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Crypto Payment Demand Hits 20% Among Top UK SMEs
A DECTA survey shows 20.7% of UK SMEs with £50M+ turnover report customer demand for crypto payments, even as security remains the top priority and regulators tighten oversight.
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One in five of the UK's largest small and medium enterprises say customers want to pay with cryptocurrency, according to a survey by payment technology firm DECTA.
Among businesses with annual turnover between £50 million and £99.99 million, that share rises to 20.7%. Across all 500 UK SME decision-makers surveyed by research firm Censuswide, 11.8% said customers seek the option to pay with crypto.
Payment security remains the top merchant priority at 48.6%, followed by simplicity at 42.2% and speed at 37.2%. Cryptocurrency ranked eighth, behind payment security, simplicity, speed, and several other features including Buy Now Pay Later, open banking, and guest checkout.
Scott Dawson, DECTA's CEO and chairman of the Payments Innovation Forum, said alternative payment methods are gaining traction. BNPL emerged as a top customer priority for nearly 20% of respondents. Open banking and cryptocurrency drew more interest from larger businesses.
DECTA argued that payment providers ignoring crypto risk losing favor with some of their largest merchant clients. The survey suggests crypto remains a minority preference overall. It carries more weight among high-turnover merchants.