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?
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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