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1、Embedded B2B Payments:Unlocking the$16 Trillion Opportunity with a 5 Step Action Plan2 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action planContents01 Introduction 4 02 What are embedded B2B payments?603 There is a clear value for embedded payments in the B2B space 80

2、4 Unpacking the$16 trillion B2B embedded payments opportunity 1005 The B2B embedded payments value chain is formed by a range of 13 specialised participants 06 Many technology platforms already use embedded payments 1607 Strategic considerations and best practices for embedding payments solutions in

3、 technology platforms 1908 A 5 step action plan to make embedded payments a reality 22 About Edgar,Dunn&Company 24 Authors 25 Glossary 26 References 2701IntroductionEmbedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action plan4 Embedded B2B payments:Unlocking the$16 trillion

4、opportunity with a 5 step action plan 01 Introduction In the ever-evolving financial technology landscape,embedded payments have gone beyond a generic buzzword to become a reality.Consumer-facing services have swiftly embraced the concept of embedded payments.Think of your favourite mobile apps like

5、 Netflix or Uber-smooth transactions,in-app purchases,and subscription renewals seamlessly integrated into the user experience-and observe how embedded consumer payments have become a staple of our digital era.Embedded B2B payments,although still lagging behind in adoption compared to the consumer s

6、egment,is on a swift upward trajectory and Edgar,Dunn&Company estimates that embedded B2B payments will reach a market size of$16 trillion by 2030.This whitepaper explores why embedded payments have become critical in the B2B space,examines the ecosystem of specialised participants,and provides stra

7、tegic guidance for B2B technology platforms looking to implement embedded payment solutions.01 Introduction02What are Embedded B2B Payments?Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action plan6 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step

8、 action planEmbedded B2B payments involve seamlessly integrating payment functionalities into non-financial platforms or applications that businesses already use.The goal?To make the B2B payments journey as intuitive and efficient as its consumer counterpart.The first wave of B2B payment innovation

9、brought digital payments,but these still required users to manually switch between systems such as logging into a banking portal separately from a procurement platform to initiate payments,check balances,and confirm transactions.Embedded B2B payments represent the next evolutionary leap by integrati

10、ng payment capabilities and workflows directly within the business systems companies already use,without leaving this environment.02 What are embedded B2B payments?02 What are embedded B2B payments?03There is Clear Value for Embedded Payments in the B2B SpaceEmbedded B2B payments:Unlocking the$16 tr

11、illion opportunity with a 5 step action plan8 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action plan Real-time reconciliation:Automated recording directly at the point of transaction eliminates manual reconciliation challenges and resolves reporting delays,data mismatc

12、hes,and compliance risks.These compelling advantages will drive market adoption of embedded B2B payment solutions,creating a significant market opportunity.While electronic payments deliver fundamental benefits like speed,efficiency and cost reduction,embedding payment capabilities within B2B platfo

13、rms creates distinctive strategic advantages:Integrated payments with B2B platforms:Integrated payment systems eliminate platform switching and manual data re-entry,increasing internal efficiency,reducing errors and freeing staff for value-added tasks.With 69%of companies struggling with a lack of i

14、ntegration between payment and business systems1,embedded business software offers a comprehensive solution.Efficient approval work flows:Complex multi-stakeholder B2B approvals that delay invoice processing timelines by an average of 10 days2 or more can be condensed to minutes through automated ro

15、uting and customised approval matrices.Enhanced security:Given that over 60%of companies experienced B2B payment fraud in 20233,automated fraud prevention workflows mitigate risks by removing manual intervention,validating invoices and payment details and strengthening overall security.03 There is c

16、lear value for embedded payments in the B2B space03 There is clear value for embedded payments in the B2B space04Unpacking the$16 Trillion B2B Embedded Payments OpportunityEmbedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action plan10 Embedded B2B payments:Unlocking the$16 t

17、rillion opportunity with a 5 step action planEdgar,Dunn&Company estimates that the embedded B2B payments market will reach$15.6 trillion by 2030 representing a nearly fourfold from its market size in 2024,which stood at$4.1 trillion.The major share of this value is expected to originate from Asia Pa

18、cific,Europe and North America,aligning with trends observed in the broader B2B payments market.04 Unpacking the$16 trillion B2B embedded payments opportunity04 Unpacking the$16 trillion B2B embedded payments opportunity Our experience working with all stakeholders in the value chain shows strong mo

19、mentum in the embedded B2B payments market.The combination of technological platform maturity,rapid digitalisation of B2B processes,B2B e-commerce expansion,and growing acceptance network creates perfect conditions for embedded payments adoption across regions.From our perspective at Edgar,Dunn&Comp

20、any,these fundamental shifts will sustain high growth rates in the coming years.Gregoire ToussaintDirector Edgar,Dunn&Company4.15.26.68.210.212.615.6Transactional Value($trillion)2024202520262027202820292030Global Embedded B2B Payments Market Size($trillion)2024-2030Source:Edgar Dunn&CompanyCAGR:25%

21、11 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action planIn its latest whitepaper4,Edgar,Dunn&Company projected that the global B2B payments market will expand to$150 trillion by 2030 and embedded payments are projected to account for 10%of this market value.The drivin

22、g forces behind this 25%CAGR growth of embedded payments include the continuous technical advancements of B2B solutions,escalating adoption of digital payments and e-invoicing by both SMEs and large corporations.This expansion is further fuelled as technology platforms such as B2B software,vertical

23、SaaS and marketplaces seek to differentiate their offerings,strengthen customer relationships,and tap into new revenue streams through payment processing fees.AI is catalysing this transformation by enabling use cases such as automated invoice processing,enhanced fraud detection,predictive financial

24、 work flows and real-time transaction intelligence.Additionally,the expanding B2B e-commerce sector estimated to reach$67 trillion globally in 20295,and the rising prominence of B2B marketplaces,which serve as pivotal platforms for embedding payment solutions,contribute to this growth.The opportunit

25、y is particularly significant in cross-border transactions,where embedded payments can streamline traditionally complex processes around FX management,international compliance,and multi-currency reconciliation.With cross-border B2B payments expected to reach$56 trillion by 20306,embedded solutions a

26、re well-positioned to address longstanding friction points in international trade.As the industry witnesses these transformative shifts,the embedded B2B payments sector is poised for substantial growth,presenting a lucrative opportunity for all stakeholders in the value chain.04 Unpacking the$16 tri

27、llion B2B embedded payments opportunity05The B2B Embedded Payments Value Chain is Formed by a Range of Specialised ParticipantsEmbedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action plan13 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action plan

28、The embedded B2B payments value chain is a multifaceted network comprising a range of specialised participants,each delivering distinct services to build compelling solutions with strong value proposition.Payment providers form the foundation of the embedded B2B payments value chain and are composed

29、 of regulated entities and payment service enablers.Regulated entities(typically banks such as BNP Paribas,Citi,HSBC or JP Morgan)hold financial licenses and handle risk framework,compliance,and funds management.Payment service enablers build and maintain the infrastructure(middleware)for connecting

30、 these banks with technology platforms through APIs,making embedded payment capabilities accessible.Example players in this space include Weavr,Enfuce,Worldline,and Andaria.While these roles are often performed by separate institutions,in some cases a single institution may serve both functions as i

31、llustrated by U.S.Bank with its AP Optimiser offering.05 The B2B embedded payments value chain is formed by a range of specialised participantsThese payment functionalities are then integrated into the products and services of various technology platforms.Some examples include B2B software like SAP

32、Business Technology Platform(BTP),Oracle fusion ERP,and Microsoft Dynamics 365;vertical SaaS or industry-specific software such as Coupa(procurement and spend management)and Procore(construction project management);and B2B marketplaces like Mirakl.Through this integration,clients using these platfor

33、ms can offer their trading partners-buyers and suppliers-a streamlined and integrated transactional experience.05 The B2B embedded payments value chain is formed by a range of specialised participantsEmbedded B2B Payments Value ChainTechnology PlatformFinancial institutions holding banking licenses

34、undertaking tasks related to risk management,compliance,and the handling of fundsFintech or banks who deliver embedded payment solutions to technology platforms via APIsB2B software/ISVs,Vertical Saas and Marketplacesthat embed payments into their existing service offeringRoleIllustrativeplayersIn c

35、ertain cases,a regulated entity and a payment service enabler may overlap if a single institution possesses both capabilities,e.g.,U.S.Bank AP Optimizer offeringEnd-user SystemSuppliersBuyersCorporates and SMEs that utilise these B2B solutions to offer their buyers and suppliers,a seamless payment e

36、xperience$Firms offering add-on services such as FX,e-invoicing,B2B BNPL etc.Trading partners interacting within the end-user system$Payment transactionInformation exchangeValue-Added Service ProviderRegulated EntityPayment Service EnablerTrading PartnersProviders enabling the embedded B2B payment e

37、xperienceUsers of the embedded B2B payment solutionPayment Provider14 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action planThe value chain is further enriched by the involvement of value-added service providers offering ancillary services like B2B Buy Now Pay Later(BN

38、PL)(e.g.,Hokodo,Billie),foreign exchange(FX)management(e.g.,Kantox),and electronic invoicing(e.g.,Basware,Generix).These value-added providers have the capability to integrate directly with either payment providers or technology platforms and thereby improve the overall proposition.For technology pl

39、atforms,embedded payments are both a revenue driver and a strategic differentiator.While transaction fees(through card fees,markup,or revenue share agreements with payment providers)provide direct revenue,the rationale for embedding payments into their technical workflows also lies in increased plat

40、form stickiness and reduced customer churn.Early movers in embedded payments will be well-positioned to capture market share and establish a competitive advantage.05 The B2B embedded payments value chain is formed by a range of specialised participantsLouis WaplerManager Edgar,Dunn&Company Embedded

41、payments have fundamentally disrupted the B2B landscape for corporates,transforming disconnected payment processes into seamless workflows within business systems.By embedding payments,technology platforms such as procure-to-pay systems can generate new revenue streams across multiple payment method

42、s-from virtual cards to wire transfers-while eliminating the need for manual bank portal interactions.06Many Technology Platforms already use Embedded PaymentsEmbedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action plan16 Embedded B2B payments:Unlocking the$16 trillion oppor

43、tunity with a 5 step action planMastercard is also playing a pivotal role in embedded B2B payments across various industries,including healthcare.One notable example is its collaboration with health tech player,Remedinet in Asia Pacific8.By integrating its virtual card technology directly into Remed

44、inets platform,the solution drastically simplifies the traditionally complex healthcare claims payment process between insurers and healthcare providers.06 Many technology platforms already use embedded paymentsIt is interesting to note the whole payment value chain plays a very active role in embed

45、ded payments to facilitate the adoption and usage of different use cases.B2B supply chain platforms can leverage embedded payment options for efficient transaction processing between manufacturers,distributors,and corporates.SAP BTP (Business Technology Platform)and Visa teamed up to provide SAP cli

46、ents with embedded payment services7.Businesses can use Visa corporate and virtual cards to make payments on SAP software platforms directly,rather than leaving their existing enterprise ecosystem,whether or not they accept card payments.06 Many technology platforms already use embedded payments17 E

47、mbedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action planWhile fintech may have first jumped into the embedded payments wagon,banks have also begun to have more impact in this area.U.S.Bank launched an embedded payment solution for businesses within ERP system Microsoft Dy

48、namics 3659.This lets businesses utilising Dynamics 365 to access U.S.Banks AP Optimiser straight from their business application,enabling treasury management teams to automate invoice processing for corporate and consumer payment disbursement.Marketplaces have also come forward with interesting ini

49、tiatives.Ankorstore,a leading European B2B marketplace,has entered into a strategic partnership with B2B BNPL provider Hokodo to introduce enhanced flexibility in payment terms on its platform10.Leveraging Hokodos capabilities of buyer eligibility assessment in real-time,Ankorstore provides its clie

50、nts with the option to defer payments to a later date(30 or 60 days)or choose instalment plans(3 or 4 instalments),while ensuring that sellers receive full payment upon the delivery of goods.This is not an exhaustive list,and more players are realising the added value of embedding payments for their

51、 clients and partners.The list of compelling use cases is wide,and many opportunities still need to be explored.06 Many technology platforms already use embedded payments07Strategic Considerations and Best Practices for Embedding Payments Solutions in Technology PlatformsEmbedded B2B payments:Unlock

52、ing the$16 trillion opportunity with a 5 step action plan19 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action plan07 Strategic considerations and best practices for embedding payments solutions in technology platforms Technology platforms seeking to embed payments must

53、 first understand the key payment hurdles and pain points their clients face.Edgar,Dunn&Company has identified several hurdles through different engagements and numerous conversations with corporates as part of our B2B practice,ranging from technical complexities and compliance issues to security co

54、ncerns,as below:Many corporates are hesitant to change their current payment processes due to internal policies or the comfort of the status quo.Corporates often lack detailed visibility into their current direct and indirect B2B payment costs,making it challenging to quantify the return on investme

55、nt of new solutions.The perceived costs and integration complexity of digital payments is also a concern.There is also low market awareness about the benefits of embedded payments among businesses.Many corporates still face the chicken-and-egg dilemma-hesitating to embrace new payment flows and solu

56、tions unless confident their trading partners will accept and use them.07 Strategic considerations and best practices for embedding payments solutions in technology platforms Security and data privacy concerns also persist as business platforms will gain access to sensitive transaction-level payment

57、 data.A recent study by infrastructure platform Unit11 finds that 84%of businesses are open to receiving financial services,such as payments,from their technology vendors.However,converting this willingness into actual adoption requires addressing pain points and ensuring that embedded payment offer

58、ings deliver clear value.At the primary level,this includes providing comprehensive ROI analysis to clients,ensuring broad acceptance of payment methods-such as bank transfers,payment cards(including virtual cards),and alternative payment methods-and implementing robust security measures.20 Embedded

59、 B2B payments:Unlocking the$16 trillion opportunity with a 5 step action plan07 Strategic considerations and best practices for embedding payments solutions in technology platforms The offering can be further enhanced by partnering with value-added service players.For horizontal software like ERPs a

60、nd AR/AP solutions,this means integrating features such as multicurrency support,KYB compliance,financing options and dynamic discounting.Vertical-specific SaaS platforms can further leverage their rich industry-specific proprietary data to offer tailored financial use cases.Examples include automat

61、ed claims processing and eligibility verification in the healthcare sector,and progress payment automation and lien waiver processing in the construction vertical.Most importantly,the platform must offer end-to-end functionalities to prevent users from needing to switch to external systems.Regarding

62、 execution,technology platforms face a critical build versus partner decision.Rather than becoming fintech themselves,partnering is often the preferred option to start with as it provides a faster time-to-market,fewer regulatory hurdles,minimal upfront costs,and lower risk exposure.This decision can

63、 be re-evaluated at a later stage as transaction volumes grow and initially focusing on core product offering while leveraging payment providers expertise often proves the correct strategy.Rohan ShajuAssociate ConsultantEdgar,Dunn&Company Unlike C2B,B2B transactions involve specific approval workflo

64、ws,payment terms,and compliance requirements.Strategic partnerships are crucial for technology platforms to address these complexities while maintaining focus on core competencies.Success lies in creating a win-win-win value proposition where platforms gain competitive advantage,payment providers ex

65、pand their reach,and end customers benefit from seamless financial workflows.08A 5 Step Action Plan to Make Embedded Payments a RealityEmbedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action plan22 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step act

66、ion plan1.Payment needs assessment:Conduct a thorough assessment of customers current payment processes,pain points,and future state requirements to define a compelling embedded payments value proposition2.Business case:Explore the optimal partnership model and ROI business case,covering both direct

67、 revenue opportunities(e.g.,transaction fees,markup)and indirect benefits(e.g.,customer stickiness,reduced churn)3.Partner evaluation:Evaluate payment providers through a structured RFP process,ensuring alignment on technical,commercial,and strategic levels and involving the different stakeholders a

68、nd departments at the technology platforms08 A 5 step action plan to make embedded payments a reality08 A 5 step action plan to make embedded payments a reality For technology platforms looking to begin their embedded payments journey,Edgar,Dunn&Company recommends the following steps:4.Go-to-market

69、strategy:Develop a comprehensive go-to-market strategy including pricing structure,sales enablement,and customer education to drive adoption5.Implementation planning:Create a detailed implementation plan covering architecture,integration approach,and phased rollout to minimise disruption to existing

70、 customers2.Business Case3.Partner Evaluation4.Go-to-Market Strategy5.Implementation Planning1.Payment Needs Assessment2.13.14.15.11.1Identify friction pointsMap customers payment processesDefine future state requirements2.23.24.25.21.22.33.34.35.31.3Explore partnership models with payment providers

71、Model business scenariosSecure stakeholder buy-inSales enablementCreate thought leadership materialDesign pricing strategyDesign solution architectureDevelop integration approachExecute pilot programIssue RFP requirementsCreate shortlistof payment providerpartnersEvaluate RFP responsesand negotiate2

72、3 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action planOur experience working closely with banks,schemes,fintech,technology platforms,and corporates on B2B payment projects has provided us with clear perspectives on the future-the trend is unmistakably bullish for emb

73、edded payments in the B2B landscape.Looking ahead,the question is no longer if embedded payment functionalities will become a staple in the majority of B2B solutions,but rather a matter of how and when.This inevitable integration will define a new era of transaction efficiency in B2B payments,one th

74、at Edgar,Dunn&Company is primed to support alongside our partners and clients.08 A 5 step action plan to make embedded payments a reality24 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action planAbout Edgar,Dunn&Companypayment experience across all touch points(i.e.phys

75、ical and digital)remains a significant challenge.The payment-related organizational structure in hotel chains reflects a sector still maturing in its approach to payment management as understood from our interviews.At the property level,payments are often managed by multiple staff members as a secon

76、dary responsibility,limiting opportunities for process optimization and strategic oversight.At the brand level,approaches to payment organization vary significantly but generally follow three maturity levels.Most organizations currently operate with a part-time model,where payment responsibilities a

77、re distributed across finance,operations,digital,and distribution teams,with no clear ownership.Some have evolved to a cross-departmental approach with a dedicated payment manager coordinating across these functions.Only a few leading chains have established dedicated payment teams with clear owners

78、hip and strategic focus.Edgar,Dunn&Company is an independent global strategy consulting firm specialising in payments and fintech.Since 1978,we have partnered with our clients to solve challenging strategic problems,providing critical business guidance to accelerate profitable growth.Borderless Stra

79、tegy Consultants We deliver measurable results with a unique global perspective for our clients across more than 45 countries.We are widely regarded as trusted and independent advisors,providing a full suite of strategy consulting services,expertise and market DUBAI FRANKFURT LONDON PARIS SAN FRANCI

80、SCO SYDNEYExperts in Payments and FinTech25 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action planGregoire ToussaintDirector Edgar,Dunn&Company +33 6 7026 9925Louis Wapler Manager Edgar,Dunn&CRohan ShajuAssociate ConsultantEdgar,Dunn&CAuthors26 Embedded B2B payments:Un

81、locking the$16 trillion opportunity with a 5 step action planGlossaryAcronymB2BERPROISaaSBNPLFXAPIKYBAP/ARCAGRBusiness to BusinessEnterprise Resource PlanningReturn on InvestmentSoftware as a ServiceBuy Now,Pay LaterForeign ExchangeApplication ProgrammingInterfaceKnow Your BusinessAccounts Payable/A

82、ccounts ReceivableCompound AnnualGrowth RateB2B is a commercial interaction between two businesses,encompassing transactions,services,and payments between companies rather than between a business and individual consumers.ERP is an integrated software system that helps organisations manage and coordi

83、nate core business processes across departments,including finance,human resources,and supply chain management.SaaS is a cloud-based software delivery model where applications are hosted online and accessed by users via the internet,eliminating the need for local installation and maintenance.BNPL is

84、a flexible payment option that allows businesses or consumers to purchase goods or services and defer payment to a later date,often in installments.FX is the process of converting one currency into another,critical for international trade and cross-border business transactions.API is a set of protoc

85、ols,routines,and tools for building software applications,enabling different systems to communicate and share data seamlessly.KYB is a due diligence process that involves verifying the identity,legitimacy,and financial health of business entities to mitigate risks.Accounts Payable/Receivable refers

86、to the financial processes of tracking money owed by a business(payable)and money owed to a business(receivable).CAGR is a metric that represents the steady,normalised growth rate of a market over a specified time period,accounting for compounding.ROI is a performance measure used to evaluate the ef

87、ficiency or profitability of an investment by comparing the gain from an investment relative to its cost.Full formDescription27 Embedded B2B payments:Unlocking the$16 trillion opportunity with a 5 step action planReferences1.Poole College of Management-North Carolina State University,Electronic Paym

88、ents in Transition,Available at:https:/scm.ncsu.edu/2.Balance,2023,B2B ecommerce:The ultimate list of B2B payment statistics,Available at:https:/ at:https:/ best practices to capture opportunities in the fast-growing$137 trillion global B2B payments market,Available at:https:/ One Shopping Research,

89、B2B eCommerce statistics,2024,Available at:https:/ Intelligence&High Radius,2024,Global B2B cross-border payments to grow 43%to$56tn by 2030,Available at:https:/ and SAP join forces to make enterprise payments more efficient,Available at:https:/www.visa.co.in/about-visa/newsroom/press-releases/visa-

90、and-sap-join-forces-to-make-enterprise-payments-more-efficient.html8.Fintech Magazine,2024,Mastercard:Supporting B2B Healthcare With Payments Solution,Available at:https:/ first embedded payment solutions as part of Microsoft collaboration,Available at:https:/ drives increased spend and improved stickiness,Available at:https:/www.hokodo.co/resources/with-digital-trade-credit-ankorstore-drives-increased-spend-and-improved-stickiness11.Unit&Harris Insights and Analytics,2024,The State of Business Finances,Available at:https:/www.unit.co/the-state-of-business-finances-report