Ripple executive Reece Merrick says crypto payments are in a phase that looks a lot like the early days of online shopping. Consumers in the early 2000s were hesitant to enter credit card details into web browsers, and online purchases were often seen as risky and unfamiliar. He argues that many people still approach crypto transactions with that same caution.
The comparison is tied to how fast online commerce eventually scaled. Merrick noted that more than one in every five dollars spent in global retail now moves through online channels. In 2000, e-commerce represented just 0.2% of total retail sales. That share rose as secure payment gateways spread, broadband access expanded, and smartphones made digital shopping easier. He expects online retail to account for 20% of global retail sales by 2026.
Merrick says infrastructure is the real bottleneck
His argument centers on readiness, not lack of potential. Merrick says crypto payments need a stronger base before they can reach wider usage, and he identifies three pieces as essential: scalable Layer 1 blockchains, stablecoins with deep liquidity, and regulated fiat on-ramps. Those elements shape how easily users can move between traditional money and onchain assets, and how practical crypto becomes in payment settings.
The article also defines the terms behind that view. A Layer 1 blockchain is a main network where transactions settle directly on the core chain. A stablecoin is a digital asset typically pegged to a fiat currency such as the US dollar. Merrick’s point is that the crypto industry’s version of broadband and smartphones is only now being adopted, making broader payment access a realistic target rather than a distant idea.
Ripple frames the issue through global payments
Because Ripple is closely associated with cross-border payments and financial technology, Merrick’s comments carry weight in discussions about global payment rails. The message is straightforward: crypto payments remain limited in scale today, but that condition may change if the sector follows a path similar to e-commerce over the past two decades.
As presented in the article, crypto payments have not reached mainstream acceptance yet. The sector is still working through core infrastructure constraints. Merrick did not attach a specific timeline to mass adoption, but he said recent progress in technology and regulation is helping build the conditions for broader long-term use.