SMEs and digital payments: a transformative shift

The global landscape for small and medium-sized enterprises (SMEs) is undergoing a significant transformation, particularly in how they engage with digital payments. A remarkable projection suggests that global GDP could expand by 75% within the next five years, largely fuelled by advancements in digital finance and embedded payment solutions. According to Daniel Artin at Boost Payment Solutions, the volume of embedded B2B payments is currently around $2.5 trillion, with expectations of growth to $6.5 to $7 trillion in the coming years. This rapid expansion highlights the crucial role of embedded payments for businesses of all sizes, enabling them to enhance operational efficiency, reduce costs and bolster financial resilience. For smaller companies, the shift towards embedded payment systems provides real-time cash flow insights that are vital for maintaining day-to-day operations. In turn, larger firms benefit from reduced payment cycles, streamlining their workflows and fostering b…