The number of digital B2B payments in Canada and the United States is forecast to grow with a CAGR of 7.5 percent between 2023 and 2028. This is according to research from Capgemini Research Institute for Financial Services Analysis. In 2023 - the most recent year estimated by the source - 52.5 billion cashless transactions were carried out in North America - here without Mexico. This is the second-highest number worldwide for B2B, behind Europe. The source is not clear whether this includes both domestic and cross-border payments. It does point towards the importance of Swift and ISO 20022, as these initiatives hope to improve B2BÂ cross-border payments in regions such as North America. It adds that North America has the lowest growth of all global regions when it comes to B2B digital payments, observing a prevalence of paper checks and invoices in North America.
Total number of cashless B2B and retail payment transactions in North America from 2014 to 2023, with forecasts for 2024 and 2028
(in billions)
The B2B digital transaction volume for North America (excluding Mexico) is projected a 7.0 percent increase in 2024, and a 7.5 percent CAGR for 2023-2028; The retail digital transaction volume for North America (excluding Mexico) is projected a 6.3 percent increase in 2024, and a 7.3 percent CAGR for 2023-2028.
Supplementary notes
The source adds that commercial payments consists of payments between businesses, and do not include individuals. Figures for "retail" have been calculated by Statista.
The source does not provide figures for individual countries, and likely excludes Mexico from North America.
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Statista, & Capgemini. (October 22, 2024). Total number of cashless B2B and retail payment transactions in North America from 2014 to 2023, with forecasts for 2024 and 2028 (in billions) [Graph]. In Statista. Retrieved May 05, 2025, from https://www.statista.com/statistics/1551607/north-america-number-of-cashless-payments-in-b2b/
Statista, und Capgemini. "Total number of cashless B2B and retail payment transactions in North America from 2014 to 2023, with forecasts for 2024 and 2028 (in billions)." Chart. October 22, 2024. Statista. Accessed May 05, 2025. https://www.statista.com/statistics/1551607/north-america-number-of-cashless-payments-in-b2b/
Statista, Capgemini. (2024). Total number of cashless B2B and retail payment transactions in North America from 2014 to 2023, with forecasts for 2024 and 2028 (in billions). Statista. Statista Inc.. Accessed: May 05, 2025. https://www.statista.com/statistics/1551607/north-america-number-of-cashless-payments-in-b2b/
Statista, and Capgemini. "Total Number of Cashless B2b and Retail Payment Transactions in North America from 2014 to 2023, with Forecasts for 2024 and 2028 (in Billions)." Statista, Statista Inc., 22 Oct 2024, https://www.statista.com/statistics/1551607/north-america-number-of-cashless-payments-in-b2b/
Statista & Capgemini, Total number of cashless B2B and retail payment transactions in North America from 2014 to 2023, with forecasts for 2024 and 2028 (in billions) Statista, https://www.statista.com/statistics/1551607/north-america-number-of-cashless-payments-in-b2b/ (last visited May 05, 2025)
Total number of cashless B2B and retail payment transactions in North America from 2014 to 2023, with forecasts for 2024 and 2028 (in billions) [Graph], Statista, & Capgemini, October 22, 2024. [Online]. Available: https://www.statista.com/statistics/1551607/north-america-number-of-cashless-payments-in-b2b/
