90% of Puerto Rico SMEs see growth with digital payments
Small and medium-sized enterprises in Puerto Rico that accept digital payments are reporting business gains, with 90% saying they have seen growth since adopting the technology, according to a new Mastercard study.
The survey, which gathered responses from 150 owners and directors, highlights the role of digitalization in the survival and expansion of local businesses.
Seventy-nine percent of respondents said they could not remain in business without accepting digital payments, while 88% reported saving time and money from their use.
“The findings of our latest SME Digital Payments Study in Puerto Rico reaffirm what we see on the ground every day; digital payments are no longer a convenience; they are a catalyst for growth,” said Pablo Cuarón, country manager for Puerto Rico at Mastercard.
“At Mastercard, we are committed to equipping Puerto Rican businesses with secure, innovative payment solutions that not only drive sales, but also open doors to new opportunities, improve efficiency, and strengthen their connection to customers both locally and globally,” he said.
Interest is also strong among firms that have not yet adopted digital tools: 80% of SMEs without digital payments said they want to add them, and 60% admitted they lose customers at least once a week by not offering the option.
Beyond sales, digitalization is reshaping operations. Some 68% of SMEs said they use digital payments to pay suppliers, while 75% called them essential to making their business safer. Other benefits cited include the ability to scale operations (77%), improve customer experience (76%) and simplify bookkeeping (78%).
When selecting providers, SMEs said trust and support matter most. The survey found that 83% of businesses consider customer service essential, while 86% view trustworthiness as the most important quality. Security features were valued by 81% of respondents, and flexibility to accept multiple payment types by 80%.
The study also found that digital payments often serve as a gateway to additional services. All SMEs surveyed said they are aware of supplementary services from their providers, and 99% reported using at least one of them. Access to credit was the most recognized, cited by 43% of businesses.
Mastercard said it continues to support Puerto Rican SMEs through programs such as Jump All In with Lote 23, which offers mentorship, tools and resources to expand in the digital economy.
It also highlighted security measures including contactless payments, biometric authentication with Passkeys, tokenization and cybersecurity programs such as the Trust Center and My Cyber Risk.
According to the company, “creating opportunities to strengthen a reliable and open digital payments ecosystem is key for SMEs in Puerto Rico to continue innovating, expanding their opportunities, and contributing to the country’s economic progress.”
