SMB Payments Solutions Spending Plans

What is the SMB budget outlook for payments solutions, and what kinds of solutions do they plan to invest in? To find out, we recently surveyed 500 U.S. small and midsized business (SMB) principals 

Of very small businesses (VSBs, with 1-19 employees), about a third will increase spending on payments solutions this year. Most (three in five) plan to keep their payments budget flat. 

Larger SMBs are more likely to boost spending. Two thirds of small businesses (SBs, with 20-99 employees) and midsized businesses (MBs, with 100-500 employees) anticipate increasing their payments solutions budget this year.

SMB Payments Solutions Budget Outlook

So what payments solutions will SMBs whose budgets will increase invest in? Invoicing applications that let customers pay invoices online, such as FreshBooks or QuickBooks, top the list. E-commerce systems like Shopify or WooCommerce are second, followed by POS systems.

SMB Payments Solutions Investment Plans

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