SME Digital Payments
New opportunities to optimise in the paytech revolution
Small 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).
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, referred to as the “Paytech revolution”.
This report delves further into the Paytech revolution and draws on several quantitative and qualitative research efforts conducted domestically and internationally.