Small Business Payments Spotlight

2017 report shows that with so much at stake, small businesses must adapt to changes in the ways customers shop and pay

Bank of America Merchant Services, a global leader in payments, eCommerce and security1, commissioned Forrester Consulting, one of the most influential research and advisory firms in the world, to conduct a study of payments-focused attitudes and behaviors among U.S. small business owners and consumers.

Topics addressed in the inaugural Small Business Payments Spotlight include merchant and consumer sentiments towards point-of-sale and digital payments, cash, eCommerce, security and more.

Among the notable findings:

  • 48% of consumers carry less cash than they did five years ago, but 38% of small businesses have not changed the types of payments they accept in the past five years.
  • 53% of consumers are shopping online more than ever, yet only 44% of small businesses operate an eCommerce website.
  • Consumers aged 18 to 29 and over 65 are the most likely to never trust a small business again following a data breach affecting that merchant.

As the trusted payments provider for hundreds of thousands of small businesses across the U.S., Bank of America Merchant Services is pleased to share with you valuable insights in the Small Business Payments Spotlight.

Read the report and check out the infographics below to explore what hundreds of small businesses and consumers have to say about payments today and tomorrow.

Fill out this simple form and we’ll get back to you.

*Asterisk indicates required field.

By submitting this form, you authorize Bank of America Merchant Services to contact you at the telephone number or email provided here, even if you've previously registered on a Do Not Call registry or requested that we not send you marketing information by email. You agree Bank of America Merchant Services may use an auto-dialer to reach you. You understand that you are not required to consent to receiving autodialed calls/texts as a condition of purchasing any Bank of America Merchant Services products or services. Any cellular/mobile telephone number you provide may incur charges from your mobile service provider.

Information you send to Bank of America Merchant Services is encrypted through Secure Socket Layer (SSL) technology. This technology encodes information that is sent over the internet between your computer and Bank of America Merchant Services, helping to ensure that the information remains confidential. After you’ve submitted your information offline, we recommend that you end your browser session before leaving your computer. The use of SSL requires that you have an SSL compatible browser.