A new DECTA whitepaper reveals significant interest in cryptocurrency payments among UK small and medium enterprises. According to the survey of 500 UK SME decision-makers conducted by research firm Censuswide between March 13 and March 20, 2026, 11.8% of merchants believe their customers want cryptocurrency payment options. However, this figure rises to 20.7% among businesses with annual turnover between £50 million and £99.99 million, indicating stronger adoption among larger enterprises with international operations.
Despite growing crypto interest, payment security remains the dominant concern for UK merchants. The DECTA survey found that payment security topped the list at 48.6%, followed by simplicity at 42.2% and speed at 37.2%. Cryptocurrency ranked eighth at 11.8% when merchants were asked about customer payment priorities. As reported by DECTA, security remained the top payment priority for merchants, while interest in Buy Now Pay Later (BNPL), open banking, and cryptocurrency continued to gain ground.
The survey findings highlight the growing importance of international payment capabilities among UK SMEs. According to the report, 53.8% of UK SMEs already sell products and services worldwide, placing greater focus on payment methods that support international commerce. However, 20.2% of merchants involved in global trade said their international payments experience has deteriorated, making cross-border payment capabilities increasingly important as more SMEs expand beyond domestic markets.
UK SMEs face several operational challenges, with 19.4% citing slow access to funds as their most common business challenge. The survey also revealed that 16% pointed to fraud and security concerns, while 14.2% cited a lack of transparency around payment processing fees. Despite these challenges, more than half of surveyed merchants, 51.8%, said they would prioritize security over both lower fees and access to the latest payment technology. Among micro-businesses with one to nine employees, this figure climbed to 62.1%.
The survey findings come as UK regulators continue scrutinizing the crypto sector. Earlier this month, the Financial Conduct Authority warned football clubs about sponsorship arrangements involving unauthorized crypto firms, arguing such partnerships could expose supporters to financial risks. The FCA has also continued work on its broader crypto framework, with crypto firms able to apply for authorization from September 30, 2026, while the full cryptoasset regime is scheduled to take effect on October 25, 2027.
