Over 80 percent of Canadian small businesses want more payment options

Friday 16 March 2018 10:38 CET | News

A new survey conducted by Payments Canada has revealed that small businesses in Canada are ready for more payment options.

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.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Canada, payment methods, Payments Canada, The Payments Pulse: Small Business Edition
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce

Industry Events