Visa isn’t the only company targeting the gigantic B2B payments and remittances markets for growth. In the B2B arena, there are a host of new entrants, such as Ramp, seeking to provide businesses with new digital tools for moving money. And when it comes to remittances, incumbents such as MoneyGram and fintechs like Remitly, are battling to win over consumers with new, faster, cheaper ways of sending money across borders.
San Francisco-based Visa sees the $120 trillion B2B market in three segments, with the two smaller parts of that being near-term opportunities, as in the next three to five years, while the biggest part of it is a longer-term proposition, Prabhu said.
