Restaurants May Not Be Ready to Meet Demand for Crypto Payments
Despite consumers increasingly mixed personal feelings toward cryptocurrencies, PYMNTS data shows that while those who own crypto and are ready to spend it may be in for a surprise if they try to do in their favorite local restaurant.
That because most establishments are still not ready to meet this demand.
By the Numbers
Research from PYMNTS’ August study “Paying With Cryptocurrency: Can Crypto At Checkout Become A Profit Center For Merchants?” created in collaboration with BitPay, which draws from a survey of more than 2,300 U.S. consumers, finds that 56% of crypto owners are likely to use cryptocurrency to make purchases from restaurants or food delivery services.
On the Other Hand
Notably, it would seem that, despite this interest expressed, restaurants that have made moves to accept crypto appear to not be seeing those bets pay off. Take, for instance, Bored & Hungry, a crypto-themed restaurant based in Los Angeles, which was recently reported not to be accepting crypto as a form of payment anymore.
Related news: LA Restaurant Themed on Bored Ape NFT No Longer Accepts Crypto
The report noted that many customers “did not seem to care” about the crypto pay options, not using them much.
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