Crypto for Payments: Consumers are Hungry – Will Merchants be Able to Fill their Appetite?

Crypto.com and WorldPay from FIS have found that the appetite for spending and accepting crypto payments is large. This joint report gives insights into customer and merchant demand by the industry.

Both customers and merchants have a growing desire to transact with crypto within the next year: 75% of Crypto.com customers want to purchase goods or services with cryptocurrency, while 60% of Worldpay from FIS merchants have the appetite to accept cryptocurrency for goods or services.

As merchants begin to adopt crypto payments, currency preference will be an important factor. Both customers and merchants have expressed a desire to transact with the highest market cap currencies and stablecoins which are less volatile and offer increased scalability thanks to the Layer 2 solutions that are being introduced.   

All major industries exhibit a level of appetite to accept cryptocurrency as payment, most notably retail & luxury goods businesses; customer preferences are more evenly distributed across industries. These findings confirm the customers’ desire to use cryptocurrency as a general payment method both online and in store.