Categories: Finance

Study: 75% of US retailers plan to accept payments in cryptocurrencies

According to a survey of US retail chain executives, 75% of retailers are going to implement support for cryptocurrency payments within two years.

The auditing firm Deloitte, with the assistance of the payment company PayPal, from December 3 to December 16, 2021 conducted interview, which was attended by 2,000 top managers of retail organizations from the United States. Then the cryptocurrency rates were noticeably higher than the current ones, but the trend itself is obvious. The survey involved the heads of various trade organizations, including grocery retailers, chains of clothing stores, appliances, pharmacy chains, and so on.

Interestingly, more than half of large retailers with a turnover of more than $500 million allocate $1 million or more to build infrastructure for cryptocurrency payments. 85% of respondents believe that digital asset payments will become popular and widespread within 5 years. Therefore, top managers expect an increase in the costs of implementing support for cryptocurrency payments.

According to researchers, the interest in cryptocurrencies comes from consumers – 64% of those surveyed declared significant interest in crypto payments. 32% of respondents reported an average level of interest, and only 2% of respondents reported a minimum demand.

Analysts emphasized that 93% of retailers who have already implemented cryptocurrency payments note their positive impact on business performance. 83% of respondents are confident that digital assets will become legal tender in the US within 10 years.

A recent survey by The Economist showed that 37% of citizens of various countries are ready to use cryptocurrencies for payments.

Source: Bits

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