The past few years have been full of challenges for small- to medium-sized businesses (SMBs). “It is definitely a perfect storm, and not in a good way,” Anthony Peculic, head of BaaS and Card, FinTech Banking at Cross River, told PYMNTS. “Small businesses at this...
The world of payment processing plays a crucial role in the operations of small- to medium-sized businesses (SMBs). That payment processor landscape, particularly for Main Street SMBs, is “saturated but competitive,” Charles Zhu, vice president of product at Enigma, told PYMNTS. When discussing payment processors in the...
Uplinq Financial Technologies has partnered with Ernst & Young (EY) to introduce credit lending to small and medium-sized businesses (SMBs). Using advanced analytics and Uplinq’s decision-making modules, the integrated solution aims transform the lending landscape, the companies said in a Wednesday (Oct. 18) press release. Mario Schlener, EY partner...
The competition in the payment processor market is fierce because of the success of incumbent leaders, as the majority of Main Street small to midsized business (SMB) retailers are satisfied with their current processors. However, there are opportunities to make a mark with lower transaction...
European small business lender iwoca says it has raised $243 million in new funding. The financing, announced late Monday (Oct. 16), follows the $152 million the London-based company raised in January to meet a rising demand for working capital among small- to medium-sized businesses (SMBs). “We started iwoca...
Mastercard has partnered with Bizom, a retail intelligence platform, to provide a comprehensive digital supply chain financing solution to micro retailers and distributors in India. This collaboration aims to address the challenges faced by small retailers and distributors in the consumer packaged goods (CPG) industry, including supply...
Small- to medium-sized businesses (SMBs) on Main Street are finding a dearth of options when it comes to getting the money they need to stay in business. PYMNTS Intelligence found that more than half of SMBs — 53% to be exact — have “no current...
Access to business financing remains a significant challenge for small- to medium-sized businesses (SMBs), with many finding it increasingly difficult to secure traditional funding from banks. According to data from a recent study conducted by PYMNTS Intelligence and Cross River, the share of SMBs that...
Smaller firms feel the credit crunch — and are likely to pivot to new avenues of financing. PYMNTS Intelligence shows that six in 10 smaller firms are denied funding through traditional conduits: loans issued through financial institutions. In tandem with those denials, it turns out...
