Almost 40% of U.S. merchants now accept cryptocurrency payments at sales counters, according to a new PayPal survey. The data implies that crypto payments are moving from experimentation into everyday use by the people.
The survey has also found that nearly 90% of merchants have received customer inquiries about paying with crypto.
PayPal says adoption is being propelled by demand for faster and more flexible payment options, especially among younger shoppers.
Large enterprises have led the adoption; and small as well as midsized businesses are also catching up. Among the merchants accepting crypto, digital asset payments now account for about 26% of total sales, pointing to real customer usage.
PayPal launched its crypto checkout tool last year, with the help of which merchants are in a position to accept over 100 cryptocurrencies. However, complexity remains a barrier, with 90% of merchants saying that they would adopt crypto if it were as easy as card payments.
Millennials and Gen Z are the top crypto users, while travel, gaming, and digital goods lead adoption across industries.
You need to login in order to Like
Leave a comment