State of Small Business Payments 2020

WePay shares new survey findings about key challenges small business owners face when it comes to payments and their attitudes toward the financial industry overall.

These insights help inform independent software vendors (ISVs) and Software-as-a-Service (SaaS) platforms how to best offer integrated payments solutions to small businesses, saving them time and money.

Report Highlights
  • 39% still spend 5 hours or more per week dealing with payments issues
  • 61% of respondents increased their technology spend in the past 2 years
  • 77% of companies with more than $1 million of annual revenue would consider working with a solution from a bank and an ISV
WePay surveyed 1,000 U.S. small business owners across a number of industries and age ranges in February 2020.