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Insights and Expertise

Help SMEs lead in This is where your role becomes critical. Merchants aren't
just buying payment tools; they're looking for trusted
the next era of guidance.
Mind the gaps: infrastructure, cost, expertise
transactions Here are three recurring challenges SMEs face:

• Legacy infrastructure: SMEs may be running on
outdated systems, missing out on real-time pay-
ments, mobile integration or advanced fraud protec-
tion. Such setups can lead to delayed settlements,
lost sales and frustrated customers.
• Cost and risk aversion: For businesses operating
on tight budgets, investing in modern platforms
can feel risky. Subscription fees, hardware updates
and staff training add up. In uncertain economic cli-
mates, deferral often seems safer.

• Lack of specialized expertise: SMEs are unlikely
to have dedicated fintech experts on their team. In-
stead, generalists handle a range of roles, from mar-
keting to IT, making it challenging to assess new
payment solutions or figure out where to begin.

You can bridge these gaps with targeted advice, realistic
By Melinda Roylett implementation plans and context-aware recommenda-
tions.
Lloyds Merchant Services
Tools that elevate SME payment strategy
ver the past five years, the payments land-
scape has undergone a seismic shift more The good news? Payment innovation is more accessible
dramatic, some argue, than the previous five than ever. As their consultant, you can steer clients toward
O decades combined. It's no longer just about practical, scalable solutions:
processing transactions. Payments now play a central role
in customer experience, digital strategy and operational • Omnichannel and mobile-friendly setups: Ensure
agility. merchants can accept payments wherever customers
are - mobile, desktop or wearable devices.
If you work as a Payment Service Provider, ISO or • Real-time payments and account-to-account trans-
merchant level salesperson, you serve as a consultant and fers: These not only improve cash flow but reduce
strategist, not just a service provider. You're a consultant, reliance on credit.
a strategist and often the first line of advice for small and
midsize enterprises (SMEs) trying to navigate this rapidly • Virtual cards for B2B transactions: Offer better
evolving environment. To serve your clients effectively, spend control, quicker reconciliation and reduced
understanding the pain points and opportunities they fraud risk.
face is essential.
• AI and analytics tools: Help SMEs understand their
SMEs at a crossroads transaction data to improve pricing, inventory and
Small and midsize businesses are dealing with heightened marketing, without needing a full analytics team.
consumer expectations and tightening margins. In today's Many platforms now offer plug-and-play solutions
omnichannel world, customers want fast, intuitive and
secure checkout experiences whether they're shopping specifically designed for SMEs, making implementation
far easier than even a few years ago.
online, in-store or over the phone.
Making the case with context
However, our research shows that only 27 percent of
SMEs feel confident in their current payment setup, and It's not just about showcasing features, but aligning those
nearly half haven't upgraded their systems in two years. features with each merchant's business goals and customer
This means many merchants fall behind just as customer expectations.
expectations surge.

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