Small businesses in 9 countries schedule crypto adoption

Payment processor Visa surveyed 2,250 small business owners from nine countries across the globe, including the US, Canada, Brazil, and Singapore

A Visa poll estimated that roughly every fourth small business owner from nine nations has cryptocurrency adoption scheduled on their 2022 agenda.

According to a recent survey conducted by the payment processor giant, almost a quarter of the participants across nine nations said they intend to embrace digital currencies as a form of payment sometime this year. Furthermore, 13% of consumers in these countries predicted retail stores will begin allowing crypto settlements in the following 12 months.

As reported by Reuters, Visa surveyed 2,250 small business owners from nine countries across the globe, including the US, Canada, Brazil, and Singapore. Per the results, every fourth participant plans to embrace bitcoin or some alternative coins as a payment method before the end of the ongoing year.

Visa estimated that over 30% of the small business merchants based in the United Arab Emirates, Hong Kong, Singapore, and Brazil intend to enable cryptocurrency options to clients in the coming months. In contrast, 19% of those in the US and just 8% in Canada plan to do the same.

The payment processing organization also interviewed 1,000 American adults who are not in charge of companies, along with 500 more people from each other country. Nearly 13% of those 1,500 individuals anticipate retail stores to begin offering digital asset payments in 2022.

Jeni Mundy, Visa’s Global Head of merchant sales and acquiring, said: Many owners of businesses worldwide view the embracement of new forms of payments as ‘fundamental’ to their companies’ growth. She added that accepting cryptocurrencies also come as a ‘natural evolution’ for many smaller firms.

I think more people are feeling more confident with crypto, Mundy concluded.