As is widely known, PayPal and Square have announced they are accepting cryptocurrency at POS as a means of payment, while Visa and Mastercard have also recently confirmed they will accept crypto. Square’s CashApp, a person-to-person (P2P) money transfer solution, now allows users to send and receive either crypto-to-crypto, or to send crypto and receive fiat and vice versa.
Although holding crypto does not equate to using it for payment, the recent explosion in those using crypto – now estimated at more than 100 million people globally, and rising by 30 percent a month – will inevitably lead to greater demand for crypto acceptance in both retail and wholesale (B2B) payments.
Across the board – from bank accounts, to POS and ATM systems, cards and money transfer – there’s evidence that industry is anticipating and responding to this demand.
Big names like Microsoft, AMC, Starbucks, and AT&T are in, but what do small businesses think? The Strawhecker Group (TSG) used new survey data from nearly 600 small businesses in the US to illustrate their knowledge, attitudes, and acceptance of cryptocurrency.
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