Payments

Crypto use on rise, most will use it for mobile purchases

Image courtesy of Cantaloupe Systems Inc.

January 11, 2022

More than a third of consumers between the age 18-54 own cryptocurrency according to a recent study by Cantaloupe — a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market — with people ages 18-34 most likely to own it (37%), and individuals 35-54 (33%) trailing only slightly, according to a press release.

Further, 67% of those who own crypto are willing to consider using it for purchases if it were linked to a mobile wallet, with an additional 19% saying they would consider using crypto linked to a mobile wallet if it were easy.

According to the same survey, only 14% of respondents reported not having used a mobile payment app in the past year.

Paypal was the most popular payment app with 72% of respondents saying they'd used it in the last year, compared to Cash App (32%), Venmo (26%), Google Pay (21%), Zelle (20) and Apple Pay (19%).