A survey conducted by the “Big Four” accounting firm Deloitte indicates: That nearly 85% of executives at various US retail organizations expect digital currency payments to become “ubiquitous” in their respective industries in the next five years.
multinational professional services firm, in association with paypalconducted a survey among 2,000 senior executives from US retail organizations in sectors including cosmetic, digital goods, electronics, fashion, food and beverage, home/garden, hospitality, leisure, and transportation.
While digital currency is a broad term that includes both cryptocurrency and central bank digital currency (CBDC), the survey found that cryptocurrencies are a particularly high priority for organizations. Over 85% of respondents are giving a high or very high priority to enabling cryptocurrency payments, while almost 83% are doing the same stable coins, Nearly three quarters (75%) of respondents disclosed that they plan to accept crypto or stablecoin payments in the next two years.
Only 1% of all responding retailers have no plans to implement digital currency payments in the next two years, while 26% have already done so and 39% are planning in the next 12 months. . North of the $500 million surveyed, more than half (54%) of large retailers have invested more than $1 million in integrating digital currency infrastructure into their business.
Retailers Embrace Crypto Payments
Major retailers including reputed fashion brands guccifrench luxury brand balenciasand Elon Musk SpaceX Everyone announced last month about accepting cryptocurrency payments.
Earlier this month, PayPal expanded its crypto offering to enable users transfer cryptocurrency For external wallet, meeting a long standing demand Among crypto advocates. Meanwhile, other major payment processing companies including BandageAnd Megasoft (a Venezuelan payment processing company) has launched a crypto pilot program for its merchants.
growing popularity of cryptocurrency cardWhich enables users to spend their cryptocurrencies using traditional cards at merchants operated by Visa and MasterCard, has also fueled merchant adoption.
Deloitte’s partner Big Four accounting firm is also leaning into cryptocurrencies. Earlier this year, multinational professional services company KPMG. Canadian branch of announced that it added Bitcoin And Ethereum for its balance sheet.
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