亚太地区B2B支付，2025-2030年

自动化金融平台推动B2B支付领域的变革性成长

亚太地区 (APAC) B2B 数位支付市场正在经历快速转型，其驱动力包括数位化快速普及、API 标准化（例如 ISO 20022 和开放 API 框架）等技术进步，以及为实现支付互通性进行的监管协调（例如东协支付连接和印度的统一支付介面 [UPI]）。

包括嵌入式人工智慧在内的关键技术趋势正在革新金融领域，它们将智慧自动化和预测分析直接整合到金融平台中，从而提高效率并为企业提供可执行的洞察。这项技术正在推动智慧发票处理、即时诈欺侦测和预测现金流等关键应用情境。

满足分散的中小企业 (SME) 市场需求蕴藏着巨大的机会，这些企业需要整合、简化的支付流程。这些发展趋势提高了效率，缩短了处理时间，降低了成本，使 B2B 支付成为区域贸易和经济成长的关键驱动力。市场特点是传统银行和金融科技公司之间的激烈竞争，后者透过嵌入式金融和基于 SaaS 的平台等创新解决方案颠覆了产业格局。推动 B2B 数位支付需求的关键产业包括製造业、电子商务、专业服务、IT 和技术以及银行和金融服务业，这些产业都需要无缝整合的支付流程。

分析还强调了许多重大挑战，包括金融监管碎片化、许可障碍、外汇波动以及严格的反洗钱/反诈欺合规要求，尤其是在跨境交易方面。此外，在全球卡片组织监管法规不断变化的背景下，过度依赖交换费也构成风险。

本研究利用支付解决方案供应商、金融机构、金融科技公司和支付网路的原始研究数据，深入分析市场区隔、主要供应商和新兴趋势。分析重点在于B2B付款管道、软体解决方案和交易处理服务的收入。市场区隔包括电子资金转帐、银行卡或虚拟卡片付款以及数位支付。预测期涵盖2025年至2030年，重点在于B2B支付领域的巨大成长机会。

收入预测

以 2024 年为基准年，预计营收将达到 11,586.7 亿美元，在 2024 年至 2030 年的研究期间内，复合年增长率将达到 9.0%。

分析范围

• 本研究涵盖亚太地区企业对企业（B2B）支付市场。
• B2B支付解决方案是指两家企业之间为交换商品或服务而进行的支付。这些解决方案旨在促进高价值金融交易和供应链金融。
• B2B支付市场包括国内交易和跨境交易。
• B2B付款管道由金融科技（Fintech）堆迭组成，其中包括应付帐款（AP/AR）自动化工具、即时支付管道、诈欺侦测演算法、外汇（FX）对冲工具、支付编配、资金管理系统、自动对帐和报告功能。
• 收入代表供应商目前核心 B2B付款管道、软体解决方案和交易处理服务的销售。
• 本研究深入分析了关键市场细分、领先的解决方案供应商以及值得关注的新兴趋势。资讯和见解来自于支付解决方案供应商、金融机构、金融科技公司和支付网路的二手和一手调查。所有估计值均基于弗若斯特沙利文公司的分析和预测模型。

三大关键策略要务对亚太地区B2B支付产业的影响

颠覆性技术

原因

新一代技术，例如生成式人工智慧 (Gen AI)、区块链网路和 API 生态系统，正在彻底改变支付自动化和智慧化，实现资金自主流动、即时跨境交易和增强诈欺防范。

然而，这些进步也带来了新的风险，尤其是在传统基础设施无法管理大规模资料集或不同平台之间缺乏标准化的情况下，这就造成了创新与系统稳定性之间的权衡。

弗罗斯特的观点

支付基础设施现代化和技术迁移对于支付服务供应商(PSP) 提供快速可靠的支付体验仍然至关重要，而且在监管支援和客户对无缝 B2B 数位支付的需求推动下，这一趋势预计将在未来三到五年内加速发展。

鑑于持续的创新週期，支付服务提供者必须预见潜在的干扰（例如资料安全或客户标准的变化），并有效应对不断变化的业务需求。

竞争加剧

背景

数位化的加速和营运资金压力的加剧，推动了企业对能够实现更快速支付的B2B支付自动化解决方案的需求。无论是中小企业还是大型企业，都希望支付功能能够直接整合到其业务软体中，这迫使支付服务提供者（PSP）做出相应的调整。

这一趋势正在重塑竞争动态，限制差异化机会，最终推动市场整合和垂直专业化。

弗罗斯特的观点

亚太地区B2B支付领域的特征是传统银行与金融科技公司之间竞争激烈。随着金融科技公司推动市场转型，银行正增加相关平台的策略性投资，以增强自身竞争力。

在这种竞争激烈的环境中，支付服务供应商(PSP) 必须寻求与银行和金融科技公司建立策略合作伙伴关係，以不断调整整合支付和自动化解决方案，从而简化其营运。

产业融合

原因

亚太地区独特的市场动态的特点是市场过度分散，数位技术呈指数级发展，推动了超级应用、电子商务平台和通讯业者进入金融科技市场的整合。

在需求方面，製造业、电子商务和物流等终端用户主导亚太地区的贸易流量，这就要求这些产业能够无缝处理 B2B 交易。

佛罗斯特和沙利文的观点

嵌入式金融与SaaS解决方案的整合正在加速B2B自主金融工作流程的建构。总部位于新加坡的B2B支付服务商Aspire便是这一趋势的例证。该公司提供垂直整合的工作流程、嵌入式金融以及人工智慧驱动的整合金融服务。 Aspire提供的金融解决方案可直接嵌入客户现有的业务流程。这凸显了银行和纯支付服务供应商（PSP）与产业专用的平台合作以获得竞争优势的必要性。

成长驱动因素

• 亚太地区大量中小企业尚未获得银行帐户或银行服务不足，加上数位化的快速发展，为B2B数位支付市场带来了巨大的未开发潜力。中小企业需要整合、简化的数位支付处理方案，以便无缝融入其现有工作流程。满足这一群体的需求对于释放成长潜力、提升交易量至关重要。
• 亚太地区B2B支付领域已成为全球金融科技公司的策略重点，凸显了它们在该地区数位转型中的关键作用。领先的金融科技公司和金融机构正积极拓展市场，现有企业也正在加大投资以抢占市场份额。这一趋势反映了亚太地区B2B支付市场的稳定成长。
• 亚太地区经济体数位化进程的快速推进、API标准化等技术进步以及支付互通性监管的协调统一，正在推动B2B支付的成长。这项数位化变革提高了效率，缩短了处理时间，并降低了成本。
• 策略整合正在重塑亚太地区的B2B支付生态系统。併购活动凸显了新兴银行积极寻求主导全端支付生态系统的决心。全球企业正积极收购利基金融科技公司，将自动化、跨国支付和中小企业贷款等功能整合到自身平台中。这一趋势将加速市场从单一解决方案向整合金融作业系统的演进。

生长抑制

• 随着B2B支付服务商将业务拓展至跨境交易领域，它们面临许多复杂障碍，包括金融监管分散化、外汇难题、汇率波动风险、制裁以及严格的洗钱防制/金融犯罪防范（AML/FCP）标准。这些因素共同导致市场进入速度放缓、外汇风险挤压利润空间，并产生巨额法律和营运成本。
• 恶意软体和网路钓鱼攻击日益猖獗，迫使企业不断更新安全措施和合规通讯协定，推高了合规成本。这些因素不仅阻碍了创新所需的资金投入，也威胁企业的永续性。安全漏洞会削弱客户信任，而客户信任在B2B客户领域至关重要。
• 对交换费的高度依赖（许多服务提供者的收入中超过30%）可能会阻碍市场成长和稳定。此外，这项收入来源也容易受到Visa和Mastercard等主要卡片组织所製定的全球卡片网路法规变化的影响。手续费的潜在上涨可能会抑制卡片付款的使用，并阻碍客户采用虚拟卡或企业费用支付解决方案。
• 将B2B数位付款管道整合到现有金融生态系统中会面临互通性挑战。例如，与核心银行系统和过时的资金管理系统不相容等问题，通常需要耗费大量资金进行中间件开发和基础设施升级才能解决。在实施B2B支付自动化时，此因素至关重要，因为交易路径必须与现有支付系统同步。未能解决这些挑战可能会阻碍市场接受度。

竞争环境

• 竞争对手数量
  • 超过100家年收入超过100万美元的公司
• 竞争因素
  • 成本、性能、进度、支援系统、技术能力、可靠性、与产业生态系统的关係、客户关係
• 主要终端用户产业
  • 零售与电子商务、製造业、专业服务、IT与科技、银行与金融服务（BFS）
• 主要竞争对手
  • FIS、Fiserv、Bottomline、Coupa、Kyriba、Finastra、HighRadius、Payoneer、Bill.com、Billtrust、Paymate
• 前11大竞争对手收入份额（2024年）
  • 3.1%
• 其他值得关注的竞争对手
  • Infosys Finacle、摩根大通（WePay）、WEX
• 流通结构
  • ISO、ISV、直销
• 重大併购
  • Visa收购Currencycloud；Thoma Bravo收购Coupa

目录

调查范围

• 分析范围
• 分割

成长环境：B2B支付转型

• 为什么经济成长变得越来越困难？
• The Strategic Imperative 8（TM）
• 三大关键策略要务对亚太地区B2B支付产业的影响

亚太地区B2B支付生态系统

• 竞争环境
• 市场参与企业

推动B2B支付的五大主要产业

• 零售与电子商务
• 製造业
• 专业服务与个体经营
• 资讯科技与科技
• 银行和金融服务

成长动力：亚太地区B2B支付

• 成长指标
• 成长驱动因素
• 成长限制因素
• 预测考量
• 亚太地区B2B支付收入预测
• 按产品分類的收入预测
• 价格趋势和预测分析
• 收益分成

成长要素：电子转帐支付

• 成长指标
• 收入预测

成长要素：卡片付款

• 成长指标
• 收入预测

成长要素：数位支付

• 成长指标
• 收入预测

主要企业

• 公司简介

亚太地区B2B支付领域的成长机会

• 成长机会 1：用于流程自动化的嵌入式人工智慧
• 成长机会 2：综合金融平台
• 成长机会 3：动态供应链金融 (SCF)

附录

• 结论
• 关键预测

未来计划

• 成长机会带来的益处和影响
• 未来计划
• 附件清单
• 免责声明

Automated Finance Platforms are Driving Transformational Growth in B2B Payments

The Asia-Pacific (APAC) B2B digital payments market is experiencing rapid transformation, driven by surging digital adoption, advancements such as API standardization (e.g., ISO 20022 and Open API frameworks), and regulatory harmonization for payment interoperability (e.g., ASEAN payment connectivity and India's Unified Payments Interface [UPI]).

Key technology trends, including embedded AI, are revolutionizing this landscape by integrating intelligent automation and predictive analytics directly into financial platforms, enhancing efficiency and providing actionable insights for businesses. This technology supports critical use cases, such as smart invoice processing, real-time fraud detection, and predictive cash flow forecasting.

Significant opportunities exist in catering to the fragmented SME sector, which requires integrated and simplified payment workflows. These developments are enhancing efficiency, reducing processing times, and lowering costs, positioning B2B payments as a critical enabler of regional trade and economic growth. The market is characterized by intense competition between traditional banks and fintechs, with the latter disrupting the industry through innovative solutions, including embedded finance and SaaS-based platforms. The primary sectors driving B2B digital payment demand are manufacturing, eCommerce, professional services, IT and technology, and banking and financial services, which require seamless, integrated payment workflows.

The analysis also highlights critical challenges, including fragmented financial regulations, licensing hurdles, foreign exchange volatility, and stringent AML/FCP compliance requirements, particularly for cross-border transactions. Additionally, the heavy reliance on interchange fees poses risks amid evolving global card network rules.

This study leverages primary research from payment solution vendors, financial institutions, fintechs, and payment networks to provide insights into market segments, leading providers, and emerging trends. The analysis focuses on revenue from B2B payment platforms, software solutions, and transaction processing services. Market segmentation encompasses electronic fund transfers, card or virtual card payments, and digital payments. The forecast period spans 2025 to 2030, highlighting considerable growth opportunities in B2B payments.

Revenue Forecast

The revenue estimate for the base year 2024 is $1,158.67 billion, with a CAGR of 9.0% for the study period from 2024 to 2030.

Scope of Analysis

• This research covers the business-to-business (B2B) payments market in the Asia-Pacific (APAC) region.
• A B2B payment solution refers to payments made between 2 businesses for the transaction of goods and services. This solution aims to facilitate high-value financial transactions and supply chain financing.
• The B2B payments market includes both domestic and cross-border transactions.
• B2B payments platforms consist of the financial technology (fintech) stack, including accounts payable/accounts receivable (AP/AR) automation tools, real-time payment rails, fraud detection algorithms, foreign exchange (FX) hedging tools, payment orchestration, treasury management systems, automated reconciliation, and reporting capabilities.
• Revenue represents vendors' current sales of core B2B payment platforms, software solutions, and transaction processing services.
• The study provides insights into the key market segments, leading solutions providers, and notable emerging trends. It derives information and insights from secondary and primary research from payment solutions vendors, financial institutions, fintechs, and payment networks. All estimations are attributable to Frost & Sullivan's analysis and forecast modeling.

The Impact of the Top 3 Strategic Imperatives on the APAC B2B Payments Industry

Disruptive Technologies

Why

Next-generation technologies, such as generative artificial intelligence (Gen AI), blockchain networks, and API ecosystems, are revolutionizing payment automation and intelligence. They facilitate autonomous money movement, instant cross-border transactions, and improved fraud prevention.

However, these advances also introduce new risks, especially when legacy infrastructure cannot manage large datasets or lacks standardization across various platforms. This creates a trade-off between innovation and system stability.

Frost Perspective

Payment infrastructure modernization and technology migration remain imperative for payment service providers (PSPs) to deliver fast and reliable payment experiences. This is likely to gain momentum over the next 3 to 5 years, driven by regulatory support and customer demand for seamless B2B digital payments.

Given the continuous innovation cycle, PSPs must anticipate potential disruptions (e.g., data security and changes in customer standards) to effectively meet evolving operational needs.

Competitive Intensity

Why

The push for digitalization and working capital pressure is creating the need for B2B payments automation solutions that enable faster payments. Small and large businesses expect payment capabilities to be integrated directly into business software, prompting PSPs to respond.

This trend is reshaping competitive dynamics and limiting the opportunities for differentiation, consequently driving consolidation and vertical specialization in the market.

Frost Perspective

Intense competition between established banks and fintechs defines the APAC B2B payments sector. Fintechs are driving market disruption, prompting banks to invest strategically in platforms to compete effectively.

Amid this competition, PSPs need to pursue strategic partnerships with banks and fintechs to continuously adapt integrated payment and automation offerings that simplify operations.

Industry Convergence

Why

APAC's unique market dynamics are characterized by hyper-fragmented markets and digital leapfrogging, driving convergence around super apps, e-commerce platforms, and telcos seeking to enter the fintech market.

On the demand side, end users such as manufacturing, e-commerce, and logistics dominate APAC trade flows, placing pressure on these sectors to handle B2B transactions seamlessly.

Frost Perspective

The convergence of embedded finance and SaaS-based solutions is accelerating autonomous B2B financial workflows. An example of this trend is Aspire, a Singapore-based B2B payments provider, which offers vertical workflows, embedded finance, and AI-driven integrated financial services. Aspire offers financial solutions embedded directly into clients' existing business workflows. This demonstrates how banks and pure PSPs must collaborate with industry-specific platforms to gain an edge.

Growth Drivers

• APAC's unbanked and underbanked SME populations, as well as the rapid digital adoption, present an untapped market for B2B digital payments. SMEs need an integrated and simplified digital payment processing that seamlessly embeds into existing workflows. Catering to this segment is crucial for unlocking growth potential and increasing transaction volumes.
• The APAC B2B payments sector has become a strategic focus for global fintech companies, underscoring its critical role in the region's digital transformation. Prominent fintechs and financial institutions are aggressively expanding their market reach, while incumbent companies are boosting investments to capture market share. This trend reflects the steady growth of the APAC B2B payments market.
• Surging digital adoption across APAC economies, advancements such as API standardization, and regulatory harmonization for payment interoperability drive the growth of B2B payments. This digital evolution enables efficiencies, reduces processing times, and lowers costs.
• Strategic consolidation is transforming the APAC B2B payments ecosystem. M&A activity highlights the aggressive approach of neobanks to control the full-stack payment ecosystem. Global companies are actively acquiring niche fintechs to integrate capabilities, such as automation, cross-border capabilities, and SME financing into their platforms. This trend will drive market evolution from standalone solutions toward an integrated financial operating system.

Growth Restraints

• As B2B payments providers expand to serve cross-border transactions, they face complex barriers, including fragmented financial regulations, licensing challenges, foreign exchange volatility, sanctions, and stringent anti-money laundering/financial crime prevention (AML/FCP) standards. These factors collectively slow market entry, expose margins to currency risks, and incur substantial legal and operational costs.
• The need to continually update security measures and compliance protocols is intensifying and driving up compliance costs due to escalating threats from malware and phishing attacks. These factors not only divert capital away from innovation but also threaten business sustainability. Any security breach can erode customer trust, which is essential in the B2B customer segment.
• A heavy reliance on interchange fees, which account for over 30% of revenue for many providers, could hinder market growth and stability. This revenue stream is also vulnerable to changes in global card network rules, which are controlled by major networks such as Visa and Mastercard. Potential fee increases may discourage card payment usage, leading customers to hesitate in adopting virtual cards or corporate expense solutions.
• Integrating B2B digital payment platforms into a legacy financial ecosystem poses interoperability challenges. Issues such as core banking system incompatibility and outdated treasury management often require costly middleware development and infrastructure replacement. This factor is essential when implementing B2B payment automation, where transaction rails must synchronize with the legacy settlement system. Failure to address these challenges could hinder market adoption.

Competitive Environment

• Number of Competitors
  • More than 100 with revenue greater than $1.0 million
• Competitive Factors
  • Cost, performance, schedule, support, technology, reliability, industry ecosystem relationships, customer relationships
• Key End-User Industry Verticals
  • Retail and eCommerce, Manufacturing, Professional Services, IT and Technology, Banking and Financial Services (BFS)
• Leading Competitors
  • FIS, Fiserv, Bottomline, Coupa, Kyriba, Finastra, HighRadius, Payoneer, Bill.com, Billtrust, Paymate
• Revenue Share of Top 11 Competitors (2024)
  • 3.1%
• Other Notable Competitors
  • Infosys Finacle, JPMorgan Chase (WePay), WEX
• Distribution Structure
  • ISOs, ISVs, direct sales
• Notable Acquisitions and Mergers
  • Visa acquires Currencycloud; Thoma Bravo acquires Coupa

Table of Contents

Research Scope

• Scope of Analysis
• Segmentation

Growth Environment: Transformation in B2B Payments

• Why is it Increasingly Difficult to Grow?
• The Strategic Imperative 8™
• The Impact of the Top 3 Strategic Imperatives on the APAC B2B Payments Industry

APAC B2B Payments Ecosystem

• Competitive Environment
• Market Participants

Top 5 Industries Driving B2B Payments

• Retail and eCommerce
• Manufacturing
• Professional Services and Independent Contractors
• IT and Technology
• Banking and Financial Services

Growth Generator: APAC B2B Payments

• Growth Metrics
• Growth Drivers
• Growth Restraints
• Forecast Considerations
• APAC B2B Payments Revenue Forecast
• Revenue Forecast by Product
• Pricing Trends and Forecast Analysis
• Revenue Share

Growth Generator: EFT Payments

• Growth Metrics
• Revenue Forecast

Growth Generator: Card Payments

• Growth Metrics
• Revenue Forecast

Growth Generator: Digital Payments

• Growth Metrics
• Revenue Forecast

Key Companies to Watch

• Company Profiles

Growth Opportunity Universe in the APAC B2B Payments

• Growth Opportunity 1: Embedded AI for Process Automation
• Growth Opportunity 2: Unified Finance Platforms
• Growth Opportunity 3: Dynamic Supply Chain Finance SCF

Appendix

• Conclusion
• Big Predictions

Next Steps

• Benefits and Impacts of Growth Opportunities
• Next Steps
• List of Exhibits
• Legal Disclaimer