Small and medium-sized businesses* (SMBs) are at a pivotal moment. And where traditional financial services have seemingly fallen short, an innovative new payments player or solution has emerged to bridge the gap.
Recently, Marcin Glogowski, SVP & Managing Director of Europe and UK CEO at Marqeta, was invited to share new Marqeta research during an episode of the Fintech Insider podcast by 11:FS. Joined by Stéphane Dehaies from Spendesk and Hanna Sommer from Liberis, Glogowski dove into insights from our upcoming 2025 State of Payments Report, which surveyed 500 SMBs in the UK, 500 SMBs in the US, and 3,000 consumers from both countries.
The discussion raised an important point: traditional financial services don't really match how SMBs actually work. But where there is a gap, there is an opportunity. Platforms are in position to step up and support SMBs by gaining deeper insights into how their businesses are running.
Understanding SMB constraints and opportunities
SMBs often find themselves particularly vulnerable to potential economic instability, because they operate with much smaller cash buffers than larger enterprises. Their access to traditional funding sources is fundamentally different and more limited than what's available to bigger companies.
The resource constraints are equally challenging, as SMBs often don't have dedicated finance teams or specialized functions. Instead, they have founders and employees wearing multiple hats, with individuals handling fractions of various job responsibilities, rather than full-time roles.
However, these constraints represent massive opportunities for the right kind of service providers who understand how to use data to meet SMB needs.
The infrastructure opportunity
Glogowski sees these constraints not just as challenges, but as massive opportunities for the right kind of payment infrastructure players. By gaining deeper insights into how SMBs actually operate—from their cash flow patterns to their daily operational needs—platforms can build solutions that deliver enterprise-level capabilities without enterprise-level complexity.
This means creating payment infrastructure that SMBs can use efficiently, without requiring substantial internal resources to operate and manage.
Dynamic controls and Just-in-Time funding
Marqeta's approach centers on dynamic spend controls—payment infrastructure that adapts in near real-time to business needs while allowing for business oversight. This can include highly customizable controls and Just-in-Time Funding, where card balances become available at the exact moment of spending while remaining part of the company's overall working capital pool beforehand.
This approach addresses a core SMB challenge while creating opportunities for platforms to provide more intelligent, responsive financial tools: maintaining control over spending without unnecessarily tying up working capital that could be used for other business needs.
Beyond processing: Payments as business intelligence
Modern payment infrastructure needs to do more than just move money. The transaction data generated when used correctly has tremendous potential to help platforms better serve SMBs by enabling access to new forms of funding and allowing owners to make better business decisions based on actual transaction history.
This data-driven approach is enabling new products like Marqeta Flex, which provides businesses with fallback options that allow them to access Buy Now, Pay Later functionality when card funds aren't available, creating more flexibility in cash flow management.
The partnership ecosystem
A recurring theme for the panel was the importance of partnerships in serving SMBs effectively. Rather than trying to be everything to everyone, successful solutions combine specialized expertise with robust infrastructure, creating opportunities for platforms to develop deeper insights into SMB operations through collaborative data sharing and integrated services.
Glogowski explained Marqeta's role as powering businesses that create financial solutions for SMBs. This includes enabling card programs that work efficiently and scale effectively, while providing both transactional capabilities and the data and insights needed for partners to continuously improve.
Key takeaways for SMBs considering new payment solutions:
- Think strategically, not tactically: Don't just fix individual pain points—look for platforms that can transform how you manage money across your entire operation.
- Prioritize integration over features: The best solution integrates seamlessly with your existing workflows, rather than forcing you to adapt to new systems.
- Look for partners who understand your business: Generic solutions rarely work for SMBs. Find providers who understand your industry, size, and specific challenges.
- Focus on value creation: Identify what takes most of your time that isn't related to driving core business value, and find solutions that free up those resources.
Looking ahead: From scarcity to choice
Perhaps most optimistically, Glogowski sees the market evolving from a world of limited options toward increasingly diverse choices available to SMBs. The infrastructure is catching up to what SMBs actually need, and platforms that can gain deeper insights into SMB operations are well-positioned to create more opportunities for businesses to find solutions that truly fit their operational requirements.
The question now is: which businesses will be early adopters of these new capabilities, and which will wait, potentially giving competitors the advantage?
The transformation of SMB financial services is already happening. For platforms ready to understand and serve SMBs better, and for businesses ready to embrace modern payment infrastructure, the payoff goes well beyond better transaction processing: it's about turning a necessary cost into a competitive advantage.
Watch the full discussion to dive deeper into these insights and learn more about how modern payment infrastructure can help transform your SMB's financial operations.
*SMBs are defined as organizations with annual revenue of less than $50 million.