Contents
Key Takeaways
Introduction
In this blog post, we will dive into a discussion between two individuals about the future of financial services and the opportunities and challenges in the SME (Small and Medium-sized Enterprises) segment. The speakers discuss the impact of technology on businesses, the need for innovation in business payments, and the changing landscape of entrepreneurship. Let's explore the key themes discussed in this conversation.
The Impact of Technology on Businesses
The conversation begins by highlighting the significant focus on consumer-centric technology companies in recent years. Companies like Uber and Instacart have revolutionized the way individuals access services and products. However, the speakers note that there has been a lack of focus on technology solutions for businesses. This is starting to change, with a surge in B2B marketplaces and business planning tools emerging.
The Evolution of the SME Segment
The speakers acknowledge that the SME segment has traditionally been overlooked due to various obstacles and challenges. However, they discuss how the COVID-19 pandemic has accelerated the need for digital transformation in businesses. They mention that 56% of SMEs have pivoted or shifted their business models towards digital channels. This shift has opened up new opportunities for technology companies to cater to the evolving needs of SMEs.
Pain Points in Business Payments
One of the pain points discussed is the inefficiency and frustration associated with business payments. The speakers highlight the challenges faced by businesses when making and receiving payments. They mention the difficulties of distributing petty cash to employees, the reliance on personal cards for business expenses, and the cumbersome process of entering vendor details in banking portals. These challenges result in cash leakages, accounting nightmares, and inefficiencies.
The Opportunity for Innovation in Business Payments
The speakers emphasize the need for innovation in business payments. They discuss the potential for technology solutions to address the pain points faced by businesses. By streamlining payment processes, reducing fraud, and improving efficiency, businesses can save time and money. The speakers believe that there is a significant opportunity to disrupt the traditional business payments landscape and provide better solutions for businesses of all sizes.
The Changing Landscape of Entrepreneurship
The conversation concludes with a discussion on the changing landscape of entrepreneurship. The speakers predict that businesses will continue to shrink in size as more functions become automated. However, they also anticipate the emergence of a new breed of entrepreneurs who will serve multiple businesses through their own ventures. This shift towards self-employment and the gig economy is expected to create new opportunities and challenges for both entrepreneurs and businesses.
Conclusion
In conclusion, the discussion highlights the need for technology solutions in the SME segment and the opportunities for innovation in business payments. The speakers emphasize the importance of addressing the pain points faced by businesses and predict a future where entrepreneurship takes on a new form. As the business landscape continues to evolve, it is crucial for businesses and entrepreneurs to adapt and leverage technology to stay competitive. If you're interested in learning more about the future of financial services and how technology can transform your business payments, we invite you to explore the solutions offered by Holly Wally, the world's first wallet-as-a-service platform. Visit Holly Wally's website to find out how they can help you build your mobile wallets, increase revenue, and reduce time to market. Remember, the future is full of opportunities, and embracing innovation is the key to success in the ever-changing business landscape.
Find out how much your business can save with Pluto
Discover your savings with Pluto's Cost Saving Calculator and take control of your expenses. Unlock cost-efficiency now!
Calculate NowLearn how Pluto is helping Keyper to eliminate petty cash spending and optimize spend management
Read More![](https://cdn.prod.website-files.com/62d6b870b5e4578a4b2e2668/654cdcc2182e42c50fa42bbe_Pluto%20Blog%20Banner%20Design%201_01-11-23.webp)
![Mohammed Ridwan](https://cdn.prod.website-files.com/62d842a22c62111fcb0ac09e/652fdeebb9c59c9e6bc96a6d_ridwan.jpg)
Mohammed Ridwan, COO of Pluto
At Pluto Card, our mission is to assist businesses of all scales make well-informed choices. To uphold our standards, we follow editorial guidelines to guarantee that our content consistently aligns with our high-quality benchmarks.
Get started with a free account
Let Pluto do all the heavy lifting, so your finance team and employees can focus on things that actually matter and add to your bottom line. Get started with a free account today.
You may also be interested
Modern finance teams save time & money with Pluto.
Get started today
Features
Solutions
Accounting
Tools
Expert advice
Join 2000+ finance professionals keeping up to date with the latest news & releases.
© Pluto Card is a Pluto Financial Services Inc. company 2024
1 The maximum cashback that can be received on a transaction is 2%. Cashback received varies depending on several factors including the tier of Pluto subscription, type of payments made and other factors.
2 Free invoice payments are available for customers who use “Pay via Pluto” on any International FX Payments that are greater than $6,000 USD in value.
The Corporate Prepaid Card Program is provided by Pluto through Nymcard Payment Services LLC under the applicable payment network and Bank Identification Number Sponsorship of Mashreq Bank PSC. This is pursuant to the license by Visa® Inc and Mastercard and is available for the residents of UAE subject to Terms and Conditions of use.
Pluto Technologies Limited, DIFC is provider of the technology platform for ‘Pay via Pluto Product’ while the payment services are offered by InterPay Limited (Trade Name TransferMate Global Payments) under its regulated license from the Central Bank of Ireland as an Electronic Money Institution under registration reference number C42802.
In UAE, Interpay Ltd t/a TransferMate is Authorised by the Dubai Financial Services Authority (DFSA) to operate a Representative Office under license no. F005449.
More information InterPay Limited can be found at https://www.transfermate.com/