Funding for the global payments industry in Q2 2022 experienced its biggest quarterly decline since 2020. That’s according to a research report by CB Insights, titled “State of Payments Q2’22.”
According to the report, global payments funding dropped to $5.1 billion, its lowest level since Q4 2020, down 43% from Q1 2022. The number of deals decreased 18% from the previous quarter to 256.
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The CB Insights report addressed unicorns, private companies valued at $1 billion or higher. In Q2 2022, seven new payments-related unicorns were born, increasing the global number to 96.
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According to a report by Insider Intelligence, the volume of U.S. B2B payment transactions is anticipated to increase 7.8% year-over-year this year, reaching roughly $28 trillion.
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Celent is a U.S.-based research and advisory firm focused on global financial technology. Celent surveyed banks in 2021 to create a worldwide “State of the Nation” report for non-card payments modernization, asking bank executives about the future of deployment methods.
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