AI, Biometrics And More: 2025 Payment Predictions For SMBs
Jan 28, 2025 - forbes.com
The article discusses the evolving landscape of payment systems for small and medium-sized businesses (SMBs) in 2025, highlighting several key trends. Vertically integrated payment systems are expected to grow, offering SMBs a comprehensive solution for managing payments and finances. Payment agnosticism will become the norm, with businesses accepting various payment methods like Venmo and PayPal. Cryptocurrency will gain traction among SMBs as they become more comfortable with digital currencies. Despite global growth in biometric payments, the U.S. will lag due to consumer skepticism. AI will continue to be embraced by SMBs for fraud detection and customer service, while vigilance in data security will remain crucial due to frequent breaches.
The article also notes an anticipated increase in SMB openings as economic challenges ease. Self-checkout systems will expand beyond grocery stores to other SMBs. Overall, the article suggests that 2025 will bring more choices and opportunities for SMBs, enabling them to compete more effectively with larger businesses. The integration of technology in payment systems will allow SMBs to focus on their core mission of serving customers and pursuing their passions.
Key takeaways:
Vertical integrated payment systems will continue to grow, providing SMBs with a comprehensive solution for managing payments and other business functions.
Most SMBs will become payment agnostic, offering customers a variety of payment options including Venmo and PayPal.
SMBs will adopt cryptocurrency as they become more comfortable with its use and potential benefits.
AI will play a significant role in SMB operations, helping with fraud detection, customer service, and real-time decision-making.
