One in Four Businesses Surveyed Plan to Accept Cryptocurrency Payments This Year

Visa Says a Quarter of Small Businesses Surveyed Plan to Accept Cryptocurrency Payments This Year

Payments giant Visa has conducted a survey of small businesses and found that almost a quarter of those who responded plan to accept cryptocurrency payments this year. “I think more people are feeling more confident with crypto,” said a Visa executive.

Small Businesses in 9 Countries Plan to Accept Cryptocurrency This Year

Visa published a study on digital payments Wednesday. It was conducted by Wakefield Research in December 2021 and included a survey of 2,250 small business owners with 100 employees or fewer in Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore, United Arab Emirates, and the U.S.

Visa described that a path forward for small and micro businesses (SMBs) in 2022 includes “Going long on digital payments – even crypto.” The payments giant detailed:

Of those surveyed, 24% said they plan to accept digital currencies such as the cryptocurrency bitcoin.

The company elaborated: “An overwhelming 82% of SMBs surveyed said they plan to accept some form of digital option in 2022 and 73% see accepting new forms of payments as fundamental to their business growth.”

Jeni Mundy, Visa’s global head of merchant sales and acquiring, was quoted as saying:

I think more people are feeling more confident with crypto.

In December, Visa launched crypto advisory services. Moreover, Visa’s head of crypto recently revealed that the company has partnered with 60 cryptocurrency platforms to let consumers spend digital currency at 80 million merchants worldwide.

What do you think about this Visa survey? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.