Small-Business Payment Disruptors 2023

How All-in-One Solutions Can Combat Small Businesses’ Economic Woes

Report by Jaime Toplin  | Apr 27, 2023
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Executive Summary
Economic uncertainty is changing SMB priorities—and throwing trillions of dollars of payment value up for grabs.
Providers must invest in all-in-one solutions that are both broad and customizable.
Three core groups of PSPs are competing to serve SMBs—and there’s room for more.
All-in-one solution innovation will focus on payments, cash flow access and management, verticalization, and marketing support in 2023.
Payment product innovation should focus on streamlining the checkout experience.
Cash flow management tools are more important than ever as SMBs grapple with the economy.
Solutions that improve access to capital and better financing can resolve SMBs’ cash flow crisis.
A comprehensive suite of plug and play, customizable solutions will satisfy the widest breadth of SMBs.
Integrated marketing support will be a PSP innovation frontier in 2023.
Once providers have built out their all-in-one solutions, they must ease SMBs’ access to them.
Insider Intelligence Interviews
Sources
Media Gallery
About This Report
Payment service providers competing to serve small and medium-sized businesses have a new opportunity to win them over with cutting-edge payment, cash flow, capital, and marketing tools.
Topics
Financial Services
Payments
Retail Ecommerce Sales
United States
Table of Contents
Executive Summary
Economic uncertainty is changing SMB priorities—and throwing trillions of dollars of payment value up for grabs.
Providers must invest in all-in-one solutions that are both broad and customizable.
Three core groups of PSPs are competing to serve SMBs—and there’s room for more.
All-in-one solution innovation will focus on payments, cash flow access and management, verticalization, and marketing support in 2023.
Payment product innovation should focus on streamlining the checkout experience.
Cash flow management tools are more important than ever as SMBs grapple with the economy.
Solutions that improve access to capital and better financing can resolve SMBs’ cash flow crisis.
A comprehensive suite of plug and play, customizable solutions will satisfy the widest breadth of SMBs.
Integrated marketing support will be a PSP innovation frontier in 2023.
Once providers have built out their all-in-one solutions, they must ease SMBs’ access to them.
Insider Intelligence Interviews
Sources
Media Gallery

Executive Summary

Economic uncertainty has slashed small and medium-sized business (SMB) satisfaction with their payment service providers (PSPs). This is intensifying competition between acquirers and processors, banks, fintechs, and the vendors that serve them. Providers must enhance and simplify access to cutting-edge solutions that solve key pain points—or risk losing share.

Key Question: How can PSPs attract and retain SMB clients amid disruption in 2023?

Leading Expectations of Their Payment Services Providers According to SMBs Worldwide, 2022 (% of respondents)
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KEY STAT: SMB expectations of their PSPs are ramping up as they demand new services—especially centralized account management (61%), new payment methods (59%), and optimization (57%).

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    Table of Contents

    1. Executive Summary
    2. Economic uncertainty is changing SMB priorities—and throwing trillions of dollars of payment value up for grabs.
    3. Providers must invest in all-in-one solutions that are both broad and customizable.
    4. Three core groups of PSPs are competing to serve SMBs—and there’s room for more.
    5. All-in-one solution innovation will focus on payments, cash flow access and management, verticalization, and marketing support in 2023.
    1. Payment product innovation should focus on streamlining the checkout experience.
    2. Cash flow management tools are more important than ever as SMBs grapple with the economy.
    3. Solutions that improve access to capital and better financing can resolve SMBs’ cash flow crisis.
    4. A comprehensive suite of plug and play, customizable solutions will satisfy the widest breadth of SMBs.
    5. Integrated marketing support will be a PSP innovation frontier in 2023.
    1. Once providers have built out their all-in-one solutions, they must ease SMBs’ access to them.
    2. Insider Intelligence Interviews
    3. Sources
    4. Media Gallery

    Charts in This Report

    Leading Expectations of Their Payment Services Providers According to SMBs Worldwide, 2022 (% of respondents)Estimated US SMB Industry Payment Volumes, 2019 & 2026 (trillions)
    Point-of-Sale (POS) Hardware Offerings at US SMBs, by Stage of Implementation, Oct 2022 (% of respondents)Share of SMBs That Applied for Loans, Lines of Credit, or Cash Advances, 2017-2022 (% of total SMBs)
    How Well Sales and Marketing Processes Are Integrated According to SMB Sales and Marketing Professionals Worldwide, Dec 2021 (% of respondents)

    Interviewed for This Report

    Dan Bjerke
    Fiserv
    Global Head of Clover
    Interviewed March 13, 2023
    Brett Sussman
    American Express
    Vice President/Head of Marketing and Sales, Business Blueprint & Banking
    Interviewed March 6, 2023

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    Download
    Report
    The One-Pager
    Share
    Table of Contents
    Executive Summary
    Economic uncertainty is changing SMB priorities—and throwing trillions of dollars of payment value up for grabs.
    Providers must invest in all-in-one solutions that are both broad and customizable.
    Three core groups of PSPs are competing to serve SMBs—and there’s room for more.
    All-in-one solution innovation will focus on payments, cash flow access and management, verticalization, and marketing support in 2023.
    Payment product innovation should focus on streamlining the checkout experience.
    Cash flow management tools are more important than ever as SMBs grapple with the economy.
    Solutions that improve access to capital and better financing can resolve SMBs’ cash flow crisis.
    A comprehensive suite of plug and play, customizable solutions will satisfy the widest breadth of SMBs.
    Integrated marketing support will be a PSP innovation frontier in 2023.
    Once providers have built out their all-in-one solutions, they must ease SMBs’ access to them.
    Insider Intelligence Interviews
    Sources
    Media Gallery
    About This Report
    Payment service providers competing to serve small and medium-sized businesses have a new opportunity to win them over with cutting-edge payment, cash flow, capital, and marketing tools.
    Topics
    Financial Services
    Payments
    Retail Ecommerce Sales
    United States
    Table of Contents
    Executive Summary
    Economic uncertainty is changing SMB priorities—and throwing trillions of dollars of payment value up for grabs.
    Providers must invest in all-in-one solutions that are both broad and customizable.
    Three core groups of PSPs are competing to serve SMBs—and there’s room for more.
    All-in-one solution innovation will focus on payments, cash flow access and management, verticalization, and marketing support in 2023.
    Payment product innovation should focus on streamlining the checkout experience.
    Cash flow management tools are more important than ever as SMBs grapple with the economy.
    Solutions that improve access to capital and better financing can resolve SMBs’ cash flow crisis.
    A comprehensive suite of plug and play, customizable solutions will satisfy the widest breadth of SMBs.
    Integrated marketing support will be a PSP innovation frontier in 2023.
    Once providers have built out their all-in-one solutions, they must ease SMBs’ access to them.
    Insider Intelligence Interviews
    Sources
    Media Gallery
    Download PDF

    authors

    Jaime Toplin

    Contributors

    Eleni Digalaki
    Principal Analyst
    David Morris
    Principal Analyst
    Melissa Rosenberg
    Senior Researcher