Marqeta’s new 2025 State of Payments Report reveals that consumers and SMBs want smarter integrated payment solutions from AI-powered wallets to unified rewards programs that go beyond basic transactions, offering flexibility, personalization, and greater value.

What the Research Uncovers

Marqeta surveyed 3,000 consumers and 1,000 small and medium-sized businesses (SMBs) across the U.S. and UK to understand how payment preferences are evolving. The report finds growing demand for tools that do more than simply process payments; they want systems that deliver insight, automation, and strategic financial control.

Key Insights for Consumers

• Around 23% of U.S. consumers are changing how they pay due to economic pressures, leaning more on Buy Now, Pay Later (BNPL) or credit for financial flexibility.

• Consumers are more strategic, frequently switching between cards, cash, debit, or P2P apps to maximize value. They also show interest in AI-powered wallets that help optimize payment methods based on spending behavior.

• Loyalty is evolving: over 63% of consumers want unified rewards and loyalty management across different brands and platforms.

How SMBs are Shifting

• A majority (over 52%) of SMBs surveyed now view payment systems as strategic assets, not just cost centers.

• Even when upfront costs are higher, 89% of U.S. SMBs are open to investing in modern payment solutions if they promise long-term efficiency and growth.

• Many SMBs still rely on fragmented tools, disjointed payment workflows, or even personal credit cards to manage business expenses - indicating significant room for innovation in cash flow tools, expense automation, and predictive spend analytics.

Why This Matters

This shift in behavior has broad implications:

• Payment platforms that offer more intelligent, personalized, and flexible tools are likely to gain adoption and loyalty.

• Consumer expectations are rising: convenience, security, and meaningful rewards now compete alongside price.

• For SMBs, financial tools that reduce administrative burden, improve cash flow, and offer predictive insights can provide real competitive differentiation.

What Platforms Should Do

• Embed intelligence: Build or integrate features like smart wallets, automatic payment optimization, unified rewards.

• Simplify experience: Reduce friction in payment and rewards selection, make interfaces intuitive.

• Focus on data & insights: Help both consumers and SMBs understand their payment patterns, suggest optimizations.

• Offer scalable pricing: Tools should appeal to SMBs with affordable entry pricing but also options for more advanced suites.

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