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ReadersSpeak

The need for cryptocurrency acceptance to ensure they have the processes in place which
enable them to accept crypto at the checkout.
e want to thank Lorenzo Pellegrino ‒ CEO
of Skrill Ltd., Neteller and Income Access ‒ In one of our recent studies, Lost in Transaction
for sending us the following insights on the 2018: The future of payments for SMBs, we asked
W current state of cryptocurrency acceptance small-to-medium-sized businesses in the U.S., U.K.,
and the potential impact of Facebook's upcoming launch Canada, Germany, and Austria about accepting
of its own cyrptocurrency. cryptocurrencies through their online checkout.
Six percent of online businesses currently accept
The news from Facebook regarding the launch of cryptocurrencies (rising to 9 percent in the United
its own cryptocurrency is a major development for States), but a further 15 percent have ambitions
the industry. The general criticism around crypto to accept them in the next two years. There's no
has been that it is not a currency in the truest sense, doubt that developments such as the forthcoming
because of the little practical use beyond being a Facebook launch may well act as a further catalyst
store of wealth and an asset to trade. As Facebook for this adoption.
has a number of ecommerce ambitions, including
in-app checkouts via Instagram, we may see Is cryptocurrency acceptance in demand?
users have the ability to buy a variety of products What is your take on the state of cryptocurrency
through GlobalCoin and recognize the value of their acceptance today? What advantages and disadvantages
cryptocurrency in the real world. do you see for cryptopayments online and at the physical
POS? Are your merchants receiving requests from their
For cryptocurrencies to develop into a credible customers to pay via cryptocurrency? If so, what steps
alternative to fiat currencies they need to make the are you taking to enable that to happen? Let us know at
leap from simply having value to being a widely greensheet@greensheet.com.
accepted payment method, both online and on the
high street. To adapt to this shift, retailers will need