Within the framework of a context marked by increasing digitization by the consumer, Spanish SMEs have found in digital payments a key ally to maintain and boost their businesses, adapting in turn to the new digital needs of consumers. This is reflected in the data from the report published by Visaa leading company in digital payments, highlighting that 77% of small businesses in Spain currently accept digital payments. In this sense, the study highlights that More and more Spanish businesses are accepting digital payments in their businessessince in only one year The number of Spanish SMEs that accept digital payments has increased eleven percentage points (77% in 2023 vs. 66% in 2022).
To understand how Spanish SMEs have adapted to an increasingly digital consumer, Visa has analyzed the degree of digitization and use of digital payments in more than 800 small businesses in Spain. As a result, another of the trends that stands out is the use of the card among consumers, which already represents 37% of the total payments in those businesses that accept this payment method.
Thus, small businesses show the multiple advantages of adopting digital payments and the added value it brings to SMEs. And, according to the report, 66% of businesses that currently accept digital payments consider that paying by card reduces the risk of not being paid. In addition, they affirm that this digitization brings them better business figures, since more than half (54%) of the SMEs surveyed affirm that their business volume has increased between 6% and 15% since they began to accept digital payments. . The amount of the average ticket has also increased, since 65% of the SMEs surveyed consider that the volume of spending increases when paying by card.
In this context, Roble Dorronsoro, responsible for Businesses and Visa Acceptance in southern Europeunderlines the importance of continuing to promote digitization and payment acceptance in all businesses: “It is great news to see that more and more SMEs are aware of the added value that digital payments bring to their businesses. However, we cannot forget that we must continue supporting the 23% of SMEs that still do not accept digital payments. In 2020 at Visa we committed to accelerating the digitization of 8 million SMEs in Europe, providing them with a global, fast and secure payment network, as well as new ways to accept digital payments with a smartphone and without the need for a terminal, such as the Tap to Phone technology”.
Security continues to be one of the main advantages for the digitization of payments for SMEs
Security continues to be one of the main reasons that the surveyed SMEs have indicated for betting on the digitization of payments in their businesses. Specifically, 76% of SMEs that accept card payments consider Fraud and Security prevention tools as a relevant factor within their payment offer.
On the other hand, for SMEs, digital payments also offer greater agility and ease in each payment, and, according to the report, 67% of small businesses that accept card payments find it easier than other means of payment.
Focusing on the different sectors, the study highlights that, while sectors such as Retail (products) (91%), Food and Beverages (86%), or Travel and Transport (84%) already have very good figures in Regarding acceptance, other verticals such as Education (65%) still have room to digitize.