Almost 40 Percent Of US Merchants Accept Crypto, Says PayPal Survey

• A recent PayPal survey found that almost 4 out of 10 merchants allow checkouts in cryptocurrency.
• The majority of merchants are convinced that crypto payments will be as common as fiat within the next five years.
• Most businesses will begin to accept crypto payments once they understand them and are able to set them up

Recent research by PayPal and the National Cryptocurrency Association (NCA) found that about 39 percent (4 out of 10) merchants already accept cryptocurrency payments for their products and services. These new statistics signal a significant shift in trade dynamics, with most sellers adopting a positive stance toward crypto payments and expecting them to become more widespread over the next five years.

Significant Customer Demand For Crypto Payments

According to the study, “more than four in five merchants (84%)” expect crypto payments to become more common before 2031. Customers are increasingly demanding alternative payment methods like crypto, and businesses are being compelled to expand these options.

About nine out of ten merchants were questioned about crypto payments by their customers. In addition, two out of three businesses reported that customers wanted to pay in crypto at least once every month.

ADVERTISEMENTGiven the increasing consumer interest in settling trades with crypto, most merchants now recognize that providing such options could help them attract more customers. Besides its growing recognition as a payment method, crypto is also evolving to become a parameter for business growth, since merchants with the in-demand payment infrastructure enjoy greater patronage.

“Adoption is being driven by customer demand for faster, more flexible ways to pay—and once businesses start accepting crypto, they see real value,” said May Zabaneh, Vice President and Crypto General Manager at PayPal

“When crypto payments are offered in ways that feel as familiar as cards or online payments, they become a powerful growth tool, helping businesses reach new customers and access funds more quickly.”

ADVERTISEMENTIt is estimated that between 21 and 30 percent of American adults own cryptocurrency. The number of global crypto owners is also increasing daily. In a fast-paced society, it is no longer a question of whether businesses will adapt; following the trend is non-negotiable for those who want to remain competitive moving forward.

The thing about crypto, said Coinbase CEO Brian Armstrong, is that at some point, even all the haters will be using it every day, and they won’t even realize it. This reality is catching up with the entire financial and business landscape worldwide.

Most Businesses Will Accept Crypto Once They Understand How It Works

Based on the survey, the younger generation accounts for the most demand for crypto payment options, with Gen Zs expressing greater interest, closely followed by Millennials. Interestingly, small businesses appear to receive the most inquiries.

While merchants view accepting crypto as faster, more secure, private, and good for customer retention, over 90 percent of merchants express concern over the ease of setting up crypto payments. Most of them will begin accepting crypto once they understand the process as much as they do traditional card payments.

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