And those challenges tend to be related to the widening gap in digital transformation when it comes to the back office and payments functions of SMBs versus their larger, enterprise peers.

Still, with the news Tuesday (Sept. 3) that payment-as-a-Service provider UNIPaaS has launched a small-business-focused invoice payments partnership with American Express, embracing purpose-built solutions that cater to the unique needs of SMBs is top of mind for both Main Street merchants as well as the FinTechs and payment innovators serving them.

After all, SMBs are a diverse group, varying in size, industry, and geographical location, making their payment preferences equally diverse. Unlike large enterprises that can build custom payment systems or dedicate resources to advanced treasury management, SMBs operate with more limited budgets and infrastructure. As a result, their payment needs tend to revolve around key priorities such as affordability, simplicity, flexibility and reliability.

As these businesses begin to embrace and integrate digital tools, the potential for increased efficiency, reduced costs, and faster access to working capital will not only drive growth for SMBs but will also transform the landscape of global commerce.

Read more: Small Businesses Embrace Instant Payments: Benefits Beyond Speed

Why the Untapped Small Business Segment Is a Goldmine

SMBs represent a massive volume of daily transactions across sectors, from retail and manufacturing to services and logistics. Digitizing these transactions through better payments systems could drastically improve efficiency, cash flow, and transparency for businesses.

The PYMNTS Intelligence report, “End the Wait: SMBs and the Protracted Challenge of Delayed Payments,” in conjunction with American Express, analyzes whether a new wave of digital transformation could signal the end of an ongoing and chronic problem facing SMBs: that of delayed payments. The research finds that ineffective cash flow management, cited by 60% of SMBs as a major challenge, exacerbates the risk of business failure.

At the same time, only 5% of small business owners, or 1 in 20, have fully automated their accounts receivable (AR) and  accounts payable (AP) processes, despite the fact that doing so can provide them with the insights and growth opportunities they seek.

Automation is critical for reducing manual intervention in payment processes. Many SMBs still rely on manual invoicing and reconciliation, which is both time-consuming and prone to errors. By offering digital tools that automate these tasks, payment providers can help SMBs streamline their operations and reduce the friction that slows down transactions.

“Businesses are worried about the investment in terms of time and resources,” American Express Vice President of Marketing, Business Blueprint and Small Business Banking Brett Sussman told PYMNTS.

That’s why addressing the challenges that prevent SMBs from adopting digital solutions requires a multi-faceted approach. While traditional methods like ACH payments continue to play a crucial role in the SMB space, the rise of innovations like virtual card payments and the increasing demand for real-time digital solutions are reshaping the sector.

Still, many SMBs operate on legacy systems or basic accounting software, making seamless integration with new payment platforms essential.

Read more: 75% of Companies Still Use Paper Checks Despite High Cost

The Complex and Sometimes Conflicting Priorities of SMBs

The marketplace is continually responding the many-headed needs of SMBs.

As PYMNTS covered Tuesday, Ziina raised $22 million to provide FinTech services for UAE-based small businesses; while on Friday (Aug. 30) Brazilian FinTech Ume raised $15 million in a Series A funding round to expand its payment network and merchant services platform for SMBs on Pix.

And PYMNTS Intelligence finds that financial solutions like embedded lending are helping SMBs manage cash flow, invest in growth, and improve their overall financial health.

Embedded lending allows SMBs to access credit directly within the platforms they already use, such as eCommerce platforms, accounting software or payment processing systems. This eliminates the need for separate applications to banks or other financial institutions, saving time and reducing friction in the borrowing process.

Jennifer Marriner, EVP, Global Acceptance Solutions at Mastercard, told PYMNTS that SMBs are a significant focus within the embedded finance landscape. She noted that SMBs are particularly attracted to embedded finance as it offers a straightforward way to access financial services through the platforms that they already use for other business operations, such as accounting and inventory management.

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.

The post Small Businesses Tap FinTech Innovations to Close Big Digital Transformation Gap appeared first on PYMNTS.com.

As the landscape shifts, a PYMNTS Intelligence report, “End the Wait: SMBs and the Protracted Challenge of Delayed Payments,” in conjunction with American Express, poses a question: Could a new wave of digital transformation signal the end of this chronic delay?

Perils of Payment Delays

For SMBs, delayed payments are not just an inconvenience, but a severe threat to cash flow and operational stability. Nearly one-third of SMBs still rely on manual processes for ad hoc payments, which make up a significant portion of their revenue. BILL’s survey reveals that 46% of SMBs without automated accounts receivable (AR) software consider delinquent payments their top concern.

In the U.K., more than 25% of SMBs face up to £20,000 in overdue invoices, with 36% of payments arriving late monthly. This issue is also prevalent in North America, where less than one-third of SMBs have fully integrated payments into their management software. Ineffective cash flow management, cited by 60% of SMBs as a major challenge, exacerbates the risk of business failure.

FinTechs to the Rescue

Facing manual processing constraints, many SMBs are turning to financial technology (FinTech) solutions. Despite a forecasted 50% surge in payment volumes and a 46% rise in invoicing over the next three years, many SMBs remain saddled with outdated systems.

High costs and perceived complexity deter more than one-third from adopting automated solutions. But 64% are exploring tailored financial services through integrated software platforms. The shift toward cloud-based services is notable, with more than 80% of SMBs seeking these solutions to overcome inefficiencies.

Cash Management: Path Forward

The adoption of digital tools presents a pivotal opportunity for SMBs to enhance cash management. Currently, 32% of U.S. SMBs are using instant payment methods to expedite transactions, which coupled with increased accounts payable (AP) automation, represents a strategic shift toward streamlined processes.

Artificial intelligence (AI) is increasingly integral, with 83% of SMBs leveraging it for data analytics and financial management. Consider 73% are consolidating cash management tools into unified platforms to boost efficiency and gain financial insights.

Jason Carlson, CFO of Mood Media, underscores the urgency of digital transformation. “Timely payments are crucial for sustaining operations, especially for SMBs that lack financial reserves,” he told PYMNTS Intelligence. Carlson highlighted that outdated payment systems contribute to inefficiencies and errors. He advised SMBs to consider digital solutions, such as direct debit and credit card payments, and to choose banking partners that offer tailored services.

Embracing digital and integrated solutions can transform a critical vulnerability into a strategic asset, positioning SMBs for sustainable growth and success in the digital age. The future of SMBs lies in harnessing the full potential of digital and integrated solutions. By overcoming the challenges of outdated payment systems, SMBs can turn a critical vulnerability into a strategic advantage, positioning themselves for sustainable growth and success in the digital age.

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The collaboration, announced by the London-based UNIPaaS Tuesday (Sept. 3), will let small- to medium-sized businesses (SMBs), give customers the option of paying invoices with American Express (Amex) Cards through the UNIPaaS platform.

“Customer behavior shows that when payment options like American Express are offered, a significant share of customers choose this payment method, thereby increasing the speed and efficiency of business invoice payments,” the company said in a news release.‍

The release noted that UNIPaaS has processed millions of card transactions along with other payment methods for a range of B2B clients, optimizing its solutions for the needs of Software-as-a-Service (SaaS) platforms in industries such as HealthTech, accounting, education and mobility.

“This new partnership enables users of these SaaS platforms to easily accept American Express payments, catering to the many customers that prefer to pay with Amex,” the release added. “This integration simplifies the payment process, improves cash flow management, and enhances overall payment convenience and efficiency.”

PYMNTS spoke last month with Brett Sussman, American Express vice president of marketing, business blueprint and small business, about the challenges SMBs face in integrating digital payment options.

“Small business owners are using a variety of solutions,” he said. They may have seven-plus business apps in their back office, and they’re looking for a simpler and more efficient solution.”

While research by Amex and PYMNTS Intelligence found that a majority of SMBs want to consolidate their financial solutions into a single platform, many still rely on manual, analog-era cash management tools and processes.

“If you look back all the way to 2010, 67% of small business payments were made on cash or check or wire,” Sussman said. “You fast forward to 2022 and that number is 33% of payments. So really, the digitization of payments has taken off. But I would argue there is plenty of progress that still needs to be made,”

In other recent SMB news, PYMNTS wrote last week that these businesses are widely using instant payments across a variety of sectors. And for many SMBs, this has become their chief method of sending payments.

Research by PYMNTS Intelligence into four sectors — healthcare, hospitality, restaurant and transportation — shows that at least two-thirds of SMBs now send instant payments. In fact, roughly a quarter of these businesses point to an instant method as their most-used when sending payments.

The post Amex and UNIPaaS Team on Small Business Invoice Payments appeared first on PYMNTS.com.

Embedded lending is growing in popularity around the world. It offers convenient, streamlined access to financing for specific expenses from within merchant, business and other platforms. This proves especially impactful for individuals and microbusinesses and small businesses (MSBs) that want to better align cash flow and expenses.

In Australia, 13% of consumers and 11% of MSBs have recently used embedded lending, with much greater adoption among key segments. For example, 20% of millennial consumers have recently used this type of lending, as have 26% of small businesses.

However, embedded lending users widely experience friction that detracts from their experience. The biggest problem area is the application process. PYMNTS Intelligence’s research reveals other friction points that lenders need to address to enable this type of lending to reach its potential.

“The Embedded Lending Opportunity: Australia Edition,” a PYMNTS Intelligence report commissioned by Visa, explores the state of play in Australia for the consumer and MSB market segments. The report draws on a 360-degree study of lenders and end users, conducted between Jan. 13 and March 15, 2024.

Inside “The Embedded Lending Opportunity: Australia Edition”:

• What this type of lending is and how it differs from traditional lending products
• How the market in Australia compares to those in other major economies
• Which consumers and businesses are more likely to use this type of lending
• The critical role of cash flow stability in predicting demand
• The pain points consumers and MSBs experience when using this type of lending
• The obstacles that lenders in Australia face in rolling out these products
• The factors that predict how likely a consumer or MSB is to switch to a provider that offers this type of lending

Our research reveals that interest in this type of lending is strong in Australia. Lenders should reconsider their hesitations about developing embedded lending products.

This report includes crucial information for lenders looking to become market leaders in embedded lending. Download the report to learn more about what’s next in Australia.

The post Application Frictions Slow Australians From Adopting Embedded Lending appeared first on PYMNTS.com.

Traditionally known for serving only the largest clients, the bank has expanded its focus to include small- to medium-sized businesses (SMBs) with annual revenues between $10 million and $3 billion, the Financial Times (FT) reported Wednesday (Aug. 28).

Citigroup is targeting SMBs around the world, according to the report. Over the past two years, it has added commercial lending units dedicated to SMBs in Canada, France, Germany, Ireland, Japan and Switzerland.

In other efforts to boost its focus on SMBs, the bank named a half dozen new regional leaders and bought a stake in FinTech company Numerated to use that company’s machine learning models to manage the bank’s loan data, the report said.

Citigroup’s efforts in pursuing SMBs have been helped by its reorganization, which it said will enable it to do a better job of cross-selling; by regional banks being pressured by high interest rates and commercial property losses, which have limited their ability to lend; and by the increasing importance of technology in business lending, which favors larger banks that have the resources to meet that need, per the report.

While commercial banking clients now account for only $3 billion of Citigroup’s total annual revenue of $80 billion, the bank said it can double the size of that business by adding SMBs, according to the report.

Tasnim Ghiawadwala, global head of commercial bank at Citi, told the FT that with only a small investment, the bank can gain incremental revenue by providing its mid-sized corporate clients with the same services it provides to large companies.

Small businesses have often struggled to get financing, as banks generally favor bigger commercial borrowers.

The Small Business Administration (SBA) reported in 2023 that during the previous fiscal year, $8 billion worth of potential SBA loans went unused. While the SBA is authorized to guarantee up to $34 billion in loans each year, lenders issued $26 billion of loans during the year.

One-third of Main Street business owners surveyed said loan costs remain a concern in 2024, according to the PYMNTS Intelligence report “SMB Borrowing Dynamics: Trends, Tools and Decision Drivers.”

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The post Citigroup Aims to Double Commercial Banking Revenue by Targeting Small Businesses appeared first on PYMNTS.com.

The partnership is centered around Sezzle Capital, designed to help small- to medium-sized businesses (SMBs) get financing without sacrificing equity, according to a Wednesday (Aug. 28) press release.

The program is designed to offer “flexible funding” to SMBs in the United States, and there are plans to eventually launch in Canada. Sezzle Capital will enable these firms to access capital for a range of business purposes at a time when most SMBs are worried about finding funding.

“As we expand across the United States and Canada, we choose to work with partners who are preferred and trusted by small businesses,” said Liberis CEO Rob Straathof. “Working with Sezzle allows us to serve both their early-stage and mature business customers with fast and flexible funding through our platform.”

Access to working capital isn’t just a matter of convenience for SMBs, but a necessity.

“It underpins their ability to manage daily operations, respond to challenges, and seize growth opportunities,” PYMNTS wrote this month. “Without it, even a profitable business can struggle to survive, especially in today’s fast-paced and often unpredictable economic environment.”

A look at the U.S. government’s Small Business Administration (SBA) website illustrates this point, with the agency expecting substantial demand for its Working Capital Pilot (WCP) program, especially as many SMBs face challenges accessing traditional working capital loans.

For 2025 alone, the SBA project will approve around 270 WCP loans adding up to $337 million. The agency said half of that volume will be from loans that would have otherwise been approved as an SBA 7(a) Export Working Capital Program loan or SBA 7(a) CAPLines loan, and the other half will be new volume.

About 8.5% of SMBs said working capital loans from banks are readily available, according to the PYMNTS Intelligence report “What’s Next in Credit: Why SMBs Prefer Corporate Credit Cards for Short-Term Financing.”

“More than half of respondents said coming into 2024 that they would consider tapping new financing,” PYMNTS wrote. “Among those considering new financing, more than 26% would consider using an online lender and about a third would use a large national bank.”

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.

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Artificial intelligence (AI) is one tool that can help firms achieve that by giving them a competitive edge, streamlining thier operations and enhancing customer experiences. For instance, GoDaddy on Tuesday (Aug. 20) launched a new generative AI tool to help small- t0 medium-sized businesses (SMBs) with their business marketing.

“We know that digital marketing translates to business success, especially when coupled with generative AI technology,” GoDaddy said in a statement.

AI is no longer just the domain of large corporations with deep pockets and extensive tech teams. However, the ways that Main Street SMBs can unlock growth through strategic applications of AI looks a little different from the approaches being taken by their larger enterprise counterparts.

Smaller businesses are not just playing catch-up, though. From better access to working capital, to marketing and workflow automation, SMBs are leveraging AI in ways that are uniquely suited to their scale and operations.

In contrast to large enterprises, which might use AI to optimize global supply chains, SMBs are applying AI at a more localized level. A small auto repair shop, for instance, might use AI to predict which parts will be needed most frequently based on historical data, reducing the need for large inventories and ensuring that commonly needed parts are always in stock. Similarly, a local retail store could use AI to optimize staffing schedules based on customer foot traffic patterns, ensuring that they have the right number of employees at the right times.

The key to success for SMBs will be in how they choose to implement and integrate AI into their business models. By focusing on applications that align with their unique needs and strengths, Main Street businesses can use AI to drive growth in ways that are both sustainable and impactful, distinguishing themselves from larger competitors in the process.

Read more: SMBs Race to Critical Mass on AI Usage

The Future of AI for Main Street SMBs

SMBs, which typically include local retailers, restaurants, service providers and smaller manufacturers, face a different set of challenges and opportunities compared to large enterprises. These businesses often operate with limited resources, both in terms of capital and workforce, and are more deeply embedded in their local communities.

This local focus, coupled with a need for efficiency and personalization, has led SMBs to adopt AI in ways that are distinct from the large-scale, data-intensive implementations seen in bigger companies.

For small businesses, operational efficiency is critical to success. AI tools can automate routine and time-consuming tasks, such as data entry, inventory management and customer support. By automating these processes, small businesses can reduce the need for manual labor, minimize human errors and free up employees to focus on more strategic activities.

“Small business owners are using a variety of solutions. They may have seven-plus business apps in their back office, and they’re looking for a simpler and more efficient solution,” American Express Vice President of Marketing, Business Blueprint and Small Business Banking Brett Sussman told PYMNTS in an interview posted Aug. 15.

Recent research by PYMNTS Intelligence shows that 96% of SMBs that have used AI tools — though not necessarily generative AI — view it as an effective way to streamline tasks.

Read more: White House Working Capital Program Targets Small Business Stability Through 2027

AI-Driven Marketing for Main Street SMBs

SMBs benefit from the ability to quickly adopt AI tools that are specifically tailored to their needs. Unlike large enterprises that may require extensive customization and integration, many AI solutions for SMBs are designed to be plug-and-play, offering ease of use and quick deployment. This flexibility allows SMBs to experiment with different AI applications without significant upfront investment.

AI can help small businesses implement personalized marketing campaigns that resonate with specific customer segments, leading to higher engagement and conversion rates. AI-powered recommendation engines can suggest products or services based on a customer’s past behavior, increasing the likelihood of repeat purchases. Additionally, AI can enhance customer service by providing real-time support and predictive insights that anticipate customer needs before they even ask for help.

This is supported by findings revealed in “Innovators and Cost Cutters: Growth Strategies for SMBs,” a PYMNTS Intelligence report, which show that while 37% of SMBs on average use AI, 51% of those with increasing revenues use it. Businesses with increasing revenues, and those generating more than $1 million in revenue, are twice as likely to use AI as ones with decreasing or stable revenues.

SMBs with fewer resources appear to be less likely to understand the benefits of using AI, as 69% of those with decreasing revenues say they have never considered using it, per the report.

AI is also transforming how small businesses access working capital, offering more tailored, efficient and accessible financing options. For example, on Wednesday(Aug. 21), Lama AI and Bridge partnered to expand the availability of commercial loans. Financial institutions using Lama’s AI-powered origination technology will be able to access Bridge’s marketplace that connects business owners and lenders.

AI-driven algorithms can analyze a broader set of data points, including non-traditional metrics such as transaction history, social media activity and customer reviews, to evaluate an SMB’s creditworthiness.

The post The Top 3 Benefits Small Businesses Get From AI appeared first on PYMNTS.com.

Embedded lending is growing in popularity around the globe. It offers users convenient, streamlined access to financing without having to leave the platforms of merchants, businesses and other entities. This type of modern lending could be especially useful to microbusinesses and small businesses (MSBs) wanting to align their cash flow and expenses.

In Japan, however, consumers and MSBs tend to be cautious about and even adverse to using credit compared to other markets. This extends to embedded lending. Just 8.1% of the country’s consumers have used it in the last three months. MSBs were even more conservative, with just 5.3% having used it in the last year.

Considering the low credit use rates in Japan, these seemingly small shares of embedded lending adoption actually reflect significant momentum for these solutions. Yet, to drive further adoption, lenders will need to overcome some key frictions.

““The Embedded Lending Opportunity: Japan Edition,” a PYMNTS Intelligence report commissioned by Visa, explores the state of play for embedded lending in Japan for the consumer and MSB market segments. The report draws on a 360-degree study of lenders and end users, conducted between Jan. 13 and March 15.

Inside “The Embedded Lending Opportunity: Japan Edition”:

• What embedded lending is and how it differs from embedded finance
• How the market in Japan compares to other major world economies
• Which consumers and businesses in Japan are more likely to use it
• The role of cash flow stability in predicting whether a consumer or MSB will use it
• The frictions and pain points consumers and MSBs experience when using it
• The factors that predict how likely a consumer or MSB is to switch to a provider that offers these solutions
• The factors that lenders in Japan consider impediments to offering it

Embedded lending offers consumers and MSBs a highly convenient way to finance purchases without dealing with separate credit applications. Despite Japan’s historical hesitance around using credit, this type of lending has clear growth potential in the country.

This report includes crucial information for lenders looking to become market leaders in embedded lending. Lenders that can address pain points stand to profit. Download the report to learn more about what’s next for this type of lending in the Japanese market.

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And with the news from the National Federation of Independent Business (NFIB) Small Business Optimism Index released Tuesday (Aug. 13) that — despite ongoing cost pressures and macro headwinds — small and medium-sized businesses (SMBs) in the U.S. are feeling the highest level of optimism since February 2022, delivering the working capital products and financial services they need to thrive is top of mind for savvy lenders and financial players.

But it’s not just private sector players excited to capture the SMB opportunity while spurring Main Street growth. The U.S. government’s Small Business Administration (SBA) is getting into the mix, too.

On Aug. 1, the SBA launched a new category of loan under the SBA 7(a) Loan umbrella, the Working Capital Pilot (WCP) Program. The SBA WCP loan program is designed to provide small businesses with more flexible and accessible lines of credit and plans to address the needs of growth-oriented businesses that require working capital to fund projects or manage cash flow.

Small businesses often face irregular cash flow, where their income might not align with expenses. Working capital helps bridge the gap, ensuring that they can pay bills, purchase inventory, and meet payroll even during lean periods.

Comments for the program closed Wednesday (Aug. 14), and the WCP will run at least until the initial end of the authorization period, set for July 31, 2027.

Read more: White House Ramps Up Small Business Working Capital Offerings

Building a Competitive Edge With Working Capital Innovations

For small businesses, access to working capital is not just a matter of convenience; it’s a necessity. It underpins their ability to manage daily operations, respond to challenges, and seize growth opportunities. Without it, even a profitable business can struggle to survive, especially in today’s fast-paced and often unpredictable economic environment.

The SBA’s site stresses that the agency expects significant demand for its WCP program, especially given that many small businesses face challenges accessing traditional working capital loans.

For 2025 alone, the SBA estimates it will approve approximately 270 WCP loans totaling $337 million. Half of that volume will be from loans that would have otherwise been approved as an SBA 7(a) Export Working Capital Program loan or SBA 7(a) CAPLines loan, and the other half will be new volume, per the agency.

By participating in the program, the SBA notes that lenders can offer competitively priced lines of credit, helping small businesses expand, strengthening their operations and ultimately create more jobs.

Only about 8.5% of small and medium-sized businesses (SMBs) have found working capital loans from banks to be readily available, according to “What’s Next in Credit: Why SMBs Prefer Corporate Credit Cards for Short-Term Financing,” a PYMNTS Intelligence and Cross River collaboration.

More than half of respondents said coming into 2024 that they would consider tapping new financing. Among those considering new financing, more than 26% would consider using an online lender and about a third would use a large national bank.

See also: Embedded Lending Puts SMBs at Center of Financial Services Landscape

According to the SBA, the agency’s own evaluation of the working capital program’s success will include, but will not necessarily be limited to, the number of WCP loans approved, the adoption rate (number of lenders making WCP loans), a comparison of number of loans approved and adoption rate versus the same in 7(a) CAPLine and EWCP programs and among the top SBA Lenders, whether the costs (including losses) of the pilot are within an acceptable range, and portfolio performance as it relates to other 7(a) programs.

“Small business owners are using a variety of solutions. They may have seven-plus business apps in their back office, and they’re looking for a simpler and more efficient solution,” American Express Vice President of Marketing, Business Blueprint and Small Business Banking Brett Sussman told PYMNTS in an interview posted Thursday (Aug. 15).

And as covered here, the SMB lending market is heating up — with the most recent earnings season revealing that companies are increasingly focused on the segment.

The demand comes as the PYMNTS Intelligence report “Main Street Small Business Growth Exceeds GDP for First Time in Two Years” found Main Street small and medium-sized business (SMB) growth has exceeded gross domestic product (GDP) growth for the first time in two years. That expansion would feed into plans to tap working capital to keep expanding.

The post White House Working Capital Program Targets Small Business Stability Through 2027 appeared first on PYMNTS.com.

This software-as-a-service (SaaS) platform includes accounts payable (AP) and accounts receivable (AR) solutions together with online invoice generation tools with embedded payment links, the company said in a Tuesday (Aug. 13) press release.

“Our platform not only simplifies invoicing but also accelerates the payment process, ensuring that SMBs have the cash flow they need to grow and succeed,” Bill Cooper, founder of Invoiv.com, said in the release.

The platform is designed to integrate seamlessly with the user’s existing business workflows, to be easy to use and to provide the user with full visibility into cash flow via a dashboard, according to the release.

Its online invoice generation tools help businesses create and send professional invoices in minutes, and the embedded payment links in those invoices make it easy for customers to pay quickly and securely, the release said.

By leveraging these solutions, businesses can get paid up to five times faster, per the release.

“At Invoiv.com, we understand the challenges that SMBs face, especially when it comes to getting paid on time,” Cooper said in the release. “Our goal is to eliminate those pain points and provide a solution that’s both effective and affordable.”

SMBs are under pressure to modernize their financial operations at a time when inflation is pressuring margins and payment delays are becoming more common, according to the PYMNTS Intelligence and NCR Voyix collaboration, “The $150B Question: Can Community FIs Capture the SMB Digital Banking Opportunity?”

Seeking remedies for their cash flow pain, over 70% of SMBs are interested in comprehensive cash management services, and 90% demand seamless payment options, the report found.

In May, embedded payments technology company VoPay debuted a platform designed to help banks and credit unions launch “API-first transaction banking and cash management services.”

In April, French FinTech Payflows emerged from stealth and said it raised $26 million for its all-in-one platform for finance teams. The company said it “built a suite of procurement, payments, cash management and cash collection modules which are best-of-breed in their category and combined into an all-in-one platform.”

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.

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