Increased pressure to digitally transform against the backdrop of a challenging macroeconomic climate has further elevated the strategic value of payments for enterprises. There are few areas within a business that have as direct an impact on bottom- and top-line performance as payments. It is also an area where seemingly small strategy and technology changes can have an outsized impact on revenue and profitability.
Encouragingly, 451 Research’s Voice of the Enterprise surveys indicate that 67% of merchants now see payments as a highly strategic area of focus for their company, rising to 78% of the most digitally advanced businesses. Emphasis on transforming payment processes and technologies continues to increase as well. In fact, 61% of merchants agree that modern payments infrastructure will be highly transformative for their business over the next three years.
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