... Although local currencies provide supports, incentives and other benefits for its merchant users such as SMEs, because of security issues such as fraud and counterfeiting (Gentilal et al., 2017;Abraham et al., 2019;Glaser et al., 2014;Walton & Johnston, 2018), risk (Pianese et al., 2018;Beer & Weber, 2015;Dupont & Squicciarini, 2015;Gao et al., 2016;Hur et al., 2015;Ly, 2013), trust (Abraham et al., 2019;Shahzad et al., 2018), costs of exchange and membership (Pianese et al., 2018, Diniz et al., 2016Diniz et al., 2019), accountability (Blanc & Fare, 2013;Diniz et al., 2016;Diniz et al., 2019) and tax issues (Eisenstein, 2011;Seyfang, 2005), SMEs might become less interested in the usage of these currencies, and their adoption to the usage of these currencies might be reduced. In this regard, this paper also aims to indicate and explore major concerns of potential merchant users of local currency that might influence their adoption and usage. ...