A recent report from PYMNTS highlights a notable trend among small and medium-sized businesses (SMBs) in the United States, revealing that 36% of internationally active SMBs plan to utilize FinTechs for cross-border payments by 2026, up from 30% in 2025. While traditional banks continue to dominate the international payments landscape, the increasing adoption of FinTech solutions indicates a significant shift in how these businesses approach their payment needs. The report underscores that SMBs are not abandoning banks but are instead diversifying their payment strategies to include a mix of traditional and digital providers that can better cater to their specific requirements in a global marketplace.
The findings are particularly striking, as 91% of SMBs using FinTech payment providers rated their experience positively, suggesting that these companies are effectively addressing the complexities often associated with international transactions. In contrast, reliance on traditional banks for cross-border payments is projected to remain robust, with 69% of SMBs expecting to use these institutions, up from 64% in the previous year. This dual approach reflects a growing recognition among SMBs that a single provider may no longer suffice in an increasingly interconnected world.
The report also indicates a willingness among businesses to adopt a more tailored approach to payment solutions, with projected increases in the use of accounting platforms with payment capabilities and stablecoin platforms. This trend is indicative of a broader evolution in the payments landscape, where businesses are seeking to optimize their payment processes through a combination of established banking services and innovative FinTech solutions. As international sourcing continues to rise, this diversified payment strategy could enhance the competitiveness of SMBs in global markets, allowing them to navigate the complexities of cross-border transactions more effectively.
The findings are particularly striking, as 91% of SMBs using FinTech payment providers rated their experience positively, suggesting that these companies are effectively addressing the complexities often associated with international transactions. In contrast, reliance on traditional banks for cross-border payments is projected to remain robust, with 69% of SMBs expecting to use these institutions, up from 64% in the previous year. This dual approach reflects a growing recognition among SMBs that a single provider may no longer suffice in an increasingly interconnected world.
The report also indicates a willingness among businesses to adopt a more tailored approach to payment solutions, with projected increases in the use of accounting platforms with payment capabilities and stablecoin platforms. This trend is indicative of a broader evolution in the payments landscape, where businesses are seeking to optimize their payment processes through a combination of established banking services and innovative FinTech solutions. As international sourcing continues to rise, this diversified payment strategy could enhance the competitiveness of SMBs in global markets, allowing them to navigate the complexities of cross-border transactions more effectively.
Source: PYMNTS
