- The payments giant is figuring out if small businesses are ready to pay in digital currencies
- This year there are many crypto-supporters in different countries
- See data for different regions
VISA asked small businesses if they were ready to accept payments in cryptocurrencies. Data varies from country to country. But on average, almost a quarter of the respondents gave an affirmative answer.
The survey was conducted among 2250 small entrepreneurs … So, here are the results:
- In the United States, such readiness was announced by 20% of entrepreneurs. By the way, by the end of the year, the authorities are preparing to introduce payment in digital currencies.
- Canadian businessmen have shown the least interest in cryptocurrencies. Only 8% of respondents gave a positive answer.
- In Singapore and Brazil, every third respondent plans to implement such payments.
The most popular argument against accepting payments in cryptocurrency is the volatile exchange rate. Nevertheless, El Salvador has successfully solved this problem. When an entrepreneur accepts payments in bitcoins, they are automatically converted to US dollars. But if he wishes, a businessman can turn off the conversion and save up BTC.
A similar solution is used by the AMC cinema network. They accept payment in bitcoins, but immediately convert them into US currency. The main thing is to find a reliable provider for such operations. Probably, here VISA is hinting at its candidacy. The company is actively working to integrate crypto payments with traditional financial systems around the world.