Small Business and Electronic Payments
Highlights of the Small Business Survey Performed by Market Platform Dynamics and Commissioned by PaySimple
Results of the survey indicate that over the next two years, small businesses believe more of their commerce will be done using electronic payments.
Top Line Findings:
- Collecting payments is a key strategic priority.
- Small businesses lag the general US economy in the adoption of electronic payments.
- Acceptance is driven by customer's needs for more payment options.
- Small businesses want better solutions and functionality -- and will switch service providers to get it.
- Small business believes that electronic payments is in their future.
Survey Methodology:
- 545 small businesses with annual revenues of up to $5 million were surveyed between April 14 and April 30, 2008
- 30 questions covering six topics: demographic profile, banking relationships, payment acceptance, payment card acceptance, payment mix, receivables management
- Broad industry and geographic coverage
