According to a recent Deloitte report, about 75% of retailers are planning to accept cryptocurrency or stablecoin payments in the upcoming two years. Are you one of these retailers? Who can help you with secure and low-cost crypto payment processing?
Businesses Switching to Crypto Payments
Since 2008, when Bitcoin was introduced, over 220 million people have been using cryptocurrency. Now, stablecoins, a type of cryptocurrency, are gaining more popularity. Its value is based on an underlying asset, often being pegged to the U.S. dollar and other currencies or a commodity such as gold.
Though making payments via cryptocurrency is new to customers and merchants, according to 83% of retailers, customers will show more interest in digital currencies. As for retailers, over 1/2 of them have already invested over $1 million in this type of payment.
If you’re considering accepting a crypto payment, it’s critical to work with a reputable payment specialist. With a respectful payment expert, you can fast and easily access all the necessary merchant processing services, including a Bitcoin payment gateway.
Make sure the payment specialist offers cutting-edge technology allowing you to manage global payments across a single platform. Thanks to a real innovator in payment technologies, you can enjoy multi-currency processing and online payments.
Crypto Payment Processing for Merchants
The number of businesses, investors, and governments accepting cryptocurrency as a viable payment option is increasing. About 1/2 of retailers believe cryptocurrency acceptance will lead to improved customer experience and an enlarged customer base.
As of June 2022, the share of stablecoins in the crypto market was higher as compared to Ethereum (ETH), according to CoinMarketCap. In 2021, the cryptocurrency market cap reached $2.977 trillion.
Businesses interested in accepting cryptocurrency payments need to build the necessary infrastructure to process and integrate these payments. Businesses cite this as one of the biggest hindrances associated with digital currency acceptance.
Specifically, 89% of the Deloitte survey participants believe the complexity of digital currency integration with their existing financial infrastructures is one of the greatest challenges they face. This is also true of system integration across various digital currencies.
More Businesses Accepting Crypto Payments
Cryptocurrency has gained massive popularity over the last few years. More and more people and businesses are opting to invest in digital currencies. If you want to integrate a crypto offering into your operations, work with a reputable payment specialist.
Author Bio:- Content crafter Alex Wilmont has been active in the payments industry for over 15 years. He lives simply, gives generously, and loves his 2 dogs. His mission is to enhance and innovate the fintech industry for years to come.