UK merchants have ranked cryptocurrency payments among emerging customer demands, even as security and payment simplicity remain their top priorities, according to a new whitepaper released by payment technology provider DECTA.
Summary
- A DECTA survey found 11.8% of UK merchants believe customers want cryptocurrency payment options, with demand rising to 20.7% among the largest SMEs.
- More than half of surveyed UK SMEs already sell worldwide, placing greater focus on payment methods that support international commerce.
- Security remained the top payment priority for merchants, while interest in BNPL, open banking, and cryptocurrency continued to gain ground.
A new DECTA whitepaper shared with crypto.news, based on a survey of 500 UK SME decision-makers conducted by research firm Censuswide between March 13 and March 20, 2026, found that 11.8% of merchants believe their customers want the option to pay with cryptocurrency, while the figure rises to 20.7% among businesses with annual turnover between £50 million and £99.99 million.
The report placed crypto behind payment security, simplicity, speed, multiple payment options, refunds, guest checkout, Buy Now Pay Later, and open banking when merchants were asked about customer payment priorities. Payment security topped the list at 48.6%, followed by simplicity at 42.2% and speed at 37.2%. Cryptocurrency ranked eighth at 11.8%.
Scott Dawson, chief executive officer of DECTA and chairman of the Payments Innovation Forum, said alternative payment methods continue to gain traction among merchants. DECTA said BNPL emerged as a top customer priority for nearly 20% of respondents, while open banking and cryptocurrency attracted greater interest among larger businesses.
Crypto interest grows among larger businesses
According to the report, cryptocurrency remains a minority payment preference overall but carries greater weight among high-turnover merchants. The company stated that payment providers that ignore crypto risk being viewed less favorably by some of their largest merchant customers.
The survey also found that 53.8% of UK SMEs already sell products and services worldwide. At the same time, 20.2% of merchants involved in global trade said their international payments experience has deteriorated. DECTA said cross-border payment capabilities have become increasingly important as more SMEs expand beyond domestic markets.
Merchants identified slow access to funds as their most common business challenge, with 19.4% citing it as a problem. Another 16% pointed to fraud and security concerns, while 14.2% cited a lack of transparency around payment processing fees.
Meanwhile, more than half of surveyed merchants, 51.8%, said they would prioritize security over both lower fees and access to the latest payment technology. Among micro-businesses with one to nine employees, that figure climbed to 62.1%.
UK cracks down on crypto
The findings arrive as UK regulators continue to scrutinize the crypto sector. Earlier this month, the Financial Conduct Authority warned football clubs about sponsorship arrangements involving unauthorised crypto firms, arguing that such partnerships could expose supporters to financial risks and products that fall outside UK regulatory protections.
The FCA has also continued work on its broader crypto framework ahead of the UK’s planned licensing regime. Under the regulator’s current timetable, crypto firms will be able to apply for authorization from September 30, 2026, while the full cryptoasset regime is scheduled to take effect on October 25, 2027.
Separately, UK authorities sanctioned Huobi Global S.A., linked to HTX, in May as part of a Russia-focused enforcement action targeting entities allegedly connected to the A7 network. The move followed earlier FCA legal proceedings against HTX over alleged unlawful crypto promotions aimed at UK consumers.
Despite that regulatory activity, DECTA’s survey suggests a segment of UK merchants continues to view cryptocurrency payments as a relevant customer option, particularly among larger businesses with international operations.
