Payments giant Visa conducted a survey of small businesses and found that almost a quarter of them plan to accept cryptocurrencies as a form of payments this year, the company said in a press release on 12 January.
Conducted by Wakefield Research in December 2021, the survey included 2,250 small business owners with 100 employees or fewer in Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore, United Arab Emirates, and the US.
“Of those surveyed, 24 percent said they plan to accept digital currencies such as the cryptocurrency bitcoin,” the report said.
The same study found that 82 percent of the small businesses plan to accept some form of digital option in 2022. Also, 73 percent see that accepting new forms of payments is fundamental to their business growth.
Visa also expanded its poll to include consumers which consisted of 1,000 adults from the United States and 500 respondents from each of the other eight participating countries. The response from consumers who expect to use crypto payments this year was much higher with 46 percent.
While the Visa survey found that small businesses are planning to adopt a new form of digital payment in 2022, several other multinational companies also seem to be embracing digital currency.
For instance, Elon Musk’s Tesla recently announced plans to adopt Dogecoin (DOGE) as a payment option for the company merchandise. Even Airbnb CEO Brian Chesky recently hinted that the rental company could soon accept crypto payments.
In December 2021, Visa launched crypto advisory services. Furthermore, Visa’s head of crypto recently revealed that the company partnered with 60 cryptocurrency platforms to allow consumers to spend digital currencies at over 80 million merchants worldwide.