Visa survey shows that 24% of SMBs plan to accept crypto payments

According to a survey conducted in 2021, both cryptocurrency holders and non-holders have a significant demand for cryptocurrency payment capabilities. However, half of the participants in the same research said there aren’t enough shops that accept cryptocurrency. This could change in the near future.

Almost one out of every four small and mid-size businesses (SMBs) polled by Visa stated they plan to accept cryptocurrency payments such as Bitcoin. Accepting new types of digital payment choices is a crucial element that will effect business growth in 2022, according to 73 percent of respondents in the same poll.

The survey included 2,250 small business owners from nine nations, including the United Arab Emirates, Hong Kong, the United States, and Canada. In 2022, 82 percent of these respondents said they aim to implement some type of digital payment option.

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A consumer segment of the poll included 1,500 adults from nine different markets. More than half of the respondents said they anticipate to go totally cashless in the next ten years in this section. Customers had also abandoned a purchase in physical stores when digital payments were not accessible, according to 41% of respondents.

Small businesses aren’t the only ones who want to accept bitcoin payments. Users indicated a desire for the ability to pay in cryptocurrency while booking at Airbnb in a recent Twitter survey conducted by Airbnb CEO Brian Chesky.

While most businesses are still figuring out how to accept cryptocurrency payments, a Florida eatery has already gone all-in. Crypto Street, a crypto-themed eatery, accepts all digital currencies, including meme coins and “shitcoins.”