85% OF MERCHANTS SEE CRYPTO PAYMENTS AS A WAY TO REACH NEW CUSTOMERS: SURVEY

Last updated: June 20, 2025, 00:06 | Written by: Brian Kelly

Imagine a world where your business seamlessly connects with a global audience, sidestepping traditional banking hurdles and embracing the future of finance.It's closer than you think! In the report titled Paying With Cryptocurrency, the researchers found that among businesses with an annual income of $1 billion, 85% are adopting crypto payments to find and gain new customers.According to a recent survey, a staggering 85% of merchants believe that accepting crypto payments is a powerful strategy for reaching new customers. Burger King franchises in Brazil and Venezuela allow customers to pay for for merchants. Notably, a recent survey revealed that 55% of Generation Z and 49% of Millennials earning over $100,000This isn't just a fleeting trend; it's a fundamental shift in how businesses perceive and utilize digital currencies. Per the survey, 85% of retailers expect that crypto payments will be ubiquitous in their respective industries in five years to come. Additionally, 73% of those making between $10M to less than $100M plan on enabling digital currency payments, with a $100,000 $1M budget.The survey, conducted by PYMNTS in collaboration with Bitpay, highlights the growing confidence in cryptocurrencies as a legitimate payment method.The implications are massive, suggesting that early adoption could provide a significant competitive advantage, especially for businesses looking to expand their reach and tap into a new generation of tech-savvy consumers.This article delves into the survey findings, exploring the reasons behind this surge in crypto adoption and offering actionable insights for businesses considering integrating digital currencies into their payment systems.Are you ready to unlock the potential of crypto payments and expand your customer base? In a report titled Paying With Cryptocurrency, researchers concluded that among companies with annual revenue of $1 billion, 85% use crypto payments to find and attract new customers. At the same time, 82% of all merchants who took part in the survey think that the elimination of intermediaries is the important reason for using digital assetsLet's explore!

The Rise of Crypto Payments: Attracting a New Customer Base

The allure of cryptocurrency payments extends beyond mere novelty.Businesses are increasingly recognizing the tangible benefits of embracing digital assets, particularly in terms of customer acquisition. A survey by Deloitte found that 85% of merchants see crypto payments as a way to reach new customers. Risks of accepting cryptocurrency payments. While accepting crypto payments is often seen as a win-win, businesses must also be aware of potential risks in doing so on their own, without proper accounting systems and crypto processing partners.This trend is fueled by a desire to connect with a growing segment of the population that actively uses and prefers crypto.The survey underscores this sentiment, revealing that a significant majority of merchants view crypto as a gateway to new markets and demographics.

Why Are Merchants So Optimistic About Crypto?

Several factors contribute to the positive outlook on crypto payments.The most prominent reasons include:

Access to New Demographics: Crypto is particularly popular among younger, tech-savvy consumers, including Generation Z and Millennials.Notably, surveys reveal that a significant percentage of high-earning individuals in these demographics are already using or interested in using crypto.
Borderless Transactions: Crypto transcends geographical boundaries, enabling businesses to easily accept payments from customers worldwide without the complexities of traditional international banking.This is especially beneficial for small and medium-sized enterprises (SMEs) looking to expand their global footprint.
Faster Transaction Speeds: Compared to traditional banking systems, crypto transactions can often be processed much faster, reducing wait times for both merchants and customers.
Lower Transaction Fees: This is a major draw for merchants, as crypto transaction fees are typically lower than those charged by credit card companies and other payment processors.The report noted that crypto payment fees are around 1%, much lower than other payment options that charge between 1.5% and 3.5%.
Elimination of Intermediaries: Crypto transactions operate on a decentralized blockchain network, removing the need for intermediaries like banks and payment processors. Of the merchants that do not accept crypto yet, 68% said that this is because of the challenges that they face in the implementation of the technology at the checkout. Goods and serviceThis not only reduces fees but also increases transparency and control for both parties involved. 82% of merchants highlight the removal of intermediaries as a key reason for adopting crypto payments.

Burger King franchises in Brazil and Venezuela accepting crypto is a real-world example of this trend.By embracing digital currencies, they are catering to a growing segment of their customer base and positioning themselves as forward-thinking businesses.

Reduced Transaction Fees: A Major Incentive for Crypto Adoption

Beyond attracting new customers, the potential for cost savings is a significant driver of crypto adoption among merchants.Traditional payment methods often come with hefty transaction fees that can eat into profit margins. Cryptocurrency payments, on the other hand, offer a more cost-effective alternative.

How Much Can Merchants Save With Crypto?

As mentioned earlier, crypto transaction fees are generally lower than those charged by traditional payment processors.This can translate to substantial savings for businesses, especially those with high transaction volumes. This is one of the ways Atlantic, with our regulated bank and digital asset financial institution, separates itself from fintech platforms - white glove treatment with agreements that can beWhile the exact savings will vary depending on the specific cryptocurrency used and the payment processor chosen, the potential for reduced fees is undeniable.

Furthermore, using crypto can reduce the costs associated with float and the need to wait multiple days for settlements. In a survey by PYMNTS and BitPay, 85% of the merchants are adopting crypto payments to find and gain new customers with reasons being: 1.Crypto s elimination of middlemen 2. Low Transaction FeesThis improved cash flow management can be a significant advantage for businesses of all sizes.

Preparing for the Future: Crypto's Ubiquitous Role in Retail

The survey also reveals a growing consensus among merchants that crypto payments will become increasingly commonplace in the future. Related: 85% of merchants see crypto payments as a way to reach new customers: Survey The Philippines had the most merchants in Southeast Asia, and there were virtually none across China, IndiaA substantial 85% of retailers expect that crypto payments will be ubiquitous in their respective industries within the next five years.This forward-looking perspective suggests that businesses are not just experimenting with crypto; they are actively preparing for a future where digital currencies are a mainstream payment option.

Investing in Crypto Infrastructure

To prepare for this future, businesses are starting to invest in the infrastructure needed to support crypto payments.This includes:

Integrating crypto payment gateways: Partnering with crypto payment processors like Bitpay to enable seamless acceptance of digital currencies.
Training staff: Educating employees on how to handle crypto transactions and address customer inquiries.
Updating accounting systems: Ensuring that accounting systems can accurately track and manage crypto transactions.

For instance, the survey highlights that 73% of businesses making between $10 million and $100 million plan on enabling digital currency payments, allocating a budget of $100,000 to $1 million for this purpose.

Overcoming Challenges: Addressing Concerns About Crypto Implementation

While the potential benefits of crypto payments are clear, businesses also face certain challenges when implementing this new technology.According to the survey, 68% of merchants who do not yet accept crypto cite implementation challenges as a major barrier.

Common Challenges and Solutions

These challenges can include:

Technical complexity: Integrating crypto payment gateways can require technical expertise and resources.
Solution: Partnering with a reputable crypto payment processor can simplify the integration process and provide ongoing technical support.
Volatility: The value of cryptocurrencies can fluctuate significantly, which can be a concern for merchants.
Solution: Some payment processors offer options to automatically convert crypto payments into stablecoins or fiat currency, mitigating the risk of volatility.
Regulatory uncertainty: The regulatory landscape for cryptocurrencies is still evolving, which can create uncertainty for businesses.
Solution: Staying informed about the latest regulatory developments and consulting with legal and financial experts can help businesses navigate this uncertainty.
Security concerns: Ensuring the security of crypto wallets and payment systems is crucial to protect against fraud and theft.
Solution: Implementing robust security measures, such as multi-factor authentication and encryption, can help mitigate these risks.

Addressing these challenges requires careful planning, due diligence, and a willingness to adapt to the evolving crypto landscape.

The Competitive Edge: Early Adoption of Crypto Payments

For businesses that are willing to embrace the challenges and invest in the necessary infrastructure, early adoption of crypto payments can provide a significant competitive advantage. A data platform has partnered with Bitpay to interview merchants about cryptocurrency, and 85% of them see it as a way to attract new customersBy being among the first to offer this payment option, businesses can:

Attract early adopters: Cater to a growing segment of consumers who actively seek out businesses that accept crypto.
Enhance brand image: Position themselves as innovative and forward-thinking, attracting customers who value these qualities.
Gain a first-mover advantage: Establish a strong foothold in the emerging crypto payments market, making it more difficult for competitors to catch up.

Actionable Advice for Businesses

Here are some actionable steps that businesses can take to explore and implement crypto payments:

Conduct thorough research: Understand the different cryptocurrencies, payment processors, and regulatory requirements.
Choose a reputable payment processor: Select a processor that offers the features, security, and support that your business needs.
Start small: Begin by accepting crypto payments for a limited range of products or services.
Promote crypto payments: Let your customers know that you accept crypto and highlight the benefits of using this payment option.
Monitor and adapt: Track the performance of your crypto payments program and make adjustments as needed.

Understanding the Risks of Accepting Cryptocurrency Payments

While embracing crypto payments offers numerous advantages, businesses must also be aware of the potential risks. 85% of merchants see crypto payments as a way to reach new customers: SurveyThese risks should be carefully considered and mitigated to ensure a smooth and secure payment process.

Common Risks Associated with Crypto Payments

Price Volatility: The fluctuating value of cryptocurrencies can impact the actual revenue received if not immediately converted to a stable currency.
Security Threats: Crypto wallets and payment systems are vulnerable to hacking and theft if not properly secured.
Irreversible Transactions: Crypto transactions are typically irreversible, meaning that fraudulent or mistaken payments cannot be easily recovered.
Regulatory Uncertainty: The lack of clear regulatory guidelines can create legal and compliance risks for businesses.

To mitigate these risks, businesses should:

Utilize reputable crypto payment processors: Choose processors with robust security measures and risk management protocols.
Implement strict security measures: Secure crypto wallets and payment systems with multi-factor authentication and encryption.
Establish clear policies and procedures: Develop guidelines for handling crypto transactions, refunds, and disputes.
Stay informed about regulatory developments: Monitor changes in crypto regulations and ensure compliance.

Case Studies: Businesses Successfully Embracing Crypto Payments

Several businesses have already successfully integrated crypto payments into their operations, demonstrating the potential benefits of this technology. In fact, one recent survey found that 85% of surveyed merchants see crypto payments as a way to reach new customers, while 77% said they are accepting crypto because of its lower transaction fees.8. Introducing crypto now may help spur internal awareness in your company about this technology.Analyzing these case studies can provide valuable insights for other businesses considering crypto adoption.

Examples of Successful Crypto Integrations

Overstock: An early adopter of Bitcoin, Overstock has seen increased sales and customer engagement by offering crypto payments.
Microsoft: The tech giant allows customers to use Bitcoin to purchase Xbox content and other digital goods.
Whole Foods Market: The grocery chain accepts crypto payments through a partnership with a digital payment provider.

These examples demonstrate that businesses across various industries can successfully integrate crypto payments and reap the benefits.

Crypto Communities: A Powerful Source of New Customers

The cryptocurrency community is a vibrant and engaged group of individuals who are passionate about digital assets. While the market goes steady, the crypto ecosystem continues to grow as merchants innovate and adopt cryptocurrency payments in their quest to gain new customers.Data platform PYMNTS collaborated with Bitpay to survey merchants.In the report titled Paying With Cryptocurrency, the researchers found that among businesses with an annual income of $1 billion, 85% are adopting crypto paymentsBy accepting crypto payments, businesses can tap into this community and attract new customers who are eager to support crypto-friendly merchants. In the report titled Paying With Cryptocurrency, the researchers found that among businesses with an annual income of $1 billion, 85% are adopting crypto payments to find and gain newThe CryptoCurrency community, with its millions of subscribers, is a testament to the growing interest in this space.

Engaging with the Crypto Community

Here are some ways to engage with the crypto community and attract new customers:

Participate in online forums and social media groups: Share information about your business and offer discounts or promotions to crypto users.
Sponsor crypto-related events: Increase brand awareness and connect with potential customers in person.
Partner with crypto influencers: Leverage the reach and credibility of influencers to promote your business to the crypto community.

By actively engaging with the crypto community, businesses can build brand loyalty and drive sales.

Conclusion: Embracing the Future of Payments

The survey results are clear: 85% of merchants recognize the potential of crypto payments to reach new customers.While challenges exist, the benefits of embracing digital currencies, including lower transaction fees, access to new demographics, and a competitive edge, are undeniable.The future of payments is evolving, and businesses that are willing to adapt and embrace new technologies like crypto will be best positioned for success.By understanding the trends, addressing the challenges, and actively engaging with the crypto community, your business can unlock the full potential of cryptocurrency payments.Are you ready to take the leap and join the growing number of merchants who are embracing the future of finance? 6.8M subscribers in the CryptoCurrency community. The leading community for cryptocurrency news, discussion, and analysis.The time to act is now.