Unlocking success through tailored SMB propositions

• What are the main pain points of SMBs when making B2B payments?
• How do SMB payments needs differ across different verticals, and what are the payment channels they predominantly use?
• Why is tailoring SMB propositions to specific sectors crucial for issuers, and what are the commercial outcomes that can be driven through verticalisation?
• What are some of the successful use cases of issuers tailoring SMB propositions? And how can financial institutions learn from these to optimise their positioning, acquisition channels and customer engagement?

SMBs and their payments-related needs present an opportunity of untapped potential for issuers. The B2B payments market is expected to grow from $1.7 billion in 2023 to $4.2 billion in 2033 – and SMBs are a valuable segment of this market share. However, their payments needs often differ from larger organisations, and issuers can benefit immensely from understanding how and why.

SMBs in the agriculture, manufacturing, or construction sectors specifically have vastly different payments needs than SMBs in other verticals. Issuers can optimise their propositions by understanding the payments pain points of these customers, and tailor their offering accordingly.

For example, adapting repayment terms and lending capabilities to match often volatile production cycles for farmers could significantly help issuers boost customer engagement in this vertical. There are dozens such use cases that issuing financial institutions can take advantage of, but first they need to understand the underlying payment needs and pain points of SMB customers across different verticals.

Register for this Finextra webinar, hosted in association with Visa, to join our panel of industry experts who will discuss payment needs of SMB verticals, the benefits of verticalisation, and how issuers can create the use cases to effectively tailor their propositioning to these customer segments.