Key facts
- Crypto assets are accepted by only 0.2% of online merchants in the euro area.
- Fewer than 1% of businesses with physical points of sale accept crypto.
- Cash is accepted by 92% of businesses with physical points of sale.
- Mobile payment acceptance at physical locations rose to 68% in 2026 from 36% in 2024.
- Consumer preference is the top factor for merchants when selecting payment methods.
A new report from the European Central Bank (ECB) indicates that cryptocurrency payments are barely utilized by merchants in the euro area. The survey found that only 0.2% of companies selling goods and services online accept crypto assets, while acceptance at physical points of sale remains below 1%. This contrasts sharply with cash, which is still accepted by 92% of businesses with physical locations. The ECB surveyed 8,205 businesses across 21 euro area countries between February 23 and April 10. The findings emerge as the ECB progresses with its digital euro project. Meanwhile, mobile payments have seen substantial growth, with acceptance at physical locations jumping to 68% in 2026 from 36% in 2024, driven by instant payments and digital wallets like Apple Pay and Google Pay. Cash acceptance slightly increased to 92% from 90%, and physical card acceptance rose to 88% from 87%. Bank check acceptance declined to 27% from 36%. Merchants cited consumer preference as the most significant factor in choosing payment methods, followed by security and ease of handling. The survey also noted varying long-term outlooks for cash acceptance among small and medium-sized enterprises across different countries. The ECB report mentioned Bitcoin (BTC), Ether (ETH), and Tether's USDt (USDT) as examples of crypto assets. It did not specify whether merchants who receive settlement in traditional currency after a customer pays with crypto should count such transactions as crypto acceptance, and declined to speculate on potential underreporting due to regulatory uncertainty.