How Are Businesses Approaching Cryptocurrency Payments?

How are businesses approaching cryptocurrency payments? Visa has answers to this question thanks to a survey.

2021 has been a period of great rise, especially as giant financial institutions such as Visa and PayPal started to adopt cryptocurrencies. These developments bring many businesses to look at cryptocurrencies warmly. A survey conducted by Visa in 9 countries such as the USA, Canada and Germany proved that businesses are looking forward to cryptocurrency payments. In addition, individuals seem to have warmed to cryptocurrency payments. According to the survey, 19 percent of SMEs in the US and 8 percent in Canada want to start paying for cryptocurrencies this year. This rate rises to 30 percent in the UAE, Brazil, Hong Kong and Singapore. On the other hand, 75 percent of the surveyed enterprises see the addition of new ways to payment systems as inevitable. On the individual side, about 5000 people were asked questions and it was revealed that people approach cryptocurrencies with more confidence than in the past. Visa executives believe that these two important criteria will be a supporting factor in the adoption of cryptocurrencies. Since Visa itself supports cryptocurrency payments, it would not be wrong to say that this survey is also important for the company's strategy.