Definition ∞ Retail payments refer to transactions conducted by consumers for goods and services, typically involving small individual amounts. In the context of digital assets, this means using cryptocurrencies for everyday purchases or peer-to-peer transfers. These payments aim for speed, low fees, and accessibility, offering alternatives to traditional fiat currency systems. The expansion of retail payments is a key indicator of cryptocurrency adoption.
Context ∞ Retail payments using cryptocurrencies are a significant area of development, with ongoing efforts to improve usability and reduce transaction costs. News often reports on merchant adoption, payment processor integrations, and regulatory stances on crypto as a medium of exchange. Future developments include advancements in layer-2 scaling solutions and central bank digital currencies (CBDCs), which could significantly accelerate the mainstream acceptance of digital payments.
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