It clearly shows that businesses of all sizes are gearing up for all kinds of crypto payments. And the vast majority believe they will become ubiquitous in the coming years. Traders are like us. Deloitte conducted this survey in partnership with PayPal, which is revealing and raising questions.
“Respondents are very optimistic about digital currencies in the consumer market and broadly agree that accepting digital currency payments is already a point of differentiation and is expected to experience broad adoption in the short term,” concludes Deloitte . Additionally, merchants see “benefits such as faster payments and cost savings”. Which shows that they are not just there for the flashy “differentiation” and are already seeing all the benefits they could reap.
As for the methodology, we report the document:
“The survey focuses on leading US companies, with annual revenues ranging from less than $ 10 million to $ 500 million and more, asking for their views on digital currency payments and the investments they have made in the payment infrastructure. as well as their plans for the coming years. “
They are therefore medium to large sized players. Deloitte does not distinguish between bitcoin and crypto, nor does it specify exactly which cryptocurrencies traders are talking about. However, the survey company is committed to separating stablecoins from the rest of the cryptocurrencies.
Results: Deloitte and Merchants
- “About two-thirds (64%) of our surveyed merchants indicated that their customers have a significant interest in using digital currencies for payments. Staggering numbers, considering the majority of the population doesn’t even know what a stablecoin is. If traders perceive this trend, it is a sure bet that it exists.
“83% predict that consumer interest in digital currency for payments will increase or increase significantly over the next 12 months. We totally agree, Deloitte.
“Over 85% of organizations place a high or very high priority on enabling cryptocurrency payments, while around 83% do the same for stablecoins. We are willing to bet that few in cryptocurrencies suspect the numbers to be like this. If so, they would be even more optimistic.
“About 85% of merchants surveyed predict that digital currency payments will be ubiquitous among providers in their industry in five years. We totally agree, Deloitte. In five years we will be living in a new universe and cryptocurrencies will be one of the catalysts.
“Nearly three-quarters of respondents said they want to accept cryptocurrency or stablecoin payments within the next 24 months. The positive attitude is there and plans are underway.
How can we not be optimistic?
Results: This is what adoption looks like
- "The vast majority of those who currently accept cryptocurrencies as payment (93%) have already seen a positive impact on their company's customer metrics, such as growing customer base and customer perception of the brand. This is the closest thing to it. unanimously, Delloite The excitement is real.
"They expect to derive value from adopting their digital currency in three distinct ways: better customer experience (48% of respondents), larger customer base (46%), and perceived brand as cutting edge (40%). None. comment on this point.
"Interestingly 86% see a significant benefit to their finances and cash management in accepting payments in digital currency." The key word here is crucial.
“In fact, 26% have already integrated digital currencies into their financial characteristics such as revenue cycle and cash flow and 61% plan to do so within the next 24 months. If the government allows it.
"More than half (54%) of large retailers (with revenue of $ 500 million or more) have invested more than $ 1 million to enable payments in digital currency, while only 6% of small retailers (with lower revenue at $ 10 million) did. How it should be, Delloite. How it should be.
"Just over a quarter (26%) of the organizations surveyed for this report have already begun integrating digital currencies into their finance department capabilities, but more than a third of respondents (39%) plan to start integrating within a Considering that holding cryptocurrencies is a high-risk ploy, these numbers are phenomenal.
And that's what Deloitte and the companies they interviewed had for us. We hope they will deliver some great new items to us sooner than expected.
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