B2B digital markets show clear differences by stage of development. Powerhouse markets such as Brazil, India, and Mexico combine scale with diversified verticals, while expansion markets like Chile, Peru, and the Philippines are building momentum across SaaS and Travel. In next-wave ecosystems such as Kenya, Nigeria, and Ecuador, SaaS often emerges as the early backbone of B2B digital activity.

Payment preferences in B2B and B2C transactions vary significantly across markets, reflecting differences in local payment ecosystems, infrastructure, and merchant acceptance. While some countries show a strong reliance on account-to-account transfers in business payments, consumer transactions often lean more heavily on cards or digital wallets.

For example, Argentina shows a strong dominance of A2A in B2B transactions, while B2C payments are largely driven by digital wallets (mostly Mercado Pago) and credit cards. In Brazil, both B2B and B2C payments are heavily concentrated in A2A transfers, reflecting the widespread adoption of Pix's infrastructure. Other markets display different patterns: Chile shows strong usage of both debit and credit cards, while Mexico and Peru present a more diversified mix, combining cards, cash-based methods, and account-based payments.

It is also important to note that merchants who process payments with EBANX typically offer a broader range of alternative payment methods than the market average. When given the choice beyond cards, many consumers and businesses opt for local APMs, shifting a larger share of transactions toward account-to-account transfers, wallets, or cash-based methods. As a result, card share in EBANX data can appear lower than the market average, reflecting broader payment choice.

When businesses are given real payment choice, their preferences can look very different from the market average. To better understand this behavior, this analysis focuses on EBANX merchants that offer at least three payment methods, creating an environment where companies can actively choose how to pay rather than defaulting to the most widely offered option.

The results reveal that business payment behavior varies significantly by vertical and market, often diverging from the card-heavy mix typically observed at the benchmark level. In Brazil, for example, companies frequently adopt local payment methods such as Pix and Boleto when available. In sectors like Travel and Social media, Pix accounts for more than half of transactions, far above the market average. In Online Education, Boleto represents 75% of B2B payments, despite credit cards being the dominant payment method in the broader market.

A similar pattern appears in Mexico, where the payment mix shifts depending on the vertical. In SaaS, businesses rely heavily on cards (especially debit), but in Social Media services, payments move strongly toward SPEI and cash-based methods such as OXXO, which together represent the majority of transactions.

Overall, the analysis shows that when multiple payment options are available, companies actively adopt local payment methods, reducing the relative share of cards and highlighting the importance of offering a diversified payment stack in B2B digital commerce.