Digital payments, or financial transactions that do not involve the physical transfer of currency, are seeing accelerated growth in popularity. It’s estimated that the total transaction value in the digital payments market is expected to reach US $20.37 trillion in 2025, growing to $36.75 trillion by 2029. Growth across the market is largely driven by the increasing adoption of e-commerce and mobile payments, along with a rise in contactless payments. Consumers expect seamless and secure transactions, increasing the popularity of mobile payment apps, digital wallets and cryptocurrency.
Cryptocurrency payment gateways are rapidly gaining traction. As a result, the market size of crypto payments within payment gateways worldwide in 2030 is forecasted to reach US $4.81 billion. Crypto payments are convenient, flexible and uniquely suited to meet the varied challenges of most businesses, not least because of the ability to personalise payment solutions to meet different and specific requirements.
When looking at the big picture, however, the adoption rate of crypto payments seems to have room for improvement compared to digital payments overall. Out of the total forecasted, crypto payments are projected to make up 0.08% of digital payments by 2030. With its vast benefits and convenience, crypto payments are the future of cross-border payments, so why is this percentage not spiking faster?
The answer is awareness and education for businesses. So, why should companies take advantage of the market shift and how can they grasp the opportunity?
The benefits of tailor-made payment solutions
No single business is ever the same, and companies of different shapes and sizes face significantly different challenges. There are a huge number of variables even across industries. Companies manage different cash flows and volumes, local and international variations and legislation, along with differences in operational structures and customer preferences, to name a few.
For many, a one-size-fits-all payment system simply doesn’t work, leading to inefficiencies and unnecessary costs. This is where customised payment solutions come into play. Tailored solutions offer the flexibility to scale with a business, adapt to specific business and industry needs, and integrate seamlessly with existing systems.
For companies looking to launch globally, payment platforms that cater to multi-currency support and low transaction costs can make all the difference.
The inevitable rise of crypto payments
Traditional payment methods are falling behind, often carrying hefty processing fees that cut into margins. Crypto payments reduce these costs by eliminating the need for intermediaries such as banks, making them an attractive option for cost-conscious businesses.
That’s not the only benefit. Cross-border payments using fiat currencies can take days to settle, particularly when intermediaries are involved. Crypto transactions, on the other hand, are almost instantaneous, enabling businesses to maintain a more liquid cash flow.
Using a crypto payment gateway, businesses can convert cryptocurrency back into fiat currency and receive it in their bank accounts if preferred. As a result, the company never actually deals with the crypto or needs to handle it on an exchange where it may lack experience. Its exposure to fluctuations is also minimal compared to converting back to fiat in the foreign exchange market.
For companies aiming to tap into international markets, crypto payments bypass the limitations of traditional banking systems and enable a seamless and efficient alternative for cross-border transactions. A crypto payment can be made with minimal friction, regardless of customer location.
Providing more effective payment solutions for businesses
The growth of the crypto payment market highlights a fantastic opportunity for companies willing to embrace blockchain technology. Modern payment solutions stretch beyond simple payment transactions – they provide platforms and partnerships that can help businesses grow, saving time and money, and maximising profits.
It’s time to move beyond traditional banking, which often makes global transactions overly complex and expensive. With crypto payment gateways, businesses can accept payments near-instantly from customers worldwide, without worrying about forex rates or lengthy delays. In short, companies can maintain greater control over their finances, increase business efficiencies and manage market volatility during global transactions.
Crypto payment solutions can also be highly customisable. It’s easy to avoid the one-size-fits-all approach of traditional banking. Payment gateways such as Bitpace can be tailored to meet the specific needs of every business, whether in e-commerce, travel, or any other industry.
Helping companies to compete on a global scale
Crypto payments are changing the world of finance, and businesses that fail to adapt risk being left behind. Crypto payments will play a key role in the future, providing a transformative tool that levels the playing field for companies looking to compete on a global scale.
The rise of e-commerce and online marketplaces has increased the need for secure and efficient payment systems that facilitate cross-border transactions. Forward-thinking companies like Bitpace enable businesses to unlock the full potential of crypto payments while focusing on innovation and growth.
Trust and credibility of crypto are on the rise globally with new regulations in the EU and countries around the world increasing adoption and investment. With the technological advancements in blockchain and the adoption of a fast-growing technology like AI, 2025 is set to be a transformative year for crypto and crypto payments.
Can Taner, CPO, Bitpace
originally published on financederivative.com