What SMBs Want in a Payments Solution

We recently surveyed 500 U.S. SMB principals to determine what they want in the systems they use to accept payments from their customers. For context, the 2024 growth outlook for payments technology is very positive. Almost half of very small businesses (VSBs, with fewer than 20 employees), three in five small businesses (SBs, with 20 to 99 employees), and seven in ten midsized businesses (MBs, with 100 to 500 employees) expect to increase spending on payments technology this year.

2024 Payments Technology Spending Outlook

For SMBs who will invest in a new payments solution, what’s most important varies by size. VSBs and SBs are most interested in reliability/high availability. After that, they want a secure solution, and to receive payments quickly. MBs prioritize good customer service and scalability, followed by reliability.  

What SMBs Want in a New Payments Solution

Looking for deeper insight into your target SMB?  Bredin’s global research gives you in-depth, actionable insights to improve your go-to-market, product, pricing, UX, and other strategies. We also generate uniquely valuable data for high-impact content, PR, social, and sales support programs.