Large Businesses Driving Crypto Payments Adoption, PayPal Survey Finds

ccn.comPublished on 2026-01-28Last updated on 2026-01-28

Abstract

A PayPal survey conducted with the National Cryptocurrency Association reveals that 40% of U.S. merchants now accept cryptocurrency at checkout, with adoption strongest among large enterprises. Half of businesses with over $500 million in annual revenue accept crypto, compared to 34% of small businesses. The report indicates crypto payments are transitioning from experimentation to routine commerce, with 84% of merchants expecting crypto to become common within five years. Key drivers include customer demand—88% of merchants have received crypto payment inquiries—and the potential to attract new customers. However, merchants emphasize the need for crypto payment setups to be as simple as card transactions, with 90% more likely to adopt if the user experience matches traditional methods. PayPal's "Pay with Crypto" feature aims to address this by offering instant settlement and lower costs through conversion to stablecoins or fiat.

Key Takeaways

About 4 in 10 U.S. merchants (40%) now accept crypto at checkout, PayPal and the National Cryptocurrency Association said, citing a Harris Poll survey.
50% of merchants with over $500 million in annual revenue accept crypto, versus 34% of small businesses and 32% of midsize firms.
Merchants say customers are asking to pay with crypto, but most want setup and checkout to be as easy as taking card payments.

PayPal and the National Cryptocurrency Association said crypto payments are moving from edge-case experimentation toward routine checkout, with adoption strongest among large enterprises.

In a report released Tuesday, the groups said 39% of U.S. merchants surveyed already accept cryptocurrency, and 84% expect crypto payments to become common within five years.

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Crypto Adoption Driven by Growing Customer Demand

The survey points to a basic dynamic: shoppers ask, merchants follow.

Nearly 88% of merchants said they have received customer inquiries about paying with crypto, while 69% said customers want to use crypto at least monthly.

PayPal framed crypto acceptance as a practical growth lever, not a branding stunt.

May Zabaneh, PayPal’s vice president and general manager of crypto, said the data and PayPal’s customer conversations show crypto payments “moving beyond experimentation and into everyday commerce.”

Merchants also tied crypto payments to acquisition. About 79% said accepting crypto could help attract new customers, the report said.

Large enterprises are leading the shift. The survey found 50% of merchants with more than $500 million in annual revenue already accept crypto, compared with 34% of small businesses and 32% of midsize firms.

Among merchants that accept crypto, respondents said it accounts for 26% of total sales, and 72% reported their crypto-related sales rose over the past year.

The Last Mile Problem: Make It Feel Like Cards

The report suggests adoption is not only about ideology or cost. It is also about user experience.

A majority of merchants said they would be more likely to accept crypto if it looked and behaved like what they already know.

The survey found 90% would try accepting crypto if the experience matched the ease of traditional card payments, and 90% would be likely to accept crypto if the setup were as simple as accepting credit cards.

That preference for a card-like experience aligns with PayPal’s efforts to productize crypto checkout.

In July 2025, PayPal announced “Pay with Crypto,” pitching near-instant settlement and lower transaction costs for merchants by converting crypto to stablecoin or fiat at checkout.

PayPal’s published terms describe a flow where eligible customers pay from supported external wallets, crypto is converted into PYUSD when needed, and PayPal then converts PYUSD to fiat for the merchant’s business account.

The NCA’s president, Stu Alderoty, argued the constraint is not demand but comprehension, saying “interest in crypto isn’t the problem; understanding is.”

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Large Businesses Driving Crypto Payments Adoption, PayPal Survey Finds

Abstract

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