Crypto and Web3 payment industry survey

Share your views!

Scope of the survey: This survey is aimed at gauging the interest of the payment industry (banks, payment institutions, vendors, merchants, AP / AR departments) in crypto infrastructure, tokens and services for businesses and institutions.

By ‘crypto infrastructure and products’ we mean base tokens and their infrastructures (stablecoins, bitcoin, Ethereum, Ripple, etc.) and services such as exchanges, payments, lending, borrowing and insurance. Another relevant dimension is centralised finance (CeFi) versus decentralised finance (DeFi), where CeFi involves services by (often regulated) entities and DeFi entails services based on smart contracts, with or without a form of governance and change management by a certain user / developer community.

We are also focused on permissionless ecosystems in which organisations are free to participate with the public ecosystems without being vetted upfront, providing that they comply with the necessary legal requirements (e.g. AML, KYC).

Question Title

* 1. Please indicate your focus area(s). (Multiple answers are possible – you can complete the survey multiple times if you have more than one perspective)

Financial services to retail customers

Financial services to merchants/enterprise

Financial services to other institutions

Vendor/service provider to the financial industry

Business payments (AP / AR departments) at an enterprise

Vendor / service provider to merchants / enterprises

CFO / COO / CEO at merchant / enterprise

Consultant

Investor

Policymaker / regulator

Other

Question Title

* 2. On a scale of 1 to 5, how do you rate your level of understanding of the world of crypto?

1 (No understanding)

5 (Full understanding and keeping pace)

Wissen

i We adjusted the number you entered based on the slider’s scale.

Question Title

* 3. To what extent is your organisation engaging in crypto services? (multiple answers may be given)

Reading, researching, ‘testing the water’

Talking with customers

Pilots for learning purposes

Testing service in preparation to go to market

Preparing decision making for usage or going to market

Deploying

Offering services

We are not engaging

Other

Question Title

* 4. What are/would be reasons to offer crypto products? (multiple answers may be given)

Reduce costs associated with payment processing

No chargebacks

Reduce the incidence of card fraud

Reach a wider audience and more geographies

Meet today‘s demand from customers

Offering cross-border payments/remittances

No negative interest rates

Possibility to make the yield on balances

Direct settlement (fewer intermediaries), less counterparty risk

Introduction of CBDCs

New business models

Innovation possibilities

24/7/365

Brand positioning

Other

Question Title

* 5. What are/would be reasons NOT to offer crypto products? (max 3 answers possible)

Unclear regulation

Volatility risk

Unclear functionalities

Poor user experience

AML / KYC challenges

Environmental concerns about some crypto’s

CBDCs will ultimately fill this space

No demand

Other

Question Title

* 6. Do you think crypto-infrastructures will impact the current global payment infrastructure as we know it (RTGS, ACH, card networks, etc)

Yes

Please explain

Question Title

* 7. If you answered Yes to Question 6, how will it impact on the payment world as we know it? (multiple answers may be given)

Fewer chargeback risks

More liquidity options for merchants and corporates

Cheaper and faster settlement

Faster innovation

Less counterparty risk

More financial inclusion

Cash will disappear

Lower IT costs

Talent moving to Web3 companies and projects

Question Title

* 8. If you answered Yes to Question 6, when will the C-suite actively engage in this topic?

Never

They are already engaged

Within 2 years

Within 5 years

Within 10 years

Please explain

Question Title

* 9. What are relevant trends impacting the speed of change?

Digital identity

Environmental concerns

Deglobalisation

Geopolitical developments

Competitive forces

Other