One in four small businesses plan to start accepting digital currencies such as Bitcoin this year, a new Visa poll suggests 🤩
Of course, there is an important distinction to make here. "Cashless" refers to use of credit cards and mobile-based methods such as Apple Pay — although cryptocurrencies do fall into this category, too. Visa executive Lisa Mundy explained:
"Payments are no longer about simply completing a sale. It's about creating a simple and secure experience that reflects one's brand across channels and provides utility to both the business and its customer. The digital capabilities that small businesses built up during the pandemic – from contactless to e-commerce – helped them pivot and survive and, by continuing to build on this foundation, can now help them find new growth and thrive.
It's fair to say that cryptocurrencies are yet to punch through as a payment method. The volatility of digital assets such as Bitcoin and Ether may be a big reason here — not least because they can easily rise or fall byNonetheless, PayPal now allows shoppers in the U.S. and the U.K. to use BTC, ETH, LTC and BCH at millions of merchants around the world.
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