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Complete

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The retail industry is highly competitive and requires businesses to continuously explore and implement technological innovations that will set them apart. Adopting cryptocurrency as a payment method is one innovation that gives businesses a competitive edge. We conducted a systematic literature review based on an in-depth analysis of 28 published articles. The literature analysis shows that cryptocurrency payments adoption is a growing research area, although only a few studies have been conducted in the last decade. Our analysis of the results showed that retailers consider a few factors regarding cryptocurrency payment adoption. The considerations include the company's size, innovativeness, regulatory requirements, perceived ease of use, perceived usefulness, attracting new customers, competitive advantage, meeting demand from existing customers, and using the technology as a marketing tool. The study's findings will be helpful to those retailers who wish to leverage cryptocurrency payments as a business tool to gain a competitive advantage.

Paper Number

1320

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Aug 10th, 12:00 AM

Cryptocurrency Payment Method for Retailers: A Systematic Review

The retail industry is highly competitive and requires businesses to continuously explore and implement technological innovations that will set them apart. Adopting cryptocurrency as a payment method is one innovation that gives businesses a competitive edge. We conducted a systematic literature review based on an in-depth analysis of 28 published articles. The literature analysis shows that cryptocurrency payments adoption is a growing research area, although only a few studies have been conducted in the last decade. Our analysis of the results showed that retailers consider a few factors regarding cryptocurrency payment adoption. The considerations include the company's size, innovativeness, regulatory requirements, perceived ease of use, perceived usefulness, attracting new customers, competitive advantage, meeting demand from existing customers, and using the technology as a marketing tool. The study's findings will be helpful to those retailers who wish to leverage cryptocurrency payments as a business tool to gain a competitive advantage.

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