Cryptocurrency Payment Trends Among UK Merchants
A recent report from DECTA, a payment technology firm, reveals that cryptocurrency payment options are becoming increasingly sought after by UK merchants, despite security and payment ease being their primary concerns. Conducted by Censuswide between March 13 and March 20, 2026, the survey included 500 decision-makers from small to medium-sized enterprises (SMEs).
Survey Findings
Results indicated that 11.8% of all surveyed merchants recognize a customer preference for crypto payments, with this number rising to 20.7% among businesses generating annual revenues between £50 million and £99.99 million.
Despite this interest in cryptocurrency, it ranked below several other payment priorities according to the report. Payment security was highest at 48.6%, followed by simplicity (42.2%) and speed (37.2%). Other priorities included various payment options, guest checkout, Buy Now Pay Later (BNPL), and open banking, pushing cryptocurrency to an eighth-place ranking.
Insights from DECTA’s CEO
Scott Dawson, the CEO of DECTA and chairman of the Payments Innovation Forum, emphasized that alternative payment options are gaining momentum among merchants. Notably, BNPL is favored by nearly 20% of respondents, particularly more so among larger firms that are also taking an interest in both open banking and cryptocurrency.
International Sales and Payment Challenges
The report underlines that while cryptocurrency remains a less common payment choice overall, it holds more significance for high-revenue companies. DECTA cautioned that payment service providers who overlook crypto may face repercussions, as they might be judged unfavorably by some of their most prominent merchant clients.
Additionally, the survey revealed that over half (53.8%) of the UK SMEs already engage in selling their goods and services internationally, although 20.2% noted a decline in their international payment experiences. DECTA highlighted the growing importance of cross-border payment solutions as SMEs shift away from local markets. The main hurdle cited by merchants was delayed access to funds, affecting 19.4% of respondents, followed by security concerns (16%) and a lack of payment processing fee transparency (14.2%).
Security Concerns
Security remains paramount, with 51.8% of merchants stating it would take precedence over reduced fees and access to advanced payment technologies; this concern was even more pronounced among micro-businesses, where 62.1% expressed similar sentiments.
Regulatory Landscape
These findings emerge as UK regulators remain vigilant over the cryptocurrency sector. The Financial Conduct Authority (FCA) has recently warned football clubs regarding sponsorship arrangements with unauthorized crypto firms, stating such deals could pose financial risks to fans and involve products not covered by UK regulations. The FCA is also advancing its framework ahead of a licensing regime set to begin on September 30, 2026, with a complete crypto asset regulatory regime expected to be implemented by October 25, 2027.
Separately, in May, UK authorities took action against Huobi Global S.A. related to potential links with Russian entities, following previous FCA legal actions against HTX over unauthorized crypto promotions targeting UK consumers. Nevertheless, DECTA’s findings suggest that a significant portion of UK merchants, especially those with sizeable international operations, still see value in offering cryptocurrency payment options.
