Author(s): Ankita Mehra¹, Dr. Archana Singhal²

Abstract: This study explores the adoption rates, perceived benefits, challenges, and key factors influencing the integration of new payment technologies among Small and Medium-Sized Enterprises (SMEs). While digital payment solutions offer substantial benefits in terms of operational efficiency, customer satisfaction, and competitiveness, SMEs face several barriers including high costs, technical challenges, and security concerns. This paper analyzes industry-specific trends, geographical influences, and the impact of business size on the adoption process. The findings emphasize the need for targeted support from technology providers, policymakers, and industry stakeholders to facilitate the digital transformation of SMEs and ensure their competitiveness in an increasingly digital economy.

Keywords: SMEs (Small and Medium-Sized Enterprises), Digital payment solutions, Adoption challenges and Digital transformation.

DOI:10.61165/sk.publisher.v12i4.1

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Small and Medium-Sized Enterprises and the Future of Payment Technologies: Perspectives and Challenges

Pages:01-12