As small businesses (SMB) expand and scale across the globe, they face new competition and pressure to digitize and accelerate payments. This market map looks at companies providing small businesses with solutions across the payment value chain.
In the face of an uncertain economy, small businesses need digital payment solutions that enable them to expand and scale across the world.
Thirty-seven percent of financial institution executives state that digital payment solutions are not as effective in addressing B2B challenges faced by SMBs, according to PYMNTS. These challenges include fraud risk reduction, enhanced cash management capabilities, accounts receivable (AR) or accounts payable (AP) efficiency, and cross-border payments.
Startups are emerging to address these issues, creating solutions to help SMBs streamline cash flow and invoice payments (Melio), payment collection (GoCardless), international invoices (Airwallex), and more.
Using CB Insights data, we identified 105 payment companies addressing 8 technology priorities for small to medium-sized business leaders, from payment APIs & infrastructure to crypto payments to fraud prevention.
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