Crypto Payments: The New Normal for U. S. Shops?

A recent study by the National Cryptocurrency Association (NCA) and PayPal reveals that almost 40% of U.S. merchants now accept crypto payments. This isn't just a fleeting trend—it's becoming a standard way to pay.

Key Findings from the Study

• Survey Scope: The study surveyed 619 payment decision-makers across various industries.
• Customer Demand:
• 88% of merchants report customers asking about crypto payments.
• 69% receive these requests at least once a month.
• Business Impact:
• Crypto payments make up over 25% of sales for businesses that accept them.
• 72% of merchants saw growth in crypto transactions over the past year.

Why Are Businesses Adopting Crypto?

Merchants cite several benefits:

• Faster transactions (45%)
• Attracts new customers (45%)
• Better security (41%)
• More privacy for buyers (40%)

Big Businesses Lead the Way

• 50% of companies earning over $500 million annually accept crypto.
• 34% of small businesses and 32% of midsize firms also accept crypto.

Driving Demand: Younger Shoppers

• 77% of Millennials and 73% of Gen Z are interested in using digital assets.

Challenges Ahead

• 90% of merchants would accept crypto if it were as easy as setting up credit card payments.
• Businesses want the payment experience to be as smooth as traditional methods.

The Takeaway

Crypto payments are here to stay, and businesses are starting to see the benefits. However, for crypto to go truly mainstream, it needs to be as simple and seamless as possible.