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New Data: Inside Main Street SMB’s Digital Shift

PYMNTS

Businesses that did not have online shopping channels were unable to sell their products, and restaurants that did not offer online ordering for pickup or delivery could not serve their customers. Confronted with the option, most SMBs chose to innovate. Our study finds that 33.4 Meanwhile, 16.9 percent and 13.9

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The State Of Main Street In 2020’s Second Half

PYMNTS

The first half of 2020 was a tough time to run a small business on Main Street as stay-at-home orders closed down restaurants and retailers for much or all of the past five months. That requirement of rapid change left many Main Street merchants deeply shaken and worried about their futures.

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Why Main Street SMBs Are A Greenfield For InsurTech

PYMNTS

Insurance may not be the most flashy or exciting of industries, but its continued reliance on paper and inefficient underwriting processes makes the market a prime target for technology disruptors. “I thought, surely, this would all have gone digital, and that I could go online and buy a policy in five minutes or less,” he said.

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Commercial Card Innovation Puts SMBs In The Spotlight

PYMNTS

Smaller companies were the focus of innovation in the commercial card space this week thanks to new cards designed for small and medium-sized businesses (SMBs). This week’s commercial card innovation tracker includes the launch of business cards by American Express and Amazon in addition to one by Wyndham Hotel & Resorts and Barclays.

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What Innovators Can Learn From Netflix

PYMNTS

But the one thing that might work is taking a page from the innovation playbook that Netflix seems to have written and followed over the last 22 years. The growing popularity of DVD rentals in the early 2000s introduced more competition into the market, making them more affordable for more consumers. I Don’t Want To, But I Have To’.

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eBay: Offline Payment Preferences Are Changing Online Habits

PYMNTS

The pandemic is proving to be a tough loyalty test for retailers, as they are competing for customers’ attention in an environment where competition is still present in both online and in stores. One recent study found that 51.7 They are beginning to value placing more emphasis on being able to pay however they like, for example.

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Retail Innovation Has Changed — Can SMBs Keep Up?

PYMNTS

percent of retailers have said they innovate to improve customer loyalty. That, in fact, is one of the main findings in the new Retail Innovation Readiness Index from PYMNTS, powered by FinTech firm AEVI. Things have changed, though, he said — one reason why that innovation finding carries such weight. “I