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Visa survey shows quarter of world’s businesses are open to crypto payment this year

A survey made by Visa shows that nearly 25% of small companies from nine nations want to accept crypto as payment in 2022. Accepting new forms of payment, on the other hand, was described as “essential” to growth by almost three-quarters of firms polled by Visa.  Meanwhile, 13% of customers in those countries believe that […]

The post Visa survey shows quarter of world’s businesses are open to crypto payment this year appeared first on BitcoinerX.

A survey made by Visa shows that nearly 25% of small companies from nine nations want to accept crypto as payment in 2022.

Accepting new forms of payment, on the other hand, was described as “essential” to growth by almost three-quarters of firms polled by Visa. 

Meanwhile, 13% of customers in those countries believe that more retail locations will take cryptocurrency this year.

Crypto payments popular among small economies

Visa polled 2,250 small company owners in nine countries: the US, Brazil, Singapore, Canada, Germany, Ireland, and Russia. 

A total of 1,000 individuals in the United States, as well as 500 people from each of the nine nations, took part in the poll. 

Jeni Mundy, Visa’s global head of merchant sales and acquiring, said, “I think more people are feeling positive with crypto.”

Crypto payments are more popular among smaller economies, according to Visa.

Per the survey’s findings, small companies outside of North America appear to be more open to accepting digital currencies as payment. 

In the United States, 19% of small businesses plan to accept cryptocurrency as a payment option this year, while only 8% of small firms in Canada intend to do so.

However, Visa discovered that in the United Arab Emirates, Hong Kong, Singapore, and Brazil, that figure soared to above 30%. 

New types of digital payments

Despite differing degrees of regulation, digital currencies have been increasingly popular in each of those jurisdictions over the past year.

Many smaller businesses migrating to new kinds of digital payments, according to Mundy, may find that adopting crypto is a natural step.

The same may be said about emerging markets, which explains their sporadic popularity. 

“What more types of payment can we accept?” these businesses wonder. What other forms “should we think about?” Mundy said.

Visa began offering crypto advice services as part of its Consulting & Analytics division last month.

 

Image courtesy of Cointelegraph News/YouTube

The post Visa survey shows quarter of world’s businesses are open to crypto payment this year appeared first on BitcoinerX.

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Source: https://bitcoinerx.com/blockchain/visa-survey-shows-quarter-of-worlds-businesses-are-open-to-crypto-payment-this-year/

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