25% of Small Businesses in 9 Countries Plan to Accept Crypto Payments in 2022 (Visa Study)

A recent survey by Visa found that almost 25% of participants in nine countries indicated they plan to accept digital currencies as a method of payment within the next year. A further 13% of these consumers predicted that retail stores would allow crypto settlements within the next 12 months.

“People Feel More Confident With Crypto”

According to Reuters, Visa surveyed 2250 small business owners in nine countries, including the United States of America and Canada. According to the survey, every fourth participant intends to adopt bitcoin or other coins as a payment option before the end the current year.

It is worthwhile to observe the percentage rates in different countries. Visa estimates that more than 30% of small-business merchants in Brazil, Hong Kong, Singapore and Hong Kong intend to offer cryptocurrency options to their clients over the next few months. Contrary to this, only 19% of US merchants and 8% in Canada intend to do so.

In addition to interviewing 1,000 Americans, 500 people from other countries were also interviewed by the payment processing company. Nearly 13% of the 1,500 respondents expect retail stores to offer digital asset payments by 2022.

Jeni Mundy, Visa’s Global Head for Merchant Sales and Acquiring, stated that many business owners worldwide consider the acceptance of new forms of payment to be fundamental to their company’s growth. Accepting cryptocurrencies is also a natural evolution for smaller businesses, she said.

Mundy stated that crypto is gaining more confidence.

doption Blossomed 2021

It’s safe to say that cryptocurrency adoption has flourished over the past twelve months, as many giant companies have allowed customers to pay using digital assets. Examples of such examples are Konzum and Elektra, the largest supermarket chains in Mexico and Croatia.

Even Tesla, the largest electric vehicle manufacturer, started accepting bitcoin payments last year. The company stopped the initiative due to environmental concerns a few months later.

The most notable example of this adoption in 2021 was El Salvador’s official recognition of bitcoin as legal currency within its borders.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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