Payfit study: 20% of French are open to salary payments in crypto

Ipsos survey for payroll software developers has discovered a growing interest among young French workers in using crypto as a salary payment method

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French employees are increasingly attracted to cryptocurrencies, even though the country's banking system is exceptionally well-developed if compared to the rest of the world

Ipsos, a leading market research firm, has recently conducted a "Payroll analysis for French employees" for the developer of the PayFit payroll software. The survey found that one in five French workers is willing to receive their payments at least partially in cryptocurrency, while young workers under the age of thirty-five are even more enthusiastic about using this technology for payments, with 31% of respondents in this age group willing to adopt crypto payments.

The survey was not designed to find particular reasons for French employees' interest in cryptocurrencies, but it is possible that the country's recent unfavorable economic situation is influencing French attitudes toward the possibility of wider cryptocurrency adoption.

Yet, according to Web3 media portal Cointribune, the French still have limited interest in cryptocurrencies, in part due to the fact that banking services are particularly widespread in the country, leaving only one percent of the adult population unbanked, compared to the global average of 65% populating having access to banking services. In addition, employees who earn higher salaries tend to be less enthusiastic about adopting crypto payments in the workplace.

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One of the other issues Ipsos looked at in its study for Payfit was the frequency of salary payments. It found that 80% of respondents were satisfied with monthly salary payments, while 9% wanted more flexibility in changing payment dates.

The study also found that "payroll is still too complex for four out of five French people." France is known for particularly complicated payslips, usually comprising at least forty lines, making these documents incomprehensible to most French workers.

Despite such extensive payslips, only three out of ten respondents found their employers transparent enough when it came to salaries.

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"The world of work is undergoing unprecedented changes related to technological, social, and environmental developments, that is a fact. Since the arrival on the labor market of the Millennial generation, born in the 1980s, and then of the digital natives, we have observed a strong and slow change in the relationship with work and, more generally, in the place of work in life," Amaury Lelong, CEO of Payfit, told French local newspaper Les Echos in early June.