The news: Senior decision-makers in Europe are using technology to navigate economic and market uncertainties, per the American Express Business Barometer. 

• 4 in 5 (80%) see technology as a top priority for navigating difficult economic climates ahead.
• 82% think incorporating tech into their business practices can build resilience for anticipated future challenges.
• And 97% of businesses are taking steps to capture international travelers’ spending.

Three areas of focus: European business leaders see opportunities around AI and agentic solutions, social media pushes, and broadening payment acceptance.

AI and agentic solutions. Ninety-three percent of firms report using or planning to use AI in the next two years. Customer service and personalized marketing offers and experiences are key use cases at 36% and 30%, respectively. Sixty-eight percent of EU businesses believe adopting agentic technology will give them competitive advantages, but 67% said taking caution with agentic AI was the best option.

Social media. Social platforms have become European businesses’ most important marketing and sales channel, with 45% of respondents ranking its importance to sales and marketing over personal webpages and apps or genAI integrations (33%). And 35% of EU businesses said community building on social and ecommerce platforms was their top loyalty priority.

Payment innovation. European businesses want to cater to international visitors, making wider payment acceptance and ease at checkout essential. Half of European businesses note foreign visitor spending as a growth lever, and almost all (97%) are taking strides to reduce language barriers and increase international acceptance at checkout. 

Implications for payment providers: Foreign merchants are more likely to join networks and new payment methods like BNPL if given the benefit of visibility on travel guides and platforms within providers’ travel platforms and apps.

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