Opportunity Awaits: The Future of Small-Business Payments

Nearly half of small-business owners and those performing their banking activities describe themselves as fast adopters of technology.

Boston, December 8, 2021 Small-business owners are more tech-savvy than ever before and expect their bank partners to deliver modern and feature-rich digital offerings, especially for payments. These bank customers use technology across many facets of their personal lives and desire similar digital experiences for business banking. Banks that keep up with next-generation technologies and support the continued rise in digital payment transaction volume will seize opportunities to build and deepen relationships with these critical customers.

This brief, commissioned by and independently authored by Aite-Novarica Group, analyzes how small-business payment preferences are evolving and the role banks and technology must play to build a gateway toward payment transformation. It is based primarily on the results of a Q3 2021 Aite-Novarica Group online survey of 1,004 U.S.-based small businesses.

Clients of Aite-Novarica Group’s Commercial Banking & Payments service can download this 19-page Impact Brief. To learn more about the topic covered in this Impact Brief, please contact us at [email protected].

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