Businesses want more choice for their customers at point-of-sale and more options for their back-office payments to suppliers and vendors, such as e-transfers, e-wallets and digital currencies. Most importantly, small businesses want their payments to be safe and secure.
Key findings from the survey include:
81% of those surveyed are willing to integrate new technologies into their operations. Newer businesses are even keener, rising to 88% for those in operation 10 years or less.
61% would be willing to move away from cash, if they had other options.
67% would be willing to move away from cheques, if they had other options.
54% of businesses believe they are spending too much time on payment processing activities.
87% of small business owners think it is important that the payments industry continues to evolve.
The survey, entitled The Payments Pulse: Small Business Edition, was undertaken by Leger Marketing and Payments Canada between December 29, 2017 and January 10, 2018 and surveyed 303 Canadian small business owners.
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