Throughout 2020 and 2021, small to medium sized businesses faced many challenges that threatened their doors staying open. Now in 2022, these hardships are coming from banks and fintech companies abandoning their smaller accounts that they originally set out to serve in order to focus on their larger customers.

 It is during times like these that PEX is here to help. We recognize that SMBs are the key to a stronger, more resilient future, which is why we plan to keep prioritizing and contributing to accelerating the meaningful growth of these SMBs. Our organization’s focus is to treat small to medium sized businesses as we would any large enterprise. We are committed to being both stable and reliable, while assisting our customers in proactively managing workforce spending, streamlining operations, and leveraging real-time activity data to their advantage. To power the desired shift among SMBs, innovation is a necessity. At PEX, our team of dedicated innovators and disruptors continues to evolve everyday, finding new ways to help our clients operate more efficiently. 

 In particular, global demand for contactless payment continues to skyrocket due to concerns regarding Covid-19. As a result of these concerns e-commerce has exploded and digital transformation around secure online payments has accelerated. In an effort to support SMB’s through these demands, the PEX Platform  recognizes customers want different modes of payment to be available to them, and contactless is one of the most preferred ways.

Effectively managing cash flows, and avoiding any financial missteps are essential components of every small business. A lot of SMB owners face difficulty when keeping their books up to date which is why it would benefit them to finally part with paper. With the PEX prepaid, reloadable card, many SMBs will have a convenient, functional resource right at their fingertips to streamline spend and expense management, and the process is simple. First, distribute cards to employees, while having complete control, setting rules or spend limits and being able to view transactions in real-time. We see the struggles that many SMBs face when dealing with cash or checks, and we want to make your spending process as hassle-free as possible to avoid any potential risk.

Here are some ways in which we plan to make these small businesses feel important, and the tips we recommend to help them continue to thrive with our PEX Products. 

   Providing access to alternative payment methods: 

  1. Virtual Card – in addition to being touchless, virtual cards have two major benefits: it streamlines reconciliation for both buyers and suppliers and it also makes the transaction more secure.
  2. Digital Wallet – You simply wave or tap your phone over a POS terminal and the transaction is completed within seconds with no need for a physical card and any contact.

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