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And more than two-thirds of SMBs (67 percent) have launched something to meet that need — whether an eCommerce site or a switch in their point-of-sale (POS) technology to contactless. But Visa’s Kevin Phalen told Karen Webster in a conversation about the Back to Business study that none of that is surprising.
Turn the clock back a year and the world for smallbusinesses was very different on the eve of the 2019 holiday-shopping season. According to Ingo’s data, only 37 percent of smallbusinesses were citing cash flow as a major concern, down from more than 60 percent two years earlier. Making The Move To Modernization . .
Deluxe has a new agreement with Fiserv to provide an updated payment platform, which will allow customers to use the Clover point-of-sale (POS) platform, new online and physical payment options, and gift card options, according to a press release. Clover is available through Deluxe’s new SmallBusiness Solutions Center.
Cole said there continues to exist the “COVID-related phenomenon that’s happened to smallbusinesses all over the country. Companies have had to adjust their inventory management practices, and in many cases amid lockdowns and shutdowns have had to look for alternative vendors.
The first half of 2020 was a tough time to run a smallbusiness on Main Street as stay-at-home orders closed down restaurants and retailers for much or all of the past five months. That left small and medium-sized businesses (SMBs) scrambling to rapidly switch to digital to keep at least some revenue coming in.
Interestingly, smallbusiness formation is at a multi-year high, as estimated by the Census Bureau. SmallBusiness Solutions Matt Baker , Zoku Sushi CEO Charlie Yi and The Better Box owner Tamekah Bost said that innovations – particularly payments innovations – are helping to position them for a digital-first, and brighter, future.
In commentary tied to his own firm’s fourth-quarter earnings, Bank of America CEO Brian Moynihan stated that “through the trillions of dollars of consumer transactions we process and from the steady confidence and activity of our smallbusiness and commercial clients, we see a healthy consumer and business climate driving a solid economy.”
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