Deloitte’s research makes it clear that crypto payments are the next big thing in commerce

Deloitte’s research makes it clear that crypto payments are the next big thing in commerce

New Deloitte research titled “Traders are gearing up for cryptocurrencies” contains extremely bullish news. It clearly shows that companies of all sizes are gearing up for all types of crypto payments. And the vast majority believe they will become ubiquitous in the next few years. Merchants, they are like us. Deloitte produced a survey in collaboration with PayPal, which is impressive and raises questions.

“Survey respondents are very optimistic about digital currencies in the consumer market, reporting broad agreement that accepting digital currency payments is already a point of differentiation and that widespread adoption is expected in the near future,” Deloitte concluded. In addition, merchants also see “benefits such as payment speed and cost efficiency.” Which shows that they are not just for flashy “differentiation”, but see all the benefits it could bring them.

Regarding the methodology, let’s quote the document:

“The survey focuses on U.S. consumer companies, with annual revenues ranging from under $10 million to $500 million and more, asking for their opinions on digital currency payments and the investments they have made in payment infrastructure, as well as their plans for the coming years. ”

So here we are dealing with medium and large sized players. Deloitte does not distinguish between bitcoins and cryptocurrencies, and does not specify which cryptocurrencies traders are talking about. However, the research company seeks to separate stablecoins from other cryptocurrencies.

Results: Deloitte and marketers

  • “About two-thirds (64%) of our surveyed merchants indicated that their customers have significant interest in using digital currencies for payments.” These are staggering numbers, considering the majority of the population doesn’t even know what a stablecoin is. If marketers are noticing this trend, chances are it exists.
  • “83% expect consumer interest in digital currencies for payments to increase or increase significantly in the next 12 months.” We agree wholeheartedly, Deloitte.
  • “More than 85% of organizations place a high or very high priority on enabling cryptocurrency payments, while roughly 83% do the same for stablecoins.” We’re willing to bet that few people in crypto have any doubts that the numbers are this high. If they did, they would be even more bullish.
  • “About 85% of merchants surveyed expect digital currency payments to be ubiquitous among suppliers in their industry in five years.” We agree wholeheartedly, Deloitte. In five years we will live in a new universe, and crypto will be one of the catalysts.
  • “Nearly three-quarters of those surveyed reported plans to accept either cryptocurrency or stablecoin payments in the next 24 months.” A positive attitude is present and plans are underway.

How could he not be bullish?

AVAX price chart on Bittrex | Source: AVAX/USD on

Results: This is what adoption looks like

  • “The vast majority of those currently accepting cryptocurrency as a payment instrument (93%) have already seen a positive impact on customer metrics in their business, such as growing user base and brand perception.” This is almost as unanimous as we are. you will, Delloite. The hype is real.
  • “They expect to gain value from digital currency adoption in three distinct ways: improved user experience (48% of respondents), increased customer base (46%) and perceived brand excellence (40%).” No comments on this one.
  • “It’s worth noting that 86% see a significant benefit to their finances and cash management for accepting digital currency payments.” The key word is efficiency, and that is key for businesses. Even a small percentage increase can make a huge difference overall. And crypto offers significant upside.

Results: Integration and holding according to Deloitte

  • “In fact, 26% have already integrated digital currencies into their financial functions such as revenue cycle and treasury, and 61% plan to do so in the next 24 months.” If the government allows it, that is also a key aspect. Accepting cryptocurrency is one thing, holding it is a level or two above that.
  • “More than half (54%) of large merchants (with revenues of $500 million and more) have invested more than $1 million in enabling digital currency payments, while only 6% of small merchants (with revenues of less than $10 million) have did.” As it should be, Delloite. As it should be.
  • “Just over a quarter (26%) of organizations surveyed for this report have already begun integrating digital currency into their finance department’s functionality, but more than a third of respondents (39%) plan to begin integration within a year.” Considering that holding cryptocurrencies is a high-risk maneuver, these are phenomenal numbers.

And that’s what Deloitte and the companies they interviewed had for us. Here’s hoping they provide us with new stunning material sooner rather than later.

Featured Image: Screenshot from the study | Charts by TradingView

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