Digital Payments
Small and medium businesses are a mainstay of the economy, and they are leveraging digital payment systems and other technology tools to power their businesses.
Small and medium businesses are central to continued economic growth and resilience and play important roles in their local communities. Digital payments, a broad set of tools that facilitate the electronic transfer of funds, and digital technologies in general are an engine that helps to power small businesses worldwide. This report explains why small businesses are so important, how digital technologies are helping them, and what policymakers can do to help small businesses harness this powerful tool.
Drawing on a survey of over a thousand SMBs, interviews with SMB leaders, and insights from policy experts, this report highlights the benefits of digital payments and other technologies for SMBs, pinpoints persistent barriers, and offers actionable recommendations for policymakers to strengthen the digital business environment.
Polling of 1,014 small business leaders, conducted by Morning Consult in partnership with Global Innovation Forum and Block, finds small and medium-sized businesses (SMBs) across the U.S., European Union, and Australia see digital payment systems as essential to their growth and competitiveness, but face barriers integrating them across markets.
Small Business Stories
14 small businesses from around the world told us how digital platforms and payments are instrumental in their local and global growth and success. Below are the stories of their businesses and how they are using digital tools.
