2023 Small Business PaymentsInsights: U.S. Exhibit

Small businesses make up the largest segment of businesses in the U.S. economy. Understanding the types of payments these businesses accept and the vendors that enable these services is critical to understanding the U.S. payments landscape. Small businesses are on the front lines to adapt to changing consumer payment preferences and must be ready for change.

Payment acceptance has widely remained the same as last year. Cash is still the most widely accepted payment method for in-store transactions, followed by checks, debit cards, and credit cards.

Small businesses rely on their financial institutions to meet financial needs and support operations. Banks provide a variety of solutions, including lending and cash management functions, payment acceptance support, and financial coaching.

Cash flow continues to be a major concern for small business owners. As businesses deal with rising inflation, supply chain issues, and uncertain economic conditions, daily operations will become even more difficult. When cash flow becomes strained, small businesses rely on financial institutions for credit products, particularly business credit cards.

Highlights of the 2023 Small Business PaymentsInsights: U.S. Exhibit

• Managing Cash Flow
• Looking to the Future
• Business Operations
• Choosing a Financial Institution (Bank)
• Business Credit
• Deposit and Loan Services
• Installment Loans
• Accounts Payable/Receivable
• Payroll Services
• Short-Term Financing
• Card Processing
• Cash Use
• Contactless Payments
• Cryptocurrency
• Fraud