For small businesses, access to credit is, in many cases, available. The problem is that many of the products offered do not reflect how those businesses operate. PYMNTS Intelligence, in tandem with Mastercard, found this month that credit cards are evaluated less on borrowing capacity and...
Business payments are poised for modernization as the entrenched position of cash and checks will be whittled down by digital, flexibility methods of small business payments. The February PYMNTS Intelligence report with Mastercard, “Ready for Change: Why Nearly Half of SMBs Want to Ditch Cash...
Goldman Sachs wants U.K. small businesses to embrace artificial intelligence. The banking giant held a gathering last week in Birmingham to instruct small businesses on the dangers of ignoring AI, Bloomberg News reported Saturday (March 28). “We have a situation where global behemoths are swallowing...
Small businesses may be sending a clear signal to card issuers: stop selling access and start selling usefulness. A new PYMNTS Intelligence report suggests many small- to medium-sized businesses (SMBs) already feel confident they can get credit. What they want now are cards that work...
Small- to medium-sized businesses (SMBs) have spent decades navigating a banking system that never quite fit their needs, placed between consumer and commercial segments and rarely the focal point of either. Wendy Cai-Lee, CEO of Piermont Bank, described that dynamic in direct terms. “Every couple...
Worth raised $30 million in a Series A funding round for its platform that helps financial institutions, FinTechs and payment providers onboard and underwrite small and medium-sized businesses (SMBs). The company will use the new funding to refine its existing technology, introduce Know Your Agent...
Watch more: Need to Know With Mastercard’s Mark Barnett The most digital generation in history is running a surprising share of its businesses the old-fashioned way: with cash in hand. “The fact that 52% of the payments that Gen Z SMBs make are in cash...
Mastercard has introduced an agentic AI offering designed to help small businesses. The company’s Virtual C-Suite, announced Tuesday (March 10), is a collection of artificial intelligence (AI) agents that serve as a “digital executive” to help with things like finance, security and marketing. “Small businesses are the cornerstones...
Cash retains a stubborn presence in small- and mid-sized businesses, but business credit cards are beginning to erode that dominance by addressing the operational pressures that keep firms tied to currency and paper. The findings come from “Ready for Change: Why Nearly Half of SMBs...