SME Payments opportunities crystallised by digitisation

A select group of payments professionals came together at the Emerging Payments Association Asia Roundtable held at EY’s Sydney offices on 22 February 2023 to discuss –

• How over 1 million Australian SMEs with 1-199 employees (96% of them with fewer than 20 employees) are not a homogeneous group
• That for these SMEs, payments is more than just money going in and going out, and
• There are significant benefits to be captured by going digital, and delivering meaningful digitisation is not the be all and end all.

The Roundtable discussed how there may be digital solutions for all of these issues, prioritised based on the profile of the SME customers that you are serving. It isn’t beyond imagination that a payments discussion with an SME provides an opportunity for them to reimagine their business model.