UK merchants are ranking crypto payments among new customer demands, although security and payment simplicity remain top priorities, according to a new whitepaper published by payments technology provider DECTA.
The new DECTA whitepaper, shared with crypto.news, is based on a survey of 500 UK SME decision makers conducted by research firm Censuswide between 13 March and 20 March 2026. We found that while 11.8% of merchants believe their customers want the option to pay with cryptocurrencies, this figure rises to 20.7% for businesses with annual sales of between £50m and £99.99m.
The report places cryptocurrencies behind payment security, simplicity, speed, multiple payment options, refunds, guest checkout, buy now, pay later, and open banking when merchants are asked about their customers’ payment priorities. Payment security ranked first at 48.6%, followed by simplicity at 42.2% and speed at 37.2%. Virtual currency came in 8th place with 11.8%.
DECTA CEO and Payments Innovation Forum Chairman Scott Dawson 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 cryptocurrencies are gaining significant interest among large enterprises.
Interest in cryptocurrencies increases among large companies
According to the report, cryptocurrencies remain a minority payment preference overall, but are gaining more weight among high-volume merchants. The company said payment providers that ignore crypto risks are not viewed favorably by some of their large merchant customers.
The research also found that 53.8% of UK small and medium-sized businesses already sell products or services globally. At the same time, 20.2% of merchants involved in global trade said their international payments experience has worsened. DECTA said cross-border payment capabilities are becoming increasingly important as more small and medium-sized enterprises expand their operations beyond their domestic markets.
Merchants identify slow access to funds as the most common business challenge, with 19.4% citing it as a problem. A further 16% cited fraud and security concerns, and 14.2% cited a lack of transparency around payment processing fees.
Meanwhile, more than half (51.8%) of merchants surveyed said they would prioritize security over lower fees and access to the latest payment technology. For micro-enterprises with 1 to 9 employees, this number rose to 62.1%.
UK cracks down on virtual currencies
The findings come as UK regulators continue to scrutinize the cryptocurrency sector. Earlier this month, the Financial Conduct Authority warned football clubs about sponsorship deals involving unlicensed cryptocurrency companies, arguing that such partnerships could expose supporters to financial risks and products that fall outside the protection of UK regulations.
The FCA is also continuing work on a broader cryptocurrency framework ahead of a planned licensing regime in the UK. Under the regulator’s current schedule, crypto companies will be able to apply for authorization from September 30, 2026, and the full crypto regime will come into effect on October 25, 2027.
Separately, British authorities sanctioned Huobi Global SA. $ cooperativein May as part of a Russia-focused enforcement action targeting organizations allegedly connected to the A7 network. The move followed previous legal proceedings against FCA. $ cooperative Concerning allegations of illegal virtual currency promotion targeting British consumers.
Despite this regulatory activity, DECTA’s research suggests that some UK merchants continue to view crypto payments as an appropriate customer option, particularly among larger companies with international operations.
