Crypto Payments Gain Momentum, One in Five Leading UK SMEs Reports Surge in Demand
UK Merchants See Rising Demand for Crypto Payments Despite Security Remaining Top Priority
Businesses in the United Kingdom are increasingly recognizing cryptocurrency payments as an emerging customer demand, although payment security and ease of transactions remain the biggest priorities. This was revealed in a new whitepaper released by payment technology firm DECTA.
Based on a survey of 500 SME decision-makers in the UK conducted by research company Censuswide between March 13 and March 20, 2026, around 11.8% of merchants said customers want the option to pay with crypto. The figure rises significantly to 20.7% among larger businesses with annual revenue between £50 million and £99.99 million.
The report found that crypto payments still rank below other customer priorities such as payment security, simplicity, transaction speed, multiple payment options, refunds, guest checkout, Buy Now Pay Later (BNPL), and open banking. Payment security ranked first at 48.6%, followed by simplicity at 42.2% and speed at 37.2%, while crypto came in eighth at 11.8%.
DECTA CEO and Payments Innovation Forum Chairman Scott Dawson said alternative payment methods are continuing to gain traction among merchants. Alongside crypto, BNPL services were identified as a priority by nearly 20% of respondents, while open banking and cryptocurrency attracted stronger interest from larger companies.
Crypto Interest Stronger Among Large Businesses
According to the report, while crypto payments remain a minority preference overall, demand is noticeably higher among high-revenue merchants. DECTA warned that payment providers ignoring crypto could become less attractive to some of their biggest business clients.
The survey also showed that 53.8% of UK SMEs are already selling products and services internationally. However, 20.2% of merchants involved in global trade said their cross-border payment experience has worsened.
DECTA noted that international payment capabilities are becoming increasingly important as more SMEs expand beyond domestic markets.
Merchants identified several business challenges, including slow access to funds (19.4%), fraud and security concerns (16%), and lack of transparency in payment processing fees (14.2%).
Meanwhile, more than 51.8% of merchants said they prioritize transaction security over lower fees or access to the latest payment technologies. Among micro-businesses with one to nine employees, that figure rose to 62.1%.
UK Continues Tightening Crypto Regulations
The findings come as UK regulators continue increasing oversight of the crypto industry. Earlier this month, the Financial Conduct Authority (FCA) warned football clubs about sponsorship deals involving unauthorized crypto firms.
The regulator said such partnerships could expose consumers to financial risks and products that are not protected under UK regulations.
The FCA is also preparing a broader crypto regulatory framework. Under the current timeline, crypto companies will be able to apply for official authorization starting September 30, 2026, while the full crypto regulatory regime is expected to take effect on October 25, 2027.
Separately, UK authorities sanctioned Huobi Global S.A., linked to HTX, in May as part of an enforcement action connected to the Russia-linked A7 network.
Despite growing regulatory pressure, DECTA’s survey suggests that many UK merchants still view cryptocurrency payments as a relevant transaction option, particularly larger businesses with international operations.
