This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
11/28/2022
What SMBs Need to Know About Accepting Crypto
PYMNTS.com
Back in October — in what seems a lifetime ago in the cryptocurrency world — PYMNTS and BitPay’s “Shopping With Cryptocurrency” study found that “tech-driven” consumers, representing roughly 15% of all consumers and 22% of past or present cryptocurrency holders, are the most likely to transact with it.
But now, as FTX hauls itself into bankruptcy court, other crypto exchanges shudder and bitcoin hovers at $16,000, merchants must ask an existential question: Do I accept crypto, or not?
It might make sense that as bitcoin and its brethren are volatile, consumers may hold off on using their holdings to buy goods and services. The purchasing power of those digital coins fluctuates day to day, hour to hour. It also might make sense that merchants would be worried that they might not see their money when consumers do transact (FTX’s ripple effects include concerns over governance and frozen funds).
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information