[eMarketer] US businesses explore innovative payment options post pandemic

US B2B payments declined slightly faster than expected in 2020 at -7.1% as opposed to -4.9% for an actual sales value of $25.539 trillion in 2020.

By year end 2021, those sales will grow by 7.8% for an overall sales value of $27.542 trillion.

US businesses opted for more digital options of payment completion in 2020.

According to eMarketer, Check and cash is still the most popular option of B2B payments with a share of 50.0% in 2019. That said, in 2020 its transaction value declined by 16.4%, reducing its share to 45.0%.

Automated Clearing House (ACH) payments are the second most popular B2B payment option with a share of 39.2% in 2020, reaching above $10 trillion for the first time.

Card payments took a hit in 2020 with a decline of approximately 5%, which lead to a payment value of $1.434 trillion. We expect this payment type will rebound in 2021 and end up taking a 6.0% share of overall B2B payments.

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