CardFlight Data: SMB Card Data Indicates Steady Incremental Growth

The latest Small Business Impact Report from ETA member CardFlight, a payments technology and mobile point-of-sale firm, has found that sales for small businesses have remained steady in incremental growth in July as the COVID-19 pandemic continues.

According to an analysis of their card volume, small business sales were up 1.2 percent in early to mid-July, steadily up over the proceeding weeks. Overall sales have been consistent since early June, CardFlight reports. They remain above the March 3rd to Match 8th “pre-COVID baseline” by over 20%. Transaction counts, after experiencing a holiday boost during the Fourth of July, have returned to a 13.7 percent increase over the pre-COVID baseline.

Notably, CardFlight reports that the number of active small businesses is just 1 percent below the pre-COVID baseline. By comparison, last week the number of active small businesses was 2.2 percent below the baseline; in mid-May, it was 14.4 percent below the baseline.

Contactless payments continues significant growth over pre-COVID baselines at small businesses. This week, the number of contactless transactions was 94 percent higher than pre-COVID levels. Late June and early July saw a high since the beginning of the pandemic – contactless payment transactions were 104 percent higher.

Click here to read the full report.