Nearly four in ten U.S. merchants now accept cryptocurrency at checkout, reflecting growing consumer interest in using digital assets for payments, according to a recent PayPal survey.
PayPal reported on Tuesday that close to nine in ten U.S. merchants have received customer inquiries about paying with crypto, citing data from a National Cryptocurrency Association survey.
The survey, conducted in October, included responses from 619 payment-strategy decision-makers across a range of industries.
“What we’re seeing in both the data and our conversations with customers is that crypto payments are moving beyond experimentation and into everyday commerce,” said May Zabaneh, PayPal’s vice president and general manager.
“Adoption is being driven by customer demand for faster, more flexible ways to pay — and once businesses start accepting crypto, they see real value.“
The survey also found that 84% of merchants believe crypto payments will become mainstream within the next five years.
Respondents cited the potential for cryptocurrency to reshape everyday payments by enabling faster, cheaper, more transparent, and more secure transactions than traditional payment methods—benefits that could appeal to both consumers and businesses.
PayPal launched a crypto checkout tool in July that allows U.S. merchants to accept payments in more than 100 cryptocurrencies.
Adoption is currently strongest among large enterprises, according to the survey, while 32% of midsized businesses and 34% of small companies said they already accept crypto payments.
Major U.S. companies that support crypto payments include Starbucks, Walmart, and Home Depot.
Among merchants that already accept cryptocurrency, crypto payments account for 26% of total sales, indicating that customers are both willing and able to use digital assets when given the option.
Younger consumers are driving much of this adoption, with millennials and Gen Z emerging as the most crypto-savvy shoppers. Industry uptake is strongest in hospitality and travel, digital goods, and gaming, which currently lead overall adoption.
However, PayPal said broader adoption will depend on simplifying crypto payment infrastructure. The company noted that 90% of merchants said they would consider accepting cryptocurrency if the process were as straightforward as credit card payments.
“What this data makes clear is that interest in crypto isn’t the problem—it’s understanding,” said Stu Alderoty, president of the National Cryptocurrency Association and chief legal officer at Ripple.
