Paysafe: In-Store SMBs See Reduced Checkout Times as Key to Growth
11 Januar 2023 - 2:51PM
Business Wire
New study reveals more than half of
brick-and-mortar small and medium-sized businesses in the U.S. are
optimistic about the 2023 outlook, and 70% prioritize integrating
new payments technology
Four in five (80%) SMBs (small to medium-sized businesses)
consider payments and a seamless checkout experience as critical to
growth. New research among 200 U.S. brick-and-mortar SMBs
commissioned by leading payments platform, Paysafe (NYSE: PSFE),
revealed that 69% of merchants want to reduce the time their
customers spend at the checkout. 70% of them also want to
prioritize integrating new payments technology in-store to enhance
customer experience.
When asked about how they expect their business to perform in
2023, most in-store retailers, as well as restaurants and other
service providers, were optimistic with more than half (56%) saying
“better than 2022” and only 9% fearing a worse year ahead.
Many brick-and-mortar merchants expanded their digital presence
during the pandemic and cited it as important to driving growth:
73% of brick-and-mortar merchants surveyed already have an online
presence, whereby consumers can pay for products or services
online. And 62% agree that an online presence is critical to their
business surviving and thriving in the future – whether that’s
making connections on social media, offering promotions, or virtual
checkouts.
Among the findings, SMBs confirmed the importance of payments
and the checkout experience for their businesses’ overall strategy:
86% agree that they are important for retaining existing customers
and 82% for attracting new customers. Also, 79% consider payments
and the checkout key for managing expenses, 79% for reducing costs,
76% for competitive differentiation, and 68% for entering new
markets.
Merchants indicated an interest in new payments technology.
While fixed terminal card readers are still the most popular type
of payment equipment currently present at in-store checkouts (65%),
many merchants are looking to implement more modern systems within
the next two years. For example, 49% want to offer
smartphone-driven systems, such as QR codes, which allow customers
to scan and pay for items on-site using their phones, and 42% plan
to offer apps where customers can automatically pay for goods and
services ordered.
Afshin Yazdian, President of Merchant Solutions at Paysafe,
commented: “We were happy to see that most merchants are optimistic
about the year ahead and that they appreciate the contribution that
payments can make to the overall customer experience and ultimately
as a key differentiator for their businesses’ growth.”
The survey was conducted as part of Paysafe’s Lost in
Transaction research series. For additional key takeaways from the
research, as well as further analysis, download the full report:
Lost in Transaction: The US in-store business payments outlook for
2023.
About the research
In October 2022, Paysafe commissioned a survey of 200
brick-and-mortar small-to-medium-sized businesses in the U.S. to
understand the payment importance in their business management
activities, explore payment trends, and observe their expectations
around 2023. Some of the findings were also compared to previous
Paysafe studies, providing insight into trends.
About Paysafe
Paysafe (NYSE: PSFE) (PSFE.WS) is a leading payments platform.
Its core purpose is to enable businesses and consumers to connect
and transact seamlessly through industry-leading capabilities in
payment processing, digital wallet, and online cash solutions. With
over 20 years of online payment experience, an annualized
transactional volume of over US $120 billion in 2021, and
approximately 3,500 employees located in 10+ countries, Paysafe
connects businesses and consumers across 100 payment types in over
40 currencies around the world. Delivered through an integrated
platform, Paysafe solutions are geared toward mobile-initiated
transactions, real-time analytics and the convergence between
brick-and-mortar and online payments. Further information is
available at www.paysafe.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230111005256/en/
Nilce Piccinini, Director, Corporate Communications, Americas,
Paysafe nilce.piccinini@paysafe.com Phone: +12818955954
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