comes three months after the firm raised US$12 million in an extended Series A funding round. Over the last 15 months, the firm has expanded operations in several European markets, including in the United Kingdom and throughout the Nordics. This has resulted in a jump of 6x in its customer base.
Opnfi, in June 2023, forged a strategic alliance with actyv.ai to bring the B2B BNPL solution for businesses in high-growth markets of Southeast Asia, the Middle East, and Africa. Opnfi's platform will enable actyv.ai to develop and launch new financing solutions catering to the varied demands of businesses across the regions.

Firms are launching innovative B2B BNPL products amid the rising demand for flexible payments

With growth slowing down in the B2C sector, firms are entering the B2B BNPL market with the launch of new and innovative products in the global market. In India, for instance, Mobikwik is planning to enter the B2B merchant lending sector. The firm is planning to offer small and mid-sized loans to its existing merchants. The entry into the lending market is part of its strategy to accelerate revenue growth, while also delivering working capital to its merchants in Tier II and III cities of India.

In the United States, too, firms are launching B2B BNPL services for their business customers. Koverly, a B2B payment tool based in Massachusetts, has entered the B2B BNPL sector by launching a new tool called KoverlyPay in August 2023. This tool allows Koverly clients to extend their payments on foreign exchange (FX) transactions by providing a free 30-day extension. The financing application process is integrated into the point-of-sale and takes place at checkout.

This report provides a detailed data-centric analysis of the B2B BNPL industry, covering market opportunities and risks across a range of retail categories. With over 50+ KPI's at the country level, this report provides a comprehensive understanding of BNPL market dynamics, market size and forecast, and market share statistics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.

Report Scope

This report provides in-depth data-centric analysis of B2B BNPL industry in through 29 tables and 34 charts. Below is a summary of key market segments:

B2B BNPL by Key Performance Indicators

Gross Merchandise Value
Avg. Value Per Transaction
Transaction Volume

B2B BNPL By End-Use Sector

Retail & Consumer Goods

Retail & Consumer Goods Gross Merchandise Value
Retail & Consumer Goods Avg. Value Per Transaction
Retail & Consumer Goods Transaction Volume

Home Improvement

Home Improvement Gross Merchandise Value
Home Improvement Avg. Value Per Transaction
Home Improvement Transaction Volume

Travel and Automotive

Travel and Automotive Gross Merchandise Value
Travel and Automotive Avg. Value Per Transaction
Travel and Automotive Transaction Volume

Services

Services Gross Merchandise Value
Services Avg. Value Per Transaction
Services Transaction Volume

Industrial Applications

Industrial Applications Gross Merchandise Value
Industrial Applications Avg. Value Per Transaction
Industrial Applications Transaction Volume

Health Care

Health Care B2B BNPL by Gross Merchandise Value
Health Care B2B BNPL by Avg. Value Per Transaction
Health Care B2B BNPL by Transaction Volume

B2B BNPL By Channel

Online
POS

B2B BNPL By Size of Company

Small
Medium
Large

For more information about this report visit https://www.researchandmarkets.com/r/4gggub

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