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85% of Merchants Say Crypto Payments Will Be a Norm by 2026: Deloitte

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According to a recently released survey, 73% of merchants plan to internally integrate crypto payments within the next three years. In addition, over 50% of large retailers (with revenues over $500M) are currently spending at least $1M to build crypto payment infrastructure.

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The study titled “Merchants Prepare for Cryptocurrency” was conducted by audit and consulting firm Deloitte in conjunction with PayPal.

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From December 3 to December 16, a total of 2,000 senior executives from various US retail companies took part in the survey. Among them were representatives of the fashion industry, cosmetics, electronics, hospitality and leisure, home and garden, and digital goods. Others worked in the personal and household goods, transportation, food and beverage, and other service industries.

Acceptance of crypto payments expected soon

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According to interview85% of retailers expect crypto payments to “be ubiquitous” across their respective industries in the next five years.

In addition, 73% of those earning between $10 million and less than $100 million plan to allow digital currency payments with a budget between $100,000 and $1 million. In terms of revenues ranging from less than $10 million to more than $500 million, this group has shown the most interest in crypto payments.


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This year, more than 60% of merchants intend to invest more than $500,000 to build a crypto payment infrastructure. Already 26% of merchants have the ability to pay in digital currency. Companies like Chipotle, Gucci and AMC Entertainment are likely to fall into this category.

Organizations outside of the US are also increasingly using cryptocurrency payments. Examples include the tourism sector in Thailand and the Spanish football club RCD Espanyol, the first La Liga team to adopt cryptocurrency.
According to a Deloitte survey, 93% of these businesses in the US reported growth in their customer base.

Motivational factors, problems and solutions

According to the study, merchants’ use of crypto payments is mainly driven by their clients’ enthusiasm for the asset class. 64% of them say that customers have requested such integrations, and 83% expect this interest to increase in 2022.

About half of these merchants believe that the introduction of cryptocurrencies will elevate the customer experience to a higher level. A similar number believe it will attract more customers, with 40% saying it will communicate a “leading edge” brand.

The biggest challenge (45%) in adopting a trading cryptocurrency was the difficulty of integrating crypto payments into legacy systems, especially where multiple digital assets are involved.

Other stumbling blocks were security concerns (43%), changing rules (37%), cryptocurrency volatility (36%), and budget deficits (30%).

Deloitte expects “lifelong education” to provide much-needed regulatory clarity, erasing the fears and uncertainties associated with cryptocurrency adoption.

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Credit : cryptopotato.com

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