Key drivers for corporate clients worldwide to choose banks as payment provider 2023

Published by Statista Research Department, Jul 10, 2024

Corporate clients listed low cost of fees as a factor when choosing a bank as their payments provider, but it was not the top attribute they were looking for. Instead, they preferred a strong customer service - with the source listing this feature as a "non-negotiable". Costs and ease of integration are challenged by alternative providers. The B2B cross-border payments market, so the source estimates, is to increase by 43 percent with B2B e-commerce being one of the main drivers within this segment.

Top attributes listed by corporate clients worldwide as to why they chose their current bank as their payment provider in 2023

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Release date

September 2023

More information

Region

Worldwide, Australia, Brazil, Canada, China, France, Germany, India, Italy, Mexico, Singapore, Spain, United Kingdom, United States

Survey time period

July and August 2023

Number of respondents

211 and 223

Special properties

Bank and payment provider executives, plus executives in companies that subscribe to commercial payments services. See the “Details” tab for more information.

Method of interview

Face-to-face interview, online survey

Supplementary notes

The question was phrased by the source as follows: "Rank the top three key drivers that led you to choose your current bank providers."

The numbers provided come from two separate C-suite surveys held over the summer of 2023. First, executives from banks and payment providers were asked about their markets and client expectations. Second, clients from such commercial payment services were interviewed.

The clients came from the following industries: Telecom, Insurance, Health and Public services, Travel and rail, Auto and Industrial, and Retail.

Both surveys were held in the following countries: Australia, Brazil, Canada, China, France, Germany, India, Italy, Mexico, Singapore, Spain, United Kingdom, United States.

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