Most US retailers give high priority to enabling crypto payments: Deloitte

moneycontrol.com:

More than 85 percent of US retailers give high or very high priority to enabling cryptocurrency payments, given the significant interest in digital solutions among the younger generations, a survey by Deloitte has shown. Roughly 83 percent are doing the same for stablecoins.

Almost three-quarters of US retail executives surveyed reported plans to accept cryptocurrency or stablecoin payments within the next 24 months, Deloitte said in a report titled Merchants getting ready for crypto, prepared in collaboration with PayPal.

The poll was focused on US consumer businesses with annual revenue ranging from below $10 million to $500 million and above.

The survey polled 2,000 senior executives at retail organisations across the US between December 3 and December 16, 2021, with all respondents from the consumer goods and services sector.

There was a 10 percent contribution from each of the following subsectors: cosmetics, digital goods, electronics, fashion, food & beverages, home/garden, hospitality & leisure, personal & household goods, services, and transportation.

The survey showed that merchants are receptive to customer needs and expectations and see benefits from embracing digital currency payments. However, factors such as infrastructure decisions, security, and the development of a regulatory framework will determine the pace at which adoption will grow.

Sentiment around crypto

Overall, 87 percent of the merchants broadly agreed that organisations accepting digital currencies have a competitive advantage.

An overwhelming majority of those who currently accept cryptocurrency as a payment instrument – 93 percent – have already seen a positive impact on their business metrics such as customer base growth and brand perception, and