| Sage wants you to be aware of critical changes in the payment processing landscape that are shifting the way small businesses make and accept payments. Checks and credit cards continue to be the #1 form of payment, SMBs need to ensure they are on board. In a recent study conducted by the Synergistics Research Corporation, the Small Business Payment Market study provides strategic insights to help payment providers serve their customers better and seize new market opportunities. |
| Here are just a few of the key findings: |
| Credit cards and checks still rule - Credit Cards and paper checks continue to be the most preferred methods for purchases and accepting payments by small businesses by a wide margin. Providers should plan to support the traditional payment forms for some time to come. |
| Security dominates concerns - Not surprisingly, when it comes to both accepting and making payments, the number one concern identified by small businesses is security and data privacy issues. Providers should address this issue when dealing with small business owners. |
| Opportunity exists for online bill payments - Small businesses pay a mean average of 19.6 bills per month. Providers should emphasize the reduced costs (no stamps, paper, printing, etc.), savings in time and easier record keeping offered by online bill payment. |
| e-Commerce activity high among small businesses - Nearly nine in ten small business respondents to the Survey report purchasing goods and services over the Internet. Providers should leverage opportunities to become more involved in e-commerce activity, both in terms of making and accepting online payments. |
| Sage is committed to meeting the needs of your customers. To find out more about our ISO Partner Program, contact us at 888-760-0945 or Click here. |
| © 2016, The Sage Group plc or its licensors. All rights reserved. Sage Payment Solutions, Inc. All rights reserved. Sage, the Sage logos, and all product and service names are registered trademarks or trademarks of Sage Software, Inc., or its affiliated entities. All other trademarks are the property of their respective owners. Sage Payment Solutions is a registered ISO of Wells Fargo Bank, N.A., Walnut Creek, CA. Sage Payment Solutions is a registered ISO/MSP BMO Harris Bank N.A |
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