MINNEAPOLIS--(BUSINESS WIRE)--The speed in which new payment solutions are being introduced is unprecedented. Are small businesses and middle market companies adopting these innovative options as quickly?
Barlow Research answers this critical question in their newest initiative, published today: The 10 Truths of Business Payments. This study reveals insight into the payment behaviors, attitudes and processes of small business and middle market customers.
Strategists and product managers at financial institutions and payment solution providers will find actionable information on: adoption rates of the fastest growing payments innovations and target markets for payment products based on industry verticals and company sales size.
This is key information in a current environment where checks still dominate and intentions to move away from paper-based payments appears to be a difficult transition for many businesses. In the words of one respondent:
“If it's just a one-time thing, I usually just send a check and I'm done with it. I don't want to go to the trouble of setting up a wire or online bill pay, and if I don't really know the company that I’m paying well, I probably won't call with a credit card number.”
Over 100 analytic charts sourced from Barlow’s voice of the business customer primary research data illustrate payment type usage, credit and debit card growth, coin and currency practices, methods used by businesses to track and control their money and concerns about fraud.
About Barlow Research Associates, Inc.
Barlow Research Associates, Inc. was founded in 1980 to provide research to the financial services industry. With a focus on the business banking segments, Barlow Research provides custom and syndicated solutions to the market research needs of banks and Fintech providers.