Crypto payments infrastructure will expand, and merchants will continue to implement crypto wallet enablers like NFC POS acceptance devices at checkout and online integrated crypto payments. But sustained growth relies on bridging the gap with customers through outreach and education about crypto wallet security, acceptance, and features, and creation and delivery of exceptional customer experiences.
Dispel the security myth. Crypto wallets are both safer and faster than physical cards. Merchants need to get the word out and show customers how the technology works and why it’s more secure.
Become a trusted advisor on crypto wallets with customers to help drive “power use.” Merchants must execute information campaigns to help customers understand what crypto wallets they accept and how best to use them to enhance their shopping experience. To do this, they can create compelling messaging and incorporate it into the shopping experience online and in-store, promote easier checkout, and train frontline staff to engage and help customers with crypto wallet and loyalty apps. To really engage customers in the power and versatility of crypto wallets, businesses should put offers and coupons in crypto wallets.
Incorporate compelling features and offers for consumers. Respondents in the consumer study are interested in using crypto wallets to improve their shopping experience, like order ahead, selfservice pay, and coupon/rewards redemption — things that benefit both consumers and merchants by saving time and money.
Take care of Power Users; the Light Users will follow. Power Users love to try new things and are a source of information and help to their friends. Light Users are interested and willing to learn from Power Users. Non-Users are keeping an eye on things, and when they see others enjoying the advantages of crypto wallets, they won’t be far behind on the adoption curve.