Page 8 - GS190601
P. 8


        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
              accepted payment method, both online and on the
              high street. To adapt to this shift, retailers will need
   3   4   5   6   7   8   9   10   11   12   13