US Merchants See Crypto Payments Moving Into Daily Use, PayPal Says

Nearly nine in ten US merchants say customers have asked about paying with crypto, according to a PayPal report released Tuesday. The data comes from a National Cryptocurrency Association survey run in October with 619 payment decision makers across retail, travel, gaming, and digital services.

PayPal vice president and general manager May Zabaneh said crypto payments are no longer a test case for many businesses. She said merchants are responding to demand for faster and more flexible payment options. Once crypto is added at checkout, many businesses see steady usage from customers.

The survey found that 84% of merchants believe crypto payments will become common within the next five years.

Large Firms Lead

Crypto payment use is highest among large enterprises. Still, uptake is spreading across company sizes. About 32% of midsized businesses and 34% of small businesses now accept crypto payments.

Major US brands such as Starbucks, Walmart, and Home Depot already support crypto in some form. Among merchants that accept crypto, these payments account for about 26% of total sales. This shows that customers use crypto when it is offered, rather than treating it as a novelty.

PayPal launched its crypto checkout tool in July. The system allows US merchants to accept payments in more than 100 cryptocurrencies while settling in local currency. This removes price risk for sellers and limits exposure to market swings.

Younger Shoppers Push Usage

Millennials and Gen Z are driving most crypto payment activity. These groups are more familiar with digital wallets and blockchain based tools. The hospitality and travel sector, digital goods, and gaming lead overall usage among industries surveyed.

PayPal said crypto payments can move faster and cost less than card based systems, while also offering clearer transaction records. These features appeal to both buyers and sellers, especially in online commerce.

Despite rising interest, many merchants still face setup issues. PayPal said 90% of merchants would consider accepting crypto if it worked as simply as credit cards.

National Cryptocurrency Association president Stu Alderoty said the issue is not lack of interest. He said many businesses still struggle to understand how crypto payments fit into daily operations.