The research highlights that SMEs recognise the benefits of improving their payments stack; just under half (46%) believe they would attract more customers by offering a greater choice of payment options. Yet despite this recognition, only a fifth (19%) intend to prioritise improvements in the period ahead.

However, a proportion of respondents are making changes, according to the research, with an objective of attracting younger consumers. Respondents believe offering greater payment options will predominantly appeal to Gen Z customers, who increasingly expect flexibility when spending. Among the SMEs planning to make changes, over a quarter (28%) plan to introduce QR code payments; and one in six (16%) intend to introduce instalment options specifically to broaden their appeal to this cohort.

Dan Edelman, UK General Manager, Merchant Services at American Express, said: “Against a challenging backdrop, payments are one of the most powerful levers that SMEs can pull to help drive business growth. Offering customers their preferred way to pay, along with reducing friction in the payments journey, boosts sales and loyalty.

“That’s why we’re focused on making accepting American Express Cards more straightforward than ever before for SMEs. By saying yes to Amex, they unlock access to our loyal Cardmembers who are higher spending than other credit card users, and actively seek out businesses where they can use their Amex Card.” 

American Express is rolling out an operating model that makes it straightforward for small businesses to welcome loyal, higher-spending Amex Cardmembers. This means small businesses can work with their existing payment provider to switch on acceptance, and (in the majority) will receive one statement, enjoy one settlement process and single servicing contact – freeing up more time to focus on their business.  

American Express Cards are accepted at an estimated 160 million merchant locations worldwide, as of June 2025. In the UK since 2021, American Express has driven a 3x increase in Amex-accepting locations, including more UK small businesses than ever before.

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