The Small Business Payments Ecosystem: How Small Business Owners Pay and Want to Get Paid
- Date:October 30, 2015
- Author(s):
- Michael Moeser
- Report Details: 30 pages, 15 graphics
- Research Topic(s):
- Small Business
- Digital Banking
- PAID CONTENT
Overview
As small and micro businesses continue to grow within the U.S. economy, how they pay their suppliers and how they receive payments from their customers continues to evolve. While traditional paper invoices, checks, and letters of credit continue to be mainstays within the small business payments ecosystem, new forms of payment, such as credit cards and international ACH, are on the rise. This report also explores the impact of cross-border receipts and payments and how small businesses manage the foreign currencies that result from these transactions. Finally, the report examines the how small businesses invoice their customers in an effort to highlight potential opportunities for the companies that serve this market.
Methodology
Learn More About This Report & Javelin
Related content
Tap to Pay Brings Mobile Payment Acceptance to the Banking App
Chase and TD Bank are blazing the trail for financial institutions to build mobile tap-to-pay technology into their banking apps to enable microbusinesses, sole proprietors, and fr...
Mapping Out the Generative AI Future at Three Large Fintechs
Over the past five years, Javelin Strategy & Research has persistently raised the alarm about the escalating influence of three dominant fintech platforms—Intuit, Block, and PayPal...
Customer Service Upgraded: Four Ways Digital Can Make Small-Business Banking Human Again
For small-business owners, banking is not just a series of transactions but also a pivotal part of their long-term business strategy and growth. They seek a banking partner that un...
Make informed decisions in a digital financial world