We have found that significant value can be unlocked for SMEs by making or receiving payments strategically in a manner that attracts rewards, improves working capital, drives efficiency or optimises processes.
Both buyers and sellers can benefit (albeit differently) from more modern, digital* payment capabilities such as card-based platforms, that are now emerging on the Australian market.
This report draws on several quantitative and qualitative research efforts conducted domestically and internationally.
Summary conclusions include
- A paytech revolution is sweeping the SME landscape
- Fintechs are developing highly tailored, innovative and niche payment technology to address the specific needs of SMEsSmall and medium-sized enterprises (SMEs) encounter many challenges and complexities in running and growing their businesses. At the very core of every business is its ability to take in revenue (to sell) and to secure its supply of inventory and other inputs (to buy).
- Adoption of paytech to digitise payments and attract rewards is helping SMEs extract value for their business
- Understanding paytech, selecting the right paytech partner and the right way to pay is key
- SMEs now have options and opportunities to digitise their payment processes.