CAN Capital’s TRANSACT Survey Results

April 23, 2014 – CAN Capital, the market share leader in alternative small business finance conducted a survey of payments professionals to gauge the sentiment of the payments processing industry at TRANSACT 14.

The Survey found that mobile payments technology was identified by 61% of payments professionals as the fastest-growing, merchant-focused product of the past 12 months.

29% of respondents said that pricing pressure was the biggest threat to their business, followed by 23% citing new technologies and 8% citing providing additional merchant services.

As the biggest challenge faced by small business owners in the area of payments processing 34% identified credit or debit transactions, 22% noted limited ability to comply with changing payments security standards, 20% mentioned the limited ability for brick & mortar shops to use mobile and e-payment technology while 16% stated it was the cost of data breaches.

“An overall take-away from the data and from TRANSACT 14 is that mobile and other new payments technologies will continue to be key drivers of change,” said James Mendelsohn, Chief Marketing Officer of CAN Capital. “Our mission is to support the growth of small businesses, and we’re paying close attention to the components that are being identified as essential for that growth.”

For more information on the survey see: www.cancapital.com