India’s digital payments ecosystem may be entering its next phase, with business-to-business (B2B) payments emerging as a major growth opportunity. Speaking at Global FinTech Fest 2026, Shruti Gupta, Head of Commercial and Money Movement Solutions, India and South Asia at Visa, highlighted the growing importance of commercial payments.
The focus is shifting beyond everyday consumer transactions toward areas such as supplier payments, virtual credentials, working-capital solutions and integrated business payment systems. As more SMBs and mid-market companies adopt digital payment tools, businesses could gain greater transparency, control and efficiency across their financial operations.
A key opportunity lies in connecting payments with the wider B2B workflow. Recent industry discussions point toward interoperable digital infrastructure that can connect invoices, payments, reconciliation and financing, potentially making business transactions easier to verify and helping lenders assess cash flows more effectively.
This could be particularly significant for India's MSME sector, where delayed receivables and limited access to formal credit remain challenges. Industry estimates cited by The Economic Times put pending MSME payments at around ₹8 lakh crore.
Why it matters: India's payments story has largely been defined by the rapid rise of consumer digital payments and UPI. The next opportunity could be bringing the same level of digitisation, interoperability and automation to business transactions, creating a more connected B2B financial ecosystem.