Business Payments Survey

Launched in January 2018, a new continuous multi-client research programme monitoring the Business Payments market in Great Britain, based on telephone interviews with an annual total of 5,000 SMEs.

The SME Business Payments Survey is an ‘umbrella’ programme comprising three sub-surveys:

Key features

Covers all sizes
of SMEs

Covers small & medium-sized businesses in the £50,000-£25m turnover segment.

Common core
questionnaire

Benchmark the performance of individual providers at both a high level (based on Key Performance Indicators) and at a diagnostic level via detailed service ratings.

5,000+
interviews

The 5,000 interviews are conducted evenly and continuously throughout the year.

Weighted
data

Data is weighted to be representative of all SMEs in the £50,000-£25m segment – the programme is therefore ideal for sizing markets and market segments as well as providing percentage-based insights.

Reported
Bi-annually

Data is reported every 6 months, enabling subscribers to keep a close eye on trends and new developments.

Compare payment
behaviour

Ability to compare and contrast SME payments and cards behaviour based on provider (main bank / card issuer / merchant acquirer), company turnover, business sector, region, etc.

Insights generated

Results segmented by turnover, business sector, region, product provider, etc
General Payments
  • Main bank used for business banking
  • Methods used to make and receive payments over the past 6 months
  • Which payment methods have been used more / less over the past 6 months?
  • For SMEs who accept card payments, through which channels can card payments be taken (e.g. via the SME’s website)?
  • If accept card payments, which merchant acquirers are used?
  • For SMEs who make payments using a business card, which types of cards are used (e.g. debit, credit, charge, prepaid, virtual)?
  • If make card payments, which card issuers are used?
  • Which types of SME are more / less likely to be using certain types of payments? How does their behaviour differ by size, by sector, by region and by main bank/ card provider/ merchant acquirer?
  • If make international payments, which providers do they use?
  • Which types of SMEs are most/least likely to be trading internationally?
  • What proportion of SMEs are aware of each of the newer types of payments (Paym, Alipay, Amazon Pay, Google Wallet, Apple Pay, etc)?
  • What proportion of SMEs are already using, or intend to use, each new payment method?
  • What types of SMEs are most aware and most positive towards these new methods?
Company Card Payments
SMEs’ satisfaction with their main bank across 55 separate attributes spanning:
  • Which types of SME are most likely to be using company cards to make payments?
  • What type of card do SMEs use -debit, credit, charge, prepaid, virtual?
  • For card issuers, what is their market share within each card type?
  • Which types of SMEs have the highest monthly card expenditure? And which issuers’ customers generate the highest card expenditure?
  • Which types of SMEs make card payments most frequently?
  • Which types of SMEs have the most card users in their business?
  • What types of purchases have SMEs made over the past year by card, e.g. business equipment & machinery, staff expenses, etc. And how does this vary by type of SME?
  • What proportion of card expenditure is made in foreign currency?
  • What are the key factors affecting SMEs’ choice of card issuer?
  • Which types of SME are most likely to use their main bank as the provider of their company card? And who’s least likely?
  • Which card issuers are most/least likely to be recommended by their customers (Net Promoter Score)? And why?
  • How do card issuers compare and contrast in terms of overall customer satisfaction?
  • How do card issuers compare in terms of 12 specific aspects of card service such as statements, rates & charges, security issues, and so on?
  • How do card issuers compare in terms of 10 brand attributes such as ‘is more trustworthy than others’, and so on?
  • Which specific operational and brand attributes are most influential in driving (a) SME satisfaction overall, and (b) NPS?
  • Which types of SMEs, or customer base, are most likely to switch away from their existing card issuer within the next 12 months?
  • What proportion of SMEs would be willing to consider specific card issuers
Card Acceptance
  • Which types of SME are most likely to be accepting card payments from their customers?
  • Through which channels do SMEs accept card payments – via their website, face-to-face using a terminal or hand-held device, by telephone/post, via their own mobile phone using a plug-in card reader? And what types of SME are most likely to be using each channel?
  • For merchant acquirers, what is their market share within each card acceptance channel?
  • What proportion of SMEs are aware of the term ‘payment gateway’?
  • For payment gateway providers, what is their market share?
  • Which types of SMEs have the highest monthly card income? And which merchant acquirer’s customers generate the highest card income?
  • Which types of SMEs receive the most card payments by volume in an average month?
  • Which types of SMEs are most likely to use their main bank as their merchant services provider? And who’s least likely?
  • Which merchant acquirers are most/least likely to be recommended by their customers (Net Promoter Score)? And why?
  • How do acquirers compare and contrast in terms of overall customer satisfaction?
  • How do acquirers compare in terms of 15 specific aspects of service such as the speed with which payments are credited to the SME’s account, individual transaction fees, and so on?
  • Has the SME contacted their acquirer over past 6 months and what was their level of satisfaction with the service/response they received?
  • How do acquirers compare in terms of 10 brand attributes such as ‘is more trustworthy than others’, and so on?
  • Which specific operational and brand attributes are most influential in driving (a) SME satisfaction overall, and (b) NPS?
  • Which types of SME, or customer group, are most likely to switch away from their existing merchant acquirer within the next 12 months?
  • What proportion of SMEs would be willing to consider specific merchant acquirers?
Usage
  • Product usage & providers used – 17 key financial products monitored
  • Bank channel usage – channels used at all in past year and channel used most

Valuable strategic insights generated

Which banks are gaining / losing market share?
Which banks are strongest / weakest within specific business sectors and regions?
Why are the highest-rated banks achieving such good ratings?
Which specific factors (from over 50 measured) are most influential in driving customer satisfaction overall
Which bank delivery channels are becoming more/ less important to businesses over time – and at what rate?
What are the relative strengths and weaknesses of individual named banks?

Contact us to find out more

Our team are on hand to help - contact us via the form to find out more.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
FOLLOW US
Charterhouse Research is part of MIG Global and part of the Next15 Group.

Registered Office: 75 Bermondsey Street, London, England, SE1 3XF
Privacy PolicyTerms & Conditions