One Fifth of U.K. Bussiness to Use Cryptocurrency in Payment Processing in 2018

  • Tatjana Kulkarni
  • September 25, 2017
  • DataBank
  • 0

The United Kingdom is one of the largets fintech hubs of Europe, so it is only fitting that U.K. businesses are taking advantage of the benefits the industry has to offer. One of those major benefits is cutting costs.

According to a survey conducted by London-based business finance company MarketInvoice, released today, U.K. businesses that are using fintech products and services have saved on average over £5,500 (about $7,400) a year.

According to this survey of 3,482 UK Businesses, MarketInvoice found 65% of U.K. businesses have adopted at least one fintech application, and 19% have adopted at least four, while 77% of UK businesses are aware of fintech products.

Further, 11% of those surveyed have used bitcoins or other cryptocurrencies for processing payments at some point in the past year. And 21% of these businesses expect to use them in their payment transactions over the next 12 months.

Read the full report here.

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