• A quarter of these small businesses plan to offer cryptocurrency payment services.
• Visa surveys will soon expire. Small merchants from these countries should consider this option in order to increase their business.

The most recent survey found that around 25% of the nine countries’ small businesses will accept cryptocurrencies for payment. Visa Inc (NYSE:). The results will be revealed.

2.250 small-business owners in the United States, Canada and Brazil were included in the survey.

According to the study, digital money may soon be universally accepted as a method of payment. Visa also interviewed 500 adults across nine countries and 1,000 adults in the US as part of the study.

“I think more people feel safer with cryptocurrencies,” said Jeni Mundy, Visa’s global director of commercial sales and acquisitions, in an interview reported by Reuters.

While cryptocurrency adoption has increased over the past two years and digital assets are becoming more popular among investors of all levels, it is not yet an accepted payment method for goods or services.

High volatility is one problem with Bitcoin’s full retail use. Bitcoin dropped just over 5 percent Monday, to close below $ 40.000 Wednesday 14:27 UTC The unit was able to recover and reached $ 43,787.36.

The survey found that small businesses outside North America are open to accepting cryptocurrencies as payment for goods and services.

This year, more than 30 percent of merchants in Brazil, Singapore, Hong Kong, and the United Arab Emirates will offer this option to customers.

Traders are aware that cryptocurrencies’ increasing usage is creating a large market. Even though there’s no one regulatory structure in every country where cryptocurrencies can be used for trading or exploitation,

The Flipside

• According to the Visa survey however, less small businesses are planning to accept crypto payments by 2022 in both the US and Canada. Only 19% (US) of the merchants surveyed said that they would, while only 8% in Canada.

What You Need to Care About

• In these countries, 3 out 4 businesses surveyed recognized the necessity to integrate cryptocurrency payments to offer more options for customers. Merchants consider it “essential” to do so to boost their business growth.

Mundy believes that the acceptance of this payment option worldwide by small businesses could be considered a natural development. Mundy said they’re also researching other types of payments they might be able to accept and those they should avoid.

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