Data-driven trends for your small business

Gen Z is rewriting the rules of spending, and understanding this cashless generation is key to future success for small business owners. Facing a unique set of economic challenges, Gen Z is prioritizing financial literacy and mindful spending, seeking control and flexibility with their money. They embrace a digital-first approach to spending, favouring options like debit cards, tap-and-go, and mobile wallets — ditching cash at a rate that outpaces any previous generation.

To capture this emerging generation of consumers, small businesses need to adapt and offer seamless digital payment options. This includes prioritizing debit card acceptance and ensuring a smooth and user-friendly mobile wallet experience.

Canadians are increasingly uneasy about their data privacy, with many feeling vulnerable and feeling they have less control in a digital world that’s becoming increasingly complex. While they expect businesses to protect their information, many doubt the effectiveness of current measures.

The demand for enhanced security is fueling the rise of digital verification tools such as those offered by Interac Verified. Business leaders recognize that such solutions are crucial, not only for protecting customer data but also for making organizations safer for employees.

Time and money are a small business owner's most precious resources, yet many lack confidence in managing them effectively. And as inflation squeezes margins, ditching outdated, time-consuming processes for more innovative solutions is critical for your bottom line.

Digital transformation, like adopting Interac Debit and Interac e-Transfer for payments, can empower businesses to streamline operations, freeing up time and resources for higher-value tasks. By embracing digital tools, small business owners can gain better control of their finances, boost confidence, and unlock their growth potential.