Not too long ago, the thought of walking into a store and buying a pair of jeans with Bitcoin or any other kind of cryptocurrency would have sounded like science fiction — but yesterday’s novelty may be turning into tomorrow’s go-to payment method.
For retail leaders, the question is no longer if cryptocurrency payments will matter, but when and how they should prepare as evolutions in payments innovation, policy and consumer trends merge to forge retail’s future. However, that when may still be some time in arriving: while 65 million U.S. adults own cryptocurrency, few use it for payments. In fact, retailers that are adopting crypto — and there are a few, including some major names — may be doing so at the moment primarily for marketing and image purposes.
Which is not to say that crypto is mere window dressing. Across the retail landscape, “payment method flexibility” has already become critical to growth strategies — more than half of major global retailers now consider crypto and stablecoin support when selecting acquiring partners, according to recent research from ACI Worldwide.
Similarly, governments are becoming more receptive to digital assets: New York City’s creation of a Municipal Office of Digital Assets and Blockchain in October, for example, signals the growing public-sector engagement with blockchain ecosystems, and regulatory hurdles are giving way as digital payment systems gain institutional and public visibility.
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“This regulatory certainty attracts institutional participants and encourages the development of enterprise-grade, compliant tools that retailers can rely on,” said Sudip Mazumder, SVP and Retail Industry Lead for North America at Publicis Sapient in an interview with Retail TouchPoints. “A harmonized regulatory framework can also alleviate the current, fragmented state-level compliance burdens, making crypto integration more appealing to national retailers.”
That appeal is already coming to fruition. In October, Bealls — a 110-year-old U.S. retailer with 660+ stores across 22 states — partnered with Flexa to accept in-store payments in over 99 cryptocurrencies, including Bitcoin, Ether and several stablecoins. The system integrates directly with the retailer’s existing POS hardware and settles the sale instantly in U.S. dollars, eliminating any volatility risk for Bealls.
Why Bealls Decided to Start Accepting Crypto
So why did Bealls decide now was the right time to adopt crypto payments? “The technology, infrastructure and consumer readiness finally aligned,” said Bealls Chairman and CEO Matt Beall in an interview with Retail TouchPoints. “For Bealls, it’s about positioning for what’s next. Our focus is on modernizing every touch point of the customer experience. Digital wallets are quickly becoming the new norm, and integrating crypto through Flexa, powered by AMP, allows us to stay agile while giving customers optionality and speed at checkout. It fits directly into our long-term digital strategy of bridging innovation with everyday retail simplicity.”
The move to accept crypto is part of a broader strategy at Bealls — to examine and leverage blockchain technologies beyond just for payment.
“Digital currencies represent the next logical evolution, a payment layer that’s instant, secure and global,” Beall explained. “Just as ecommerce once redefined convenience, blockchain-based payments are redefining trust and efficiency. Over time, we’ll see blockchain integrated into everything from digital receipts to identity verification, creating a more seamless, connected retail ecosystem.”
Bealls isn’t the only retailer looking at the ways that blockchain technology might reshape retail. Bed Bath & Beyond, Inc. has been toying with tokenization technologies for several years now, testing out the uses of blockchain and digital assets for everything from raising money and managing its loyalty programs to organizing franchise agreements for a new fleet of brick-and-mortar stores.
Beall also is excited about the technology’s broader potential: “Forward-thinking retailers don’t have to wait for perfect clarity to move thoughtfully into emerging technology,” advised Beall. “This isn’t a speculative move; it’s a practical one grounded in customer choice and operational readiness. As more national chains recognize the cost, speed and fraud-prevention advantages of blockchain payments, adoption will accelerate. We’re simply proving that legacy retailers can lead innovation when they stay open, adaptable and aligned with where the world is headed.”
Crypto Adoption not yet Plug-and-Play for Retailers
The participation of a large national retailer like Bealls suggests crypto payments are moving from experiment to execution, driven by real business benefits like lower fees, faster settlement, fewer chargebacks and easier cross-border transactions.
But retailers still face operational, accounting and regulatory hurdles. Despite the fact that approximately 65 million U.S. adults own crypto, according to a study by Security.org, few use it for purchases. For now, accepting digital assets serves more as a strategic differentiator and investment in future readiness than a primary revenue driver.
Amid this balancing act of crypto’s potential and its hurdles, the Flexa–Bealls partnership represents a tangible move toward making everyday crypto use feasible. Flexa’s integration with Bealls lets customers pay in crypto as easily as using a card — no new hardware or extra steps are required, according to Flexa Co-founder and CEO Danny McCabe.
“Building a nationwide crypto payments network wasn’t easy,” said McCabe in an interview with Retail TouchPoints. “From the start, Flexa took a compliance-first approach by registering with FinCEN as a Money Services Business and obtaining money transmitter licenses throughout the nation. That work means Flexa can operate everywhere in the U.S. with full regulatory authorization or approval.”
Still, crypto adoption isn’t yet a “plug-and-play” decision. Retailers face many practical questions: How many customers will actually pay with crypto? What are the accounting, operational and risk management burdens? How will refunds or regulatory changes be managed?
Ignoring crypto payments, however, may prove short-sighted for retailers preparing for the next wave of commerce. The ecosystem is maturing fast — acquirers are adding crypto support, stablecoins are gaining legitimacy and turnkey providers like Flexa are removing technical barriers.
How Close are Crypto Payments to Becoming Mainstream?
“Adoption is already well advanced in areas like cross-border trade, remittances and ecommerce,” said Jai Bifulco, Chief Commercial Officer at Kinesis Money in an interview with Retail TouchPoints. “Retail use will follow as asset-backed digital currencies become more accessible through compliant payment networks. Once people can hold and spend stable value, whether gold, silver or fiat-pegged digital units, the advantages of immediacy and cost efficiency make the shift inevitable.”
However, industry analysts have mixed views about the future impact of cryptocurrency on retailers.
“Crypto has come a long way and with the current administration and finance sector giving it legitimacy, the adoption will surely come,” said ecommerce and retail consultant Greg Zakowicz in an interview with Retail TouchPoints. “Right now, it’s too bifurcated to scale quickly. Some stores require an intermediary app to make the payments, and others accept some but not all coins. Then there’s the issue of stores not wanting to invest in the tools or software to accept crypto payments due to the lack of consumer adoption and projected returns on investment.”
Neil Saunders, Managing Director and Retail Analyst at GlobalData Retail, also is skeptical, believing most retailers view cryptocurrency with a mix of curiosity and suspicion: “Most know it is not a widespread payment method, but they also know it has gained ground with some segments of the population,” said Saunders in an interview with Retail TouchPoints.
“The suspicion part comes from the fact [that] the market isn’t regulated and the exchange rate can swing wildly, which can present a financial headache,” he added. “Crypto payments are not mainstream. They are still niche. While more retailers now accept crypto and ownership of crypto is more widespread among consumers, it still accounts for a fraction of retail transactions. I don’t see this changing anytime soon.”
Retailers like Walmart, Amazon and Kroger perceive cryptocurrency primarily as both a genuine payment innovation and a marketing tool “aimed at attracting younger, tech-savvy consumers such as Gen Z and millennials,” noted Publicis Sapient’s Mazumder. “While crypto offers operational benefits such as lower fees and faster settlement times, its current adoption levels remain relatively low, making its strategic significance as a marketing tool more substantial than its transactional value.”
For Now, Crypto Readiness is the Name of the Game
Ultimately, the story of crypto in retail is evolving from speculation about asset prices or niche tech experiments into a broader narrative about payment infrastructure modernization, consumer choice, merchant economics and competitive positioning. And when national retailers like Bealls enable crypto payments at scale, while cities establish dedicated digital-asset offices and acquiring partners like banks begin adjusting criteria to include crypto support, the trend becomes clear.
Forward-thinking retailers are treating crypto readiness as a strategic investment, using pilot programs to test adoption, reduce fees and gain operational insights while keeping risk and compliance in focus. Though mainstream use remains limited, early movers that build infrastructure, partnerships and internal expertise now will be well positioned as blockchain-based payment systems evolve into tokenized, instant and globally connected commerce systems.
So while this phase of development is more about testing and preparation rather than large-scale rollout, readiness remains essential. As transaction volumes grow, merchants with established infrastructures, partnerships and expertise will be able scale the most effectively. And as payments, digital assets and retail converge, future systems may shift to tokenized value on blockchain rails, enabling near-instant settlement and turning checkout into a digital hub for wallets, loyalty, global payments and personalized engagement — giving the early movers an edge.
