Maksym Yemelyanov/Depositphotos.com
October 28, 2025
Should Bealls Accept Crypto for Payment?
Bealls has partnered with digital payments firm Flexa to become the first national retailer to accept crypto payments in its stores.
Flexa’s platform will enable Bealls’ more than 660 stores to accept over 99 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and stablecoins such as USDC, from more than 300 different wallets. Flexa converts digital assets into U.S. dollars instantly, removing price volatility risks for the retailer.
Bealls’ release pointed to research from Security.org that found 28% of American adults, or about 65 million people, own cryptocurrencies, nearly doubling over the last three years. Coinciding with its 110th anniversary, Bealls said the acceptance of digital payments shows its commitment to innovation.
“Digital currency will reshape how the world transacts, and Bealls is proud to be at the forefront of that transformation,” said Matt Beall, chairman and CEO, Bealls. “Our partnership with Flexa is about more than payments; it’s about preparing for the future of commerce and continuing to innovate for the next 110 years.”
EMarketer earlier this year predicted cryptocurrency payment adoption in the U.S. would surge 82.1% in two years, driven by crypto-friendly regulatory changes and payment provider expansion. However, just 2.6% of the population use crypto for payments, with hurdles including low merchant acceptance and consumer distrust.
Bealls Crypto Adoption Seen as Retail Milestone for Advocates
To crypto followers, the Bealls deal is seen as a key milestone in helping prove large-scale crypto payment systems can operate seamlessly in high-volume, real-world retail environments. Only a few retailers and restaurants, including Sheetz, Chipotle, and Camping World, accept digital currencies for in-store payments.
The promised benefits of crypto payments include faster checkouts with near-instant transaction processing, real-time settlement, and lower transaction costs — since crypto transactions usually incur fewer fees than credit card payments.
However, as noted by Financefeeds.com, an online publication focused on fintech, “Many shoppers remain unfamiliar with using digital wallets in retail settings, and differences in refund, dispute, and chargeback processes compared to traditional card payments could present challenges.”
Any push toward digital payments would require greater cryptocurrency adoption.
The research from Security.org further found 14% of people without crypto plan to buy it in 2025, and 67% of current owners plan to buy more this year. Of U.S. adults familiar with crypto, 46% believe that Donald Trump’s second presidential term will boost mainstream cryptocurrency adoption.
On the negative side, 40% of people who own cryptocurrency still aren’t confident that the technology is safe and secure. Also, 38% of non-owners said they will never purchase cryptocurrencies. The top concerns were found to be:
- Volatile markets, unstable token values, and currency exchange rates.
- Computer glitches and lost access to tokens.
- Digital scams, online hoaxes, rug pulls, and cyberattacks.
- Lack of government oversight and consumer protections.
Discussion Questions
How confident are you that retailers will be increasingly accepting cryptocurrency payments in stores in the years ahead?
Do you see the benefits of crypto payments ultimately outweighing the risks for retailers?
Poll
Loading …BrainTrust
Ananda Chakravarty
Vice President, Research at IDC
Verlin Youd
SVP Americas, Ariadne
David Biernbaum
Founder & President, David Biernbaum & Associates LLC
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Bealls can accept whatever forms of payment it likes. Heck, it can accept payment in mung beans if it so wishes! However, as much as accepting cryptocurrency helps to future-proof the business in payment terms, it won’t make much difference to the propensity to shop at Bealls. That’s driven by the usual array of propositional factors: price, range, style, location, and so forth. As for digital currency, it’s time is not here yet – not as a full-fledged and widespread method of payment.
While it’s notable that Bealls has become the first national-retail chain to accept crypto payments (via a partnership with Flexa), I remain somewhat skeptical that cryptocurrency will become a widespread in-store payment method anytime soon. The main issue isn’t technology—it’s regulatory risk. With limited federal regulation, unclear consumer protections, and volatile asset classes, both retailers and shoppers face significant unknowns. In Bealls’ model, the conversion to U.S. dollars is instantaneous, which limits risk for the retailer. But for the consumer, paying in crypto still carries complexity and uncertainty about recourse in event of fraud or refund.
From a retailer’s perspective, the benefits—faster checkout, broader payment options, potentially lower fees—are alluring. But the risks may outweigh them for now: exposure to compliance issues, payment-system integration costs, and the reputational risk if a crypto payment system breaks down or becomes hacked. Without clear regulatory oversight or standardized dispute-resolution frameworks, the concern is genuine. Until regulators catch up and consumer protections are clearly defined, many retailers will likely proceed cautiously.
In short: yes, crypto payments may grow over time in specific retail niches or high-tech-forward brands. But as a core payment channel for most retailers? Not yet. The decision comes down to balancing innovation with liability—retailers must ask whether the incremental upside justifies entering an environment with regulatory shadow and consumer-trust gaps.
I posted my response before I saw yours. I guess we are on the same boat. I hope there is no leak in it…
Crypto acceptance won’t impact sales anytime soon at the firm. Heck, it won’t even impact PR given the general trends around Crypto. With suggestions that crypto is used for money laundering and racketeering to being a Ponzi scheme, there’s enough distaste to avoid it until there’s some real traction. The move and relationship with Flexa is fine but the yield will be limited and value from offering crypto acceptance won’t be seen by the average Bealls shopper. I like to use the banana concept- if people are trading bananas for material goods, food, or gas, bananas are the fiat currency. In the case of crypto, there’s a long way to go to become a banana.
The wrong question is being asked: it shouldn’t be “will more accept it?” – to which the answer is “yes”, but rather “should more accept it?”..to which I say HE** NO!
That a retailer which sells items seldom costing more than three figures wants to accept a volatile financial instrument of limited exchange value suggests to me not so much innovation as desperation.
Great vision on Bealls part! I’m sure there are more partnership benefits behind the scene we are not immediately seeing. It does have some customer service risk as returns made with Crypto look to qualify for in-store credit only, (even with a receipt). However, being on the front of the learning curve has many benefits that Bealls should be able to leverage in the future. It is a leap past the Starbucks approach of allowing crypto to be used to purchase gift cards and use the cards to pay for purchases. Crypto is not going away so you might as well learn early with a low risk approach.
this should be a low risk approach with close monitoring they can learn and if needed turn off/ adjust ? and restart if needed.
Will retailers increasingly accept crypto-currencies? Of course! They will increasingly accept any form of legal tender that consumers increasingly use. It only makes sense. I am curious to know if perhaps consumers within the Bealls’ target geographies and demographic are more likely to use crypto-currencies. Also, it would be interesting to know who takes on the crypto-currency value volatility risk, Bealls, Flexa, or some other entity. The risk assumption will have a direct impact on speed of acceptance across more retailers.
While interest in cryptocurrencies is growing, there are potential challenges that retailers may face when considering their adoption. One significant hurdle is the volatility of cryptocurrency values, which can lead to financial unpredictability for businesses.
Also, the lack of widespread understanding and regulatory clarity around cryptocurrencies can complicate their integration into existing payment systems.
Retailers can mitigate risks by implementing real-time conversion services to immediately exchange cryptocurrency payments into stable fiat currencies, reducing exposure to volatility.
Additionally, investing in employee training and developing clear regulatory compliance strategies can help navigate the complexities of crypto adoption. By taking these precautions, retailers can confidently explore the potential benefits of accepting cryptocurrency payments.
The assumption here is that 28% of US adults have crypto. I highly doubt it. I’d like to ask the respondents if they know what cryptocurrency is, and where to access it.
…or if Bealls’ customer demographic is even attracted by it…
If accepting crypto as payment via Flexa costs Bealls less in transaction costs versus credit cards, then it is a net positive for the retailer – for the small fraction of purchases made that way. But I suspect the impact may be small relative to the effort required.
As for Bealls’ shoppers – I suspect very few are ready to pay by crypto yet.
Last time I bet against Cryptocurrency I lost the opportunity to make hundreds of thousands of dollars. One bitcoin is worth 113k so maybe the Emperor’s new clothes are overpriced, but right now we are trading with paper, so never say never.