VISA reports 25% of companies want to accept bitcoin and crypto payments by 2022
2 min read
Adoption of cryptocurrencies such as bitcoin (BTC) is already well underway. However, research from Visa shows that 2022 has even more in store for mainstream crypto adoption. In fact, a whopping 25% of small businesses in 9 different countries plan to start accepting crypto payments this year.
Companies exceed consumer expectations
The survey was conducted among 2,250 small businesses in 9 different countries. These are the United States, Canada, Brazil, Singapore, Germany, Ireland, Russia, the United Arab Emirates and Hong Kong. Also, 1,000 Americans and 500 residents in each country were asked for their opinions. In doing so, the survey covers almost all continents and provides a nice picture of the average sentiment worldwide.
Visa reports that 25% of these 2,250 businesses plan to accept crypto payments by 2022. This is while among consumers, only 13% expect companies to do so. Jeni Mundy, global head of merchant sales at Visa, states that more trust seems to be emerging:
“I think more people are more confident in crypto,”
Interest in crypto especially outside North America
Furthermore, the survey revealed that it is mainly companies outside North America that are interested in accepting crypto payments. In North America, only 19% (US) and 8% (Canada) say they have these plans. In the United Arab Emirates, Singapore, Hong Kong and Brazil, the percentage is as high as 30%. Even companies that do not want to accept crypto this year may change tack later. Indeed, the survey also shows that three-quarters of companies believe that expanding payment options is “fundamental” to their business growth. Mundy argues that it is a “natural evolution” to accept crypto over time.
Visa happy with results
The results will be music to Visa’s ears. After all, the payments giant is betting big on crypto. Last year, for example, it launched a crypto consulting service. In addition, the company made a promise to continue supporting crypto.
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