Paper checks remain a way of life for some of the businesses where banks have the most room to convert supplier payments. Small- to medium-sized businesses (SMBs) operating for at least 20 years made 54% of their vendor and supplier payments by check, the PYMNTS...
The next big opportunity in small-business lending is the same as the last big opportunity. It is serving the smaller market and credit-thin business borrowers that banks have spent decades struggling to serve profitably. In a new November joint release, the Federal Deposit Insurance Corporation...
FinTech Bilt is expanding beyond the home and out into the neighborhood. The company, which made its name by offering rewards to consumers for rent payments, on Tuesday (Nov. 10) announced the launch of its Bilt Neighborhood operating system. The artificial intelligence-powered platform is designed...
The United Kingdom arm of banking giant HSBC is turning to Stripe to power a new tap-to-pay offering, according to a Tuesday (Nov. 10) news release. Eligible HSBC U.K. small business customers can accept supported contactless payments on a compatible smartphone, with no need for...
Fiserv is bringing artificial intelligence (AI)-powered eCommerce capabilities to Clover, giving small businesses a faster way to establish an online presence and compete for customers increasingly using AI tools to discover and buy products. The launch, announced Tuesday, (Nov. 10) signals a broader shift in...
America’s smaller retailers could be facing a tough holiday season due to high shipping costs. That’s according to a report Friday (Nov. 6) from CNBC, which noted that while consumer demand is strong, these business owners worry that rising shipping costs—driven by increasing fuel prices—will...
Artificial intelligence is creating a new competitive question for small businesses. What happens when revenue can grow without payroll growing alongside it? The PYMNTS Intelligence report “New Data Shows Small Businesses Use AI to Grow Without Hiring,” part of the SMB Growth Monitor, found in...
Some of the U.K.’s digital lenders to small businesses have reportedly reached profitability more quickly than consumer-focused FinTechs. That’s according to a report Thursday (Oct. 15) by the Financial Times (FT), which said this trend comes as small- to medium-sized businesses (SMBs) turn to these...
A small business can have a warehouse full of merchandise, a growing order book and packages moving toward customers, and still struggle to qualify for financing. The problem isn’t that the business lacks money-making potential. It’s that traditional underwriting can struggle to distinguish between the...