Digital transformation is happening now, and it's happening fast! Consumers are motivated to buy from businesses that offer convenient and easy shopping experiences like the ability to shop both in-store and online, use digital payments, and keep up with their favorite products and services online. As commerce is going through a transformation, businesses are looking at digital solutions to help improve sales, obtain new customers, and reduce costs.
This presents opportunities for small and medium size businesses (SMBs), as few SMBs are selling online and taking advantage of the available digital tools and services. To assist SMBs, Visa partnered with a consortium of trade associations, technology providers, banks, and researchers to answer the question:
Do SMBs need to transform digitally to prosper in this environment, and if so, how can they start?