Marqeta Report Highlights Shift Toward Smarter Payment Platforms
Marqeta released its sixth annual State of Payments Report, which shows rising demand for smarter payment platforms among consumers and small to medium-sized businesses (SMBs). The study surveyed 1,000 SMBs and 3,000 consumers across the US and UK, revealing strong interest in flexible, real-time, and digitally integrated payment solutions. With increasing financial pressures, both consumers and SMBs are turning to intelligent payment platforms to meet evolving needs.
Consumers Embrace Strategic Payment Tools
UK consumers are leading the shift from passive payment use to strategic decision-making. They want platforms with smarter tools and seamless integration. According to Marqeta, 34% of UK consumers are interested in AI-powered wallets that optimize payments automatically. Additionally, 49% want payment platforms that recommend whether to use credit, debit, or BNPL for each purchase.
“Consumers are demanding more convenience and personalization from payment platforms,” said Marcin Glogowski, SVP and Managing Director for Europe and UK CEO, Marqeta. “They expect providers to deliver real-time value tailored to their spending habits.”
Buy Now, Pay Later (BNPL) adoption further reflects this trend. While BNPL was once for larger purchases, UK consumers now use it for everyday spending. The report shows 16% of BNPL users apply it to groceries, while 14% use it for food delivery. Marqeta’s platform data also reveals a 9% decline in average order value, signaling BNPL’s growing role in daily expenses.
SMBs Push for Innovative Financial Solutions
UK SMBs are also seeking smarter financial tools to fuel their growth. Despite generating £2.8 trillion in revenue, SMBs access just £62.1 billion in business loans, underscoring limited financial support. The report highlights that 42% of SMB owners rely on personal credit cards to cover business expenses, pointing to the lack of modern business card solutions and flexible underwriting models.
“SMBs require smarter payment platforms that drive growth, not just handle transactions,” added Glogowski. “Payment providers that deliver modern, real-time solutions will capture this demand.”
More than half of SMBs (52%) now see payments as a strategic asset that improves efficiency and frees up cash flow. Furthermore, 90% of surveyed SMBs said they would invest in new payment solutions with higher upfront costs if they delivered long-term savings and operational advantages.
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News Source: Businesswire.com
