Merchants are interested in crypto payment options. Gaining new customers and eliminating middlemen are the top two reasons why merchants are interested in accepting cryptocurrency or expanding their crypto payments options, according to “Paying with Cryptocurrency,” a PYMNTS and BitPay collaboration based on a survey of 2,334 consumers and 202 merchants.
The survey found that 85% of merchants say the ability to gain new customers is a reason for their interest in accepting crypto at the checkout, and 82% say the same about the ability to eliminate middlemen. Merchants in the smallest revenue category identified in the report — those with revenue under $250 million — are most interested in a better cross-border transaction experience.
Another key reason for their interest is a better cross-border transaction experience, which is cited by 60% of the merchants surveyed.