The Strawhecker Group (TSG) and the Electronic Transactions Association (ETA) surveyed over 500 U.S. SMBs in April to understand how the COVID-19 pandemic is currently impacting SMB operations and payments acceptance, and how the market compares to April 2020.
Read some highlights below and download the full 35-page report. The report helps the payments industry understand how to best support the SMB community as they continue to manage the pandemic, while moving towards a goal of greater recovery.
- 30% of U.S. SMBs have felt somewhat or very supported by their payment processing provider over the past year
- 43% of businesses currently think digital payments are either somewhat or much more important now then prior to the pandemic
- 34% of respondents currently are seeing an increase in contactless payment use – a 7% increase over last year
- An increase in debit card use is reported by 16% more businesses in today’s climate than in April 2020
- 18% of SMBs reported experiencing more attempted fraudulent payments in 2021, compared to 19% in 2020
- 15% of SMBs added an eCommerce store since the pandemic started
TSG Can Help
This data is an example of the type of actionable research and data TSG can prepare based on your needs. Whether it is strategy, research, analytics, or performance we can help. Contact us today to discuss your needs.