Small-Business Payment Disruptors: How Merchant Services Players Can Tap Into Changing Competitive Dynamics and Tech Innovation

Small-Business Payment Disruptors: How Merchant Services Players Can Tap Into Changing Competitive Dynamics and Tech Innovation

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The combination of increasing payment and operational digitization and rising merchant services satisfaction among small and medium-sized businesses (SMBs) is forcing banks, acquirers, and fintechs to evolve their offerings. To compete in the crowded market—and earn the volume and revenue opportunity this customer base presents—merchant services players will need to ramp up innovation across payments, value-added services, and outreach and marketing.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

  1. How will merchant services providers be affected by changes in the SMB landscape?
  2. Which classes of providers are best positioned to succeed and meet the specific needs of SMB owners?
  3. What are key areas of innovation and best practices across payments, value-added services, and outreach?

WHAT’S IN THIS REPORT? Based on data and interviews with key industry figures, we evaluate the major groups of providers competing to serve small businesses, examine wholesale changes in the approach to SMB merchant services, identify specific areas of investment set to dictate innovation in 2022, and spotlight best practices for payment service providers (PSPs).

Importance of Financial Operations Technology Interoperability to US SMBs, Oct 2021 (% of respondents)

KEY STAT: Nearly 7 in 10 small businesses rank interoperability as “very” or “extremely” important, underscoring the benefits of an ecosystem-driven approach for merchant services providers competing for share of the market.

Here’s what’s in the full report

Table of Contents

  1. Executive Summary
  2. Key Points
  3. Introduction
  4. The Shifting Opportunity in Small Business
  5. The Competitive Landscape
  6. How Providers Can Best Serve Small Businesses in the Current Climate
  7. Insider Intelligence Interview

Charts in the Report

  1. Importance of Financial Operations Technology Interoperability to US SMBs, Oct 2021 (% of respondents)
  2. The US Small- and Medium-Sized Business Market, by Revenue Category (number of firms and billions, March 2020)
  3. US Small Businesses' Satisfaction with Their Merchant Services Providers, Feb 2022 (scale of 0-1,000*)
  4. Payment Priorities According to Digital Small Business* Decision-Makers Worldwide, Oct 2021 (% of respondents )
  5. Financial Services Trends Likely to Have a Positive Impact on US Small Businesses, Jan 2022 (% of respondents)
  6. US Retail Ecommerce Sales, 2020-2026 (billions, % change, and % total retail sales)
  7. NFC-Ready Mobile Point-of-Sale (mPOS) Terminal Shipments Worldwide, 2020 & 2025 (millions)
  8. Block Gross Profit Worldwide, by Segment, 2018-2021 (thousands)
  9. US Addressable Market for Merchant Acquirers, by Vertical, 2020 (billions)
  10. Financial Challenges Faced by US Small Businesses During the Past 12 Months*, Oct 2020 (% of respondents)
  11. Services for Which Digital Small Business* Decision-Makers Worldwide Would Pay a Premium, Dec 2021 (% of respondents )

Interviewed for the Report

  1. Brad Brodigan, JPMorgan Chase, Managing Director and Global Head of SMB Payments
  2. Brian Dammeir, Adyen, President, North America
  3. Jeff Dickerson, Fiserv, Head of Clover Solutions
  4. Aparna Khurjekar, Verizon, President, Verizon Business Markets
  5. Saumil Mehta, Square, Head of Point-of-Sale
  6. Mark Monaco, Bank of America, Head of Enterprise Payments
  7. Kathryn Petralia, Kabbage, Co-founder
  8. Afshin Yazdian, Paysafe, CEO, US Acquiring

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