Businesses want 2-year instalment payment options: survey

About six in 10 want to accept instalments in cryptocurrency.

More than eight in 10 commerce professionals in the Lion City said they will adopt two-year instalment or buy-now-pay-later for payment options, a Salesforce study showed.

The research found that 65% of Singaporeans either accept or plan to accept within two years payments in the form of cryptocurrency.

READ MORE: MAS mulls additional consumer protection safeguards for crypto trading

ADDX accepts crypto assets of accredited investors

Aside from this, the research also found that almost half of Singapore respondents said automation will be a priority in the next two years. 

Also, Singapore respondents said they expect an average of 52% of revenue to come from digital channels by 2024.

This showed that businesses are focused on putting customer data to work to improve efficiency and profitability.

Overall, Singapore businesses said their top three priorities include expanding customer base, growing revenue, and global expansion.

Salesforce’s State of Commerce gathered insights from 4,000 commerce practitioners, including 200 from Singapore which tackled how businesses adapted to customers’ expectations.